You are using an outdated browser. Please upgrade your browser to improve your experience and security.

WES S03E10: Seller Final Steps

Justin Cooke August 16, 2017

Subscribe to our VIP LISTWe’re SOOO close…now let’s wrap this deal up!

In this episode, we look at some of the final steps you’ll need to take to close the deal and then look at both post-sale support and some next steps you can take after an exit.


Many sellers start spending the cash before it’s even hit their bank account, but that’s a REALLY bad idea. The deal isn’t done until you’ve got the money in the bank, so you’ll want to be careful all the way through the process.

So…what’s next? We’ll look at some of the smart-money moves you can make that allow you to celebrate the sale, but also put that money back to work for you.

This is the LAST episode of Season 3 and wraps up our Seller Series. We hope you enjoyed it!

Please make sure to stop by iTunes and leave us a review! Your support helps keeps us going.

That’s it for now, but we’ll plan to have an entirely new season starting later this year. We’ll shoot you an email when it’s on again, so make sure to sign up for our email list!

Alright, now check out the show:

Listen To The Full Interview:

What You’ll Learn From This Episode:

  • Continue To Meet Agreed Obligations With Business Buyer
  • Celebrate…But Not TOO Much!
  • Consider A Break To Clear Your Head
  • Start Your Next Project
  • Put That Money To Work For You

 Featured On The Show:

Submit Your Business For Sale


Justin Cooke:                     You can level up the game for yourself and start chasing deals that other people can’t. So, there’s less competition and ultimately a bigger moat around your castle.

Speaker 2:                           Buying and selling businesses just got a lot easier. Welcome to the Web Equity Show – where thousands of successful entrepreneurs go to learn about buying, growing and selling online businesses.

                                                Your hosts Justin Cooke and Ace Chapman share their real life advice, examples and expert interviews to help you build and grow your own online portfolio.

                                                Now to your hosts, Justin and Ace.

Justin Cooke:                     Welcome to the Web Equity Show, I’m your host Justin Cooke and we’re here with Season 3, episode 10. Our final episode, and I’m here with my co-host Ace Chapman who’s on the mic as well, what’s going on buddy?

Ace Chapman:                   What is up man? Season 3! We’re wrapping it up! Thanks for y’all’s patience. Justin and I were just talking as we jumped on, it’s like, man if we were full-time podcasters this would be a lot easier but right now we’ve both been busy doing a lot of deals so this season’s taking a little bit of time but we appreciate all the feedback and we appreciate the interest that you guys have shown in making sure that we finish this thing.

Justin Cooke:                     Yeah, for sure. I’ve talked to people both in person and then over the phone that are like ‘look man, really appreciate Web Equity Show.’. I know that we have sent a lot of people – Buyers to Season 2 and Sellers to Season 3, that’ve gotten a lot of value, so thank you to YOU, listener, for hanging in there with us and laughing at our bad jokes and sticking with us through the show.

                                                Let’s talk a little about Seller’s final steps. So these are the happy days, buddy. These are the good days. Things have gone well, we’ve talked about deal structures when you negotiate a deal and basically we’re just trying to get paid. Right? We’re trying to close out the deal. This is a good time to pat ourselves on the back, to give ourselves some congratulations because we have, or about to successfully close a deal but we do want to talk a little bit about the next steps and how some of these next steps can make entrepreneurs anxious – even regretful. There is a bit of sellers remorse that happen and we might get into that as well.

Ace Chapman:                   Yeah, I’m seeing it. So, this is one of those things when you get done with the negotiations and you’re closing the deal it’s good to keep in mind that this doesn’t have to be a one-off deal. I do these things for a living. I love this process and it’s cool to see that more and more folks are kind of seeing that I can do another deal, go that sell it, do another deal, go that sell it. And, we see it on a large scale with guys that will grow a huge business like Twitter and then go on and do Square and that kind of thing, and so we’re able to do the same thing on this level as well.

