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Michael Good
  • Male
  • Downingtown, PA
  • United States
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Michael Good's Discussions

On selling a business

Started this discussion. Last reply by Michael Good Feb 21. 8 Replies

I'm looking to move in a different direction later this year, from one business to another. My question is, where can I go or who can I talk to about the possibility of selling the first…Continue

In need of a brilliant idea!

Started this discussion. Last reply by Richard Haralson Jul 27, 2014. 10 Replies

So, I'm thinking of starting a little window washing business which Dan Miller talks about in "48 Low Cost Business Ideas".  My question concerns receivables. I'd like to be able to do it early in…Continue

Tags: ideas, getting, paid, suggestions, business

rise365

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Michael Good's Page

Michael Good's Blog

When the Door Closes

Posted on May 20, 2013 at 12:23pm 2 Comments

photo by pixtawan via freedigitalphotos.net

What do you do when the door to something you’ve been working long and hard on closes? Your business idea flops, you don’t get that breakthrough you were hoping for, your dreams are dashed.

It’s so easy to get stuck in a place of…

Continue

Your Reach is Greater Than You Realize

Posted on May 14, 2013 at 1:23pm 0 Comments

photo by Matthew Field

We affect more people than we realize. We affect the barista at Starbucks when we buy our coffee, our clients and coworkers, and certainly our dearest loved ones. This is a powerful blessing and a huge responsibility and needs to remain in the forefront of our minds.

Claudia…

Continue

How I Got Free Water Ice for 100 People [VIDEO]

Posted on May 6, 2013 at 12:00pm 0 Comments

I recently donned my door to door salesman hat and was extremely successful selling ad space to local businesses for our music school’s spring concert program.

In the video below, I share five key elements which helped me cover our $400 concert expense, get FREE water ice for 100 people, and get FREE printing for all our programs.  All this in only 3 hours of my time!…

Continue

My Latest Failure

Posted on April 29, 2013 at 11:53am 4 Comments

photo by Zach Klein

Recently, I gave a free class at one of our local libraries. My purpose was to build the student base at our music school. I have done these classes in the past and they have been extremely valuable for us. We have actually gotten more than half of our students this…

Continue

Profile Information

How did you hear about 48Days.NET, and what do you hope to get out of being a part of this community?
48 Days Podcast
What is your current work situation? Employee, self-employed, generating any income on your own?
Full time in two businesses. Soundboard Music School were we give music lessons, and a business where I sell products on Amazon.
And then...what is your goal/dream for your work life?
To continue to grow my Amazon business and get into creating some of my own products.
How about your personal life? Any specific goals or achievements or dreams you are pursuing (or want to pursue)?
I am married to an incredible woman, Claudia, and we have to beautiful children, Jude (3) and Evelina (1).

A few of my 2015 goals are to transition fully into my Amazon business, sell my music school, run a half marathon, read 25 books, and take a week long family vacation with my wife and our two kids.
What would you say are your strongest talents? How are you 'wired' and what can you offer to the world (it's OK if you don't know yet, but knowing is key to pursuing your dreams!)?
I'm a D/C on the DISC profile and have Achiever at the top of my Strengthfinder strengths.

I like to move. I like to get things done. And I love to meet new people!
Do you have a website presence anywhere?
http://rise365.com
More than one website?
http://soundboardmusicschool.com
Feel free to share your Twitter name, Facebook page, and any other social media way to connect with you!
Twitter: http://twitter.com/michaelmgood
Instagram: http://instagram.com/michaelmgood

Latest Activity

Michael Good replied to Michael Good's discussion On selling a business
"Great points, Luke. I hadn't thought about it like that. But I guess the type of person who would buy an existing business is different than the type of person who would start one. Perhaps I'm approaching it only as someone who would start…"
Feb 21

Group Leader
Luke Townsley replied to Michael Good's discussion On selling a business
"There is less perceived risk involved in buying something that is already going and profitable as well as a bit more of a hedge against "invaders". If you have a business credit history it can also be easier to get loans.Also some people…"
Feb 21
Michael Good replied to Michael Good's discussion On selling a business
"I think you're right, Luke. The teachers totally could rebrand and keep doing it on their own. This would be attractive over them actually buying it especially if they went to keep it part-time. They are part-time. For me, it a full-time gig…"
Feb 21
Michael Good replied to Michael Good's discussion On selling a business
"Hi Pete, thanks for your input. I think you're spot on with what I'd actually be selling.  In terms of value, wouldn't it be less than the net revenue? For easy math, let's say the business nets $100,000 and it might take…"
Feb 21
Pete Herrick replied to Michael Good's discussion On selling a business
"Great info already.  To boil it down, I think you'd be selling two things: 1.  Your book of business (existing clients). 2.  Your name (reputation). If one of your current teachers were to go out on their own and start an…"
Feb 21

