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Quiet Giants Chapter 4: Leigh Exits for Almost 7 Figures
Leigh Huynh is the Founder of Amaki Skincare, an organic skincare company that champions all-natural ingredients and clean beauty standards. After starting Amaki Skincare on Amazon, Leigh steadily scaled her brand and exited a few years ago for almost seven figures.
Leigh’s parents immigrated from Vietnam with no more than $200 in their pockets when she was just 15 years old. Thirteen years later, Leigh started and scaled her business based on the beauty approach she learned from her mother and grandmother.
Here’s a glimpse of what you’ll learn:
- Leigh Huynh talks about the mindset she had after selling her business
- How the valuation process can help you target your business’ weaknesses and boost its overall value
- Leigh shares her family’s story of immigrating from Vietnam to the United States with only $200 in their pocket
- How did Leigh start and scale her business, and why did she choose to exit?
- Balancing entrepreneurship, parenthood, and personal time
- Leigh’s top podcast and event recommendations for female entrepreneurs
In this episode…
Are you ready to sell your business and start the next chapter of your career? Do you want to spend your days soaking up the sunshine, starting a new company, or enjoying quality family time — but don’t know how to get through the exit process first?
Exiting your business can be daunting, especially for first-time sellers. That’s why the valuation process is so important: it helps you identify your business’ value, weaknesses, and growth potential, so you can plot a clear path toward your exit goal. After all, the smoother and cleaner the process, the faster you can transfer your business and spend your days relaxing, focusing on family, or executing a brand-new business strategy. So, how can you start the valuation process and take one step closer to achieving an amazing exit today?
In this episode of the Quiet Light Podcast, Joe Valley sits down with Leigh Huynh, the Founder of Amaki Skincare, to discuss the importance of a high-quality valuation when transferring your business. Leigh and Joe talk about the beauty of the post-sale mindset, why valuation is essential for a productive exit planning process, and how to balance being a parent and entrepreneur at the same time. Stay tuned!
Resources Mentioned in this episode
- Amaki Skincare
- Quiet Light
- Quiet Light on YouTube
- Joe Valley
- Mark Daoust
- Quiet Light Podcast email: [email protected]
- “From a Net Worth of $200 to a Near Seven-Figure Exit – Leigh Huynh’s Story” on the Quiet Light Podcast
- Preorder The EXITpreneur’s Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success by Joe Valley
- Christopher Moore on LinkedIn
- Athena Severi on LinkedIn
- Titan Network
- Helium 10
- AM/PM Podcast
- Michael Jackness on LinkedIn
Sponsor for this episode…
This episode is brought to you by Quiet Light, a brokerage firm that wants to help you successfully sell your online business.
There is no wrong reason for selling your business. However, there is a right time and a right way. The team of leading entrepreneurs at Quiet Light wants to help you discover the right time and strategy for selling your business. By providing trustworthy advice, effective strategies, and honest valuations, your Quiet Light advisor isn’t your every-day broker—they’re your partner and friend through every phase of the exit planning process.
If you’re new to the prospect of buying and selling, Quiet Light is here to support you. Their plethora of top-notch resources will provide everything you need to know about when and how to buy or sell an online business. Quiet Light offers high-quality videos, articles, podcasts, and guides to help you make the best decision for your online business.
Not sure what your business is really worth? No worries. Quiet Light offers a free valuation and marketplace-ready assessment on their website. That’s right—this quick, easy, and free valuation has no strings attached. Knowing the true value of your business has never been easier!
What are you waiting for? Quiet Light is offering the best experience, strategies, and advice to make your exit successful. To learn more, go to quietlight.com, email [email protected], or call 800.746.5034 today.
Hi, folks, it’s the Quiet Light Podcast where we share relentlessly honest insights, actionable tips, and entrepreneurial stories that will help founders identify and reach their goals.
