The Lawyer Who Turns Businesses Into Exit Machines
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What is the main topic discussed in this episode?
build the company from the start without you. If you can do that, that's a scalable company that now has enterprise values a lot greater than what the value would be if you're the one in the day-to-day running it.
A lot of entrepreneurs, they get into the business, then they start making money. A lot of them don't even ever think about selling the business. How do you think about it? When's the right time to think about it?
The right time to think about it is probably five to seven years before you're even considering it because most people think about it like when they want to sell it and it's too late. You've got to really, I always say if you're going to set up your business, set it up to sell. You may never exit, but do it from the beginning. If you want to grow an organization and have a valuable workforce that values the business and you as a leader, you have to really understand.
My name's Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life. Hello and welcome back to another episode of Living the Red Life. Joining me today is Rocco. He's a visionary, entrepreneur, and innovator like most of us, building something amazing. So I'm excited to dive into his lessons and his journey. So welcome to the show. Thanks for having me. So tell everyone if they don't know who you are, let's start with, you know, who are you and what do you do and how did you get here?
That's a great question. So obviously I've been practicing law now for over two decades.
How can entrepreneurs prepare their business for a successful exit?
So business lawyer by trade. But what my passion is actually helping companies grow, like systematize and then exit. So I go in the small to large organizations, help them look at all their problems, fill the gaps, then get them ready for exit. Yep. Sell it multiples.
Well, and it's interesting because, you know, a lot of, you know, I've worked with a lot of attorneys and lawyers and they're very, you know, stay in the paperwork on the legal clauses, right? And I mean, what you're doing is so great because not only do you understand business much better to help advise on the legal side, but... Um, you know, actually, uh, I've done a lot around educating entrepreneurs through my programs over the decade on how to build to sell. And I was fortunate to learn from some friends that had sold $300 million plus companies or done a hundred plus exits. And they taught me and, uh, you just, you know, you don't learn this stuff, but most people learn it when they sell their first business and lose tons of money.
So when I learned it, I was like, I need to share this stuff. So it's. Let's start there. How did you get into helping entrepreneurs and business owners understand how to structure to sell?
So I've been an entrepreneur basically my whole life, and being a lawyer was kind of a means to an end for me.
What are the biggest mistakes entrepreneurs make when planning to sell?
I knew that I wanted to be able to start my own business, but I didn't want to be a lawyer working in a big firm. So I started a law firm when I left corporate America, and I had my own businesses that I grew and sold myself. And then I just started working with, I started with a lot of athletes and entertainers where they were kind of- Well, I know they need it a lot, right? All the legal side. Well, the interesting part is, yeah, they do and they wanted a lot of the advice for free. And to me, I wasn't starstruck. I'm like, look, you need me more than I need you. So I started working with them and then I just saw this need in the marketplace, lawyers over complicated things. So I always said, how do I go in and simplify things?
And our tagline for our law firm is redefining legal services. it's really a consultative basis. So I go in with these companies and look at, most of the gaps tend to be in leadership and operations. They have the right people but in the wrong seats and they have broken processes. If you fix the people problem, you fix the process problem, profit takes care of itself.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–1:23
2
How can entrepreneurs prepare their business for a successful exit?
1:23–2:39
3
What are the biggest mistakes entrepreneurs make when planning to sell?
2:39–12:11
4
How do leadership and operational gaps affect business valuation?
12:11–16:44
Speakers
2 identifiedMore from Living The Red Life
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