Built to Sell: Creating a Business That Can Thrive Without You

This week, I’d like you to write an instruction manual for the Five-Step Logo Design Process. Bring it with you next time we meet and we can talk about how it is working.”

Relying too heavily on one client is risky and will turn off potential buyers. Make sure that no one client makes up more than 15 percent of your revenue.

Expect to garner a premium for your business if you can demonstrate a loyal group of customers who have made an investment in your platform.

much. As an employee, I’d much rather have an understandable cash bonus plan than a few shares in a closely held small business.”

Avoid an adviser who offers to broker a discussion with a single client. You want to ensure there is competition for your business and avoid being used as a pawn for your adviser to curry favor with his or her best client.

“Your job as an entrepreneur is to hire salespeople to sell your products and services so you can spend your time selling your company. You make a few hundred or thousand dollars when you sell your product, but if you turned those same skills to selling your company, you can make exponentially more. You have the right skills, but you’re selling the

If you get an offer to buy your company, the second most important number on the page may be the working capital calculation. If your offer does not include details on the working capital calculation, be sure to lock that number down before you agree to anything.

You need at least two years of financial statements reflecting your use of the standardized offering model before you sell your company.

TED’S TIP # 12 Build a management team and offer them a long-term incentive plan that rewards their personal performance and loyalty.