Justin Cooke:                     Yeah, you mentioned earlier that we’re not just podcasters and we’ve been doing the business part of the business, right? And that’s true. I mean, in fact, our company and you and your guys have done quite a few deals in Q2 and Q3 this year so I expect that to continue. Hopefully (wink wink, Ace let’s get some deals done). But yeah man so that’s kind of a big part of what you do and so for Sellers that have just closed on a deal and they might be feeling a little anxious or maybe even a little regretful about the deal, understand that their skills in being able to set up the business, run the business, make it profitable and then ultimately exit that business – that should be a repeatable process. So if they can do this again and again and again, that’s really where they’re going to make a ton of money. It’s being able to rinse and repeat with this. So, we’re gonna look at wrapping up some of the odds and ends that a seller has to deal with toward the end of the deal, and then talk about some next steps they can take to help their next project be even more successful.

                                                Before we do that buddy, let’s do some listener love. First off we’ve got an iTunes review that’s five stars. It comes to us from James G; ‘The blueprint to becoming an online business mini-mogul.’. “Love this podcast, I’d like to get into the business space and this podcast has been incredibly helpful in that they give you all the information you need to get into this – an exciting market.”. James, thanks so much for the love man, appreciate it.

                                                Alright, before we even get into this show let’s talk a little bit about where your business is at. I know you’ve been doing a lot of things, you’ve recently had another ‘Deal-makers Weekend’, what are you guys up to? And what do you have planned for the rest of the year?

Ace Chapman:                   Yeah man, it’s been a very busy year. We just got done. We had Deal-makers Weekend just a few weeks ago. That was awesome. We had some guys come down. And this is one of the few times – it’s funny to see how things have progressed over the years, Justin. I mean, you knew years ago there were very few people that were talking about this or doing this and it was awesome. I keep the group limited to twelve each time, and we had folks come in and ‘average number of deals done’ was three deals. I think we had one guy who hadn’t done any, most folks had done at least one, we had several folks that had five, six deals that they had done. So it was neat to get around a group of people that was a little bit savvier – and you’re having a much higher level conversation and so these guys are the folks that when we talk about ‘hey, you can go out and do this multiple times, you can build a portfolio of several of these’, so that was really great for me ’cause I’m used to doing the trainings and it gets old talking about ‘oh, this is how you look at traffic on a blog’, it gets old talking about the basic stuff. So we got to talk a little bit higher level, that was a lot of fun.

                                                So, coming up on the rest of the year, got a couple really large deals that we’re looking to take down, and we’ve got a portfolio that I’m basically going to be selling, so just doing more buying and selling throughout the rest of the year. I probably won’t do another a bit like that until the same time last year. I know you guys just had your event in Thailand – much more exotic than my little location in Atlanta. How was that?

Justin Cooke:                     Yeah man, well it’s exotic ’cause I’ll be honest with you, we’re lazy and we like South-East Asia so we’re like, look, we’re just gonna bring people out to us and we’re gonna make it a baller time. Right? I don’t want to have to go all the way to Vegas or whatever, nope. We’re going to do a bouquet, there’s beach, there’s party and we’re gonna have a good time. So yeah we had about twelve, thirteen people show up for the event. We rented out a couple of villas. They were right next to each other which was really convenient. And then did a Masterminds. So we got some really small group detailed information examples and take downs of businesses. And we spent a day doing that, and then another day kind of chilling at the beach and night partying and just had a really good time with the people there. I mean, some of them are customers of ours, some of them are people we just know – [inaudible 00:06:51] and other entrepreneurs so it was a really, really good time. It always is. We’ve done it – this is our third one now, that we’ve done there in Phuket. So, yeah man. Lot’s of fun.

