97: Building And Selling A Business With Bestselling Author John Warrillow

<p><span style="font-weight: 400;">Erik is joined by John Warrillow on this episode of the Franchise Secrets podcast to talk about building and selling a business. The guys break down some of the myths and pitfalls about selling your business, all the things you need to be thinking about from the very start, and how to achieve the highest value possible for your business.</span></p> <h2><span style="font-weight: 400;">Before selling a business, you have to build it up the right way first</span></h2> <p><span style="font-weight: 400;">John Warrillow is a master of building and selling businesses, founding The Value Builder System to help others become the same. John’s a best-selling author of several business books on the topic and he’s the host of Built To Sell Radio, interviewing hundreds of successful founders following their exit.</span></p> <h3><span style="font-weight: 400;">Listen to Erik and John talk about selling a business:</span></h3> <p><strong>Introduction</strong></p> <p><strong>John’s background (1:40)</strong></p> <p><span style="font-weight: 400;">John discusses his experience and what you might know him from.</span></p> <p><strong>Selling a business too reliant on the owner (2:55)</strong></p> <p><span style="font-weight: 400;">Erik asks John about the difficulties of selling a business that is so reliant on the owner and their inability to take a step back.</span></p> <p><strong>How to perform due diligence in equity companies (4:44)</strong></p> <p><span style="font-weight: 400;">John gives his thoughts on selling a percentage of a business to a private equity company, including where there are risks and what you should be looking for in any deal.</span></p> <p><strong>When to think about building a sellable business (9:45)</strong></p> <p><span style="font-weight: 400;">John likes building a business to being a parent. While you might have dreams of what it could become, simply nurturing the company to be the best it possibly can is the best way of building a sellable business.</span></p> <p>