This week’s book should be read by every business owner. I believe that every business should be “Built to Sell” irrespective whether the business owner plans to sell the business or not.
What makes a business more valuable to sell, will make the business more successful in the meantime. As covered by my previous exit planning blog, one never knows when the opportunity knocks to sell your business. If you aren’t in a position to sell then you will miss the opportunity.
John Warrillow tells the story of an owner of a marketing agency, called Alex, and the problems that he faces. Not uncommon problems of relationships with clients, who have unrealistic expectations, and under value the service that they are given. Lack of clarity and leadership also leads to staff problems, and lack of systems leads to working long hours for too little return.
Alex turns to a trusted business adviser (I particularly like that part), to help him. Ted not only helps him to make his business more successful, he helps him to build value in his business. Finally, he helps him through the business selling process to sell his business for a sum that he would never have thought possible.
Hope you enjoy the book and that it helps you in building a valuable business.