Positively West Virginia
Positively West Virginia
Episode 31: The New Bridge Between Buyers and Sellers of Businesses in WV

Sunbelt has an extensive network that will enable you to find your dream business. Based on your industry and location, Sunbelt professionals will search thousands of business-for-sale listings to find the business for you. Once an acquisition target is determined, the Sunbelt professionals will walk you through the negotiation and acquisition process.

Show Notes:

  • 00:31-3:57: Jim introduces today’s guest of the show, serial entrepreneur, John Lichter, and his company, Sunbelt Business Advisors of Morgantown. Jim asks Lichter to give the audience to fill in some gaps from his intro and to shed some background on his personal life.
  • 3:58-4:46: Lichter tells the audience where he’s from in North Carolina and what brought him to West Virginia. Lichter attended WVU and later came back to live in the place he loved.
  • 4:47-5:02: How did you get interested in the business brokerage business?
  • 5:03-6:31: Lichter talks about his entrepreneurial ties and how he came to recognize the need of a brokerage business in the area. He goes on to talk about the aspects of being a broker that were interesting to him and the rest is history.
  • 6:32-6:45: What’s your 30 second elevator-pitch for your company?
  • 6:46-7:38: “We work in West Virginia and in West Virginia, businesses should never die of old age. We help the sellers of businesses transition when they’re ready to tire or when they’re ready to move on to other things. We fill a need for them to be able to confidentially sell their business.”
  • 7:39-9:46: What would you say you’re most excited about for your company right now?
  • 9:47-13:39: “I’ve been operating as a one-man operation… [Now] I’m taking more of a team-leader role… We’re really developing more as a team.”
  • 13:39-13:51: Take us through the worst moment you’ve had as a business owner and the lesson you learned from that…
  • 13:52-16:27:  Lichter recalls a time in which him and his wife made an investment on a new business that they rushed and hadn’t done their due-diligence prior to investing and how that backfired. His lesson learned was, “there are no shortcuts!”
  • 16:28-16:34: What would you say is the best thing about being in business in West Virginia?
  • 16:35-17:41: “I think it’s a tremendous opportunity, for us as business brokers, there’s virtually no competition.”
  • 17:42-18:28: What’s the vision for your company long-term?
  • 18:29-20:12: “We see the opportunity and we’re hoping to fill the void in providing a service that can educate both buyers and sellers in order to create a very viable after-market for businesses.”
  • 20:13-24:07: What’s one thing you do everyday that you think contributes to your success?
  • 24:08-24:44: “The best thing I do at this age is networking.”
  • 24:45-24:48: What’s one resource you use in your business that you just can’t live without?
  • 24:49-26:54: Lichter talks about the efficiency and convenience of his business becoming more and more virtual.
  • 26:55-27:00: What’s a book you’d recommend to aspiring entrepreneurs?
  • 27:01-28:01: “Built to Last” By: Jim Collins
  • 28:02-28:26: If you could meet anyone in the state of West Virginia that could help you grow your business, who would that be?
  • 28:27-29:12: “I think I need to meet the Secretary of Commerce!”
  • 29:13-29:54: What’s the best way for our listeners to contact you or learn more about Sunbelt?
  • 29:55-31:34: https://www.sunbeltnetwork.com/morgantown-wv  “Our website or give us a call at 304 276-1880 We’re very accessible and enjoy anyway you reach out to us!”
  • 31:35-Close: Jim thanks John Lichter for joining him on another episode of Positively West Virginia and recognizes the amazing sponsors of the show that allow these stories to be told.