Key Points from Book: Built to Sell

Don’t generalize, specialize. Focus on doing one thing well and hire specialist in that area

Relying too heavily on one client is riskya nd will turn off potential buyers

Owning a process makes it easier to pitch and outs you in control

Don’t become synonymous with your company. Your business should be running with your absence

Avoid the cash suck, charge up front

Don’t be afraid to say no to new projects

Take some time to figure how many pipeline prospects will likely lead to sales

Two sales reps are always better than one, they will be competitive which is good for you

Hire people who are good st selling products, not services

Ignore your profit and loss statement in the yesr you make the switch to a standardized offering even if it means you and your employees will have to forgo bonus that year

You need at least 2 yeas of financial statements reflecting your use of the standardized offering model before you sell your company

Build a management team and offer them a long term incentive plan that rewards their personal performance and loyalty

Find an adviser whim you will be neither their largest nor their smallest client. Make sure they know your industry

Avoid an adviser who offers to broker a discussion with a singke client

Think big, write a three year business plan that paints a picture of what is possible for your business

If you want to be a sellable, product oriented business, you need to use the languane of one. Change clients into customers, firm into business

Don’t issue stock option to reatin key employees after an acqusition

Advertisements

About agent909

Kevin Yulianto is a private trader and equity portfolio manager with over 4 years of experience. He was born in Jakarta at July 18th 1994, graduated with Bachelor of Medicine Degree from Atma Jaya Catholic University of Indonesia in 2015 and is expected to receive Master of Management Degree from Binus Business School in 2017. Currently he is pursuing his professional certification in the CFA and FRM program, in which he passed level 1 for both program in 2016. Kevin is an avid traveler and photographer, with a record of 32 countries visited in 2016. He is a freelance contributor at Getty Image and is running two website in his spare time, journeyman.live and idxstockwatch.wordpress.com.
This entry was posted in Review and Ideas and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s