Joe Valley 0:29
Hey folks, Joe Valley here and welcome to another episode of the Quiet Light Podcast. Today’s episode is brought to you by and this is so selfish, The EXITpreneur’s Playbook. It’s a book that I have written and launches on June 15, of 2021. It’s a culmination of 10 years of work in the advisory field, working with entrepreneurs like yourself having built bought and sold over six of my own companies and now selling almost 100 million in total transactions personally and touching another half a billion through quietly, I share a lot of success stories, and some failures of my own and of my clients in the book itself. And anything that I do in the valuation process from the initial valuation calls to deal structures to add backs to working with attorneys due diligence, whatever is covered from the entire process that I’ve gone through with, I don’t know probably bare minimum 5000 conversations is in the book. It’s a guidepost for you to go ahead and understand what brings or plummets the value of your business. And it launches again, June 15, 2021. And I’m excited, I’m excited to share it with you, you can go to exitpreneur.io and get a free chapter on deal structures. And then I’ll notify you exactly when it launches and give you a discount code for the book. Now today’s episode is with a Quiet Giants movie star I guess, if you will, it’s Leigh Huynh. Leigh is a client of Quiet Light. And she came to this country when she was just 15 years old and did not speak a lick of English. She’d never watched television didn’t have electricity in the town that she grew up in, in Vietnam. Her and her family came to this country with $200.02 $1,000 in debt, and 20 years later, something like that Leigh will give you the details during the podcast, she ended up selling her business for nearly seven figures. That’s almost a million dollars. It’s a very, very poignant success story. She’s sweet, and she is an introvert. So the interview is a lot of me talking and pulling information out of her but she’s a success story, if you will of first an immigrant, second an entrepreneur and third a female entrepreneur. And that’s something we don’t have enough of in this ecommerce world. So take a listen. And her name is Leigh Huynh. She’s also a Quiet Giants chapter four that you can find on the Quiet Light YouTube channel. Hey Leigh, great to see you. Welcome to the Quiet Light. Oh, welcome back to the Quiet Light Podcast. You’re a two timer now.
Leigh Huynh 3:23
Thank you, Joe. Thanks for having me again.
Joe Valley 3:25
Well, I’m glad to have you here in conjunction with the launch of Quiet Giants chapter four, a story about your entrepreneurial journey and exit a little bit of your life to which is fascinating in terms of how old you were when you came to this country? What’s your mom had what your challenges were? And my goodness, what where you’re at today? It’s a great story. Thank you for spending all that time recording Quiet Giants. I know it was a royal pain in the you know, what? Do you want to just tell everybody right now being a movie star is not all it’s cracked up to be? It’s a lot of work sitting in front of camera for several days at a time. You’re not ready to do it again. Right away, are you
Leigh Huynh 4:09
now I want to live a Quiet life. Nobody knows me.
Joe Valley 4:14
This is the last bit of it. I swear at least from us. We won’t bother you anymore. It’s just such a motivating story though. And the first thing I want to ask you is, you know, I want you to think back to the day you sold your business. we you know we went through we listed it we survived due diligence and that probe of all the financial information. And then closing day happened and then money showed up in your bank account. I want to focus on how you felt at that time. Do you recall the feeling that you had when it was all done? You weren’t responsible for the daily activity of the business anymore. And there was actually some money in your bank account. How did you feel when it was all said and done?
Leigh Huynh 4:54
I think I felt relaxed. happy and excited. A little bit was nice and smooth transaction will finally close.
Joe Valley 5:08
Let’s Let’s how relaxed, you felt relaxed it was it just peace of mind because it was done and you you accomplish something that you would set out to do and and I like to equate it to sort of running on a hamster wheel, right? You’re just grinding it out running this business and you can’t get off, it never goes away. And did that peace of mind come from exiting? Is that what you’re talking about in terms of that relaxed feeling?
Leigh Huynh 5:38
Yeah, definitely. It’s like, you feel like you’ve got no responsibilities? And you feel like you’ve done something great.
Joe Valley 5:45
Yeah, yeah. And you did that you did something great. It was pretty impressive what you did? Well, let’s, let’s talk a little bit about the history. You know, you and I had originally talked about listing the business and did list the business for a few weeks, when your husband was gonna be transferred, I believe it was to Japan for work. And about three weeks in, he said, Look, this is too much he’s transfers not happening. I’m gonna hold the business. We had gone through a lot of analysis on the business and what the strengths and weaknesses were. And we really highlighted some weaknesses at that point, in terms of sourcing product, right. And in your local area in the in the northwest, it really required a buyer to buy locally in many ways, or for us to find a local buyer in many ways. When you had delisted the business, folks, just for those listening, it was 15 to 18 months later that Leigh came back. And we were able to list the business for about 40% higher than just 15 months ago. And within three weeks, we had the business under lettered intense, and then another three to four and it closed for all cash. Leigh, how motivating was it for you to go through the process to really understand the valuation process and sort of get you motivated and excited to build the business the right way for that much larger exit that you achieved?
Leigh Huynh 7:20
I guess in the beginning, when I was starting doing Amazon, I didn’t think that the business what was anything or just more like cash flow on building a business, getting some money, payflex medicines, and doing something that kind of fun, and not having a job. That was kind of my way, small expectation, then I start doing more and more of that and learning about people selling the business getting some money in it. And that’s when I contacted you, but just we realized that my business wasn’t really streamlined. So me to put a little bit more work into it. So I was like, Okay, now the business was something it had some money if I do put get thing in order. We’re worth a lot more. So that’s when I got more focus and putting on more work. Yeah, and getting the business more streamlined. Yeah,
Joe Valley 8:25
yeah, no, it’s it’s the big thing that people I think, don’t do enough of that. Look, everybody listening knows that. I’m an entrepreneur. First and foremost, I’ve been self employed since 1997. I’ve built bought sold over six of my own companies. And now work as an advisor, I’ve, I think personally touched at least 100 transactions that I’ve closed, over nearly 100 million in total value, and another half a million through Quiet Light. And the thing that I’ve learned as an entrepreneur, and as an advisor working with the likes of you, is that you don’t know what you don’t know, if you if you really understand what the value or potential value of your businesses and you go through the valuation process. Those tough days get a little easier because you’ve got a you’ve got a goal set, right? So you say you want to sell the business for a million dollars, and you really understand what’s right and what’s wrong about the business. And that you’re only at 750 you know that the current growth rate is going to get you to a million dollar valuation and let’s say a year, that year can pass by very quickly at that point because it’s more exciting. It’s more passionate, you’re fulfilled by it, and you have an end goal. And I know that that’s kind of you and I have talked about this a lot that that’s really what happened. From the time we d listed the business the first time to so quickly. You coming back and having the business was worth 40% more multiple offers within three weeks and having gone to LA Why in closing within I think it was a total of seven weeks. Setting goals folks cannot be done unless you have the right information. And that’s exactly Leigh what Leigh did. She went about it an interesting way Wait, Leigh, we actually went through the full process and listed your business and then you you know, life changed and we pulled the business but you were able to then focus on those weaknesses and make it much more attractive for buyer. So that that lesson I want to be passed out for folks that are out there doing it. Leigh, for the record, folks, I want you to understand she came to this country. Leigh when you were three years old. Is that right? 1515 years old. Sorry. 15 years? Yeah, I know. There’s a three in there. I think it was 15 year old with three sisters.
Leigh Huynh 10:47
I have a family of three girls.
Joe Valley 10:52
family of three girls. And did you speak any English when you came to this country?
Leigh Huynh 10:57
No, I came from like a small farm town in Vietnam. Okay, we never traveled anywhere farther than 10 miles. Maybe? A little town? Yeah.
Joe Valley 11:07
Little Town. Did you have automobiles in your little town?
Leigh Huynh 11:12
Yeah, no, no, no, we didn’t even have TV televisions. Oh, I didn’t go up with electricity. The water by running water.
Joe Valley 11:20
Alright, you came to this country with your mother and three sisters? Did you have a whole bunch of money when you came to this country? Or were you a flat broke more or less
Leigh Huynh 11:28
flat rock and $2,000 in debt, but we have $200 that we borrow? So we had $200 in our pocket with some bad
Joe Valley 11:37
debt $2,000 in debt $200 in your pocket? and fast forward? I think it was when you sold the business? Was it? You built the business? When did you start it? You can discuss your 15 didn’t speak in English. When did you start your Amazon business? How old? Were you ballpark wise, you still look like you’re 15 by the way. So folks that are watching this? Confused?
