{"id":26375,"date":"2024-04-05T07:53:38","date_gmt":"2024-04-04T21:53:38","guid":{"rendered":"https:\/\/flippa.com\/blog\/?p=26375"},"modified":"2024-06-26T15:01:14","modified_gmt":"2024-06-26T05:01:14","slug":"always-plan-for-the-exit-mike-fingers-strategic-blueprint-for-entrepreneurs","status":"publish","type":"post","link":"https:\/\/flippa.com\/blog\/always-plan-for-the-exit-mike-fingers-strategic-blueprint-for-entrepreneurs\/","title":{"rendered":"Always Plan for the Exit: Mike Finger&#8217;s Strategic Blueprint for Entrepreneurs"},"content":{"rendered":"\n<p>In this episode of Humans of Flippa, we delve into the world of entrepreneurship, buying, selling, and growing businesses. Joined by Mike Finger, a seasoned entrepreneur and a passionate advocate for small businesses, Mike has over 25 years of experience in buying, building, and selling businesses and has become a beacon of knowledge in making businesses saleable.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Always plan for the Exit: Mike Finger&#039;s Strategic Blueprint for Entrepreneurs | Humans of Flippa\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/3f0QyCNSxuc?feature=oembed\"  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Listen to this Episode:<\/h3>\n\n\n\n<ul>\n<li><a href=\"https:\/\/podcasts.apple.com\/au\/podcast\/humans-of-flippa\/id1739721511\" target=\"_blank\" rel=\"noopener\">Apple Podcasts<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/open.spotify.com\/show\/3u7RACSb5eSXcp5TZrAjPi\" target=\"_blank\" rel=\"noopener\">Spotify<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/music.amazon.com\/podcasts\/084d1415-f54d-4df5-bcdb-6d03d140ea7c\/humans-of-flippa\" target=\"_blank\" rel=\"noopener\">Amazon Music<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Understanding the Landscape<\/h2>\n\n\n\n<p>Mike sheds light on the staggering numbers that define the small business landscape in the United States. With approximately 33 million small businesses, the majority of which (80%) are owner-operated, and a significant portion (16%) having less than 20 employees, Mike highlights the critical role small businesses play in the economy. However, despite their prevalence, Mike emphasizes the lack of accurate information and guidance available to small business owners, particularly concerning mergers and acquisitions (M&amp;A) discussions.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Learning from Experience<\/h2>\n\n\n\n<p>Mike&#8217;s journey into entrepreneurship wasn&#8217;t without its challenges. He shares the poignant story of his first business venture, which started in the mid-90s from his living room alongside his wife. Despite significant growth over a decade, Mike found himself burnt out and ready to sell. However, his initial attempts to sell the business were met with rejection due to fundamental shortcomings in its structure and financials.<\/p>\n\n\n\n<div class=\"wp-block-group is-vertical is-content-justification-center is-layout-flex wp-container-core-group-layout-1 wp-block-group-is-layout-flex\">\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-1\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default is-layout-flow wp-block-separator-is-layout-flow\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-2\"><\/div>\n\n\n\n<p><strong>FIND OUT HOW MUCH YOUR BUSINESS IS WORTH<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\">Flippa\u2019s intelligent valuations engine is the industry\u2019s most accurate tool, taking into consideration thousands of sales and live buyer demand. Find out what your business is worth with our free valuation tool and&nbsp;<a href=\"https:\/\/flippa.com\/free-valuation?buy_sell=blog\">plan your next move<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/flippa.com\/free-valuation?buy_sell=blog&amp;utm_medium=Blog&amp;utm_source=PostCTA&amp;utm_campaign=Valuation\">Get a FREE Valuation<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-3\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-4\"><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">The Path to Saleability<\/h2>\n\n\n\n<p>Realizing the disparity between his perception of the business&#8217;s value and its market readiness, Mike embarked on a journey of transformation. He identified key areas for improvement, focusing on generating desirable financial results and building a business that could thrive independently of its owner. This strategic shift, though challenging, eventually paved the way for a successful sale, providing Mike with a newfound sense of freedom and perspective.<\/p>\n\n\n\n<p>Reflecting on his exit, Mike emphasizes the importance of aligning business ownership with personal fulfillment and financial security. While the monetary outcome of an exit is significant, Mike stresses the value of achieving a level of independence and satisfaction that transcends monetary measures. He underscores the need for entrepreneurs to assess not only the growth potential of their ventures but also their ability to fulfill personal and professional aspirations.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>Mike Finger&#8217;s journey serves as a testament to the transformative power of strategic planning and perseverance in the world of entrepreneurship. His insights offer a roadmap for aspiring business owners to navigate the complexities of business ownership, with a keen eye towards building businesses that are not only successful but also saleable. As Mike aptly demonstrates, always planning for the exit ensures that entrepreneurs not only build businesses but also create opportunities for future growth and personal fulfillment.<\/p>\n\n\n\n<div class=\"wp-block-group is-vertical is-content-justification-center is-layout-flex wp-container-core-group-layout-2 wp-block-group-is-layout-flex\">\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-5\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default is-layout-flow wp-block-separator-is-layout-flow\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-6\"><\/div>\n\n\n\n<p><strong>FIND OUT HOW MUCH YOUR BUSINESS IS WORTH<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\">Flippa\u2019s intelligent valuations engine is the industry\u2019s most accurate tool, taking into consideration thousands of sales and live buyer demand. Find out what your business is worth with our free valuation tool and&nbsp;<a href=\"https:\/\/flippa.com\/free-valuation?buy_sell=blog\">plan your next move<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/flippa.com\/free-valuation?buy_sell=blog&amp;utm_medium=Blog&amp;utm_source=PostCTA&amp;utm_campaign=Valuation\">Get a FREE Valuation<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-7\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-container-content-8\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this episode of Humans of Flippa, we delve into the world of entrepreneurship, buying, selling, and growing businesses. Joined by Mike Finger, a seasoned entrepreneur and a passionate advocate for small businesses, Mike has over 25 years of experience in buying, building, and selling businesses and has become a beacon of knowledge in making [&hellip;]<\/p>\n","protected":false},"author":145,"featured_media":26400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"footnotes":""},"categories":[28,554,19,506],"tags":[],"dipi_cpt_category":[],"acf":[],"_links":{"self":[{"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/posts\/26375"}],"collection":[{"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/users\/145"}],"replies":[{"embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/comments?post=26375"}],"version-history":[{"count":2,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/posts\/26375\/revisions"}],"predecessor-version":[{"id":26425,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/posts\/26375\/revisions\/26425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/media\/26400"}],"wp:attachment":[{"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/media?parent=26375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/categories?post=26375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/tags?post=26375"},{"taxonomy":"dipi_cpt_category","embeddable":true,"href":"https:\/\/flippa.com\/blog\/wp-json\/wp\/v2\/dipi_cpt_category?post=26375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}