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Built to Sell Radio

Built to Sell Radio is a weekly podcast for business owners. Each week, we ask a recently cashed out entrepreneur why they decided to sell, what they did right and what mistakes they made through the process of exiting their business. Built to Sell Radio is the ultimate insider's guide to approaching the most important financial transaction of your life.
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Now displaying: March, 2017
Mar 29, 2017

Dan Lok packaged a set of table tennis video tutorials into a membership website and charged a subscription fee to join. Over eight years, Lok managed to build a five-figure recurring revenue stream from subscribers to Table Tennis Master.

Table Tennis Master was one of 20 businesses Lok was developing simultaneously when tragedy struck his family. That’s when he decided to simplify his life and sell off some of his business interests.

In Lok’s case, speed and ease of transaction were more important than maximizing his financial take, so in this episode you’ll hear the story behind the sale of Table Tennis Master and learn some unconventional tactics, such as:

  • How to sell your business in a few weeks.
  • A sure-fire way to tell if you should keep or sell your business.
  • How to identify and engage friendly acquirers who can make a quick offer.
  • How to structure your deal when speed and efficiency are more important than value.
Mar 8, 2017

The Mortgage Reports publishes information about mortgages for home owners. Site founder Dan Green, capitalized on the internet traffic they generated by selling leads to mortgage lenders.

Within three years, Green crested a million dollars a year in annual revenue. That’s when he began to worry about new regulations and compliance as his business went from being a hobby to a major player in the mortgage leads industry. Green decided to sell and quickly got three offers from the companies he was selling leads to.

The first offer was mostly cash. The second was for half cash and the other half “at risk” in an earn-out tied to meeting lead volume goals in the future. The third offer included a small payment up front with a rich potential earn-out if Green was able to send the acquirer enough quality leads. You may be surprised to learn which of the three offers Green picked.

In this episode, you’ll learn:

  • The difference between being a core product and an add-on feature
  • The importance of breaking bread with your potential acquirer
  • What terms and conditions to include in an earn-out contract 
  • How to vet a potential buyer when an earn-out is involved
Mar 1, 2017

Laura Gisborne has started nine companies and sold six of them, including The Art of Wine, the subject of this week’s episode. The Art of Wine is a tasting room with a subscription-based wine club division. With a little more than $1MM in annual revenue, The Art of Wine was still a relatively small business, but when the lease came up for renewal Gisborne reasoned it was the perfect time to look for a new owner.

Gisborne channeled her experience from six exits into the sale of The Art of Wine, and in this episode you’ll learn how to:

  • Attract a steady flow of inbound offers for your business
  • Pick your number (hint: it may be lower than you think)
  • Ensure a competitor does not get their hands on your private information while marketing your business
  • Use your location to attract a buyer
  • Use the buyer’s ego to your advantage
  • Build systems to you-proof your company
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