                                                I want to go back to you really quick. You’re talking about getting deals done and bringing people together to do some deals, and to be honest with you, that’s not – I was just thinking about this, if I was listening to that as a listener I’d be like ‘Yeah, okay dude. Okay sure. You guys are closing so many deals, blah blah blah’. And the reason I mention that is I’ve heard this on Facebook from other people where they’re talking about deals they do, and we’re gonna do this, we’re gonna do that, it just sounds like… not true. Do you know what I mean? I know people in the business, and I know what they’re doing and I’m like ‘No. No I don’t think you are.’. But I just thought I’d mention, I know the deals you’re doing, we’re involved in some of them, and they are legit. I mean the people that you’re bringing in to this and are doing business are legit.

                                                So, I think it’s really interesting and fascinating to see kind of how this grows. I know that you’re doing some portfolio buys with multiple investors, and you’re starting to pool money to do some of those larger deals which is really exciting. I think for our industry there’s a huge opportunity for that. We’ve been bullish on it, but we just haven’t made that successful. We just haven’t made it work as operators. And so, while we’re bummed we weren’t able to make that work as operators, we see ourselves as being real deal flow providers for that industry. So, I see that being really interesting, I really hope you and the other guys that are doing it can make it work. It’s been really exciting to see this industry grow. Remember we talked a couple years ago about doing some kind of smaller high touch events, and although we were able to do one together, we have our separate ones. You have one in the US, and we have one out in Thailand. It’s cool to see. Do you remember we were talking about that before? And then we were like ‘Oh, I don’t know if we can make it work’, and we did actually get it done so that’s been fun.

Ace Chapman:                   We did man, I mean and then even years before that we just talked about the future of this industry and it growing and all of that, and I mean it’s been amazing. Like you said, now I’m doing more multi-million dollar deals and that kind of thing, it’s funny to see both of those things kind of come to fruition.

Justin Cooke:                     Do you do the offline deals at all anymore? I’m just thinking like, there’s just so much more value in online businesses – but I’m guessing you still have some clients that are like ‘Yeah, I want to buy a laundromat’, or ‘I want to buy a gas station’ or something, are you still doing those deals? Or just you’re not seeing them as much?

Ace Chapman:                   No I’m really not. I think that we are in kind of this gold rush period for the online deals. I think that multiples for those deals, it just doesn’t make sense that the multiple for an offline deal is the same as the multiple for an internet deal, and I’ve kind of felt like that for a few years now. And now we do see that those multiples are going beyond what offline deals are and I think they’re going to continue to for a little while longer. And so, just the idea of being able to buy – with an offline deal, you can buy the deal, you can grow it and increase the value but the unique opportunity right now is internet deals. You can buy a deal and in the market, even if it just stays the same is increasing the value.

Justin Cooke:                     Yeah, I mean we had a guy come to our retreat and he was at our first one as well, and he had bought a business from us and it went up – I think it was making like twelve hundred bucks a month, and it’s up to about twenty five to thirty thousand dollars a month right now, so more than 20x the value in a year and a half. It’s crazy dude. So that is by far not typical, in fact that’s the biggest example of someone multiplying one of the businesses they’ve bought from us I’ve heard. So that’s the biggest one I’ve ever heard. But it’s amazing to think about that. I mean, something that was I think bought for twenty-something thousand dollars is reasonably worth eight hundred thousand now. That’s wild.

Ace Chapman:                   Yeah, incredible.

Justin Cooke:                     Alright buddy, enough about that. Let’s get into the main episode ‘Sellers Final Steps’.

Ace Chapman:                   So the absolute final step is Closing the Deal. We’ve been closing a lot of deals. It can be a journey to get there. We’ve talked about all of these steps to get to this point, and at this point you’re getting the lawyer to review documents if you’re closing a larger deal – sometimes on the smaller deals this is just not necessary. We’ve closed plenty of small deals without any contract at all. How are you guys managing that right now?

Justin Cooke:                     Yeah, so – and to be sincere, ’cause we’re talking larger and smaller and it’s all relative right? So I’ll say generally on the five figure, even in to low six figure deals, a lot of times there won’t be contracts in place. It’ll be clearly spelled out or laid out. The e-mail in terms of what the terms are and what the deal structure looks like, but no contracts on that. When we get to mid-six figures to low seven figures, generally there are contracts in place. Generally there are lawyers involved.

                                                When it comes to lawyers, especially from the sell side – I mean, you want them to review it to protect your interests, just keep in mind that they if get stuck in the weeds or the details and they look like they’re going to kill the deal. You have to make a decision. This is just the way lawyers work but they need to get paid, so they’re paid to find stuff. So, if you want them to keep snooping and digging they will, right? Some point you’ve gotta cut it out. And I think especially for a larger deals you need to have someone protecting your interests and it’s worthwhile but just keep in mind that, kind of like the brokers right? Like we say the brokers are not always on your side in terms of giving you maximum value, lawyers again, they’re protecting you but they’re not always on your side. They earn per hour and the more they can find, the more they get paid.

Ace Chapman:                   Yeah, that’s the bottom line. There interest is a certain thing and so attorneys are going to have their interest on a certain level of ‘Hey, I don’t want to look bad, so I want to make sure I’m doing really good work’, but it’s a business just like everything else.

Justin Cooke:                     Yeah and not even in like a scammy, scuzzy lawyer way, right? Just from the perspective of ‘Look, I don’t want to miss anything. I want to make sure I catch everything’, they’re trying to do a good job for you, but you just need to make sure they’re not able to crush your deal. When it comes to closing the deal, I mean you can have contracts signed, you can have money on the way, but let’s talk about when a deals actually closed. It’s not closed until the wire hits your account. The sellers account. So once you get that wire in, you can call it a closed deal. There may be some earn-out piece, there may be some additional time taken and when you’re going to get the rest of the money, but the deal is done when you get that first big pay-out. So no matter what anyone else tells you, until that money gets in the deal isn’t done. So just keep that in mind.

                                                Alright man, the second point we want to bring up is that as a seller you need to continue to meet your agreed obligations with the business buyer. So review contract or e-mail agreements, make sure you’re holding up your end of the bargain in terms of what you’re gonna offer. And whether that’s Skype calls or training or creating SOPs or doing kind of a walkthrough with the VAs or the employees that are with the business, make sure that you’re meeting your obligations to the buyers satisfaction. And then, understand that your buyers are going to let you know whether they need more or less handholding. Particularly if a buyers new and there are more wheels to the business that you sold than like an Amazon Associate site, for example, they may need a bit more handholding than someone who’s experienced, who’s done a lot of deals, who’s run a lot of businesses like this and has experience in the niche. So, just understand that the type of buyer you get is going to determine – and their comfortability with the business, is going to determine how much work you’re going to have to put in after the fact.

Ace Chapman:                   Yeah, it’s one of those things where you are signing up to help that buyer be successful. And obviously you can kind of cut bait and leave as soon as the deal is done, depending on how much money you got upfront. But, I think in order for these things to end with a happy ending it’s going to require you being involved once you close that deal. Understanding that the buyer – you want to know how much handholding they’re gonna need, and establishing that upfront is crucial. But, if you get into the deal – and I’ve seen this with some of the deals that I’ve sold, they can say one thing, like ‘Oh yeah, I only want one hour a week’, but talking on the phone you can tell ‘Oh, this is a needy person.’, it doesn’t matter what the agreement is.

Justin Cooke:                     Yeah you’ll have that for sure. When it comes to post-sale work it’s typically the case that the first couple of weeks, maybe couple of months depending on the type of business, is going to be your highest time commitment. So whatever your agreement was, you’re likely going to put in most of that work in the first couple of weeks, or for a larger, more complicated deal, in the first couple of months. And then, it’s going to be much, much less, unless something major pops up.

