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.
29:08
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Quick takeaways
- Selling a business is not a negative reflection on an entrepreneur and can be a smart and strategic decision.
- Gaining leverage in negotiations by having multiple bidders increases the chances of securing a fair deal.
Deep dives
The trend of selling businesses sooner
As a result of the pandemic, more people are selling their businesses earlier than expected. The pandemic has led to a 20% increase in the number of people moving up their sell-by dates. Additionally, there is a significant drop in the desire to pass businesses down to children, with more individuals opting to sell to third parties. Low interest rates have also boosted the private equity market, making it an interesting and lucrative environment for potential sellers.
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