Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow, once the time comes to market, buyers are not confident the firm – even if it’s profitable-can stand by itself.
Three criteria to generate a business that will sell:
Teachable: concentrate only on goods and services you can instruct employees to provide.
Valuable: prevent price wars by focusing on doing something better than anybody else.
Repeatable: create recurring revenue with technology products that clients need to repurchase frequently.
Built to Sell: Creating a Business That Can Thrive Without You
The Five Big Ideas
- You must always run a business as though it is going to continue running forever.
- The very best companies are sellable–even in case you don’t have any intention of cashing out or stepping down anytime soon.
- When your company can operate without you, you will have a valuable advantage.
- If you concentrate on doing something well and employ experts in that region, the level of your work will improve and you’ll stick out from the competition.
- Ensure no 1 customer constitutes more than 15% of your earnings.
- “Don’t be afraid to say no to projects. Prove that you’re serious about specialization by turning down work that falls outside your area of expertise. The more people you say no to, the more referrals you’ll get to people who need your product or service.” ― John Warrillow, Built to Sell
- “Once you’ve isolated what is teachable, what your customers value, and what they need most often, document your process for delivering this type of product or service.” ― John Warrillow, Built to Sell
- “Next, name your scalable product or service. Naming your offering gives you ownership of it and helps you differentiate it from those of potential competitors.” ― John Warrillow, Built to Sell
Built to Sell: Creating a Business That Can Thrive Without You is a book that makes you understand to always run a business as though it is going to continue forever, and you should also try constantly to maximize its worth, building at the qualities which make it be marketable anytime the maximum cost buyers are paying for businesses such as yours.
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The essential message in this publication: Building a technical service firm attracts prospective buyers. By selecting a strong sales force, developing a diverse roster of customers, and generating powerful incentives to benefit direction devotion, you are building an organization that may be marketed successfully.
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