                                                One of the concerns buyers have is that the sellers not going to be around after the deal, and we’ve done deals with you and others, Ace, where it’s like seventy or eighty percent upfront, another twenty or thirty percent in like thirty days or sixty days, and that’s just kind of dangling the carrot to make sure the seller sticks around, that’s a buyer worry. But I’ll tell you, it’s not common that the seller disappears. It happens less often than the buyers worried it’ll happen. Do you know what I mean? I think most of the time it’s ’cause the seller, this is their baby – or at least they were heavily involved in the business or the site before selling it, and they don’t want to see someone screw it up. So they don’t want to see problems with it. They don’t want to see you not be successful with the business, they just legitimately and genuinely want to see you successful with it. So I think that’s what probably motivates them to give some time and make sure the turnover goes well. Only a couple of cases I’ve seen where the seller wasn’t so great post-sale, but most of the time that doesn’t seem to be a problem.

Ace Chapman:                   Yeah, and you know, every once in a while it really is based on how much work needs to be done, and getting into the deal, having as much disclosure as possible to the buyer. Sometimes sellers don’t want to show how much real work has to be done to make the business work, but if you really communicate it with that buyer – this is everything that needs to be done, this is what’s expected – I try to get as much training done in the due diligence period as possible so that once we’re closing the deal, we’re off and running and then asking basic questions. So that can be a strategy for the seller just to be done with it, is during the due diligence while you’re going through and they’re asking all these questions, it’s like ‘Oh by the way, this is how you do this and this is what you’re going to be doing when we close this deal’.

Justin Cooke:                     Yep. Alright third point man, it’s time to celebrate – but not too much, right? It definitely feels great to close a deal so I think it’s worth it for sellers to celebrate that. To take some time to have a little bit of fun. Maybe buy themselves that trip they’ve kind of put off for a while. And this is very subjective, this is like Justin talking, this isn’t like ‘Business advice’ particularly, but I would recommend considering experiences over luxuries. So take a trip. Take your family on a trip. Do something fun for them, fun for yourself, but if may not be the time to go by that yacht. Right? You may want to hold off on the matching jet skis and all the kind of crazy over-the-top purchases you could make – the luxury purchases. There’s a time for that, I don’t think it’s right after you close the deal. It’s probably not the best move.

                                                To get specific, Ace, in terms of how much you can spend, I mean really, again, this is subjective, but I’d say a reasonable amount to celebrate would be one to three percent of the deal. That’s not going to crush you, at varying levels, right? If it’s a hundred thousand dollar deal, that’s one to three thousand dollars. A million dollar deal, that’s ten to thirty thousand dollars. You’ve got plenty of money, you’re going to be able to have a little bit of fun with that cash.

Ace Chapman:                   Yeah I like to have things that are going to be more of a consistent change to my lifestyle. So it might be that you’re taking a small percentage and you’re in an apartment that may be a few hundred dollars a less than the one you really want, and now you can go and spend that few hundred dollars and have something that’s gonna change you’re life on a monthly basis. But yeah, I love that idea of celebration.

Justin Cooke:                     And, fourth point is to consider a break to clear your head. One thing to remember is that you can sit on the money, it’s not going anywhere. So you’ve got it in your account, it’s chillin’, there’s no reason to spend it. Don’t let it burn a hole in your pocket. Consider taking a break. You probably have been working on the business, you’ve now exited the business or sold the business, you’ve got some time, right? Whatever time you were spending on the business, you’ve got some to kinda think about it, reflect and this is a great time to do that. So, don’t go out and spend it right away. Don’t go out and start looking for the next asset class you’re gonna invest in right away. Take some time. And how much time you spend I think is going to depend a little bit on kind of what your cash is. If you have other businesses that are bringing in cash and paying the bills and everything, maybe it could be longer. It could be a couple of months, possibly. Two to three to six months depending on how big the deal was. If you don’t, and that was kind of like your main earner and your cash flow’s low, maybe you want to keep that to one or two weeks, but I think it’s worthwhile for you to take a little bit of time to kind of re-evaluate and start thinking bigger.

