Many business owners who sell their businesses wind up being remorseful, not because of the amount of money that they received for their business, but because they don’t know the next thing to do and have lost their purpose. Are you really ready to step aside from your business personally, financially, and emotionally? If you want to learn how to prepare for the sale and avoid some of the common pitfalls when selling, check out Domenic Rinaldi’s interview with Will Moore of Moore Momentum.

 

Listen to the podcast here:

Will Moore: Preparing For The Sale

Too often, I hear that sellers weren’t ready for life after a sale. There are studies out there that suggest that over 75% of owners were remorseful about the sale of their business. It had nothing to do with the economics of the deal and everything to do with what they were going to do next. I have two very close friends that are dealing with this very issue. They sold their businesses and now they’re grappling for what they’re going to do next. I can tell you, when we work with owners, we take an approach that has three legs of the stool. The first leg of the stool is always about their personal financial readiness. Are you ready personally? Is your estate in order to step aside from your business? Do you have enough money?

Do you need the proceeds of the business to fund whatever the next thing is, retirement or another venture? Is your business ready? There’s a whole host of things to go into understanding that. The last one, this last leg of the stool, emotional readiness can be very tricky. Do you have something that’s pulling you away from the business after you sell it? Do you have hobbies? Do you have the next thing to go to? If you want to learn how to avoid some of these common pitfalls when selling, check out my interview with Will Moore of Moore Momentum.

He built one of the first restaurant delivery service companies in the country well before Grubhub and Uber Eats. It’s a great story. He went on to build it and merge it with another company of equal size, ultimately then going out and rolling up smaller businesses. Trading the business and selling it to a publicly-traded company, Waitr Holdings. What I find so unique about Will’s story is he built a good business. He had a good exit, but he also had a focus on life after his business.

He does mention however that he wishes he had better prepare for the sale. One of those key things was wishes that he had had an M&A-specific attorney. We talk about this often on our show. When we talk to clients, having M&A-specific advisors to help you through what is your largest transaction is so key. Will’s outcome was not perfect, but it was still very good. There’s a lot to be learned from Will’s journey. The new business that he’s building following his passion.

Before we get into the interview, please head over to K2 Adviser. If you want to avoid common deal pitfalls, the risk of losing substantial dollars, you need to know how ready you are for a transaction. One of the things that I’ve decided to do to better support the people in our community is open up enrollment and we’re taking applications for a small number of people who need help in coaching on how to be better prepared to buy and sell a business. I’m limiting the enrollment. Email us as soon as possible if you’re interested. You can do that by sending an email to [email protected] and request info on our coaching opportunity. Being prepared is critical to ensuring that you maximize returns and you minimize risks. Thank you for being here and I hope you enjoy this episode.

Will, welcome to the show.

Thank you very much. I’m very happy to be here.

I’m interested in getting into your story, unpacking what you’ve done and what you’re doing now. Before we do all of that, could you start with a quick backgrounder on yourself so the audience understands who you are and where you’ve come from?

The wealthy get truly wealthy by generating passive income and getting their money working for them. Click To Tweet

I had a crazy childhood. I was born in California. My parents were hippies. We moved to Hawaii for five years in Honolulu. We then moved to Bethesda, Maryland, DC. I ended up going to school in Winter Park, Florida. I’m selling land. Real estate is where I got started. This company was crazy. It was like a modern-day movie where I was like this part that was during the boom and everything was going nuts. We would have these one-day blowout sales in the middle of nowhere. We’d sell 5 to 20-acre parcels and they would sell out in two minutes like hundreds of parcels. This is back 2006, right before things crashed with the real estate. One of the things I noticed is we were stuck in this office because the phones are always ringing off the hook.

There were only twelve of us land consultants. We could not sometimes leave for 12 to 15 hours. It’s barely enough time to go to the bathroom, let alone eat food. Pizza and Chinese is the regular staple. Back then, that’s all there was, which is how it had been for years and years. I’ve thought, “There’s got to be something better and there wasn’t.” As soon as the real estate market turned on a dime and we had that crash, I’d already been thinking about starting a restaurant delivery service, as people now know it, Grubhub, Uber Eats and, DoorDash-type of business.

