Entrepreneurs on Fire

How to Punch Above Your Weight in a Negotiation to Sell Your Business with John Warrillow: An EOFire Classic from 2021

Nov 24, 2023
John Warrillow, founder of The Value Builder System, shares valuable insights on selling a business. Topics include mindset, finding the right buyer, negotiating, post-COVID selling trends, gaining leverage, not appearing desperate, and connecting with the guest's business.
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ADVICE

Be Open to Offers

  • Seriously consider any offer you receive to sell your business.
  • This puts you in a strong position to negotiate, as someone is actively interested in buying.
ANECDOTE

Rand Fishkin's Missed Opportunity

  • Rand Fishkin refused a $25 million offer from HubSpot for his company Moz, which later became worthless.
  • The offer, primarily in HubSpot stock, would now be worth over $200 million, highlighting the potential cost of missed opportunities.
ADVICE

Avoid Revealing Your Number

  • Avoid answering "What's your number?" too early in negotiations.
  • Revealing your desired price sets a ceiling and gives the buyer a significant advantage.
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