Ace Chapman:                   Yeah, I’m a big fan of whatever it takes – taking a break, I think that it’s necessary to plan out in touch with what you truly want to do next. There’s the logical aspect of what you want to do next but then there’s kind of the deep down passion ‘this is what I really want’, and –

Justin Cooke:                     Oh now we’re getting into the feeling part Ace. How do you feel about it? Are you passionate about it? Yeah. [Laughing]

Ace Chapman:                   [Laughing] So it’s like man, what do I really want to do next? And so take some time to clear your head to get really clear on that, I think is valuable.

Justin Cooke:                     Yeah I think it’s interesting too because when you started the other businesses – let’s say this is your first exit, you started the other business, you had kind of an idea on what was possible and you’ve now kind of reached the conclusion of that possibility, right? And so with a bit of cash you can start to, I think broaden your horizons, right? You can start to look at some bigger deals in your next go ’round. Right? Start thinking about what you can – It’s interesting to look at what you start reaching for after you’ve done that deal because it’s generally higher. You’re like ‘Oh, I can do this again, but what can I really do next’. And that’s kind of our fifth point is to start your next project.

                                                So, it doesn’t have to necessarily be a brand new project. Maybe it’s just a new initiative in a business that you already have that and that you’re already running, but you’re gonna look something that you can sink your teeth into and start getting involved in.

Ace Chapman:                   Yeah I think having a war chest once you’ve sold something, you’ve got some cash – it allows you to start thinking bigger like you mentioned, but thinking bigger means more lucrative opportunities. So you can really reach for the stars and do something that could change your life in a major way, leveraging that war chest that you just got on the exit.

Justin Cooke:                     Well what’s interesting too is that when you started, you didn’t have the war chest that you have now, presumably. Right? So, you were limited in the opportunities that you could chase down – in the deals that you could go after, you might not have those limitations today. So let’s get specific. Let’s say you sold an FBA business for four hundred thousand dollars, right? No one’s retiring on that four hundred thousand dollars, but it is a nice little war chest. So you sold your FBA business, you got four hundred thousand dollars, are there products on Amazon FBA that you could start with and niches and industries that you could get into today that you couldn’t when you started? Is there a fifteen hundred dollar product that you’d like to buy fifty of that you weren’t able to do when you were just starting out. You now have the cash to kind of like chase that market.

                                                And one of the benefits of kind of going after kind of like the larger more difficult niches or industries you can get into compared to someone just starting off is that there’s less competition. So when you started off, presumably you didn’t come with a ton of cash into the deal, you had to start with everyone else. Right? If you had ten, fifteen grand you’re starting off with or twenty grand, everyone has that. So you’re competing on products and in niches that everyone’s competing on. Now you have quite a bit more cash and you can, I think reach up a little bit. You can level up the game for yourself and start chasing deals that other people can’t. So there’s less competition and ultimately a bigger moat around your castle.

Ace Chapman:                   Yeah, it really changes things when you can get into something where you’re not having to scrape every day for each dollar that you’re making because you’re competing with so many other people. So, that becomes an exciting step.

Justin Cooke:                     Alright man, so the sixth point is you need to put that money to work for you. So going with the same example, I’ve sold an FBA business worth four hundred thousand dollars, I lost an asset. Right? That business, that FBA business that I had was an asset. I’m gonna need a new one. So, I need to start looking around, whether it’s starting a business or buying another business. I’ve taken either a couple of weeks or a couple of months off, I’ve spent some time kind of thinking about it, one of the things I can do is to buy another business or invest in the one I’m running now. And what that does is it’s effectively doubling down on this next business or my current business. Right? It’s rolling over that cash from one business into another. Now that’s risky, but it can be extremely lucrative, right? If you make it a win in your second go ’round, you can make a ton of money. The problem is, is that you’re now putting that money at play. Right? You’re now putting it at risk and the question you have to ask yourself as an entrepreneur, is that something you can stomach?

