How to Sell Your Business: Building Value Beyond Yourself
Selling your business might feel like a distant or even impossible goal, but it’s more achievable than you think—if you take the right steps. In this episode of the Founder’s Fire Podcast, I break down the essentials of creating a business that not only thrives without you but becomes a valuable, sellable asset.
Here’s the roadmap:
1. Why Own a Business at All?
Owning a business isn’t just about making money—it’s about solving problems and fulfilling your calling. Your business should be a vehicle for your purpose, serving both you and your team. It’s the platform that allows you to create value, generate impact, and clarify your mission as you grow.
To start, think of your business as a launchpad: it pushes you forward and helps you realize your potential. But clarity is key—knowing what problems you’re solving and how your business delivers value is foundational. Without clarity, growth stalls.
2. How to Sell Your Business for an 11x Multiple
The dream of selling your business for a high multiple isn’t just about luck—it’s about systems. A sellable business is one that runs smoothly without you. If your business depends on you to function, you’re selling a job, not a company.
To transform your business into a system-driven machine:
Articulate a perfect customer journey story that defines the ideal experience for every client.
Build systems that align with this vision, ensuring every step of your operations runs seamlessly.
Replace yourself with roles that collectively handle leadership, sales, marketing, and operations.
Remember, systems are what investors buy, not your hard work.
3. The One Person Who Has to “Step Aside”
Spoiler alert: It’s you.
To grow, scale, and sell your business, you need to remove yourself as the bottleneck. Many business owners struggle to let go because their businesses are built entirely around them. By systemizing decision-making and empowering a management team, you create a business that’s sustainable—and sellable.
This doesn’t mean abdicating responsibility. It’s about progressive authority: incrementally training and trusting your team to take over, one system at a time.
4. Legacy or Lunacy?
Building a business is about more than money. It’s about creating something that lasts. Are your habits setting you up for legacy or burnout? Thomas Corley’s concept of opportunity luck reminds us that good daily habits create space for success to happen.
When you view your business as a product—not a job—it changes your approach. Focus on building systems, creating value, and enabling your team. Once your business operates independently of you, you might not even want to sell it.
Closing Thoughts
If selling your business is part of your long-term vision, start by transforming it into a system-driven operation. Remember, this isn’t just about preparing for a sale—it’s about creating freedom for yourself and unlocking opportunities for your team.
Let your business work for you, not the other way around.