Turning a Business into a Sellable Asset with Scott Duke, Founder of OpnRoad (Ep.22)

Summary

When looking to exit a business, selling it can be a great option for some entrepreneurs. But how can you ensure your business is sellable? Is there an emotional aspect to selling your business?

In this episode, Mark Dorman speaks with Scott Duke, founder of OpnRoad, on his experience in building many businesses and selling them, discussing the challenges he faced and the lessons he learned along the way.

Scott discusses:

• The process of building his property management company, Revelstoke, and the challenges he faced
• Importance of implementing systems, processes, and open book management to drive value in a business
• The emotional impact of selling a business
• Why businesses struggle to sell when they are dependent on the owner
• The purpose of his company, OpnRoad, and how they service the lower middle market
• How they valuate a business to determine whether it’s sellable and transferable
• And more

Resources:

• Finish Big: How Great Entrepreneurs Exit Their Companies on Top by Bo Burlingham

Connect with Mark Dorman:

LinkedIn: Mark Dorman 
Website: Succession Planning & Business Advisory Services | Succession Plus US
Email Mark: mdorman@succession.plus
LinkedIn: Succession Plus USA
Facebook: Succession Plus USA
Call: (330) 350-5410

Connect with Scott Duke:

• LinkedIn: Scott Duke
• OpnRoad

About our Guest:

Scott Duke is the founder and lead advisor of OpnRoad. He has worked with hundreds of owners to  maximize the value of their businesses. Beyond leading the OpnRoad team, he serves as the Lead Advisor on their M&A transactions.

Scott is an active board member of the International Business Brokers Association® and regularly educates 250+ Realtors through the British Columbia Real Estate Association®. He also serves as the VP of Sales for Capitaliz – a fast-growing SaaS company servicing the global exit planning industry.

Some of Scott’s past experiences include:

• Purchased and scaled Revelstoke Property Services 10x with Eve Duke, and sold to a private equity firm in 2018
• Founded StokeFM radio station in 2011
• Served on Revelstoke City Council for 4 years

Outside of work, Scott enjoys a good surf trip down south and fresh power days in the alpine in Revelstoke, BC.

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