Ace Chapman:                   Yeah, it’s definitely a risk. I think you want to do that, number one understand the risk, number two having some diversification, putting some of the money into something a little less risky, just because like you said, once you’re putting that money in play you want to be able to go back to the war chest and be able to at least play another hand – don’t make it your last hand. So, you’re asking yourself ‘Can you put this money to work in a way that requires less of your time, but also has some ability for growth’. So on one hand you’ve got a business and you’re gonna be hustling to grow that business, where else can you put that money that isn’t going to take as much of your time and still be able to grow over time?

Justin Cooke:                     Well that’s the thing Ace, your time becomes a valuable currency. Right? So if you can get some of that time back and invest in something that doesn’t take a lot of your time, that may be the real win. Right? Because your business – and generally you’re putting hours, it could be ten hours a week, it could be thirty hours or it could be sixty hours a week depending on the business, but you can get big wins out of that, right? That four hundred thousand FBA business might’ve been making let’s say fifteen grand a month and was doing quite well, but what if you could find something that takes none of your time – it doesn’t take any of your time, is making you five grand a month. It’s super stable, doesn’t require any of your time, any of your effort or any of your energy – it’s a much smaller return, but you’re able to kind of like free up that time to work on another business, to get involved in other things that you want to get involved in and it’s a way to create passive – like, true passive income that doesn’t require your day-to-day or week-to-week work.

Ace Chapman:                   Yes, that is when you move – as Rich Dad, Poor Dad guy Kiyosaki, Robert Kiyosaki puts it, it’s moving to the ‘I quadrant’. You’re getting closer and closer to moving to that investor quadrant where you’re not putting your time in, step by step you’re building this portfolio of income that makes money with your money and not money with your time.

Justin Cooke:                     That’s it man, and time becomes a much more valuable commodity the more money you have. You just don’t get more time. Right? So what you want to try to do, what a lot of people do is they try to buy that time back by putting it in much more passive investments and the cool kids are calling it ‘FI’ man, financial independence. So, yeah that’s a great way to do it.

                                                Alright man, let’s wrap up this episode. We mentioned at the top of the show, we were talking about ‘Close the Deal’, that’s not done until the money is in your bank account. As a seller, once you get that wire in – that first major wire, you can say okay now the deal is done but until that happens, not done. Make sure, the seller, you’re meeting your obligations. Make sure you’re getting done what you said you were going to do. And then make sure you take some time to celebrate, too. That can be just a small bit of a cash from the deal, but treat yourself. I think it’s worthwhile to take a break and that’s gonna depend on how much cash flow you still have coming in, but making sure you get some time to reflect and think about how to up your game, will I think set you off on a better trajectory on the next business you either start, or the next business you may purchase. And the last thing, obviously if you’re re-investing and you’re gonna get another asset, that can either be a business that you’re gonna put some into. If it’s that, then you need to make sure you’re gonna get a good return on that kind of investment of both time and money. If you’re not investing time, taking less money on a more passive investment can be a really good move as you head towards the I quadrant or head towards FI. Is that a pretty good wrap up?

Ace Chapman:                   I love it man! Last episode of Season 3!

Justin Cooke:                     Yeah buddy, that’s it. We are wrapping it up. Thanks for all the listeners for sticking with us, we really hope you found the show valuable. Make sure to let us know by giving us a review on Itunes and stop over to, we’d love to hear from you. Ace, we’re still workin’ out kind of what our fourth season may look like, but we’re hoping we’re gonna have some more details out in a few months to everyone. Kind of like what our plan is for the show. In the mean time for any listeners listening to this, you can dig through our back catalogue, we’ve got three seasons, thirty-something episodes you can listen to, or you can check us both out. I’m Justin, I’m over at We’ve got Ace Chapman at the easily named

                                                Alright man, great having you on the show, I’ll see you next time.

Ace Chapman:                   Bye.

Speaker 2:                           Thanks for listening to the Web Equity Show. Now is your chance to be a part of the action. Go to and send us your business acquisition or exit question and have it answered on the show.


itunes sidebar subscribeStitcher-Subscribe-Button


Leave a Reply

Your email address will not be published. Required fields are marked *

Want New Content Like This
In Your Email Inbox?

Enter your email address below