The Site Shed
The Site Shed is a global podcast for tradies and trade-based business owners, designed to educate and inform around the topics that matter most in running a business.
Hosted by former plumber and digital agency owner Matt Jones, the podcast covers real-world conversations on apprenticeships, marketing, systems, technology, hiring, leadership, and more — all tailored to the trades.
Each episode features practical insights, honest lessons, and expert guests from across the industry. Whether you're a plumber, builder, electrician, landscaper, or any hands-on business owner, you'll find ideas and experiences you can apply straight away.
If you're ready to work smarter, not harder, The Site Shed offers tools, ideas, and perspectives to help your business move forward.
The Site Shed
Exiting Your Trade Business For High Multiples (Enterprise Value) | ft. Jeff Armstrong | Ep. 461
In this episode, host Matt Jones sits down with Jeff Armstrong from Cultivate Advisors—a seasoned entrepreneur and expert in helping business owners unlock the true value of their companies. Building on conversations from previous episodes about buying and selling trade businesses, Matt and Jeff dig deep into what it really takes to prepare your business to be an attractive, saleable asset.
⏱️ Timestamps:
00:00 Trade Business Mergers & Sales Insights
05:04 Business Owners' Ownership Transfer Blind Spot
08:17 "Business Exit Strategy Insights"
12:05 Business Health Score Evaluation
15:11 "Evaluating Enterprise Value"
18:51 Owner Dependency in Business Operations
22:21 "Exit Planning Methodology Overview"
24:19 "Measuring Success Beyond Financial Metrics"
29:32 Transitioning to Paid Marketing Strategies
32:47 Business Evaluation and Future Planning
34:10 Customized Growth Strategy Blueprint
37:31 Discussing Business Exits and Value
Takeaways:
- Why 70% of trade businesses never sell—and how to avoid being one of them
- What “enterprise value” actually means for tradies, and why it matters
- The top blind spots that keep owners stuck as the main cog in the machine
- How to turn your business into a cash cow OR sale-ready asset
Jeff shares powerful insights into the concept of “enterprise value,” explaining why most business owners mistakenly view their companies as just income producers rather than valuable, transferable assets. The conversation explores common blind spots, key value drivers like owner dependency and financial clarity, and practical steps you can take—even if you’re not planning to sell right away—to build a business that runs without you and stands out to buyers or investors.
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