At the time, none of these were even twinkles in these owners’ eyes. There was nothing nationally because the technology wasn’t there. iPhones came out that same year we started the company. I was like, “I need to do something. I want to be able to order good food. I want my sushi. I want my Thai food. I want my Indian. I want to be able to get salads.” I grabbed my buddy who I was working with at the company. We got together and started it up. We never looked back.

You started before any of these other platforms were there. You were groundbreaking in the sense. Were there other people around the country that you knew were doing it in a small way or had some model to follow?

There were places called Telephone Taxi. This was also right when the internet was starting to take off and you could look things up. I was looking up and seeing in a small little city, they’d have a place called Call In Your Order. I was like, “How’s the driver finding their way there?” We had to figure out a lot of the stuff on our own. At first, we only had one or two drivers, including my business partner and me. We got five Garmin GPS. We gave them to the drivers. We said, “When we get an order that comes in, our dispatchers can call you. Give you the address. You then pull over to the side of the road or enter the address and then go to your destination.” It was very archaic. As I said, right then is when the iPhone came out. It was like perfect timing because very quickly, people realized we could tie our software into the phones, to where it’s sent the order directly to them. They got the order on their phone. They hit a button. It gave them directions to where they need to go. It showed them all the info they needed for the order. That was a game-changer.

You sold that business. You rolled it up into something that then got part of a bigger entity and then that got sold. Now you’re off doing something else. I’m looking forward to having you share that journey with everybody. I can’t ignore the fact that you went from California to Hawaii, to Virginia, to Florida. That’s amazing. You moved around.

My grandfather was a general in World War II and the Korean War, so my mom moved around quite a bit. Honolulu was one of the places she was stationed. When she rebelled and became a hippie, my dad became a hippie first. They both came from these very structured backgrounds. They both rebelled. My dad grabbed my mom and said, “Let’s go.” My grandfather boycotted the wedding. He didn’t talk to my mom for ten years because she married a hippie and he was this general. As they started their journey, they thought, “Where’s a great place to be hippies and live off the land.” Hawaii was right to the top of the list. My sister lived in a van for the first two years of her life. I was fortunate enough where I was born. About six months later, we moved into this very tiny little apartment.

You grab a buddy. You’re building this company. Did you build it with the intent that you were going to build something up and then sell it? What was your thinking when you started the business?

MAU 65 | Selling Your Business

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

I read a book right at that time called Rich Dad Poor Dad by Robert Kiyosaki. You and a lot of your readers are familiar. It was a game-changer for me. It got my mind thinking of passive income-generating, “Here I am working for every dollar.” I saw how the wealthy get truly wealthy is they generate passively. They get their money working for them. They use the Law of Compounding. I said, “I need to get that goal.” When I had this business idea, around the same time I started getting into real estate as well because that’s a big focus of Rich Dad Poor Dad.

I got a loan. I bought a property and it turns out very serendipitously. I went to Rollins College in Winter Park, Florida. There wasn’t enough housing on campus. There were a ton of students looking for housing. I started running these things out and I was generating enough income over what my mortgage was to where I was able to sustain my living at some point. That’s how I was able to quit my job at Florida Land Partners, where I was selling land. I had enough money coming in to get me through, to start this other business. At the time, there was this huge demand. I knew that people wanted food. My buddy and I said, “It’s either now or never, let’s take a chance.” That’s what we did.

How long did you spend operating that business before you were approached by this other company that had plans of doing a national roll-up of a food delivery company?

We’re humming along for about seven years, hardly any competition. Any competition that came in was these little players. We squashed them like bugs. We’re self-funded. We didn’t raise any money or get any venture capital. We did it ourselves because I’d read enough books and knew the horror stories about how to give somebody control of your company. It could be a nightmare. We bootstrapped it. It was very tough for the first couple of years. When we started to make a profit, we were a profitable business. Around year seven is when the Grubhubs, the Uber Eats and Amazon for a while even had their own delivery service, and Postmates, all these companies started appearing with billions of dollars and losing money hand over fist in order to gain market share.

I looked at my partner and I said, “The writing is on the wall here.” There’s no way we’re going to be able to compete long-term for this. We had a great run. We had a great business model. They’re all coming into our territory. At this point, we’ve grown into nineteen branches throughout the Southeast. Orlando was the first one that we started. We were all over Florida, Miami, Tampa, and all the big cities in Florida. We were also up in Nashville, areas in Tennessee, South Carolina and Denver. We’d grown. We had a franchise. We had corporate locations.

One of our crossovers happened to be with this gentleman in Miami, this company called Bite Squad. We were running ours and they were running theirs. They were competition, but I always had a friendly relationship with the other owner. When I saw all these companies opening up, I immediately got on the phone. I remember him saying, “We should keep in touch, and maybe one day, we’ll even consolidate.” There was a little bit of talk about that. I said, “We got to do something here. You are similarly sized as us.” They were based out of Minneapolis. They were doing about $35 million at that time.

We were doing about $40 million a year. I said, “What do you think?” He got his partner on and we discussed it. Within a day, we were like, “Let’s make this happen.” They also had better software than us, which was huge because all these new companies coming out had good software. That is the differentiator, the user experience using your phone. By this point, the iPhone had come out the year we did it. It’s 5, 6, 7 years later and it was a science. Certain companies that were spending the most on the software and user experience work excelling and they had it good. That’s how that started. We got together and we formed this partnership.

Was it a merger of equals or were they the majority? How did that transaction transpire?

We ended up agreeing to let them be the majority. It was like 51/49 at the time. We called it a partnership, but the way we ended up structuring it was they essentially bought us. They raised money and they were planning on raising more. They bought us with almost all stocked with the notion that we all were on the same team, same idea frame of let’s grow this. Let’s put a bunch of money into it. Let’s expand into these tier 2 and tier 3 markets, which were not the New Yorks, the Las, and the Chicagos. The Nashvilles, the Orlandos, those ones that weren’t on the big guys’ radars. They were spending all their money going to big ones.

When you’re selling something that you’re passionate about and truly believe in, you’re an unstoppable force. Click To Tweet

We said, “Let’s dominate these small ones.” We knew from experience that when a customer has a good experience with us and they’re a regular customer, they’re not going to switch just because. They may get one order because they get a free order. If they have a good experience with us, they’re going to keep that. That’s what we did. We started growing and then we’d raised more money. We started picking up these smaller markets. We got on the radar of Waitr Holdings out of Louisiana. They purchased us as a whole.

Let me go back to the actual transaction where you hooked up with Bite Squad. You do the transaction. You and your partner stayed with the business in active roles and continued to operate actively?

At first, we did. We got titles. I was in mergers and acquisitions. I was part of being one of the ones that went out and found these RDs that were ripe for being purchased. That was my partner and me. We were both doing that. There’s a Restaurant Delivery Service Convention that happens every year. I’ve been going to that for years. I knew a bunch of these smaller mom and pop ones and these little cities that would be perfect to join our network. I started reaching out to all of them. I also did some research on some other ones I hadn’t met yet and started contacting them and was able to bring on several of them.

I’m assuming that at this point in time you had never done a merger and acquisition when you started to talk to Bite Squad, is that correct?

That’s exactly correct.

How did you go about those negotiations and those discussions? Did you hire professionals? Did you seek advice from other people? How did you know how to value your business? Where did you go to get all that information so you felt comfortable at the end of the day that this was a good deal?

Whenever you do something like this and it’s a first time experience, you always have the hindsight of saying, “I wish I’d known this.” Without getting in any sticky details, we ended up not, it turns out to make some of the best negotiating decisions that we could have. We would have changed some because it ended up biting us slightly. We got through that. We had a very friendly relationship. We did end up getting bought by Waitr. Everything’s all puppy dogs and ice cream, but we were relying on our attorney. He’s a great attorney, but she wasn’t super experienced in these either. Their attorney wrote the contract. Our attorney is going in and saying, “This and this.” There are always unforeseen things. Unless you’ve been doing it for a long time, you don’t see. We did get hit with some of those. I wish we hired an expert in M&A before.

We all go through life and we learn lessons. Some of them are more painful than others. This worked out well for you at the end of the day. What you’re highlighting here is two things that I talk to people about often, after my decades of doing this are, one, do some preparation in advance of doing a transaction. Secondly, hire people who are experts at M&A. Not just M&A professionals like myself, but the accountants and the attorneys. There’s a big difference between an attorney who does a lot of real estate transactions and somebody who lives and breeds M&A transactions. The things that they’re faced with every day in the M&A world are not the same things that a real estate attorney or an estate attorney is going to be faced with. It’s a cautionary tale sometimes, but this all worked out for you.

MAU 65 | Selling Your Business

Selling Your Business: If the customers have a good experience with you, they’re going to keep that.

 

It did. We were fortunate to get bought by Waitr. It still wasn’t an all-cash deal. That ended up being half cash and half stock. As of now, I’m still holding on. I haven’t sold any. It had quite a tumble. If you look at history, WTRH is the symbol. It got very scary for a hot minute there. We had a six-month hold, which is standard. When you get purchased, you can trade your stock for about six months. We watched it go from $10, the day we closed, which was about February of 2019 up to $15. It went all the way down to $0.33. All this was when our hands are tied and we couldn’t do anything. The company that bought us was not managing it the best.

They had a turnover and it was taking longer for them to integrate our company with theirs. The expenses were ballooning. The first couple of quarters of earnings were absolutely disastrous. It was being priced as a bankrupt company. We were beside ourselves. It’s my baby. I’ve worked my whole life for it. We did at least get some cash. I had that so that was good. To watch your net worth go down that fast, but they were able to turn things around. They finally had that made money. They weren’t expecting to make money until the end of 2020. They made a penny per share. The stock has come back quite a bit. It’s trading at around $4 or so now, which is still down from the $10, but way up from the $0.33.

They are only paper losses. You keep your fingers crossed and hope it keeps going in the right direction. It seems like this is a segment that’s not going anywhere, especially right now. Food delivery seems to be one of the big winners here during the pandemic.

It’s red hot. There’s fortunate. There are unfortunates. You’ve already heard some of the rollercoasters. You got to have a temperament. Starting your own business and then selling it, you got to have nerves of steel because if you let it get to you, one day you’re up here, the day we sold, I’ll never forget that feeling. It was amazing. Watching it go down, it was an awful feeling and then coming back up. It went up to around $6 and now it’s come back down to $4. At the end of the day, the reason I’m holding all my stock is it’s a great segment. People are only ordering things more and more online. Amazon is an unstoppable beast.

People are used to hitting a few buttons and getting what they want. Food is one of those things. I do think it’s a great space to be in. The elephant in the room is you’ve got Grubhub and DoorDash are the two biggest competitors. I don’t know if you’re familiar. Grubhub got bought by a company called Just Eat out of Europe. Uber Eats bought Postmates, which is another competitor. They bought the Postmates. There are only two real big ones and us. We’re the third. We’re smaller than they are. To me that makes us a very compelling M&A target.

Can I talk a little bit about the roll-up strategy? You took over the mergers and acquisitions role. You hadn’t done that before. How many transactions did you complete? Talk a little bit about your experience there. There’s a lot of people in our audience who see growth through acquisition as a viable growth alternative. Talk a little bit about your experience there.

I enjoyed it. Something in my DNA and the reason I started my own company and did my own thing is I liked to call my own shots, work my own hours and work with people. If I can do something where I put those three together and if I’m selling something that I’m passionate about and truly believe in, I feel like I’m an unstoppable force. It wasn’t terribly difficult. I shouldn’t say it wasn’t terribly difficult. I probably talked to 200 companies that at the end of the day, maybe we got 4 or 5 of the ones I talked to on. These were pretty big deals. It was a very interesting experience because I’m reaching out to some of these people. I knew some of these people I didn’t.

