John Warrillow is back with answers to five more questions from Built to Sell Radio listeners that will help you build your business to sell.
After more than three years hosting Built to Sell Radio and over than 20 years interviewing and researching entrepreneurs, John Warrillow is ready to answer his listeners’ top ten questions.
On this episode, John tackles five questions ranging from how to protect yourself from buyers who aren’t what they seem to how to get a Fortune 500 giant like Home Depot interested in buying your company.
There’s lots of important information here for anyone who wants to sell his or her company someday. For each answer, John shares real-world wisdom from a past Built to Sell Radio guest through the additional podcast episodes linked below.
- How do I protect myself from acquirers who are only using diligence as a fishing exercise? It’s unfortunate, but it happens. John explains how to vet potential acquirers.
Then listen to Episode 144: How Jennifer Aniston and Reese Witherspoon Helped Viviscal Exit for 15x EBITDA to find out how James Murphy protected his proprietary information and sold his company for €150 million.
- When building to sell, who is the most important employee to hire? If you can only afford to add one person to your management team, John has a recommendation for who it should be.
In Episode 135: How One Key Hire Helped Dimple Up Their Value by 500% in 2.5 Years, Damien James talks about the critical hire that drove up his company value and helped him sell.
- How can I gain the interest of a Fortune 500 company? It’s the dream, so listen for the important rule that can help you make it a reality.
Then check out Episode 108: Lessons from Home Depot’s Acquisition of $100 Million Juggernaut Blinds.com to hear how Jay Stanfield found a niche that made his company irresistible to Home Depot.
- How can I bridge the gap when a buyer doesn’t want to pay a certain multiple? Getting what you think your business is worth is tough. We’ve got tips for balancing the immediate payout with long-term value.
In Episode 97: How EBITDA Adjustments Impact the Value of Your Business, Ari Ackerman shares how the adjustments he made were the key to successfully selling his company.
- How much more would a strategic acquirer pay than a financial? John helps you understand how strategic acquirers determine what your company is worth to them.
In Episode 74: Would You Have the Audacity to Turn Down $40MM for a $9MM Company?, Stephanie Breedlove knew she had a business model with the potential to make the perfect buyer a lot of money.
In 2011, John Warrillow published Built to Sell: Creating a Business That Can Thrive Without You. The following year, he developed a questionnaire to help business owners evaluate their businesses against the themes in the book. That questionnaire became the backbone of the Value Builder SystemTM. Today, more than 40,000 owners have used Value Builder to take control of their futures, and you can do the same. Get started for free right now by completing Module 1.
About John Warrillow
John Warrillow is the host of Built to Sell Radio, and an entrepreneur and author with over 20 years of research experience into the small and medium business (SMB) market. He founded The Value Builder SystemTM to level the playing field for business owners as they approach their exit. Over 40,000 business owners have taken the Value Builder Questionnaire, and with the support of Certified Value BuildersTM, such as brokers, M&A professionals, and coaches, they’re using the statistically-proven methodology to improve company value by up to 71%.
John’s best-selling book, Built to Sell: Creating a Business That Can Thrive Without You, was recognized by both Fortune and Inc. Magazine as one of the best business books of 2011 and has been translated into four languages. In 2015, John wrote another best-selling book that was released by Random House called, The Automatic Customer: Creating A Subscription Business In Any Industry.
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I can say with some conviction that the biggest mistake owners make in selling their company is being lured into a proprietary deal.
What are the top 10 questions every entrepreneur has when selling their company? It’s John Warrillow’s turn in the hot seat this week, and he’s got answers.
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