Murray Priestly is a partner at Global Private Partners, a private equity investment firm based in Asia and the author of the book The $1M Pay Day. He is an expert in growing, scaling and selling online business no matter the size.
“If you think about that — start a business, add value to it, and sell it to somebody else in the future — from day 1, you will do things differently in the business.” – Murray Priestly
Background in the Industry
For 10 years, Murray worked for a huge IT company in Texas, Electronic Data Systems. He transitioned into the world of finance when he moved to Asia to work for a private equity firm.
As time progressed, he went to purchase an e-commerce company on Amazon. He acquired three more in the long run.
What Buyers Look for in a Business
His experiences enabled him to see what works and what doesn’t for e-commerce companies. Murray discusses the difference in perspective between businesses and buyers.
“The things that I am looking for [as a buyer] I am assuming that we will fix and therefore we will get the advantage of.” – Murray Priestly
According to him, buyers don’t look for a business to be spectacular. They would look for one thing they could fix and use it to their advantage.
Why an Exit Strategy Matters
Many start a business, see it grow and be happy with its success. There are good times and bad times in the journey.
“That million dollars that you are about to get will be the biggest amount of money that your business will ever see. Chances are you haven’t been taking out a salary.” – Murray Priestly
An exit strategy allows for betters income generation. Businesses with a strategy will design their work accordingly and work on it.
To hear from Murray Priestly, download and listen to the episode. Connect with him through the links below. Remember to let Murray know you heard about him on Stop Riding the Pine!
Show Links for Murray Priestly:
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