What it Feels Like to Grow & Sell Your Business!

Dan Fisher shares his journey of building and selling his business, Magic. The business started as a video rental store and expanded into a rent-to-own model. Dan discusses the challenges of scaling the business, the importance of culture and leadership, and the decision to sell. He emphasizes the value of servant leadership and the impact of giving back to others. Dan also reflects on the emotional toll of running a business and the personal growth that comes with it. Dan discusses the unexpected challenges and surprises he faced during the transition process of selling his business. He emphasizes the importance of having professionally done accounting and financial statements, as well as preparing contracts and documents ahead of time. Dan also shares his advice for entrepreneurs, including the value of continuous learning, being part of peer groups, and investing in the right people and tools. He talks about the impact his business had on the industry and community, and his plans for the future, including working with his foundation and starting a new business.

Chapters

00:00 Building a Business: From Video Rental to Rent-to-Own
07:55 Scaling the Business: Challenges and Growth Strategies
16:21 Servant Leadership: Helping Others Succeed
21:26 The Decision to Sell: Balancing Personal Goals and Employee Well-being
30:06 Challenges and Surprises in the Transition Process
35:12 The Importance of Having a Strong Team
37:33 Preparing for the Sale: Building a Culture and Making Yourself Replaceable
39:51 Future Plans: Working with the Foundation and Starting a New Business
44:43 The Value of Continuous Learning and Book Clubs
46:53 Advice for New Entrepreneurs: Investing in People and Tools
50:14 Personal Growth and the Impact of Running a Business
55:27 Reflections on the Podcast and Closing Remarks