Built to Sell: Creating a Business That Can Thrive Without You
Run your company. Don’t let it run you.
Most business owners started their company because they wanted more freedom—to work on their own schedules, make the kind of money they deserve, and eventually retire on the fruits of their labor.
Unfortunately, according to John Warrillow, most owners find that stepping out of the picture is extremely difficult because their business relies too heavily on their personal involvement. Without them, their company—no matter how big or profitable—is essentially worthless.
But the good news is that entrepreneurs can take specific steps—no matter what stage a business is in—to create a valuable, sellable company. Warrillow shows exactly what it takes to create a solid business that can thrive long into the future.
on for a five-year earn-out. I’m real y asking you for a two-year commitment as opposed to five. I’m actual y going to save you three years.” “When you put it like that, I guess I can’t refuse. I was getting excited about the prospect of sel ing and spending some more time with Pam and the kids. You know, Jenny wil be entering high school this year, and Max is right behind her. I only have a few more years before they’re off to col ege.” “I understand, Alex. The next two years wil be hard work
instead just smiled, sat back, and relished being courted by MNY Bank. The second half of the year progressed wel . Angie’s team was consistently sel ing one logo per week. Rhina had taken the instruction manual for the Five-Step Logo Design Process to an entirely new level of detail that Alex was convinced would rival a lunar landing briefing. Chris was busy and enjoyed mentoring his growing team of young designers. With five weeks left to go, Harry projected the year would end as fol ows:
Burlingham is one of many authors who gave their time and talent. Other authors who helped with inspiration and advice include Jim Blasigame, Anita Campbel , Tom Deans, John El ett, Jason Fried, Seth Godin, Verne Harnish, John Brown, Shep Hyken, John Jantsch, Rich Sloan, Tim Ferriss, Gary Vaynerchuk, Guy Kawasaki, Bob Bury, Doug Tatum, Ken Blanchard, Norm Brodsky, Chris Brogan, Chris Guil ebeau, Jeremy Gutsche, Tom Peters, Jonathan Field, Dan Pink, Gretchen Rubin, Marshal Goldsmith, and Pamela
motivation to be brand-loyal toward. Each morning I wake up and brush my teeth with Crest Whitening Gel. I’m fairly sure the “whitening gel” is a placebo, but it appeals to me given the amount of black coffee and red wine I consume. Every once in a while, I’l go off the beaten path and try a Colgate product that promises “extra whitening,” but I always work my way back to Crest. If you sel a consumable, start tracking your repurchase rate from existing customers. This wil be a number that
model, you wil have one of the most valuable businesses in your industry. Traders and money managers swear by their Bloomberg Terminal. Bloomberg customers have to first buy or lease the terminal and then subscribe to Bloomberg’s financial information. Having sticky customers loyal to a proprietary platform al owed Michael Bloomberg to build a valuable company. NO. 2: AUTO-RENEWAL SUBSCRIPTIONS—DOCUMENT STORAGE When you store documents with Iron Mountain, you are charged a fee each month