Building a successful coaching and consulting business can be a challenging task. It requires not only the correct skill set and expertise but also a deep understanding of the industry landscape.
However, entrepreneurs who are able to effectively scale and automate their businesses can unlock significant benefits, such as more time and resources to focus on essential tasks.
Michael Byars is a serial entrepreneur and founder of Acquisition CEO. He grew up in rural South Carolina and started his first business at 19. The company grew from 2 locations to 10,000 endpoints, generating $40 million per year in revenue. At age 21, he obtained his first acquisition deal by purchasing a restaurant. Today, Michael has amassed $140 million a year in revenue across the 20 companies in his portfolio.
Michael noticed the financial returns in the acquisition business were very high and decided to move to acquiring businesses instead of investing in start-ups. “I realized the potential of acquisitions compared to the real estate market. After buying, flipping, and renting homes, I recognized that the market is volatile in that space,” Michael says.
Additionally, Michael Byars is the author of the book Scale Then Sell: The Blueprint for Unlocking What the 1% Know about Growth. He says that a business owner will have to exit their business at some point. However, he adds that they should ensure they have built their wealth and maximized its value when the time comes to exit.
Although exiting a business is a process, through his book, Michael guides entrepreneurs on how to implement key strategies to rapidly drive cash flow, improve their bottom line, and create a multiplying effect when they exit. He calls it the “Wall Street Exit Method.”
A mastermind program and course designed to educate current business owners and entrepreneurs on the advantages of expanding their enterprises through a merger or acquisition has also been introduced by Acquisition CEO. The course makes use of Michael Byars’ 20 years of experience in buying, growing, and leaving businesses for the greatest return on investment. It also provides advice on how to spot target businesses, close purchases, and increase value.
Michael was fortunate enough to have a mentor who educated him on the principles and strategies of entrepreneurship at the beginning of his entrepreneurial journey. As a result, he is passionate about acting as a bridge in helping people discover their potential in the business world, stating, “I have a passion for doing the same for others and changing lives by creating legacy wealth for my mentees.”
An acquisition can also help a business develop and scale more quickly than beginning from scratch. A purchase may also give access to established infrastructure, processes, and market share. For entrepreneurs wishing to buy a firm or scale their present business through mergers and acquisitions, the Acquisition CEO mastermind program and the course is a very beneficial resource.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bulletin Track journalist was involved in the writing and production of this article.