Tommy Berretz co-founded Texas Aquatic Enterprise (TAE) in 2005 to maintain commercial swimming pools for condominium groups, apartment buildings and schools.
The business grew to more than 200 employees on the back of Berretz’s sales skills. That’s when he hired an accountant to value TAE. Berretz waited patiently as the accountant ran the numbers but was ultimately disappointed by the result.
The account had chosen to value Berretz’s business based on his assets alone reasoning that without Berretz himself, TAE was worthless.
At first he was disappointed and a little angry. Then Berretz set about re-modeling TAE to be less dependent on him which ultimately culminated in a seven-figure exit.
In this episode, you’ll learn:
- The secret to hiring sales people for replacing you as a rain maker
- The number one hire Berretz made (it may not be who you think)
- Why you should never sign a “standard agreement”
- Why Berretz ultimately sold to his second highest bidder
If you’re interested in improving the value of your business, take our questionnaire or contact Colonial Business Brokerage today at 443-982-7332.