Leigh Huynh 12:02
Okay, so maybe when I went home, I was 15. Now, I’m sold to you two minutes ago by you. So maybe when I was 28.
Joe Valley 12:16
Okay, so about 13 years later
Leigh Huynh 12:18
Joe Valley 12:19
Yes. sold the business for high six figures. Right. And so it what kind of obstacles did you overcome just to be able to launch the business? Were you were you fully fluent in English at that point, when you started the business?
Leigh Huynh 12:37
No, I, I feel like I’m gifted in a lot of area. But But when it comes to language, it’s kind of always like a struggle. But I know how to hire people, I know that I need to hire people that can do a better job than me. So that I think when it comes to writing the listing, or customer service, I don’t stop and I outsource those tasks.
Joe Valley 13:02
Is that the thing that you recommend to most people is outsourcing those types of tasks.
Leigh Huynh 13:08
If that’s not something that they’re good at, or they will be struggle? Yeah. Yeah, definitely.
Joe Valley 13:14
Did you focus on people that spoke your first language? Or did you just use oDesk or people from the Philippines but you use for outsourcing?
Leigh Huynh 13:25
I use from Upwork. And some good that I met at a networking place, but just based on their skill, it doesn’t matter where it came from.
Joe Valley 13:36
Just as long as they’ve got that skill. Yes. Yeah. And you did this you grew the business while having one baby or two? I forget
Leigh Huynh 13:47
to what I was having two babies.
Joe Valley 13:51
You’re having two babies. Alright, so you really had two full time jobs?
Leigh Huynh 13:55
Right? Yeah, just think about it was kind of
Joe Valley 13:58
crazy. And is is is that the motivation behind selling the business? Is that what drove you to exit the business? So you could focus on mom? Or did you want to have that notch under your belt and put some money in the bank?
Leigh Huynh 14:13
felt like I wanted to have some peace of mind some money in the bank and focus on something else.
Joe Valley 14:22
Are you launching another ecommerce business or have you already
Leigh Huynh 14:26
I have already started one brand like entrepreneur that never quit? Never gonna quit. Yeah, and quit.
Joe Valley 14:36
Now that you’ve exited one business when you’ve launched this new brand, do you did you launch it with an eventual exit in mind someday because you’ve been there you know, where the majority of money for money in the last business came and that’s from the exit. Are you thinking the same thing that someday you’ll exit this new brand as well and you’re building it with that in mind?
Leigh Huynh 15:01
Yes, I do, I do have that in my head. But I don’t want to put a lot of goals and setting a lot of plan because it just kind of take out the fun of it. I just do it one step at a time, one day at a time.
Joe Valley 15:16
When you saw the last business deed, the amount of money that hits your bank account, was it more money that you were able to take out of the business? And all the years that you owned it? Or was it about even?
Leigh Huynh 15:29
No, it was a lot more, basically on my pocket, because after that five year that I had the business, we go out of money, we bought a bunch of real estate and we want to invest in order stuff. So definitely, all that money was profit. Okay.
Joe Valley 15:48
So in running the business, you were you were able to pull some out along the way some cash to to make some investments, the total that you were able to pull out over the years. And it was about five years that you operated that was it, do you think it was and this just ballpark number equal? greater or greater than the amount that you got in cash at closing?
Leigh Huynh 16:09
I would say last
Joe Valley 16:11
less. Yes, you’ve got more in cash at closing or less than cash at closing?
Leigh Huynh 16:16
More in cash at closing? Yeah. Because the first two year we don’t really make much money.