Group Leader
Luke Townsley replied to Michael Good's discussion On selling a business
"I'm not an expert in this area, but generally in these types of businesses, the main benefit to your buyer is they get to keep their job or create a job for themselves if they aren't already in your company. There often isn't much…"
Feb 20
Michael Good replied to Michael Good's discussion On selling a business
"Hi Luke, thanks for the input. You're right. I'm very involved in the running of the business. I do quite a bit of teaching myself, in addition to managing the other teachers and the school as a whole.  I've thought about the…"
Feb 20

Group Leader
Luke Townsley replied to Michael Good's discussion On selling a business
"A big question is if the business can keep running without you or if you are essential to its operation as is typical for an operation like this. Your best bet would probably be to make a deal with one of your teachers or someone close to…"
Feb 18
Michael Good replied to Mark Johnston's discussion SHOULD I start a business?
"Hi Mark,  Maybe the question isn't "should" you start a business, but do you "want" to and do you have something of value to offer to others. If the answer to those questions is yes, I say go for it! Try some things on…"
Feb 17
Michael Good posted a discussion

On selling a business

I'm looking to move in a different direction later this year, from one business to another. My question is, where can I go or who can I talk to about the possibility of selling the first business? It's a service-based business where we offer local in-home music lessons. It's myself and I have a staff of four teachers that teach for me as well. I would love some feedback on business valuation, and just generally how the whole process works. And even if this is a viable option all together. Our…See More
Feb 17
Michael Good joined Raun Lauterbach's group
Thumbnail

Earning on Ebay, Amazon, and Etsy

Explore ways to earn extra cash or build a business on Ebay, Amazon, and Etsy.  Buying, selling, sources, wholesale, dropshipping, etc.See More
Nov 5, 2014
Richard Haralson replied to Michael Good's discussion In need of a brilliant idea!
"Michael, How did it go? Did you start the business? What type of clients are you servicing, residential, commercial? How are you getting clients. What have you learned? Thank you, Richard"
Jul 27, 2014
Michael Good commented on Joanne Miller's blog post Our "Baby" is Here!
"A big congrats, Joanne and Dorsey! Looking forward to reading it. "
Jun 14, 2014
Michael Good commented on Josh Schukman's blog post I launched my website!
"Well done, sir!"
Mar 31, 2014
Michael Good commented on Joanne Miller's blog post VALIDATION
"Joanne, I've been amazed by how simple words of encouragement can mean so much to others. But when I think about how much they mean to me as well, it's no surprise. We ALL need to be validated! Thanks for the post!"
Mar 31, 2014
Michael Good liked Joanne Miller's blog post VALIDATION
Mar 31, 2014

Comment Wall (6 comments)

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At 10:23am on February 20, 2012, Andy Lewis said…

Here's what I came up with, Mike. If you like it, I can create a grayscale version for business cards, letterhead, and the like. I chose the mustard color based on your website.

At 6:16am on December 10, 2011, Archie Winningham said…

Michael,

Thanks for the friend request! It took me to long to accept. I just noticed, but I promise to get better at this!

Hey, also glad to see your wife has became a 48 Days member! Awesome!

Have a SUPER sensational Saturday,

-Archie

At 3:02pm on December 7, 2011, Sarah Wooten said…

Woo!  I have you thank!

At 6:48am on May 5, 2011, Brent Green said…
Michael
Great to have you in the calling group.....thanks for contributing the way you have been.
Thanks,
Brent
At 3:11pm on March 9, 2011,
Group Leader
Kent Julian
said…
Hello Michael,

I try to take time each week to welcome new members to 48Days.Net. So, let me say "welcome" to you! I know you will find this to be a great site filled with people who are experiencing true success in both life and work.

Also, I'd like to point out that one of the best places to connect with other liked-minded people here is in the GROUPS section. There are groups for just about every interest you can think of, and if you can't find a group that interests you, you can start one. Groups are my favorite part of 48Days.Net!

Finally, if you happen to be a speaker or author (or want to become either), check out these two groups. They are two of the most popular groups on the site because of all the great conversation taking place:

* Speak It Forward -- REAL Success and Profit for Speakers!
* Write It Forward -- REAL Success and Profit for Writers!

Again, enjoy 48Days.Net. It's a great place to be!

Live it forward,
Kent Julian
www.liveitforward.com
At 7:01pm on March 7, 2011, GREGG PECHMANN said…
Welcome Michael!

Just wanted to say hello and welcome you to this great website.

You will not find a better group of people to help you get to a higher place of excellence. The best advice I can give you is to get involved.

Take advantage of the wisdom....you will not regret it!

Please let me know how I can help in anyway!

In His Peace,
Gregg Pechmann
My Book:"Upside Down"
Newsletter: Fighting Back Financially News (2 Free Books)
Website: Fighting Back Financially

 
 
 

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