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Have you lost sleep wondering what will happen to your water treatment business when it is time for you to retire? If you don\\u2019t have an overall plan for your exit strategy, it\\u2019s time to get one. \\xa0Even if you don\\u2019t plan to exit for a long time.\\xa0\\xa0

In today\\u2019s episode, I speak with\\xa0Michael Warady, President and Co-Founder of the Sylmar Group. Before founding Sylmar, Michael led project development efforts and was a member of the growth-stage equity investment team at\\xa0AquaTECTURE\\xa0where he led the development of new water treatment projects such as cooling towers and wastewater reuse facilities. In addition to running the Sylmar Group, he is an Industrial Advisory Board member of the International Desalination Association and sits on the non-profit Access Books board.\\xa0

\\xa0Michael and I talk about some different options for exiting your business when that time comes. It\\u2019s so important to be comfortable and confident in your long-term plan, and in today\\u2019s episode, we talk about how to make that happen. Enjoy!\\xa0\\xa0

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Timestamps:

Introducing Michael\\xa0Warady\\xa0[10:30]\\xa0\\xa0\\xa0

Starting\\xa0The\\xa0Sylmar Group [17:25]\\xa0\\xa0\\xa0

How to plan for your business after your retirement [22:54]\\xa0\\xa0

What are some of the ways to valuate a business? [29:15]\\xa0\\xa0

Transitioning to a more formal balance sheet and income statement [33:39]\\xa0\\xa0

What to do when someone reaches out to you about buying your company? [37:24]\\xa0\\xa0

Top concerns when it comes to selling your business [40:51]\\xa0\\xa0

What is the\\xa0first priority\\xa0if you want to exit your business soon [46:41]\\xa0\\xa0

A\\xa0real life\\xa0example of one of The Sylmar Group\\u2019s customers [51:45]\\xa0\\xa0

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Quotes:

\\u201cWater is the one irreplaceable thing on earth.\\u201d - Michael Warady\\xa0\\xa0

\\u201cWhat is the type of business I want to pass onto the next owner?\\u201d - Michael Warady\\xa0\\xa0

\\u201cA typical sales process is a six to nine-month process.\\u201d - Michael Warady\\xa0

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Connect with Michael Warady:

Website: sylmargrp.com

LinkedIn: in/mwarady

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Links Mentioned:

Rising Tide Mastermind\\xa0

127 The One With Tom Hutchison

Trusted Advisors Network\\xa0

The Hang\\xa0

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