Joe Valley 16:21
Yeah, yeah. So for those listening, that have been through the situation where you’re operating the business, and you operate it, you launched it, like I did my first business, I just wanted to be free. I wanted to be an entrepreneur and live my own life and make more money than I couldn’t a day job. And I did that. But sometimes when you’ve got a product based business like yours later, you find that you’re putting more money into growing it. And all of your cash flows tied up in inventory on new launches, and things of that nature. And you’ve probably heard the term or phrase that you make more money on the day you sell the business than you do from all of the money all the years that you operated it. And that’s particularly true in a business that’s growing rapidly. That requires a cash infusion for inventory. Normally, you’re just paying to get more and more Inventory to Keep up with growth. And you’re not taking a whole lot out. I’ve sold a business league where we sold the business for about a million dollars. And Jeremy, the owner had operated it for three years. And during that entire time, he was not able to take any cash out of the business at all. And so naturally, most of his money came from the exit sounds like yours did as well. Is there anything that you’ve learned along the way that you would say to the, let’s say, female audiences, audience members, and I know that this whatever the advice is, who could apply to both but there are not enough female entrepreneurs out there. It’s an it’s an imbalance. I think in this e commerce world that there seem to be more men than women. But whether any resources or connections that you had, that helped you as a female entrepreneur, versus just, you know, the typical sources, resources that are out there for everybody.
Leigh Huynh 18:13
Um, recently, I found a good Facebook group is called Boss-Moms. So it’s a lot of woman, female entrepreneur, that kind of helping out each other encouraging each other is I think that’s a good Facebook group that I think Boss-Moms Yes. Okay.
Joe Valley 18:30
Look, that one up, folks will bookmark it as well, Boss-Moms, okay, anything else.
Leigh Huynh 18:36
Think as a woman and as a mom, we tend to focus on families and raising kids. And we don’t think of us as you know, like, like a woman. So we tend to focus on people other lead first before we putting on our knees. So I think we need to find a balance. So we can focus on raising a family, but also fulfill your need as a business woman, like if you want that for yourself. And how do you
Joe Valley 19:06
because you really do have two jobs. You’re raising two kids, and you’ve got a business that’s generating, you know, seven figures in revenue. How do you find that balance?
Leigh Huynh 19:19
Step like I have a very good husband, like, oh, take care of the kid. A lot of times I can understand, like, he know that I have a business. And I’m not just a moms like wife.
Joe Valley 19:35
Was Ty working from home while you had babies or he was that was he going off to work?
Leigh Huynh 19:40
full time job to he had a full time job. Oh, and um, he finally quit his work. Yeah. Okay. Yeah. So now he’s a full time investor, real estate investor and a stock trader and he’s really happy so I’m happy because you sold a business so that kind of balance it out and help him do pursue his dream to
Joe Valley 20:02
excellent. So that really freed you both up to be at the same business for you both up to spend more time with each other and have more freedom and flexibility.
Leigh Huynh 20:11
Yeah, parents full time.
Joe Valley 20:15
That’s good. You you sell the business so you could get him to quit his job and help you some more.
Leigh Huynh 20:22
We don’t say that.
Joe Valley 20:23
We don’t say that the Ty’s not gonna listen to this podcast he’s not allowed to. Now part of the freedom and flexibility is that you were able to move to South Korea not too long after the sale of the business and enjoy some personal travel time, right? Well almost tell us what happened there.
Leigh Huynh 20:40
So as soon as we got there, and COVID hit, so we can go. But we enjoy a little trip because Korea has a lot of mountains, and a lot of natural places. So we had a lot of high, we enjoy natural nature a lot. And that was really nice. Like, basically, we just dry one hour, we cut to the mountain waterfall hiking everywhere, and good food,
Joe Valley 21:04
good food. So you were able to explore South Korea, but not leave the country essentially. Right?
Leigh Huynh 21:09
Right. Yes, that’s true.
Joe Valley 21:11
Right? Now we’re doing this episode, because you were gracious enough to spend time with our cmo, Christopher Moore, who’s also a film producer as well, in the next episode of the Quiet Giants series. For those that haven’t listened to those yet, or watch them I should say that go to the Quiet Lights page on YouTube. And Li is the fourth chapter in the Quiet Giant series, talking about your full story. And I think that we had a film crew, head over to South Korea and film you over there. Is that correct?
