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Build Your Business So You Can SELL It

📅 June 23, 2025 ⏱️ 58:36 🎤 Todd Dawalt, John Warllo

Chapters

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  • 0:00
    Unsellable Construction Businesses
    Todd introduces the episode's focus on selling businesses and highlights John Warillow's expertise, noting that most construction businesses are unsellable.
  • 3:42
    The Freedom Point
    John explains the 'freedom point' as the moment when selling your company, combined with other assets, creates enough liquid wealth to fund your desired life.
  • 4:50
    Selling with a 'Pull Factor'
    The discussion covers the importance of having a 'pull factor'—a clear vision of what you want to do next—to ensure satisfaction after selling your business.
  • 5:57
    Seller Due Diligence
    John advises on the due diligence a seller should perform on a buyer, especially when vendor take-back financing is involved, emphasizing the need to assess the buyer's experience and capabilities.
  • 7:48
    Avoid Self-Sabotage
    A common mistake business owners make when selling is answering the question 'What do you want for your company?' which can inadvertently set a low ceiling or deter buyers.

Speakers

T
Todd Dawalt
Host
J
John Warllo

Key Takeaways

✦

Transform your business to be less dependent on you by focusing on services that are 'teachable, valuable, and repeatable' (TVR) to employees, customers, and for recurring revenue.

✦

Implement a recurring revenue model, such as service contracts or maintenance programs, to significantly increase your business's value to potential buyers and provide a 'Trojan horse effect' for additional sales.

✦

Identify your 'freedom point' and have a clear 'pull factor'—what you want to do next—before deciding to sell to ensure post-sale satisfaction and avoid regret.

✦

Prepare your business for sale by getting all documentation in order, a process referred to as 'dressing for success' or 'pre-diligence,' to demonstrate seriousness and create deal momentum.

✦

Avoid stating an asking price for your business; instead, provide comprehensive data and let potential buyers determine its value to maximize your sale price.

✦

Be wary of vendor take-back deals where you finance a portion of the sale, and conduct thorough due diligence on the buyer's experience and financial capability.

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