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. 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 in understanding 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.
Do you want to improve the value of your business?
Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.