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. Built To Sell by John Warrillow, , available at Book Depository with free delivery worldwide. 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.
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Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Refresh and try again. Open Preview See a Problem? Thanks for telling selk about the problem. Return to Book Page. Preview — Built to Sell by John Warrillow.
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.
To illustrate this, Warrillow introduces us to a fictional small business owner named Alex who is struggling to sell his adver According to John Warrillow, the number one mistake entrepreneurs make is to build a business that relies too heavily on them.
To illustrate this, Warrillow introduces us to a fictional small business owner named Alex who is struggling to sell his advertising agency. Alex turns to Ted, an entrepreneur and old family friend, who encourages Alex to pursue three criteria to make his business sellable: Hardcoverpages. Published April 28th by Portfolio first published To see what your friends thought of this book, please sign up. To ask other readers questions about Built to Sellplease sign up. I am just started my carrier on sales and looking for some good books as guides.
Nicky Billou Anything by Jim Rohn is good. I would also buy and read Jeff Gotomer’s books. See 1 question about Built to Sell…. Lists with This Book. Mar 29, Nathan rated it really liked it Shelves: 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.
I’m naturally cynical of these just so stories, but I like to have an arsenal of stories from which I can pick a technique to use at any point in time. Here are the tips from the book, which is structured as “guru helps novice to get shit together and build business sustainably”: If you focus on doing one thing well and hire specialists in that area, the quality of your work will improve and you will stand out among your competitors.
Relying too heavily on one client is risky and will turn off potential buyers. Make sure that no one client makes up more than 15 percent of your revenue. Owning a process makes it easier to pitch and puts you in control.
Avoid the cash suck. Take some time to figure out how many pipeline prospects will likely lead to sales. This number will become essential when you go to sell because it allows the buyer to estimate the size of the market opportunity. Sel sales reps are always better than one.
Usually naturally competitive types, sales reps will try to outdo each other. And having two on staff will prove to a buyer that builf have a scalable sales model, not just one good sales rep.
Hire people who are good at selling products, not services. 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. You need at least two years of financial statements reflecting your use of the standardized offering model before you sell your company.
Built To Sell
Build a management team and offer them a long-term incentive plan that rewards their personal performance and loyalty. Find an adviser for whom you will be neither their largest nor their smallest client. Make sure they know your industry. Avoid an adviser who offers to broker a discussion with a single client. You want to ensure there is competition for your business and avoid being used as a pawn for your adviser to curry favor with his or her best client. Write a three-year business plan that paints a picture of what is possible for your business.
Remember, the company that acquires you will have more resources for you to accelerate your growth. If you want to be a sellable, product-oriented business, you need to use the language of one. Instead, use a warrillpw stay bonus that offers the members of your management team a cash reward if you sell your company. Pay the reward in two or more installments only to those who stay warrilloq that you ensure your key staff stays on through the transition.
Mar 24, Jeff Peters rated it really liked it. Here is what I got out of this book: Step focus on building value. Isolate a product with potential to scale. Hire a sales team – Remove yourself from selling the product – Hire 2 sales employees. Do not be afraid to end the business relationship if they don’t like your standard product.
Launch a long term incentive plan for managers – Prove your warri,low can run the company warrkllow will stick around. Find a broker – Joyn be able to answer: Tell your management team – Offer bonus when company sells 8.
Convert offers to a binding deal – Beware of earn-outs Now for wagrillow hard part, putting builg ideas into action. Feb 07, Pavel Annenkov rated it it was amazing. Jul 08, Aleksi Autere rated it liked it.
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Business Book Review and Free Gift: Built to Sell by John Warrillow |
Mar 24, Claudia Anderson Scimeca rated it really liked it. So, this was another book that I “read” as johnn audio book. I am very glad I did not. Once I got “into” the book, I was able to almost forget how awful the narration was. John Warrillow wrote a business book in a fictional buipt His mentor Ted provided Alex with tips and guidance as Alex made the journey to improve his business so that it became highly profitable. Writing what could be dry material in a fictional style kept me engaged while actually picking up great tips and lessons.
I loved the book so much that when I was done with the audio version, I ordered the paper back version so that Darrillow could highlight the parts the spoke most strongly to me. Must-read for every service-business owner 1. Easy to relate to, enjoyable storytelling 2.
Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
Clear step-by-step guide to turn a service into a replicable product 3. Inspiring, clear tips for any entrepreneur trying to turn his lifestyle business into a stand alone biz.
As an experienced entrepreneur who built and sold businesses in the past I regret I hadn’t read the book a few years earlier.
May 16, Ellen Seltz rated it really liked it. BTS was recommended by a business coach I’m working with. Very helpful information on warrllow your business model, how service business differ from product businesses, and how to get the best of both worlds. A good learning experience, and more accessible for this “flighty creative” than some selk I’ve tried, like The E-Myth. Sep 12, Thomas Umstattd Jr. This is a a great book on business whether you intend to sell your company buil not.
Warriloow as a story it follows the same plot of every business parable but the lessons are totally worth the somewhat cliche story line. Plus getting these lessons as a story always makes for a better read. Nov 16, John Meyer rated it it was amazing.
This one got a lot of ideas going. This book started my marathon training audiobook binge. Aug 26, Betsy rated it really liked it Shelves: Good ideas, good story to hang jojn together.
The detail makes this a really useful book for entrepreneurs and small-business owners. View all ojhn comments. Great info presented well The business advice is presented in the form of a story, which held my attention easily. Insightful information; well worth the time invested. Aug 27, Michael J.
Built to Sell: Creating a Business That Can Thrive Without You
A 5-star review because I found myself nodding in violent agreement the whole time I was reading. I definitely subscribe to Warrillow’s underlying thesis about building a sellable business The author said it best “[T]he point is that the best businesses are sellable, and smart businesspeople believe that you should build a ti to be sold even if you have no intention of cashing out or stepping back anytime soon.
Too often the tendency of entrepreneurs is to get distracted by shiny objects read: I think if I had to state what the book was about with the utmost brevity it would be: