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In this episode of the Millionaire Mindcast, we have an superb guest John Warrillow who shares a lot of valuable insights on strategies and ways to pull your business in a position to extract the most value out of it, why growing revenue is not always being the most important thing, how business landscape have changed since COVID, the difference between saleable and unsaleable companies, the three types of business owner profile, how long you need to commit to the business you want to build, and diversification of business trends moving forward! John Warrillow is an entrepreneur, investor, expert in setting up a business, the founder of The Value Builder System, a simple software for building the value of a company used by thousands of businesses worldwide. He wrote amazing resources and books and information around businesses that are setup to sell. He authored The Automatic Customer, The Art of Selling Your Business, and the bestselling book, Built to Sell: Creating a Business That Can Thrive Without You, which was recognized by both Fortune and Inc magazines as one of the best business books of 2011. Also, host of Built to Sell Radio that interviewed hundreds of founders about their exit. Forbes ranked this as one of the ten best podcasts for business owners. Starting a business with a proper foundation is vital in order to thrive and succeed. Majority of business owners focus on multiplying revenue and clients. Thinking it's enough to be called as high-value business. However, according to John, none of these matters if your business is relying on you because you can't sell it. Therefore, create a valuable company that is built to sell. He suggests to form standard operating procedures to follow your employees when you're not around. This will grow your company beyond your involvement. Moreover, sale a few things to lots of people. It is planning one thing that you can absolutely own and doubling down on. These are the main ways to boost the value of a company. Some Questions I Ask: How you got into the game of building, executing, and selling businesses? (05:26) What is the most important variable in a successful business? (07:56) How do you guys audit the overall health or the ability to be a saleable company? (10:22) Is company valuation process something that people should be factoring into their business plan and their model? (17:51) Is there a perfect business model? (21:53) What are the best business frameworks that you've seen that have been built to sell? (28:54) What is the overall average timeline you see for these successful businesses? (40:16) What kind of mentality mindset should someone have in terms of commitment in building their business? (44:42) When is it time to thrown the town, pivot and adapt? (47:15) What is your diversification look like? (51:56) What are some of the opportunities or challenges that you see for businesses in the landscape post-COVID? (53:34) In This Episode, You Will Learn: Monopoly control: the main way to boost the value of the company (12:10) The three traditional ways of company valuation (19:39) Three psychographic profiles of business owners (22:58) The aspiration that entrepreneurs must have in their companies (31:12) Definition of wealthy (34:31) Two common reasons why business owners decide to sell their company (59:03) Quotes: “Every additional service you offer is going to make you less attractive to acquire.” Connect with John Warrillow on: Built to Sell Episode Sponsored By: HelloFresh: Visit https://hellofresh.com/50mindcast or Use the code 50MINDCAST to get 50% off plus free shipping! Stay in touch with Matty A: Website Facebook Instagram YouTube
In this episode of the Millionaire Mindcast, we have an amazing guest, John Warrillow. He is the author of Built To Sell and many other books, resources, and information around businesses. And today he talked about the art of building a business to sell. This and more on today's show so tune in, Enjoy! Connect with Matty A. and Text me to 844.447.1555 Show Brought To You By: TheRichLifeAcademy.com Episode Sponsored By: TheRichLifeStore.com Questions? Comments? Do you have a success story you would like to share on the show? Send us an email to Questions@MillionaireMindcast.com
A business parable about how to create a start-up that won't trap you when you want to sell it. 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 sell, buyers aren't confident that the company-even if it's profitable-can stand on its own.
Best-selling author ("Built to Sell") John Warrillow is back with new research that 3 or 4 business owners who sell regret their decision just one year after sale. He has developed a new assessment tool to help you beat the odds that is available at PREscore.com
Welcome to the show Shawn Freeman. Shawn is the founder and CEO of TWT Group. In this interview, Shawn shares his story on how and why he started his own IT company, when he knew it was time to make the leap out of his 9 to 5 and why he wish he would have done it sooner. He talks about how fear is the biggest limitation for people trying to reach their full potential and how to overcome that as you grow your business. Shawn talks about when he knew he should hire his first staff, the different between hiring employees and contractors and why hiring employees is the better option. We talk about company culture and how important it is for a company and how a leader should coordinate that. He gives his list of pros and cons of being an entrepreneur and the steps people should take if they are thinking about becoming self-employed. https://www.twtgroup.ca/ Books: Find Your Why - Simon Sinek https://amzn.to/2HuyRUe Uncommon Service - Frances Frei https://amzn.to/2W98R3R Delivering Happiness - Tony Hsieh https://amzn.to/2U2Kc3s Rework - Jason Fried and David Heinemeier Hansson https://amzn.to/2OdROuS Never Get a Real Job - Scott Gerber https://amzn.to/2Y7wPhL Built to Sell - John Warrillow https://amzn.to/2CrRsMg
