Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow

John Warrillow’s book “Built to Sell” offers a comprehensive plan for aspiring entrepreneurs and business owners who are looking to maximize the value of their business and create an invaluable asset. In this book, Warrillow focuses on the crucial aspects of entrepreneurship and provides the reader with various strategies that can help increase the overall value of one’s business and create a revenue stream beyond their own existence.

The underlying premise of “Built to Sell” is that, while most business owners are busy working in their business and struggling to make it profitable, from a macro perspective, their businesses lack the “scalability” that could create a greater amount of value for potential buyers and make the business more attractive for buyers. Warrillow suggests that by taking more of an ownership role and overseeing the growth of their business and its assets, entrepreneurs can make the necessary changes to their operations to create a “scalable” business model that can enable the organization to operate and thrive without the founder's presence in the future.

One of the most important aspects of Warrillow’s book is his focus on defining the business’s product mix. Warrillow states that an entrepreneur must outline the range of product and services they offer, how much they cost and what other offerings they can add to their portfolio. Warrillow refers to this as the “double your money” principle, through which entrepreneurs can gain an understanding of what customers will pay, how a business can differentiate itself from others and the kind of services or products that they can add on top to secure higher profit margins. Ultimately, this approach gives entrepreneurs the ability to increase their cash flow and create a more valuable asset for potential buyers.

In addition to identifying potential buyers, Warrillow advises entrepreneurs to either create or purchase software systems that can automate and optimize their operations. He emphasizes the need for business owners to maximize the efficiency of their operations and to capitalize on their existing customer base. Warrillow also provides insight into how entrepreneurs can create additional recurring revenue streams, including advertising and licensing their products to other businesses.

Warrillow contends that entrepreneurial success depends on one’s ability to develop an effective exit strategy. By identifying potential buyers and creating a business model that can scale and thrive without the presence of the founder, entrepreneurs can create more value for potential buyers, often resulting in a higher purchase price. Warrillow suggests that business owners focus on creating a product or service that has a ‘sticky’ element, meaning that customers or users tend to be loyal to the product or service. He also encourages entrepreneurs to create a network of investors, advisors and advisors that can help in the process of creating a viable exit strategy.

By outlining various strategies and tactics on how to optimize the performance and value of their businesses and increase scalability, Warrillow’s “Built to Sell” serves as an invaluable asset for entrepreneurs looking to increase the value of their businesses and create an exit strategy for potential buyers. From optimizing the product mix, to creating additional revenue streams and forming strategic alliances, “Built to Sell” delivers the necessary guidance for entrepreneurs looking to maximize the value of their businesses and create an invaluable asset.