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Most business owners started their company because they wanted more freedom—to work on their own schedules, make the kind of money they deserve, and eventually retire on the fruits of their labor. Unfortunately, according to John Warrillow, most owners find that stepping out of the picture is extremely difficult because their business relies too heavily on their personal involvement. Without them, their company—no matter how big or profitable—is essentially worthless.
[...].. .can thrive without them at www.BuiltToSell.com John Warrillow Twitter: @JohnWarrillow Facebook.com/BuiltToSell Weekly blog updates: BuiltToSell.com/blog Acknowledgments They say that it takes a village to raise a child I feel the same way about writing a book This project is the sum total of what I have learned in business from starting and ultimately exiting four businesses My first business was a. .. in art class, but as far as Alex had seen, his talents didn’t translate well to marketing “Being creative is a great asset,” he said, “but the Stapleton Agency is a business And as a business, our first priority is to make money If you want to be an artist and have free rein, I suggest you go find somewhere else to work.” “But Alex, an agency is supposed to be a creative environment.” “An agency is a. .. not afford to lose MNY Bank as a client Last month, the bank amounted to $48,000 of the Stapleton Agency’s $120,000 in total billings Alex, Sarah, and the other six employees of the Stapleton Agency needed MNY Bank Traffic was heavy on the way across town and Alex was late for his second meeting of the day Sandy Garmalo sat at the table sipping San Pellegrino She ran the marketing department for a law... was hearing He’d spent eight years building the Stapleton Agency, and now the man he most respected in life and in business proclaimed it worthless “Are you saying I can t sell my business? ” “No, I’m saying that you can t sell it today If you want to sell it, we need to work on making some changes in your business I can help, but it won’t be easy You ll need to make some tough decisions and bold changes... inspired Alex to become an entrepreneur Ted had built and sold a number of businesses over the years and Alex had watched him reach new heights of personal and financial freedom Ted was a serial entrepreneur He had made his first million starting, and ultimately selling, an insurance agency He had moved on to build a consulting company, which he sold to a global firm He had also sold a commercial real estate... and Dave Wilton at Scotiabank, Jeff Parker at US Bank, Bruno Perreault at MasterCard, Derrick Ragland and Stephen Miller at HSBC, Karen Ripperger at The Principal, Karen Sawyer and James Wong at BMO, Karen Larrimer at PNC, Susan Sobbott, Howard Grosfield, and Denise Pickett at American Express, and Keith Williams and Becky Roemen at Entrepreneurs’ Organization (EO) My EO forum mates Mike Boydell, Sam... spelling and grammatical errors despite the fact that it was his third draft Alex drew a large black line diagonally across the page and scribbled REWRITE at the top He tossed the page to the side of his desk and promised himself to get rid of Tony as soon as he could replace Sarah Since Sarah had been preoccupied with the project for John Stevens, Alex had put his youngest designer, Elijah Kaplan, in charge... team, and the company’s lumpy cash flow He talked about how clients always wanted to deal with Alex himself and his agency’s dependency on MNY Bank Ted listened carefully, asking questions for clarification After about thirty minutes, Ted asked a question that seemed somewhat odd “How would you describe your business to a stranger at a cocktail party?” Alex thought about this, slightly aggravated to. .. computer, and took a sip of coffee as it fired up He scanned his e-mail inbox and noted a message from Blair Donaldson Alex immediately recognized the name as that of USW’s chief marketing officer The subject line read simply: Congratulations As he opened the note, Alex’s mind began to race He scanned the first few paragraphs and realized the Stapleton Agency had been offered a contract to become the agency... speech and for being the very first copy editor of this book Dad, you taught me everything I know about business and being a father and I’ll always try to be half as good as you were at both To JB and The Lads, you make it all worthwhile 1 A Company in Chaos Alex Stapleton wheeled the Range Rover into the parking lot of MNY Bank He grabbed his portfolio from the backseat and sprinted to the doors A quick . Great Instead of Big Preface This book is about how to create a business that can thrive without you. Once your business can run without you, you’ll have a valuable—sellable—asset. I could have. businesses that do not sell. This book provides a framework and action plan for ensuring that you are among that desired 1 percent. This story is not an autobiography. Alex and Ted are an amalgam of. Lawrence at TD, Randy McCollum at Administaff, Kyle McNamara and Dave Wilton at Scotiabank, Jeff Parker at US Bank, Bruno Perreault at MasterCard, Derrick Ragland and Stephen Miller at HSBC, Karen