20 rules for business owners setting up a sellable business

3
Geschäftsmann 2.0 20 RULES FOR BUSINESS OWNERS „HOW TO BUILD UP A SELLABLE BUSINESS“ Based on Start it, Sell it & Make a Mint; Joe John Duran, CFA Zusammenfassung:

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Page 1: 20 rules for business owners setting up a sellable business

Geschäftsmann 2.0

20 RULES FOR BUSINESS OWNERS

„HOW TO BUILD UP A SELLABLE BUSINESS“

Based on Start it, Sell it & Make a Mint; Joe John Duran, CFA

Zusammenfassung:

Page 2: 20 rules for business owners setting up a sellable business

Geschäftsmann 2.0

DIM

ENSIO

NS

OF

YOU

RB

USIN

ESS

2. The Culture

3. The People

4. The Operations

5. The Product

6. Sales and Marketing

7. The Financials

8. Aquisitions

9. Preparing Your Business for Sale

10. The Negociation

11. Letting Go

1. The Business Leader

Page 3: 20 rules for business owners setting up a sellable business

Geschäftsmann 2.0

20

!

1. Run the company like a business, not like a hobby

2. Be what you want your company to become

3. Delegate, don't abdicate

4. Put people first, make them feel special

5. Run your company as an open meritocracy

6. Hire people whose skills complement yours, rather than mirror them

7. Skills can be learned, attitudes cannot

8. Develop procedures that provied consistency and predictability

9. Provide differentiated products and services; you cannot win the low cost battle

10. Identitfy and market to a niche

11. Referrals are the cheapest and most effective way to get clients

12. Create a self-sustaining sales system

13. Pay attention to the cash, tomorrow's profits won't pay today's bills

14. Focus on generating recurring revenues

15. Make acquisitions that are an extension of what you do

16. Make yourself dispensable

17. Sell when things are going great

18. Reward the people that are important to the transaction

19. Deals either ripen or not, so ABC (Always Be Closing)

20. Be gracious and smile when you leave