I’m basically saying the same thing that I was thinking when we rolled up, which was, “I’m not here to try to put the scare tactics on you. That’s not my style.” I’m telling you what I see and why we rolled up and merged with another company. I see major roll-ups in this industry and these guys are coming in hot. Right now, they may not be in your market, but they’re going to make their way to the smaller markets, tier 2 and tier 3 cities very soon. It’s been a couple of years that they aren’t most of these markets now. Some of the people that didn’t come on with us I know have gone out of business. It’s very difficult to compete with that type of thing.

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Keeping the drivers is your biggest challenge. These are independent contractors. You can’t tell them what to do. You can’t tell them they have to show up, but you need a certain amount of them in order to be able to get the food delivered hot and fresh and on time to your customers. Let’s say it’s a rainy night, you got 20 drivers. You need 30 drivers. You’re going to get a lot of people that are getting their food late. Sometimes you’d have to then stack orders and you have multiple orders with one driver. The food sitting there, which we always did that as the last case. Sometimes you got to do what you got to do. That’s a real challenge. That’s why, in my opinion, Uber Eats out of everybody has the biggest advantage. That’s why they are doing very well. They’re growing rapidly because they already have all those drivers out. It’s easy for them to be like, “You’re driving around anyways looking for humans to drive around, go take this order.”

What you’ve highlighted here is you contacted 200 people. You got four deals done over the space of, I’m assuming a couple of years, it’s hard work. Acquisitions like that are tough. It becomes a numbers game at some point in time and you have to have a compelling enough story. There’s got to be a win-win on both sides. The other I want to talk to you about, which I found interesting in getting to know you is that while you were doing all of this, you had this plan for something else that you would do with the rest of your life. The reason I find that so interesting is many owners who sell their businesses, wind up being remorseful. Not because of the amount of money that they received for their business, but because they didn’t have the next thing that they were going to do, or their business was such a big part of them that now they roll out of their business and they don’t have any purpose.

Depression might set in or whatever happens. It’s a real thing because I have some personal friends right now that are going through this, they sold their businesses. They’re young. They’re in their ‘50s. They got a lot to do, and they’re struggling with what the next step is. I’m seeing it firsthand with some close friends, but you didn’t have that situation. You had a plan. Why don’t you talk a little bit about what you’re doing? I want to wind back the clock a bit and talk about, when did you start thinking about it? How did you develop those thoughts and follow your journey?

One of the things I tell people when you haven’t hit it big, made it or hit that pot of gold, it’s in our DNA to chase that. I have these five core areas that I have found everybody shares and are super important and you need to nurture and find balance in all of them. Most of us focus on that career and that finance one. Especially in our younger years, it’s that’s what it’s all about. I was one of those. The good news is I was also using myself as a human science experiment and reading a ton of self-help books because of something I didn’t get into, but I hit my rock bottom in college. I was suicidal. We moved around a lot. My mom was an alcoholic and was abusive.

My parents got divorced. I was your typical victim. My life sucks. Life is out to get me. My brain’s broken. College was my rock bottom. I serendipitously got turned onto a book called How to Win Friends & Influence People by Mr. Dale Carnegie, which was written all the way back in the 1930s. You read it now and it still stands out as like, “This is an amazing book.” Other than some dated references, which if you get the latest copy of that, somebody might as well write it yesterday. It clicked with me. There are universal principles in this world. Especially in this day and age, everybody’s grasping and looking for like, what’s the answer? How do I be happy?

At the end of the day, that’s all we want. We all want to be happy. We all want to live our best possible time on this earth. As I’m going through this journey of my career and finances, which for sure took the center stage for a good part of my life, I realized how important these other areas work as I continue to read and self-help books and was trying to nurture my physical health, my relationships, my emotional health, and my mindset. I realized that it was because I was nurturing those things, not despite of is the reason I became personally successful in my career in finance because they all tie together. In other words, your mindset is your first core that I talked about. It’s the most important, in my opinion, because it’s basically, “Are you an owner of your life or are you a victim?”

I started out as a victim and I slowly started realizing it’s up to me. I can be whoever I want. You slowly start to take one step after another. You start to gain confidence, have success, and gain more confidence. I realized I can do anything. Obstacles are temporary roadblocks waiting for solutions. I can kick ass, take names and there’s nothing that’s going to stop me. That’s not something you can flip a switch. It takes time, building confidence and having successes. It’s all tied together. When I’m exiting this, I’ve been working on the side. I’m a crazy note taker. I got thousands of pages of notes. I would always write down, this worked, this didn’t. I read this over here. “Let me try it in my own life.”

I was like, “I got to do something with this.” When we started to merge, I started thinking about it early on, “This may be my chance to write this book and get this information out there.” I had my first child and now I have another son. I have boys. I was like, “If nothing else, I can give this information to them. I can hone this information and do a simple system that they can use and help them not to have to go through the same thing that I did.”

MAU 65 | Selling Your Business

Selling Your Business: People are used to just hitting a few buttons and getting what they want, and food is one of those things.

 

You had this planned all along. Before we get into it, I got to share this because that is so surreal for me. There’s only been one birthday that has ever bothered me in my entire life. I don’t think it’s going to bother me. Twenty four, for some reason, bothered me. I was uncomfortable. I felt like I was stagnating. I didn’t know what I was going to do. I’ll never forget this day. I took the day off from work and somehow or another, I rambled into a bookstore. I buy How to Win Friends & Influence People by Dale Carnegie. I read that book in one day and it changed the entire trajectory of my life completely. It’s so funny that you mentioned that book. I didn’t want to interrupt you as you’re talking about, I’m like, “I can’t believe it.” What a great book? I’ve given it to my kids. I don’t know that they’ve embraced that. I hope someday they’ll read it. It is a life-changing book. It was written back in the ‘50s maybe. It’s a long time ago. It’s true all the messages and even until now.

Self-help are what I’m trying to do. I call it the Momentum Movement. It’s all about building momentum in your life versus positive momentum. I talk about it by doing it through habits in each of your five courses. The system that we’ve gone through, the schooling, the parents, the peers, the media, unfortunately, it’s a bit broken, in my opinion. It needs to be revamped. You develop these what I call failure habits in each of these areas. The key to life, in my opinion, is putting a big spotlight on your life and saying, “What’s hurting me. What’s not helping me in each of these areas? How can I replace these failure habits with success habits that I can start building positive instead of negative momentum?”

That book, How To Win Friends & Influence People, t’s one of those things where in the book and what I talk about is it’s all about these universal principles that have been around since the beginning of man. They’re going to be around until the end. You can’t cheat the system. You can’t work around them. Things like How To Win Friends & Influence People, if I could sum up that whole book in one sentence, it would be stop putting all the focus on yourself, make the other person feel important and special, and you’ll never have any problems with human beings. That’s it. It’s that simple, but it’s like how we go about it, how we do it, remembering that. It’s in our DNA again, to be selfish, going back to caveman days. We were surviving for food.

Even though we’ve evolved as a society, our brains still have that primordial me, me selfish type thing. That doesn’t serve us though in relationships and in business. Those that can rise above and see from that 10,000-foot view and tap into their higher versus their lower selves. Legitimately put the focus, listen to what the other person’s saying, be empathetic and make them feel special and say, “How can we work together?” versus I’m here. This is my ego. You’re saying this, which is what most people do, which amazes me.

We’re watching this play out almost every day on Capitol Hill between the different parties. They can’t get there because their egos are too much in the way. They can’t give in even an inch. The public’s going to pay the price. If you could give an overview of your new entity and the five components and how you approach people?

As I briefly mentioned, everybody’s life is composed of these five courses, the main areas of your life. It’s your mindset, which I briefly described. It’s your overall perception of the world. It’s your attitude. It’s your confidence. Is the glass half empty? Is it half full? Are you a victim in life? Does it say, “Poor me, there’s nothing I can do about it, my brain’s broken?” Are you an owner that says, “I’m an unstoppable force? I know that I have certain traits and awesome qualities. There are certain things I don’t do so well, but everybody has that. I had to do workarounds on those people on the stuff that I’m good at. Let me kick ass, take names.”

