Selling Her Small Business.
Justine shares her experiences and insights from selling her small business, a successful bookkeeping business.
Justine Lackey is back on the show to share her experiences from selling her successful small business, and how she is currently helping people run and scale their own bookkeeping firms.
Justine Lackey founded one of the very first virtual bookkeeping companies in all of America, Good Cents Management. Over fifteen years she grew her firm from a one woman show to a multi-six figure, multi-state firm which she sold in 2023.
The freedom of owning her own company allowed Justine to raise her three children while never missing a school play or scrambling to find childcare on a snow day. One of proudest accomplishments though was creating an all-mom team – and giving her employees the freedom to build their job around their lives, and not their lives around their jobs.
Today, Justine teaches bookkeepers (especially moms) how to run wildly efficient, highly profitable bookkeeping businesses while staying sane and having fun.
Justine was previously a guest on Episode 305 – Bookkeeping for Small Business with Justine Lackey. On episode 305 Justine shares her entrepreneur journey and tips and techniques for small business bookkeeping.
Justine lives in the Hudson Valley Area or New York.
Selling Her Small Business:
- Why did you decide to sell your small business?
- How did you determine the value of your business? What did you do to prepare the business for sale?
- How did you handle informing your team about the potential sale?
- How did you list the business for sale? Did you use a business broker?
- How long did the sale process take?
(“…10 months, reviewing 28 buyers, whittling the list down to 5, and getting to choose between 3 bids.”) - How have you adjusted mentally to no longer being the owner of that successful business?
- Looking back at it now, what might you have done differently in the early years of growing your business?
- After transitioning the business to the new owners, what did you do? Did you take some time off?
- Please briefly introduce your Bookkeepers Business Incubator program.
(“It’s a one-year mentorship program where I teach bookkeepers how to run their businesses and scale their firms. I have had two cohorts since then and run a number of small workshops and masterclasses.”) - What are a couple of common challenges people must overcome when starting a bookkeeping business?
Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.
Resources:
Books mentioned in this episode:
[We receive commissions for purchases made through these links (more info)].
- Built To Sell: Creating A Business That Can Thrive Without You By John Warrillow
Other Podcast Episodes:
Episode 305: Justine Lackey – Bookkeeping for Small Business
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