Where were you on Monday March 13, 2000?  That was the day the dot com bubble burst and the NASDAQ began a drop that would see it lose almost nine percent in two days, eventually settling at less than half of its peak value.

Back then, I was the founder of a professional services firm and desperately trying to figure out how to add an “e” to the name of my company to get my share of the ever-growing valuations for any company remotely involved in the internet.

Eleven years later, I think we’re in the midst of a new bubble for consumer web businesses like Facebook, Twitter, Groupon and their many imitators. In fact, JP Morgan Chase just announced a fund they are flogging to their wealthy clients which aspires to spot the next big social media business. I, for one, will take a pass. Goldman Sachs may also scrape its knees on the fall off the band wagon it has jumped by peddling Facebook shares to its high net worth clients.

All the hype around the technology space can leave an old school business owner feeling optimistic that their business might finally fetch a fat multiple only to be disappointed that today, there is an ever-increasing divide between the value of a web business and everything else.

But just like the market of the late 1990s, I imagine this too will soon pass and usher in a time where real businesses – ones like yours with real profits, customers and a defendable moat – will be back in favor.

Would you like me to speak to your group on my book tour?

I’m arranging a book tour around the launch of the second edition of Built To Sell: Creating A Business That Can Thrive Without You on April 28, 2011. I’ve got dates booked in Toronto, ON and Washington, DC and would like to fill out my calendar with a few other gigs. I’m offering to fly (at my cost) to any city in North America the week of May 2, 2011 or May 9, 2011 and wave my speakers fee in return for pre-ordering 400 copies of the new Built To Sell.  We’ll make sure the books get to your event in time for my talk and I’ll also throw in a box of 40 copies of the first edition which we’ll ship to you right away so you can use them to promote the session to your audience. Just email Rachel@BuiltToSell.com your pre-order receipt and we’ll be in touch to arrange your talk. Please understand this is a onetime offer for the weeks of May 3, 2011 and May 9, 2011 only and once my calendar is booked up, it’s booked.

Al Gore’s slide master scales up

In other news, the woman behind Al Gore’s slide deck in the movie The Inconvenient Truth has scaled up her professional services firm to 82 people and offers some great lessons on how you too can scale a service business.

Usually when I write a story about selling a business for Inc, a dozen or so generous souls click the “Like” button and post it to their Facebook feed. Last week, Inc published my story “Are You A Closer Or A Schmoozer” and 186 people hit the Facebook “Like” button and another 203 “Tweeted” it. For me, that’s a lot of love and it made me think about why the story seemed to resonate with owners building to sell.

The core idea behind the article is that, to create a sellable business, you need to be able to generate sales without doing the rainmaking yourself. Knowing which of two selling styles you have can help you replace yourself as your company’s top sales person.

Today on my blog (above if you’re reading this on line) I’ve posted a video with a bit of the back story on The Schmoozer vs. The Closer piece. Please use the comments section to let me know your thoughts.

“Only insane people are entrepreneurs”

Penelope Trunk, the author of Brazen Careerist,  wins the award for most controversial interview I’ve done in the last year. As I write this, our Q&A titled “Only Insane People Are Entrepreneurs” has generated 24 comments ranging from high praise to blistering attacks.

During our interview, Penelope had me laughing out loud. At one point she told me the idea for my article was “stupid” and proceeded to come up with a better angle. In the interview, Penelope delineated between venture-backed companies that are “built to sell” and those lifestyle businesses that are not. Let me know what you think of the Penelope Trunk interview when you have a sec.

On a final note, you may notice my new branding (and the 4 emails you got from me in error last week — sorry) which is part of the launch of the new edition of Built to Sell: Creating A Business That Can Thrive Without You being released by Penguin on April 28, 2011. The new book includes the story of Alex Stapleton along with an all new implementation guide on how to transform a business into a sellable company. Thanks for your feedback on the cover ideas, they helped make the final cover design something I’m proud of.

Recurring revenue is the single most important element of building a company you could sell one day. In the video above and the articles below, I share my thoughts on why repeat customers are so important to the value of your business and how to convince your customers to sign up for a contract or subscription.

Please tell us about your own examples and experiences on creating a recurring revenue model in the comments section below.

How to Be Clairvoyant About Revenue

~ published January 7, 2011 Inc.com

Recently I wrote about how recurring revenue can make your business more predictable and less worrisome by helping you see your revenue stream well into the future. I’d now like to focus on how recurring revenue can make your business more valuable if you ever want to sell it.

An acquirer will need to be confident that your company will continue to generate revenue after you are gone. In short, you have to help them see the future by demonstrating how your revenue will be reoccurring. »more

Stop Living Project to Project

~ published January 5, 2011 Inc.com

The best thing you can do for your business —and peace of mind—in 2011 is to create a recurring revenue model. You know the kind, where you start a month knowing you already have some sales guaranteed. Having visibility into your future revenue allows you to plan your time and neutralizes the worry about when your next job will be.

Just about any business can be reshaped to provide a steady flow of projects and cash. For example, Jim Vagonis, the founder of Potomac-based Hassle Free Home Services, has redesigned the business model of the typical contractor. Your average drywaller, stone mason, electrician or plumber lives a lumpy existence, lurching between 16-hour days and stretches of unemployment.»more

I got an email yesterday from a friend who is looking for someone to help him sell his business.  I have found intermediaries (mergers and acquisitions professionals or business brokers) to be a valuable resource for selling a business (and preparing it to be sold). In the video above, I share my experience with how to find an intermediary to represent you and what you’ll need to pay them to help you sell your company. Please use the comments section of this blog to share your own experience with finding and working with a business broker or M&A pro.

On a separate note, I found out this morning that my book Built To Sell has been recognized by Inc. Magazine as one of the top business books of 2010. I’m still peeling myself off the ceiling. A great big THANK YOU to you for reading the book (and this blog) which I know helped the editors at Inc. make their choices.

Finally, here are some new articles for this week about selling your business:

Three tips for negotiating your earn-out

~ published November 30, 2010

The other day I met with two entrepreneurs running a $1-million per year graphic design business. They were in the final stages of negotiating a deal to sell their company to a large multinational marketing services firm. »more

The mercenary vs. the missionary entrepreneur

~ published December 1, 2010 Globe and Mail

Do you have a purpose in your business that goes beyond making money?

• Harley-Davidson’s mission is to “fulfill dreams through the experience of motorcycling.”

• Southwest Airlines is trying to “democratize air travel so that all Americans can visit a loved one or relative at a happy and sad time in their lives.” »more

How to get employees to care

~ published December 2, 2010 Globe and Mail

To build a valuable company you can walk away from – whether to sell or to leave just for a vacation – requires that you figure out how to get your employees to care as much as you do.

For his advice, I spoke to Ken Blanchard, whose books, including Raving Fans and The One Minute Manager, have sold millions of copies worldwide. »more

Ready to Sell Your Business? Avoid These 8 Mistakes

~ published December 2, 2010 BNET

Are you planning to step away from running your business in the next few years? Here are eight mistakes to avoid before hitting the eject button:

Mistake 1: Being boring

While it is true buyers like predictability, they also like growth. Set aside a small slice of money for experimenting on new things (product ideas, etc.). »more

Do you write a blog, speak at events, Tweet or publish a newsletter to position your company as a leader in your industry? Have you ever considered writing a book to add to your profile?

I wrote my first book back in 2002 to help get Warrillow & Co on the map. I sent prospects a book and they gave me a warmer reception. I’m pretty sure we would not have landed Apple or American Express as customers without my first book as a credibility booster. Having a book also helped with existing customers who paid more attention to what I had to say. Employees and new recruits were also impressed.

The downside of writing a book – or any sort of marketing where you’re the front person – is how closely it ties you to your business; which is what Chris Brogan, the co-author of Trust Agents, found. Trust Agents became a New York Times Bestseller last year and Brogan had offers from people who wanted to buy his digital marketing agency, New Marketing Labs, but all were contingent on him personally sticking around for an earn out. (Read my interview with Brogan to get his perspective on building a sellable company and the perils of being the spokesperson for your business).

This week I also got a call from a brand name author (you’d know his name if I told you) who is looking for some help to turn his business into something sellable. He has written a number of bestselling books, which helped him to create a thriving speaking, education and events business, but it is too dependent on him personally. We’ve agreed to a barter deal where he is going to help me as a newer author and I’m going to help him turn his business into something more sellable.

I think your decision to write a book comes down to one of timing. If you are planning to sell your company in the next 5 years, I think writing a book will tie you to your business too much and may do more harm than good. If your time horizon is longer for getting out, then a book can solidify your credibility, garner respect from prospects and customers and accelerate your growth. I wrote about picking a format for your business book this week.

Do you have a book in you?

(photo courtesy of Flickr/Horia Varlan)