Built to Sell emphasizes creating a business model that functions independently, specializes in one service, diversifies its customer base, and uses a repeatable process for success.
Main Lessons
- Specialization is key: Focus on one service to become an expert and excel in the market.
- Avoid over-reliance: Diversify your client base to ensure no single customer dominates your revenue.
- Standardize offerings: Develop a Standard Service Offering (SSO) that delivers consistent value.
- Build independence: Create a business model that can run without your direct involvement.
- Develop a sales team: Ensure your business has a capable team to drive scalable sales.
- Positive cash flow: Aim for a business with a predictable and positive cash flow cycle.
- Hire top talent: Attract specialists by focusing on a singular area of expertise.
- Mitigate risk: Spread income sources to reduce vulnerability to financial shifts.
- Resist customization: Stick to your process instead of constantly adapting it for clients.
- Focus on scalability: Offer services or products that can grow with the business.
- Create value: Ensure your offering is valuable enough for your clients to return.
- Prepare for sale: Think like a buyer and build systems that are attractive to potential purchasers.
- Encourage repeatability: Design processes that can be easily taught to others.
