Ep 54: Selling a Business: Simple and Even Competitive Businesses That Led to Multiple Exits with Seth Farbman
Inside the Lion's Den: A Business and Leadership Podcast
English - July 21, 2021 08:00 - 37 minutes - 51.4 MB - ★★★★★ - 78 ratingsManagement Business Entrepreneurship business finances leadership operations Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
When it comes to starting and growing businesses, Seth Farbman has been "flying by the seat of his pants" for years. He has built his career designing, building, and selling companies in the completely unsexy (but incredibly necessary) world of corporate services. Today, Seth and I discuss how he got into this industry, the sale of three of his companies, and his role in his current business. Seth also talks about the importance of relationships when it comes to growth, changing skill sets over time, and sticking to what you know when you're thinking about creating a service.
Seth Farbman is a success story in the stock market corporate services realm. He is currently the Co-Chairman and President of VStock Transfer, a stock transfer agent company. This was not always the case. After working as a securities lawyer for several years, he entered the entrepreneurial realm and founded/co-founded four lucrative companies: Vintage Filings, Vcorp Services LLC, Vcheck Global, and VStock Transfer. Although businesses that catered to the same clients or served the same purpose already existed, Seth was able to grow these companies successfully by adding value and making his contributions to the industry impactful.
In this episode, we'll cover:
- The growth and sale of Seth's first business: Vintage Filings
- Utilizing your strengths and areas of expertise, even if they're not "sexy".
These are the things that are going to make you money
- Doing something that is already being done by another company, but doing it better
- Why you need to lose the ego and talk to everyone. All connections are good connections and you never know where they'll lead
- Staying on at a business after you've sold it
- The rapid advancement of technology compared to the sometimes glacial pace of the regulatory and compliance side
Thanks for listening! Head over to the show notes for links and resources mentioned during this episode.
SHOW NOTES: https://insidethelionsdenpodcast.com/podcast/episode54