Do you own a business? Are you thinking about venturing out and becoming an entrupauner? Then you need to listen to this podcast with author John Warrillow and our discuss about his new book entitled “Built to Sell-Creating a Business that Can Thrive Without You.” I know many of your reading this might be thinking, wouldn’t that be great. According to John having a business that will thrive without you, is entirely possible.
John’s book revolves around a parable about an advertising agency where the owner is doing many of the wrong things to attain the ultimate of having a business that will thrive without him. He meet a business guru who provides him with some sound advice, and his business starts to turn around. Are you wondering what some of that advice was?
Well, here you go:
Tip#1, Don’t generalize;specialize. If you focus on doing one thing well and hire specialists in that area, the quality of your work will improve and you will stand out among the competitors.
Tip#2, Relying too heavily on one client is risky and will turn off potential buyers of your business. Make sure that no one client makes up more than 15% of your revenue.
Tip #3, Owning a process make it easier to pitch and puts you in control. Be clear about what you are selling, and potential customers will be more likely to buy your product.
Tip#4, Don’t become synonymous with your company. If buyers aren’t confident that your business can run without you in charge, they won’t make their best offer.
Tip#5, Avoid the cash suck. Once you’ve standardized your service, charge up front or use progress billing to create a positive cash flow cycle.
If you are looking to create greater value for your customers, and develop a business that is salable at the highest price then I highly recommend that you listen to my interview with author and businessman John Warrillow “Built to Sell“. His advice and wisdom when it comes to developing a business that is salable and can thrive without you being present are extremely important to you not becoming a slave to your business. I see to many people that this happens to, and it does not have to be the case if you develop your personal blueprint and follow John’s advice.
If you want more information about the book and John’s company click here for Value Builders System, or please click here to be directed to the book website.
I hope you enjoy this wonderful interview with someone who can lift most business people out of the doldrums of being chained to their businesses.