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.
Discussion Points:
0:00 The Elevation Program
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 the 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.
John’s 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. He 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 & Sec
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