The next one is your career and your finances, which most people tend to spend most of their time. That’s not about what the mistake most people make, it’s about making money. If you’re doing something where you’re making a lot of money and you’re not happy or you’re not enjoying it. You know you’re doing bad to the environment or to the world, you can’t get around the fact that it’s not going to feel as good. You can try to convince yourself. That’s what most people do. If I make more, I’ll feel better. That’s not how it works. You got to have a purpose. You got to know what it is inside of your soul, your passion about what your strengths are. You’ve got to put those to work and start using those steps.

When you wake up every morning, you’re like, “Yes, I like what I do.” Are there going to be tough days? Of course. If overall you’re loving what you’re doing and you’re figuring out how to make money doing that, you’re going to be good at it because of that, because this is something that you’re passionate. It’s going to separate you from the rest of the herd, or instead of you trying to mimic other people. The finance side of that is learning basic stuff. With Rich Dad Poor Dad, passive income, using the law of compounding, investing, how to do it wisely. Looking at trends throughout the history of the stock and the real estate market, instead of blindly doing stupid things.

Obstacles are temporary roadblocks waiting for solutions. Click To Tweet

The next one is your relationships. We talked briefly about that as well. I break that into three categories, which is your acquaintances and colleagues or people that you’ve come across in life. You’d be a perfect example of that. Are you looking down with your head down and are you looking at your phone? Are you smiling when you walk by people in the office? Are you trying to build connections, relationships, allies, which you don’t know where they could lead? Oftentimes, they’ll end up becoming this amazing thing. Most of us, we do it. We go through life like this.

You’ve got your friends and family. In this day and age, unless it’s your immediate family, a lot of people tend to take friends for granted. They like their picture on Facebook or they’ll send them a text once in a while. When’s the last time you proactively got together with friends? Are you regularly incorporating that? We need that face to face as humans. It’s hard to do right now, but we also are fortunate, we at least have the stuff like Zoom and what we’re doing to help get us through that.

The last is your significant other. You don’t have to have one to be happy. I know people that are single that are happy. If you do have one, how are you looking at that relationship? Are you a team? Are you going like this together? My answers are going together and you’re working or you’re butting heads. It’s an ego me versus you because you both came into this world with different backgrounds completely. You’re not the same person. We forget that as humans. We want to force that person to see that the way we see things. We make assumptions and we do this and that’s why people end up in divorce.

My wife and I have these things called agreements. It’s like, “This is how I see the world. This is how you see the world. Let’s see how we can merge the two,” because we kept having the same fights over and over. I read this book about it. It was like, “If we learn that you see it this way, I see it this way and we can meet in the middle, that argument goes away.” That’s a good example of working together versus continuing with your ego. The next one is your physical health, which is pretty self-explanatory, working out, eating, sleeping, exercising, and these things.

What I tell people with that is don’t try to go run a marathon if you hate running to be your exercise. Don’t go to the gym if you hate weights. It’s like do something that you enjoy. There are plenty things to get your body moving that you can do that you love. My wife loves running and swimming. I hate both of those. I play basketball. I like to move that way. I go for long walks with my dog. There are lots of different ways to get it done. It’s the same with eating. You don’t have to eat stuff that tastes like cardboard because you think you should. There’s plenty out there now that tastes good. That’s good for you. You got to do some research.

The last one is emotional health and giving back. Are you running through life like a chicken with your head cut off, not enjoying life with your head down like, “I got to get through life? I got to do the next thing to do.” Are you stepping back and saying, “I love to play golf, I love to do this, I love to dance?” Are you incorporating these things regularly and proactively in your life? If you don’t, put them on your calendar, especially you get kids, you start to get older. It doesn’t happen on its own. You got to make it happen.

Before you know it, you could be working all the time and you haven’t scheduled these things in your life. That’s super important. Also making sure that you know how to handle stress and decompressing and not dwelling on things. That’s a whole another section. The last one, the giving back part is what legacy are you leaving? Is the world going to be better or worse for having you in it? That’s the main question you want to ask. Am I doing good in this world? Are people going to look back and be like, “Thank God, he’s gone. He sucked the soul and the energy. He was greedy. That guy did some good things. He was trying to help and make people better and he left a nice little legacy.”

Will, how do you deliver this information? Do you do one on one coaching? Is it group coaching?

MAU 65 | Selling Your Business

How to Win Friends & Influence People

I’m not making any money doing what I’m doing. I’m mainly focusing on working and finishing the book. There’s an app that is going to go along with the book that I’m super excited about. The app is going to be essentially a way to gamify this entire experience to bring that younger generation. Like you said, you were 24. You’re like, “Where am I? What’s going on?” I was suicidal right around 21. I want to tap into that younger generation that may have gone through a broken system that’s about to enter into the real world. The app is gamified. You are a rocket ship. You have your five course. It’s the cylinders of your engine. In order to fly off to the next planet, the next galaxy be able to get through the asteroid fields, meet crazy aliens along the way and all these fun things.

You have to figure out a way to balance your five course. You have to make sure that you’re firing on all cylinders. The only way to do that is through these habits. The app has a fun way to say, “What happens if you’ve developed in each of these? Let’s focus on one at a time.” You got to start small. If you try to do it all at once, it’s not going to happen. You start very small on one little core on one little habit and you start to chip away on it. The cool thing about habits, they don’t care if they’re good or bad, helping or hurting us. They’re going to do their thing no matter what.

If we’ve developed a bad habit that’s hurting us and building negative momentum, the universe is propelling us in that direction and our brains are trying to conserve energy. If we’re able to do some front-loaded work and say, “This is hurting me” and it’s not going to be easy. You’re going to have to do some work to unhinge that habit that’s dug its claws and deep. All of a sudden, you replace it with something that is helping you, then it goes on to automatic as well that is helping you build positive momentum.

I love your journey. I love how you built a business from scratch. You monetized it. You had an exit, but you also thought about what you were going to do next and now you’re making that happen. The components of your framework are awesome. I look forward to seeing that app. Will, if people wanted to get in touch with you, how could they reach you?

My website is www.MooreMomentum.com. On Instagram, it’s @5CoreLife. People will enjoy it. It’s daily things like I’m talking about now. I like to try to add fun into it and help people learn lessons. At the same time, like I said, with the gamification, having fun and becoming better sales, but not feeling like I’m getting some lessons from somebody.

I love the transparency, the information you shared and the authenticity. It’s great stuff. It’s a pleasure to have you here, Will.

Thank you so much. This has been a pleasure. I appreciate you having me on. It means a lot. Thank you.

I hope you enjoyed this episode. If you enjoy our content, please remember to subscribe and review our podcast. I look forward to seeing you again on our next episode. Until then, please remember that scaling, acquiring or selling a business takes time preparation and the proper knowledge.

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About Will Moore

MAU 65 | Selling Your BusinessWhether it’s real estate, restaurant delivery, or one of the other ventures he’s helped pioneer, Will has always had an uncanny knack for capitalizing on trends before they happen. And his newest venture is no exception. He is tapping into the current momentum of the up-and-coming generation finally realizing that there’s no shame in wanting to be their best selves.

But this isn’t as much a business venture as it is a movement. His purpose: Help others become the best version of THEMselves so they can pay it forward to help the world become the best version of ITself.

As a successful business entrepreneur, Will has discovered that a person’s career & finances are just 1/5th of the equation. REAL HAPPINESS involves “firing on all cylinders” in the FIVE CORE areas of your life. And his above purpose involves helping people do this with his unique, industry disruptive system.

The first piece of “The Momentum Movement” will be an app that combines the latest in science and technology to make self-improvement fun and addictive. The core notion is to help the user stop the failure habits in each of the five core areas of their life, and replace them with success habits. The app will incorporate a gamified experience to make sure that when the user levels up on screen, they’re also leveling up in real life.

His 2nd piece is the book he’s spent the last 25 years writing that will delve into the information side of sharing the best of the best of the immutable principles he’s learned. He’ll teach the reader how to use their five cores to fire on all cylinders, enhancing the app experience.

To learn more about Will, join the movement, and/or sign up for the beta version of the app, go to https://www.moooremomentum.com.

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