<description>&lt;div class="OutlineElement Ltr SCXW166378825 BCX0"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Some of the richest founders &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;don't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; run &lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;trendy&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; companies. They run dirty ones. The kind of work &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;you'd&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; never brag about at a dinner party, but that quietly throws off real money because &lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;it's&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; hard, risky, and most people &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;won't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; do it.&lt;/span&gt;&lt;/span&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW166378825 BCX0"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt;  &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW166378825 BCX0"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt;  &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW166378825 BCX0"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;This Built to Sell Radio episode follows &lt;/span&gt;&lt;span class= "NormalTextRun CommentStart SpellingErrorV2Themed CommentHighlightPipeRest CommentHighlightRest SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Sh&lt;/span&gt;&lt;span class= "NormalTextRun SpellingErrorV2Themed CommentHighlightRest SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;e&lt;/span&gt;&lt;span class= "NormalTextRun SpellingErrorV2Themed CommentHighlightRest SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;nar&lt;/span&gt;&lt;span class= "NormalTextRun CommentHighlightRest SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt; Wood&lt;/span&gt;&lt;span class= "NormalTextRun CommentHighlightPipeRest SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;, who built an underground power business by taking on personal risk, earning trust job by job, and eventually selling when he hit a ceiling that had nothing to do with demand, you discover how to&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;:&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW166378825 BCX0"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt;  &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="1" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;Recognize the hidden ceiling that has nothing to do with demand and everything to do with your balance sheet&lt;/span&gt;&lt;span class="EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="2" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Stop confusing "more revenue" with "more value" when margin and risk &lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;aren't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; improving&lt;/span&gt;&lt;/span&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="3" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;Build a reputation flywheel where customers feed you better work because they trust how you operate&lt;/span&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="4" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Separate assets from value so you &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;don't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; overestimate what a buyer will pay for "stuff"&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="5" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt;Fix the financial story before a buyer forces an expensive cleanup under pressure&lt;/span&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="6" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Negotiate earn-out terms so the buyer &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;can't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; hit your results by moving costs onto your books&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW166378825 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW166378825 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW166378825 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="7" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW166378825 BCX0"&gt;&lt;span class= "TextRun SCXW166378825 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;Decide when &lt;/span&gt;&lt;span class="NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle="Normal (Web)"&gt;it's&lt;/span&gt;&lt;span class= "NormalTextRun SCXW166378825 BCX0" data-ccp-parastyle= "Normal (Web)"&gt; smarter to sell now than grind for years just to add a rounding error to valuation&lt;/span&gt;&lt;/span&gt;&lt;span class= "EOP SCXW166378825 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt;</description>

Built to Sell Radio

John Warrillow

Ep 528 The Dirty Businesses that Create Quiet Millionaires

JAN 9, 202662 MIN
Built to Sell Radio

Ep 528 The Dirty Businesses that Create Quiet Millionaires

JAN 9, 202662 MIN

Description

Some of the richest founders don't run trendy companies. They run dirty ones. The kind of work you'd never brag about at a dinner party, but that quietly throws off real money because it's hard, risky, and most people won't do it. This Built to Sell Radio episode follows Shenar Wood, who built an underground power business by taking on personal risk, earning trust job by job, and eventually selling when he hit a ceiling that had nothing to do with demand, you discover how to: Recognize the hidden ceiling that has nothing to do with demand and everything to do with your balance sheet Stop confusing "more revenue" with "more value" when margin and risk aren't improving Build a reputation flywheel where customers feed you better work because they trust how you operate Separate assets from value so you don't overestimate what a buyer will pay for "stuff" Fix the financial story before a buyer forces an expensive cleanup under pressure Negotiate earn-out terms so the buyer can't hit your results by moving costs onto your books Decide when it's smarter to sell now than grind for years just to add a rounding error to valuation