Paul Lemberg helps entrepreneurs become wealthy.
Sounds good, right? He’s our guest on the show today.
Who is Paul Lemberg?
Paul started his first company with a partner and $3,000 of credit card debt. It sold three years later for just under nine million dollars. Since then, Lemberg has consulted with Fortune-100 companies like Adobe, IBM, and Goldman Sachs, but his true passion is helping small business owners and CEOs double and triple their profits and sometimes grow their companies more than 10-fold. In this episode, Paul talks about Roland’s favorite subject, Acquisitions. If you enjoy this conversation, take a listen to the last time we had Paul on the show, here.
“I found out that you could help Cisco make an extra a hundred million dollars or help IBM save a half a billion, and nobody really cared, like nobody’s life was transformed from it. And I had this epiphany one day that my people were entrepreneurs and that I had amassed a skill set that might be valuable”. Paul Lemberg.
- The real issue in selling a business.
“If you can negotiate the multiple, you can negotiate the value of that company either up or down, depending on which side of that house that you’re on.” Paul Lemberg.
- The most important thing for most business owners (when selling their business).
“So, a lot of people approach acquisition as if the money were the most important thing. And for some people, it is, but for many business owners, they’re most concerned with whether their business will be taken care of.” Paul Lemberg.
- Which business(es) should you focus on buying?
“Invest in what you know, that’s it. If you understand the underlying business, you can make money as an investor. If you don’t understand the underlying business, you have no idea if that business is going to make money in the future or not.” Paul Lemberg.
- Why it’s so critical to understand what the seller/owner wants and why they want it.
- Why nothing compares to Paid Traffic when it comes to building a business.
“Paid traffic is the only thing that you can actually scale. It’s the only thing that you can actually maintain control of from now until the end of time”. Lemberg.
“Anytime you hear yourself saying, but I’ve got this much invested… money that you’ve put in, time that you’ve put in, heartbreak that you’ve put in, whatever it is. It could be the deal or even your job. It could be your existing business or a negotiation. It could be anything. But those things keep you in, even when common sense says it’s time to get out. So the simple question is: If you were starting today from scratch, would you be interested? And if the answer is no, probably not, then walk away.” Paul Lemberg
Contact & Follow Paul Lemberg
On his website.
On Twitter, @PaulLemberg
You may have heard about Roland’s EPIC challenge, which he moved online when the Pandemic hit. It focuses on Ethical Profits In Times of Crisis and dives into no-money out-of-pocket business acquisition strategies. If you’re interested in finding out more about this strategy, go to BusinessLunchPodcast.com/EPIC.
Contact & Follow Roland
Through his Website
Follow Business Lunch Podcast
Sign up on our home page for our podcast newsletter.