10 Questions To Ask Yourself About Your Business: Part 1

About this Episode

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.

After over 160 episodes of Built to Sell Radio and more than 20 years interviewing and researching entrepreneurs, John Warrillow, host of Built to Sell Radio and five-time entrepreneur, shares the 10 questions all business owners and entrepreneurs need to be asking themselves– whether they are ready to exit their company or not.

On this episode, John tackles five questions from listeners and business owners that address the practical nature of raising capital as well as how to handle some of the most difficult aspects of an exit. And to hear from past Built to Sell Radio guests who have put the answers into practice, check out the additional podcast episodes linked below.

  1. How and when do I tell my employees I’m selling my business? Breaking the news can be tricky. Listen as John shares how to get the timing right.
    Then listen to Episode 88: What Happens When The Big Dog Sells to find out how Anthony Amos handled telling his employees he was selling his company.
  2. Should I bootstrap or raise money? John helps understand how funding can impact your long-term vision for your company and your role within it.
    In Episode 152: This Grasshopper Learned Well, David Hauser built and sold Grasshopper using nothing but cashflow.
    In Episode 118: The Founder of the “Female Viagra” Sells Her Business For $1 Billion, Cindy Whitehead talks about the benefits of raising capital to scale your business.
  3. What’s the most overlooked term in a sale? It’s not actually a term but a document, and John will give you practical tips on how to negotiate for it.
    In Episode 73: The Second Most Important Thing To Negotiate When Selling Your Business, Eric Sit overlooked a key detail and lived to regret it.
  4. How do I figure out who the strategic acquirers are for my business? Find out how your buyer might be closer than you think.
    In Episode 161: 4 Big Exits, 1 Smart Entrepreneur, we met Steve Murch. He had a strategic buyer in mind almost from the day he founded his business, which really paid off during his exit.
  5. Can you use the same criteria to buy a business? John shares what he’s learned over the years.
    Check out Episode 149: How Chris-Craft and Indian Motorcycle Were Built to Sell to find out how Steven Heese knew a failing brand was something worth investing in.

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 business 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 future, and you can do the same. Get started for free right now by completing Module 1.

About our guest

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%.