Built to Sell Radio — the Q&A edition
This week the folks over at Built to Sell Radio tried something a little different.
Instead of interviewing an owner about their exit, they canvassed founders for their questions about building to sell, and the host of the show, John Warrillow, answered them.
In this episode, John draws on his experience interviewing more than 300 founders on Built to Sell Radio to answer five essential questions:
- How should I structure my second-in-command’s compensation plan? – submitted by John K.
- How do I let the market know I am interested in selling without looking desperate? – submitted by George in Dubai
- What are the best questions to ask yourself to come up with the most complete and relevant list of potential strategic acquirers? – submitted by Thomas
- I’ve got a recurring revenue business with 3 to 5-year contracts and little competition. I pull out a substantial dividend each year. My company makes up most of my wealth, and I’m getting a little uneasy about the risk I’m taking on. I don’t want to sell, but I also want to be smart. Any advice? – submitted by Nick, London, UK
- Do you have any particular advice for the phase of growth where the transition from doing most of it myself to building a team while still running the business day today? How much responsibility should I give? How should I track it? When should I stay close, and when should I let the business run without me? I’d love some hands-on advice, please. – submitted by Sophie