When you’ve concluded that your company is saleable after going over the minds of potential acquirers, the next thing that you’d want to do is to make sure that you will get the right value for all the hard work you’ve poured into your business. While most businesses could prove worthy of a huge sum, the dilemma comes in when they don’t know how to show buyers what their value is. How then do you avoid getting less than what you deserve from selling your company?
In this second part of my conversation with John Warrilow, we discuss the necessary preparations that business owners should do to seal the right deal come selling time. We also talk about possible scenarios that company owners may find themselves in after selling.
This is an episode you will surely benefit from if you are planning to sell your company in the future.
What’s Discussed In This Episode:
0:00 Opportunity Analysis
3:18 Welcome back, John
4:21 How relevant is documenting the work that you do
6:50 Pre-Diligence
9:30 Centralization and collation of documents
12:07 The three kinds of business buyers
14:47 The strategic buyer
15:58 Why do you want to sell?
17:48 Talking about your company’s worth
21:30 Reaching the point of financial freedom
24:03 Your first business as your training wheels business
27:15 You’re growing and growing or you’re ripe and rotting
About Our Guest
John Warrillow is the founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide.
Offered by a global network of independent advisors known as Certified Value Builders, The Value Builder System™ incorporates several diagnostic tools, including the Value Builder Score.
Those businesses that achieve a Value Builder Score of 90 or greater are worth double the average-performing business.
His best-selling book Built to Sell: Creating a Business That Can Thrive Without You was recognized by both Fortune and Inc. as one of the best business books of 2011 and has been translated into 12 languages. John is the host of Built to Sell Radio, ranked by Forbes as one of the world’s 10 best podcasts for business owners.
In 2015, John wrote another best-selling book, The Automatic Customer: Creating a Subscription Business in Any Industry. John completes the trilogy with his latest book, The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top. Prior to founding The Value Builder System, he started and exited four companies, including one acquired by a public company. He lives with his family in Toronto.
You can follow John’s work by signing up at BuiltToSell.com.
Resources:
- The Opportunity Assessment (FREE GIVEAWAY FOR A LIMITED TIME) https://tradie.wiki/grow
- Join our global community of 6000+ trade professionals https://www.facebook.com/groups/TheSiteShed
- Check out the Built to Sell website www.BuiltToSell.com
- Follow John and Built to Sell on Twitter
- @JohnWarrillow
- @BuiltToSell
Books mentioned in this episode:
- The Automatic Customer https://amzn.to/3uL5AcI
- Built to Sell https://amzn.to/3y6UjFM
- The Art of Selling a Business https://amzn.to/3oe6zj8
- Search Engine Optimization 3rd Edition https://amz.run/4lzk
Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and Stitcher.
Thank you for tuning in!
If you enjoyed this podcast and this series, please take 5 to leave us a review:
