048: Drivers That Add Value When Building a Sellable Business with David Chudyk
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Life can change in a heartbeat. Even if you don’t have any intentions to sell your business in the near future, increasing its market value is never a bad idea.
Today’s guest is David Chudyk. David is a financial planner, entrepreneur, and host of the Weekly Wealth Podcast. He has been helping his clients build wealth since 2005. We discussed the benefits of running a “sellable” business to help you discover the pain points that could be taking away from your company’s value.
In our conversation, you’ll learn about the systems & processes to create a “sellable” business, how to let go of money as a limiting factor, and embracing all your profit potential. We’ll also dig into a few drivers that add value from his Value Builder Assessment to help you estimate the current value of your business with better accuracy.
Who Is David Chudyk?
As a financial planner, David has been helping clients to build wealth since 2005. He believes that it is his duty to shepherd his clients by empowering them to make the best possible financial decisions for the reasons that are important to them. By developing plans and strategies for business owners and individuals for all areas of financial planning, such as investment planning, risk management, tax planning, estate planning, etc., David believes that he can help his clients’ overall financial well-being.
As an entrepreneur, David has held to the philosophy that “we all need to do our parts to make the world a better place.” He is currently heading a financial literacy program for the Foothills Care Center and is on the Board of Directors of Crimestoppers of Oconee County. David has won the United Way of Oconee County’s small business of the year for company giving on several occasions.
Key Takeaways
- The importance of running a “sellable” business
- Three “D”s that lead to the need to sell: Divorce, death, disability
- The systems & processes of a “sellable” business
- Having time to make the world a better place
- Modeling a positive money relationship
- “Profit” is not a bad word
- The Value Builder Assessment (8 Drivers of Value)
- Single points of business failure
- Creating a work culture based on core values
The First Step to Selling Your Business for Higher Profits
Mic Drop Moments
- “There are people out there that can help you with what you're not great at, and then that frees you up to do the things that make a good life for you.” — David Chudyk
- “How we handle our money should positively impact our lives, and the lives of those around us.” — David Chudyk
- “Having a business that can be sold and is running almost as a franchise model makes life easier, even if you don’t sell your business.” — David Chudyk
- “Modeling positive money behaviors starts a generational cycle.” — David Chudyk
- “If your business is very dependent on any one thing (a person, product, industry) it’s worth a lot less.” — David Chudyk
- “If you’re not actively creating the work culture, the culture creates itself. Find out your business’ core values, and hire people that buy into this belief system.” — April Roberts
- “Money is an exchange of energy: if you’re a good person, you’re going to put it towards good. If you’re a miserable person, it’s probably going to add to your misery.” — April Roberts
Resources
- David Chudyk on LinkedIn | Instagram | X/Twitter | Facebook
- Chudyk Financial Services and Insurance Group
- Chudyk Financial Services and Insurance Group on Facebook
- Unlock Financial Freedom with the Weekly Wealth Podcast
- The Weekly Wealth Podcast on Apple Podcasts | Spotify | Google Podcasts
- Business Value Development | All of Your Assets | South Carolina (allofmyassets.com)
- Michael Hyatt
- Full Focus
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- Vixen Gathering Instagram: @vixengathering
- April Roberts Instagram: @aprilrochelleroberts
- Vixen Gathering Facebook Page
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