According to John Warrillow, the number one mistake entrepreneurs make is to build a business that relies too heavily on them. Thus, when the time comes to. This is a book summary of Built to Sell by John Warrillow. Read this Built to Sell summary to review key takeaways and lessons from the book. Built To Sell by John Warrillow, , available at Book Depository with free delivery worldwide.
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Don’t offer equity to management team; offer a stay bonus to key employees who stay through acquisition Ch 13 – a sellable company Print Technology makes letter of intent to buy Stapleton Agency for 6x.
This easy-to-read book covers roughly the same ground as “The e-Myth” but has a bit more detail that made it more useful to me as I build process and turn my work into something that can live without me. A fictional character, Alex, with the help of his jihn guru, Ted, embarks on a journey to sell his fictional advertising agency.
Business Book Review and Free Gift: Built to Sell by John Warrillow
However if you’d like to skip to just the practical part there is the “Implementation guide” at the end as a summary of all the key parts. Make a chart for each service Cut the ones that don’t meet those criteria Teachable Valuable can other people do it easily Repeatable Bult forms of guilt rev 6 Consumables – disposable, i. You can kick start your business with some help warillow a goodie package that Warrillow has put together. Product details Format Paperback pages Dimensions x x The story is easy, following the moves of a business owner, Alex, as he navigates the challenges associated with building a business from the ground up.
I found myself having to power through most sepl the details of Alex Stapleton’s day and stop eye rolls at how perfectly the situation fit the author’s ideas. Find a broker – Must be able to answer: We are experiencing technical difficulties.
Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
Ignore your profit-and-loss statement in the year you make the switch to a standardized offering even if it means you and your employees will have to forgo a bonus that year. Alex describes the steps for logo design. Warrillow has written an excellent, story-driven business book on how to effectively set your business up for a future sale.
You need at least two years of financial statements reflecting your use of the standardized offering model before you sell your company.
I am very glad I did not. Last year, John Aarrillow wrote a great book, called Built to Sell. Inspiring, clear tips for any entrepreneur trying to turn his lifestyle business into a stand alone biz.
Launch a long term incentive plan for managers – Prove your managers can run the company and will stick around. If you can create a business that eventually thrives on its own, you can sell it when it reaches a high level of worth. Focus on specialising not generalising. Jul 07, Adham rated it it was amazing. Quotes from Built to Sell: This is a great book. sepl
I read “The Automatic Customer” first because that is applicable to my current business goals, but adding “Built to Sell” afterward definitely gave me some ideas on my company goals and timelines. And having two on staff will prove to a buyer that you have a scalable sales model, not just one good jihn rep. Aug 03, Yves TheMist rated it it was amazing. Loved the book as its very practical.
Sign up for practical, real-world solutions from successful business owners delivered to your inbox each Saturday jihn. It’s a very short read, but I ssell it helps you really see what changes you need to make in how you structure your business if you plan for it to run without you.
Hire people who are good at selling products, not services.
Built To Sell : John Warrillow :
The author effectively describes the process of turning a chaotic services firm, too reliant on an involved founder, into a well-oiled machine positioned to be taken seriously in the business-acquisition marketplace. Warrillow shows exactly what it takes to create a solid business that can thrive long seol the future.
However, rather than most fables, this one actually has practical advice and could actually be a true story. Being sellable is merely the scorecard. For the best results, pair this book with “The Automatic Customer. Personally, I found this bui,t to be a great read, qarrillow his insight helping solidify a lot of thoughts I’m tossing up around the future of my business.
The first part, the “story part” gives you johm deeper understanding of the steps and principles all necessary to position a business so its sellable and allows a maximum payout I was hesitant to listen to this book because it is told in ‘fable’ format. This is a a great book on business whether you intend to sell your company or not.
That said, there is some very intelligent thinking about how to build a business where the founder is not necessary, which is solid advice regardless of a desire to sell. Review quote “John does a masterful job of illuminating the qualities that business buyers look for in a company, and he does it in a thoroughly enjoyable and engaging manner.
Built To Sell
You should always run a company as if it will last forever, and yet you should also strive constantly to maximize its value, building in the qualities that allow it to be sold at any moment for the highest price buyers tp paying for businesses like yours. I definitely subscribe to Warrillow’s underlying thesis about building a sellable business Tempting to take it for cash Takeaway for sales – two wrarillow people – ideally competitive people – this will prove that company sales don’t require a sakes rockstar Ch 7 Hire people who are good at selling products, not selling services – wrrillow who sell products figure out how the product will meet someone’s needs Build Management Team with long-term incentive plan instead of equity – stay bonus for loyalty – performance bonus Starbucks Replace bt with “customer” – Service businesses have clients – Product businesses have customers, who are more easily replaceable, who buy their products Get rid of all service business lingo.
Pay the reward in two or more installments only to those who stay so that you ensure your key staff stays on through the transition. Thanks for telling us about the problem.