One of the ways that many people fund their lifestyles is through building and selling businesses. In fact, you can add to your income and financial freedom if you know how to build a business that is designed to sell. One of my fellow bloggers here at AllBusiness.com, John Warrillow, has written a book called Built to Sell. He sent me a complimentary copy, and I read it. I found that it had very good advice.
Built to Sell is relatively short, and it follows the story of a fictional entrepreneur who realizes that his business — the business he wants to sell — is basically worthless. He learns how to do what it takes to make his business an attractive one to buyers.
You can follow his progress and learn valuable lessons when you read Built to Sell. This book is easy to read, and provides a number of helpful steps and practical suggestions that you can put into place. One of my favorite hints from the book involves turning your business into a cash generator by offering a specialized product. Warrillow points out that we pay for services after they are rendered, but we pay for products up front. (“When you go to Costco to buy toilet paper, you expect to pay for it before you use it!”) The key is to turn a service you offer into a product. (This is something I can use with my freelancing business.)
The book follows the process through, pointing out that you need a business that can function without out, that you need to have a specialization (not just offer something generalized), and helping you learn how to gain momentum and manage growth.
Built to Sell truly is a valuable resource for anyone who is interested in creating a business that someone else will want to buy.