Leigh Huynh 21:49
Yeah, I was so much fun.
Joe Valley 21:52
No, I think you’re lying there just a little bit. Right. It wasn’t that much fun.
Leigh Huynh 21:57
No filming part was fun. The interview was a little bit stressful.
Joe Valley 22:01
walking on the beach and being filmed not a problem but being interviewed. Because you’re an introvert, right? You seem to be very much an introvert and shy person.
Leigh Huynh 22:10
Definitely. And I will always think that I’m awkward.
Joe Valley 22:15
Not at all. Not at all. being an introvert makes it a challenge. I would think to go to events in person, Boss-Mom and Facebook group for women. That would be easy, because it’s online communication and you’re typing. What about in person events? Because you and I met in? I think it was Texas at an in person event? Do you find it an essential part of entrepreneurial growth to go to in person events and mastermind groups? Or do you think it’s something that can be avoided these days if you’re a deep introvert and not comfortable with those types of environments?
Leigh Huynh 22:55
Actually, I had a lot of fun every time I go to those events, because I find like a lot of people actually like me, like kind of shy, hardworking and very focused on business. Yeah, so I always had a lot of fun, just to see like, hey, there’s more people like you.
Joe Valley 23:14
Right. Right. And probably it was a good chance to get away and spend some time with other like minded people.
Leigh Huynh 23:21
Oh, yeah. And meeting a lot of friends to have friend that we talked about day. Yeah,
Joe Valley 23:25
you make good connections. And you wait by going to those events, you make connections of those connections that carry over beyond that event and into your next business that you’re running now. And you can chat with people about, you know, new ideas and what they’re doing and what you’re doing.
Leigh Huynh 23:39
Oh, yeah, definitely they share new brand. They launchings and we’re helping each other out set sharing resource and all that. Basically, will talk almost all the time. All the time. Good. Yeah, they’re like my friend now. Excellent.
Joe Valley 23:53
All right. So we’ve got Boss-Mom and Facebook. I want to I want to understand some of the events that you’ve been to and aside from the pilot of the Quiet Light Podcast, of course, what other podcasts Have you listened to or events that you’ve gone to that you’d recommend other entrepreneurs and female entrepreneurs attend?
Leigh Huynh 24:15
So the last event that I ran is SellerCon. And I really like that
Joe Valley 24:21
Leigh Huynh 24:23
Athena so very oh yes
Joe Valley 24:26
Titan Network. Okay, Athena Yeah, she
Leigh Huynh 24:28
actually the queen of what’s the best event? Yeah, joy. Enjoy it. Yeah.
Joe Valley 24:36
Your your voice, your voice and screen froze there for a moment, but I do believe you called her the queen of e commerce. Is that what you call? Is that her title?
Leigh Huynh 24:45
I think so. Yes.
Joe Valley 24:48
It’s official folks. The Queen of e commerce is a Athena Severi from the Titan Network and one of the hosts of the SellerCon event. We’re gonna call her that from now on. She actually was gracious enough to give me a quote in my upcoming book The EXITpreneur’s Playbook that is launching June 15. So she is indeed the queen of ecommerce. You are now completely frozen on the screen, which I’m assuming you can hear me just fine, though, is that correct?
Leigh Huynh 25:15
I can. Yes, I can hear you just fine.
Joe Valley 25:19
All right, any other events that you’ve gone to that, or podcasts that you listen to that have been a real inspiration for you over the years that others could learn from as well?
Leigh Huynh 25:28
I do like Helium 10. a lot too. And then your podcast on a plasma. Interesting. Quiet Light Podcast?
Joe Valley 25:38
Yes. Well, I would I would expect you to say that because you’re on it now. So thank you. Helium 10. You’re listening to the the Bradley talking about the the software and the things that people can do to grow their businesses, you find Helium 10s really are a good resource for you.
Leigh Huynh 25:57
Yes, right now they, Tim Jordan holds it. And I really liked him. Yes. Tim Jordan. Yeah. Yeah.
Joe Valley 26:06
I got a story. But Tim, I think the last time we chatted, he was talking about something to do with a puppy and being at an airport and being arrested or something along those lines. Oh, wow. Yeah, he’s a guy. He’s a funny guy. Any any last minute thoughts? Leigh, I know that. I want to be gracious with your time because I know you’re running around the house looking for a quiet spot because the kids are home. And we’ve taken up so much of your time in the last podcast and Quiet Giants. And now doing it once again, for the final time, maybe knocking on wood here. In regards to growing a business with an eventual exit in mind, is there anything that you would share anything that you can think of that if you were sitting down with some of those close friends that you’ve met over the years of events, that you’d advise them on anything you’d suggest that they do in order to understand the value of what they have?
Leigh Huynh 27:17
I think what I learned the most is when I actually talked to you, then that’s when I understand like, Oh, I really have something in this business. And then you really apply, like, what you need to do to raise your evaluation of your business. So I think if anybody actually thinking about selling a business, or building a business that want to one day, then should reach out to you and just have a chat.
Joe Valley 27:41
Well, let’s look Thank you. Well, let’s take that folks. And just say that in order to understand the real value of your business, you do have to go in depth on the business itself. It’s not one phone call, or one glance at a profit and loss statement. There’s so so much more to it than that. Leigh and I spent a lot of time on calls together to figure out the valuation initially. And then the second time around, which was a much higher value and a much quicker exit. But look, you’ve got to do it at your own time and at your own pace. But don’t wait too long. You know, you’ve all heard Mike Jackness here on the podcast. He’s the host of EcomCrew. And Mike had multiple businesses, he knew exactly what he needed to do to sell his businesses. And he said in his mind, he would get to it someday. And then he woke up and Sunday was here. And of the four that he wanted to sell only one was sellable, because of a variety of situations. And so he was able to exit one and exit it well. But the other three, even though he’s emotionally done and ready to move on, because that Sunday was there and he woke up and it was too late to make the changes that was necessary in order to exit them all. He was able to exit only one held the other three, and it’s worked out okay, but he didn’t achieve his initial goal. So I wouldn’t wait too long. No matter who you talk to, whether it’s Quiet Light, or anybody else that you’re comfortable with, and they have a relationship with, have an in depth conversation about the value of your business. So that you learn, if they’re putting pressure on you to list your business just walk away that should never ever happen. It’s an educational process, you understand the true value of what you have, and how close or how far away from your goals that you are. And once you understand how close or how far away you are, you do become much more voted motivated in most cases, right. So Joe Cocker has been on the podcast and the first conversation I had with Joe, where he was very much like you struggled, you know, as a youth a lot a lot of challenges to overcome whether yours was language barrier and getting to know this country. His was other things and as he says I stomped on his heart. The first time we had a lengthy call, because his business wasn’t worth what he thought it was worth. But he did learn what he had to do to fix it. His goal was a million dollar exit. And 12 months later, the business was worth about a million dollars. And he was enjoying it so much more at that point. And it was so much more efficient. He set new goals, we ended up exiting the business for more than two and a half times that. So setting goals and reverse engineering a path to them can only be done properly when you do what lead it, which is have that initial phone call, go through the process. Yes, Leigh did list the business you did list it and then pulled back but that was for personal reasons. I’m glad it worked out. I’m glad it worked out for you and Ty and the families Please say hello we haven’t chatted for I haven’t chatted with him for a couple of years now. And I’m so happy and excited for you. And thank you for coming on the podcast again for the second time and being part of Quiet Giants. You’ve been so gracious with your time and experience and inspiring others. So thank you so much for coming on once again.
Leigh Huynh 31:09
thank you Joe for having me again.
Joe Valley 31:12
My pleasure. I will talk to you soon.
today’s podcast was produced by Rise25 and the Quiet Light content team. If you have a suggestion for a future podcast subject or guest, email us at [email protected] Be sure to follow us on YouTube, Facebook, LinkedIn, Twitter and Instagram and subscribe to the show wherever you get your podcasts. Thanks for listening. We’ll see you next week.