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Episode 151: John Warrillow – Built to Sell, The Art of Selling Your Business

John Warrillow, the Bestselling Author of Built to Sell, The Automatic Customer, and The Art of Selling Your Business, joins the show to share his journey from being involved in every aspect of business to exiting four companies. Hear how to work on your business vs. in your business, develop recurring revenue, the difference between those who sell their business vs. those who don’t, how to add a personal touch on social media, and John’s favorite extreme sport. This episode covers everything from 60 Minutes to earn-outs. Here’s a small sample of what you will hear in this episode:

• What would John be doing if he wasn’t in the business world at all
• How do you work on the business not in the business
• How do you think of your business like a child
• How do you get yourself to start thinking in terms of recurring revenue
• What is the rocket fuel that propels those entrepreneurs who sell their business for more than expected
• How do you slide into DMs as a business owner
• What is a quirk John has
• What is something about becoming a bestselling author that’s surprised him

Connect with John at BuiltToSell.com/Wild.

Enjoy the shoooooow! Check out the show notes below for much more detail.

Show Notes

• Intro & Media
  • [0:21] Oh, Hello
  • [0:33] Email me at max@maxpodcasting.com to save time with your high-quality podcast and use it as a business-building tool
  • [0:44] Bacardi 151
  • [0:48] Connect with John at BuiltToSell.com/Wild
  • [1:49] The Value Builder System
  • [2:30] What would John be doing if he wasn’t in the business world at all
  • [2:40] Media, 60 Minutes, Mike Wallace
  • [3:10] 65 Minutes with John Warrillow
  • [3:36] Today’s Entrepreneur
  • [3:45] Built to Sell Radio
  • [3:57] Entrepreneurs
• Built to Sell, The Automatic Customer, and The Art of Selling Your Business
  • [4:47] Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
  • [5:02] Where did John’s interest in removing himself from the day-to-day come from
  • [5:16] Quantitative Market Research Business
  • [5:21] Bank of America, Wells Fargo, JPMorgan Chase
  • [5:31] Revenue, Profit Margin
  • [5:38] Perry Miele, M&A (Mergers & Acquisitions)
  • [6:43] Profitability, Client List, Recurring Revenue, Sales Team
  • [6:58] New York Stock Exchange (NYSE)
  • [7:17] How do you work on the business not in the business
  • [7:38] Jodie Cook on Episode 292 of Built to Sell Radio
  • [7:45] Earn-Out
  • [8:52] SOP (Standard Operating Procedure)
  • [9:01] The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
  • [9:53] Inc. 5000
  • [10:19] Harvard University, Auburn University
  • [10:36] Tesla
  • [11:33] How do you think of your business like a child
  • [11:41] Employees, The Yesable Solution
  • [12:49] Product, Rebate
  • [14:04] Freelancers, Virtual Assistants (VAs)
  • [14:16] The Automatic Customer: Creating a Subscription Business in Any Industry by John Warrillow
  • [14:26] Tyler Gillespie on Episode 148 of the Wild Business Growth Podcast
  • [14:41] Where did John’s interest in starting a subscription business come from
  • [15:05] Public Company, Acquisitions
  • [15:16] Annuity Stream, Service Contract
  • [15:31] Software Company
  • [15:37] H.Bloom
  • [15:48] Retail
  • [15:55] Ba-doom chh!
  • [16:10] Roses, Gerbera Daisies
  • [16:38] Sonu Panda & Bryan Burkhart
  • [17:38] Inventory
  • [17:48] Transaction Business Model vs. Recurring Business Model
  • [18:02] Customers, Buying Trigger
  • [18:49] How do you get yourself to start thinking in terms of recurring revenue
  • [19:45] Birthing of Giants, MIT Sloan Executive Education Center
  • [20:02] Entrepreneurial Masters Program
  • [20:13] Jack Stack, Pat Lencioni
  • [20:30] Service
  • [21:12] NBA (National Basketball Association)
  • [21:14] The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top by John Warrillow
  • [22:12] What makes the difference between entrepreneurs that sell their business one day vs. those who don’t
  • [22:45] Sully aka Chesley Sullenberger
  • [23:13] Hudson River
  • [23:22] ClickFunnels, Hiring Employees, Business Plan, Firing Employees
  • [23:52] Inside Baseball
  • [24:15] Podcaster
  • [24:24] What is the rocket fuel that propels those entrepreneurs who sell their business for more than expected
  • [24:45] Competitive Tension
  • [24:52] LOL
  • [25:06] Arik Levy on Episode 203 of Built to Sell Radio
  • [25:32] Re-trading
  • [25:43] Due Diligence
  • [26:07] Financing
  • [26:20] Luxer One
  • [26:58] Bidding War
  • [27:23] Rocket Fuel vs. Jet Fuel
  • [27:28] Save time with your high-quality podcast. Email me at max@maxpodcasting.com to bring your podcast to life and use it as a business-building tool

• Wild Business Shoutout of the Week
  • [28:42] Creative Marketing
  • [28:50] Beast Gear, Ben Leonard on Episode 283 of Built to Sell Radio
  • [29:14] Bootstrapped, Marketing, Advertising, SEO (Search Engine Optimization)
  • [29:33] DM (Direct Message)
  • [30:04] Relationship Capital
  • [30:13] Amazon Ratings
  • [30:31] Nike
  • [30:55] Manager vs. Owner
  • [31:37] Surprise & Delight (S&D)

• Rapid-Fire Q&A
  • [31:51] What is a quirk John has
  • [32:01] Shoutout John’s wife!
  • [32:11] What is something about becoming a bestselling author that’s surprised John
  • [32:38] Snowboarding, Mountain Biking, Windsurfing
  • [33:04] Connect with John at BuiltToSell.com/Wild
  • [33:32] Follow the Wild Business Growth Podcast and tell a friend about the podcast
  • [33:41] Check out the Wild Business Growth Podcast on GoodPods, where you can see what your favorite people are listening to
  • [33:43] Connect with me on Instagram, Twitter, and LinkedIn at @MaxBranstetter
  • [33:46] Save time with your high-quality podcast. Email me at max@maxpodcasting.com to bring your podcast to life and use it as a business-building tool
  • Theme music: Freestyle Percussion Magik – Jungle Tribe – provided by Jamendo

What is the Wild Business Growth Podcast?

Wild ideas. Wild growth. Every Wednesday morning a new entrepreneur or innovator joins the Wild Business Growth Podcast to share the crazy creative and unusual ways they grew their business, and provides tips for you to do it, too. Hear the woman who became the voice of Siri, the man who’s reinventing the sandcastle, how GaryVee’s partners are turning the wine world upside down, and more wild stories. Hosted by Max Branstetter (that’s me), Founder and Podcast Producer at MaxPodcasting.

How do you start a podcast?

Interested in starting a professional-sounding podcast for your brand, but don’t want to deal with the time commitment? I’ve got you covered. Email me at max@maxpodcasting.com to save time with your high-quality podcast and use it as a business-building tool.

Thanks for listening to John Warrillow on the Wild Business Growth Podcast. To hear more Wild stories like this one every Wednesday morning, follow the Wild Business Growth Podcast and tell a friend about it. Until next time, Let your business Run Wild…and Bring on the Bongos!!