The problem with owning a service business is that clients usually want to deal with you, the owner. As long as customers are asking for you, your business will always be limited by the number of hours in your day and won’t be worth much when you’re ready to sell.
John Warrillow has started and exited four service businesses – his latest was acquired by a public company in 2008. In this workshop, John will teach you the techniques for transforming your service business into a sellable company. You’ll learn how to:
• Calculate the value of your company using the same methodology acquirers use
• Bump up your multiple
• Create a reliable stream of recurring revenue
• Reduce your reliance on a few key clients
• “Productize” your service
• Reward and retain key employees without making them a partner
• Eliminate the need to respond to a Request For Proposal (RFP)
• Increase the number and quality of your referrals
• Spot and interpret the second most important sentence on an offer to buy your company
• Shorten the length and importance of an “earn out”
• Avoid the biggest mistake service firm owners make when getting their business ready to sell
• Structure agreements to include the one sentence you need to sell your business for a premium
Register using the discount code “BizLaunch” and you’ll save 25%.
Your workshop leader:
John Warrillow is the author of Built To Sell: Creating a Business That Can Thrive Without You, which was released by Portfolio/Penguin on April 28, 2011. He has started and exited four companies. Most recently he transformed Warrillow & Co. from a boutique consultancy into a recurring revenue model subscription business, which was acquired by The Corporate Executive Board (NASDAQ: EXBD). In 2008 he was recognized by BtoB Magazine’s “Who’s Who” list as one of America’s most influential business-to-business marketers.