Here’s a clip from the Restoration Rundown podcast interview with Gokul Padmanabhan (Restoration Brokers of America) where he discussed the #1 mistake restoration owners make when they are trying to sell their business.
“So the biggest owners, the biggest mistake owners make is think they’re going to run their business forever. I mean, it’s really that simple, correct? I mean, that’s the biggest mistake we made, we all make. We think we’re going, we’re going to lift 150 and we’re going to run it all the way. And we want to run it, you know? I mean, so a lot of us just wait until it’s too late. I mean it’s, it’s really that simple.
So the number one mistake that people do. Is their way and they don’t plan for it, right? So you got to plan ideally about five years before you exit. You start thinking about it. You put a plan in motion. You figure out where you are. And then you start working towards the thing that makes your business attractive to a buyer, right? The number one mistake that people.”
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Benjamin Ricciardi is the founder of Ironclad Restoration Marketing, A digital marketing agency that specializes in the Restoration and Cleaning industry based in South Florida. Benjamin is the author of The No Bulls**t Guide to Internet Marketing for Restoration Contractors and hosts The Restoration Rundown Podcast, a podcast that is focused on everything related to marketing and owning a Restoration and Cleaning Business. Connect with Benjamin and Ironclad Restoration Marketing on social media for the latest tips and tricks on how to grow your Restoration Business.