I Sold Two Businesses in 24 Months — Here's Why You Can't Sell Your Business

I've sold 2 businesses in the last 24 months, and I have to tell you something that no one really understands, and here's why. So everyone you see out there building companies, flexing their Lambos, most of them, first of all, living off cash flow, not profit. And secondly, their business is worthless, so they couldn't sell it even if they wanted to. Going through the process of evaluating my company, listing it for millions of dollars, I learned how brokers and buyers actually look at companies and what they want to see. So here's 3 things you need to know if you're trying to build a company to sell one day. First is founder dependency. Other people call this key man risk. You need to build systems around around you and take you out of the business. Before a business is worth anything, it needs to have you effectively not be a part of it. The second thing is, who's the face of the company? Are you in every ad? Are you taking every sales call? If you want a business that's sellable, you need a brand. Personal brands are great, but they're not gonna benefit you in exiting any kind of company. And third, tell me about your systems. How do you acquire customers? Where do they come from? What's the lifetime value of them? Most businesses don't understand this and are effectively worth nothing. Follow these tips if you wanna build a business that's truly valuable that you can exit.