Built To Sell Podcast Interview With Dennis Hart - Selling His Business Shows How EBITDA Equals Your Value

Carrie Hartunian Smith of Smart Marketing Consulting, a business in CaveCreek, AZ, is proud to announce that they have arranged a podcast interview with entrepreneur, direct response and ministry media expert, Dennis Hart on Built to Sell Radio program hosted by John Warrillow.

John Warrillow is the host of this successful podcast, author and creator of a tool to help business owners assess the “sellability” of their company.

Dennis Hart was the founder of a successful media company, Apex Media Sales, Inc., which generated over ¾ of a billion dollars in revenue from the time the business opened in 1993 through sale of company in 2007.

Apex Media was a unique hybrid media company within the Direct Response market. Having success working with broadcast television stations, local, regional and national cable networks, increasing their quarterly budgets, Apex’s explosive growth had much to do with creating an Ad Agency division, for many top direct response and ministry brands.

Carrie Hartunian Smith explains: “Dennis speaks about some of the core values that made Apex so successful, but focuses on how although he was able to sell Apex for an impressive 7 times EBITDA (approx) - the realization that the company did not sell for a higher multiple was a struggle during the negotiation process. So much so, that Dennis walked away from the complex negotiations multiple times. A powerful take away from this interview was - despite how successful the company was for 14+ years, it does not mean you’ll get the payout you are expecting.

The interview demonstrates the importance of clearly understanding how EBITDA impacts one's business before beginning the process of selling one's company. To listen to the complete interview, people are encouraged to visit the Build to Sell website, where the podcast has been posted.

During the interview, John Warrillow asks Hart to share his thoughts on how he knew it was time to sell the company.

Hart explains: "I've gotten to appreciate timing over the years, specifically when playing in the world of stocks. You want to get in on the low and sell on the high. When I set out, I said to myself I was going to grow this company and I wasn't going to dwell on an exit strategy. I was going to make myself ready when the timing was right. I don’t think I fully understood at the time, but the timing on this acquisition was perfect!”

Dennis Hart hopes that, through his interview, he can inform entrepreneurs and business owners about the importance of EBITDA months or even years prior to thinking through a successful exit strategy. Entrepreneurs living off their business will have a harder time receiving a higher multiple if they have not taken this into consideration.

Part of the acquisition negotiations were centered around Hart’s future role within the company. The acquiring company asked Hart to stay on as Vice Chairman.

Recently the parent company closed the infomercial division of what once was a thriving media organization. Hart continues to enjoy semi-retirement, as he leads the media initiative for one of the largest, most prestigious ministries on television today.

Episode #44 Multiple of What? On Built to Sell Radio podcast continues to be ranked the most popular on iTunes.