Build your company to sell it...because eventually you willStream below or right click here to download the episode.
Sales Tips you'll learn in The Sales Podcast...
- He had a graphic design small business and was doing everything on his own without leveraging content marketing or systems
- He was told his business was worthless because it was dependent upon him (25 years ago)
- For your business to be valuable it must be valuable without you
- We think top-line / bottom-line are key, which keeps us on the hamster wheel
- You need to narrow your focus so you can create training programs for your staff and remove yourself from the equation
- Use TVR
- Teachable—can I teach it to my team?
- Valuable—is it valuable coming from me?
- Commodities are not valuable
- Repeatable—how often do customers need to buy it?
- Find one with the ability to sell
Ask your customers "why do you buy from us?"
- Companies make a "build vs buy" decision when they look at buying you
- When you have all the money in the world like McDonald's you can add another revenue stream
- It's not easy to build a subscription but it's worth it
- Recurring revenue drives value
- Security companies have installation and monitoring revenue
- You'll get 75 cents on the dollar for every installation dollar of revenue but you'll get $2 per every monitoring dollar
- How a chiropractor can create a subscription model
- Stop thinking "I'll make my money when I sell" only to find out they created a job for themselves. Pull your money out as you go.
- Moved to a syndicated research model and sold it to what is now Gartner
- Six different forms of recurring revenue
- Simple consumables like coffee
- Sunk money consumables like a Keurig machine
- Subscription revenue
- Sunk money subscriptions like the Bloomberg terminal for traders who also pay for the subscripption
- Auto-renewal—in perpetuity with a storage facility like Iron Mountain
- Contract revenue is the best—CRM HubSpot subscriptions, etc.
- Repurpose Your Content Marketing To Grow Sales
- The Two Key Entrepreneurial Skills You Need Now
- Become a Black Belt in Inbound Marketing With Stephan Kesting
Listen To Previous Episodes of The Sales Podcast
Links Mentioned In The Sales Podcast
- Get John Warrillow's Books on Amazon
- Built to Sell: Creating a Business That Can Thrive Without You
- The Automatic Customer: Creating a Subscription Business in Any Industry
- Drilling for Gold: How Corporations Can Successfully Market to Small Businesses
- 3 Minute Summary of Built to Sell Creating a Business That Can Thrive Without You by John Warrillow (thimblesofplenty 3 Minute Business Book Summary Series 1)
- Visit Built To Sell
- Visit The Value Builder System and take the free quiz
- Average score is a 59 (3.5x their pre-tax profit)
If you need more help growing your sales, check out the following resources scattered around this site and a few others I operate, such as: