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If you’re picking what kind of business model will make you the most money in an exit.
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Key takeaways
- Number one is we stopped accepting new customers.
- And then you negotiate deals with those guys to give you kickbacks for all this book of business.
- And you're probably going to make 100 grand a year just from referring the business out to those guys, which they'll happily do."
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I have a real estate law firm. We do 2.5 million. >> What's the bottom line? >> About 500. I also myself operate a marketing company. My wife operates the law firm. >> Okay. How much does the agency make? >> 450 top line, 200 EBITDA. >> So, do you not want to full-time market into your wife's law firm? >> It's tough to stop something that's making $200,000 in my pocket every year. >> How much time do you put towards the agency?
0:25>> 30 to 35 hours a week. >> If you took 30 to 35 hours a week and put it towards the thing that's already making, you know, seven times as much money, do you think you'd be able to find a way to get the extra 200? >> I guess my my problem is like how to shut something down like the right way, I guess. >> Yeah, yeah. No, it's a great question. I'd say, "Listen, you know, it's been an amazing time. You guys have been loyal clients. I just want to let you know two things. Number one is we stopped accepting new customers. And number two, we're going to be basically phasing this out over the next 6 months. And so, I wanted to give you guys 6 months. We'll continue levels of service for this period of time. Also, I have three recommendations of people who I trust in this industry. I think they'll do a good job. And then you negotiate deals with those guys to give you kickbacks for all this book of business. And you're probably going to make 100 grand a year just from referring the business out to those guys, which they'll happily do."