If you're like most entrepreneurs your goal is to build your business, and one day sell it for a handsome profit. Our guest on today's show has done just that, and he's here to talk about it! Matt Curry and his wife built Curry's Automotive into an auto repair shop empire before selling it for $16.5 million a few years ago.
On today's edition of Grow My Revenue, Matt shares what it took to build that empire, what regrets he had after selling it and his one piece of advice if you want to sell your business for an eight-figure sum in the future.
Listen to this episode and discover:
* How long was Matt required to stick around after selling the business?
* Who to talk to when you really want to know how your business is running.
* What his Richmond shop taught him, and can teach you too.
* How he and his spouse have successfully worked together for over 20 years.
* Does he see his Attention Deficit Disorder (ADD) as an obstacle or a benefit?
* And so much more!
Episode Overview
When Matt and his wife started their business he was 28 years old and had $103,000 worth of debt on 13 different cards. Their first shop was in a terrible industrial park.Their goal was to build 10 stores and have the best auto repair shop in the world.
And that's exactly what they did! Over a period of 16 years they had 10 different locations which serviced 60,000 cars a year and turned $20 million in sales. They employed 152 people and their company was voted the best auto repair shop in North America by Motor Age Magazine and Inc. 5000 3 years in a row.
On today's episode, Matt explains how they created their growth so successfully, as well as how his ADD is an asset and not an obstacle.
The key to running and maintaining so many successful locations and generating ever-growing revenue was simple: policies and procedures for everything. Every aspect of the business was outlined, written out and followed by every single employee.
From how a customer was greeted when they entered any of the 10 locations to the test drives done on every car, every aspect of the business had a policy and procedure in place that was followed by all employees. These rigorous policies allowed the business to run with or without Matt, which meant the business was scalable.
On today's episode of Grow My Revenue, he shares more about his book and some of the success his coaching clients have had and why he's so passionate about helping others today. We dig into his perspective on his ADD diagnosis and how that has helped him as an entrepreneur, rather than hurt him. This is one powerful and insightful show you won't want to miss!
Discover more at http://www.ianaltman.com/business-cast/
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