- Audible Audiobook
- Listening Length: 4 hours and 24 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Gildan Media, LLC
- Audible.com Release Date: May 12, 2011
- Whispersync for Voice: Ready
- Language: English
- ASIN: B0050J3IPA
- Amazon Best Sellers Rank:
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Built to Sell: Creating a Business That Can Thrive Without You Audible Audiobook – Unabridged
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In BUILT TO SELL, however, John Warrilow draws on his personal experience in starting and selling four companies to craft an entertaining primer. The "story" of Alex Stapleton and his marketing company compose most of the book. Frustrated, Alex decides to sell the company, and while discussing his lot with mentor Ted, he discovers (as many entrepreneurs do) that he has nothing to sell. To paraphrase Michael Gerber, THE E-MYTH REVISITED, Alex really has a job with a lunatic for a boss.
Through Ted's tips and coaching Alex eventually builds a business he can sell. The lessons Alex learns apply to anyone who owns a business.
Specialize, don't generalize
Create a scalable product or service that is teachable, valuable and repeatable
Don't concentrate more than 15% with one customer
The business can't rely on you, the owner
There are 35 wonderful pages that follow the fable, the Implementation Guide and Ted's Tips, highlighted and standing alone.
Since reading Warrilow's book...in one day...I have recommended or purchased it for a number of my customers and business colleagues.
It is super important to think strategically and start planning early for your exit. If your exit strategy is to liquidate assets and close up shop, then you don’t really need to read this book. However, if you want to sell your business and not just close your doors, then you’ve got to craft a plan and start early!!
Some key take always:
If you intend to put your business up for sale or position it to be acquired someday, you CAN NOT be the sole reason for the success of your business! If the success or failure is strictly dependent upon you and/or your partner working with your customers, then your sales multiple will be strongly discounted and you will earn a lot less at closing than is possible!! You need a strong management and sales team in place and you need a system for getting things done that is NOT reliant on YOU personally. You need to develop a specialty - being a jack of all trades, but master of none is NOT a recipe for success!
You really need to read this book! It's an easy read...very engaging and easy to understand. Written in a very conversational tone and just makes SENSE!
Far more important for the reader is the revelation that the principles that increase the value of your business to sell it (potentially 71% higher values) also make the business more profitable and pleasure-able to operate today. Whether your business exit timing is anticipated to be in 2 years or 20 years - do yourself a favor and read John Warrillow's book now. It will not only provide important guidance on how to make your business more sale-able someday - you might just find the principles in the book help you raise the profitability of your business today. Potentially even more exciting for many business owners - the principles in the book can also provide you relief from the typical owner burdens of having little work-home life balance and having to pay yourself last - if you get paid at all. It doesn't have to be that way - buy Warrillow's book and start a new lifestyle as an owner.