Maestros del Escalamiento: A podcast by the Entrepreneurs’ Organization
Emprendedora y con una capacidad de inspirar y motivar a sus equipos de trabajo, Karina Garza fundó Vexin, Ezpak & B1B dedicada a brindar a soluciones de tecnología, identificación y empaque a sus diferentes clientes. Conoce la historia completa de Karina Garza, en esta edición de Maestros del Escalamiento junto a Daniel Marcos. Notas 0:40 Daniel Marcos nos da bienvenida a una nueva edición de Maestros del Escalamiento junto a Karina Garza, del capítulo de EO Monterrey. 1:12 Cabeza de Vexin, Ezpak & B1B, Karina es cabeza de una empresa con 8 años de antigüedad dedicada a brindar soluciones de tecnología como identificación de producto y recolección de datos. 4:06 Karina nos platica que es miembro de EO desde hace 2 años. 4:20 Menciona que el foro se ha convertido en su red de apoyo para poder. 5:21 Al estar buscando un diplomado en el extranjero, se encontró con un amigo quien le platicó e invitó a EO. 6:24 Karina menciona que la oportunidad de generar amistades y relaciones de negocios ha sido lo que más le ha gustado de estar en EO. 8:25 Para Karina, su día empieza agradeciendo para después empezar con la rutina de llevar niños a la escuela y finalmente arreglarse para empezar con los compromisos del día. 11:35 Karina nos platica que los libros que más recomienda son “Padre rico, padre pobre” (Robert Kiyosaki, Sharon Lechter, 199/), “Built to Sell” (John Warrillow, 2010), “The Automatic Customer” (John Warrillow, 2015) 14:00 La oportunidad de ayudar a otros a realizarse y poder hacer que cumplan sus sueños para hacer que crezcan y sean mejores es lo que más le ha gustado de ser emprendedora. 14:37 En su opinión, la decepción de ver que hay gente con mucho potencial y que ellos no lo ven, es lo más difícil de ser emprendedor. 15:07 ¿Qué es lo que más le ha ayudado a escalar su negocio?: Hacer lo correcto 17:10 ¿Cuál es una habilidad única de Karina Garza? Orientar, inspirar y vender. 17:40 Recomienda ampliamente ver “En Busca de la Felicidad” (Gabriele Muccino, 2007) 18:50 Considera que una compra que le ha cambiado la vida fue comprar un café con sus hijos donde tuvo la oportunidad de hablar y hacer muchos planes. 19:49 Si pudiera decirle algo al mundo es que hagan lo correcto y con gusto. 20:13 Para Karina, su propósito de vida transformador es tener la oportunidad de generar empleo para que las familias puedan vivir mejor. 21:06 Karina considera que su rutina para poder dormir es su hábito raro. 22:04 Karina nos platica que cree fielmente en que todo el mundo es capaz de hacer cosas extraordinarias. 22:50 Karina considera que una idea falsa que la gente tiene de ella es que es una persona dura. 24:29 ¿Cómo es la cultura de su empresa? 25:40 Si pudiera darle un consejo a su versión joven sería que sea paciente y que todo pasa para algo. 26:26 Al pensar en éxito, Karina opina que es algo subjetivo… y para ella significa encontrar un equilibrio entre lo personal y lo profesional. 27:11 Karina considera que su fracaso favorito fue durante la gran crisis de 2009 donde emprende su segundo negocio, al cual le fue muy bien de inicio, pero no pudo sostenerlo. 29:57 Pero también cree que la mejor decisión fue no rendirse a pesar de haber fracasado antes tanto en lo personal como profesional. 30:44 Al contratar a alguien, se fija en su honestidad y en sus aptitudes. 32:19 A los jóvenes recién egresados les recomienda que encuentren su pasión y se aferren a ella. 35:02 Daniel Marcos menciona que el escalamiento es mental antes que físico a lo que Karina responde que ella se visualiza con los beneficios de lo que hará. 36:33 Como último consejo, Karina nos recuerda que el emprendimiento no es para todos pero que hay que escuchar todas las razones por las cuales puedes fracasar pero que hay que “picar piedra” y no rendirse. 38:51 Despedida y agradecimientos
Built to Sell Radio is hosted by John Warrillow, author of the book Built to Sell, which you can buy here. This is a great podcast that interviews entrepreneurs who have had successful exits. You learn their struggles, how they overcame challenges, and how much money they made when they exited. Today I cover episode 137, where you hear how Thomas Gorny built a website hosting company to a $975M exit, and how he went from rags, to riches, and back to rags before succeeding again. Feel free to reach out with questions or comments at chrisbello.com and remember, less dreaming, more doing.
This week on the show we talk with John Warrillow! Can you imagine anything worse than going to sell your business, and finding out it isn't worth anything? Well, John wants to make sure that doesn't happen to you. All that and MUCH more, coming up on this episode of GIT. Show Notes [2:59] Wells Fargo fraud [13:37] Freakonomics [17:31] LA Times on Wells Fargo [18:55] Mark Stoner - Ashbusters [20:23] USAA - believe it or not, they're not a sponsor [21:35] Groundhog Hunting with Jerry: 5 Minute Training [29:32] CVC Coaching [29:55] John Warrillow intro [30:01] Built To Sell [30:17] The Automatic Customer [46:54] Hassle Free Homes [56:37] Quote [58:39] ValueBuilder.com [59:09] GIT Nation Facebook Group [59:33] Got suggestions? Email us at guys@guysintrucks.com [59:45] Spark Marketer [59:57] Let's get social! Facebook | Twitter | Instagram [1:00:12] Subscribe to our emails!
PreneurCast: Entrepreneurship, Business, Internet Marketing and Productivity
Pete Williams talks to Dom Goucher about keeping his business running while he's on vacation, and they discuss Dom's use of the podcast as a form of "Productivity Therapy" Books Mentioned: The E-Myth Revisited - Michael E. Gerber Built to Sell - John Warrillow Other links: Simplyheadsets.com.au - Pete's headset company ;o) -=- For more information, visit us online at www.preneurmarketing.com or drop us a line at: preneurcast@preneurgroup.com