Here are my notes from a very readable book called Built to Sell: Creating a Business That Can Thrive Without You
- Do one thing well
- Treat like a product rather than bespoke service – one size fits all
- Service based companies are normally over-reliant on their founders – even if you can sell will result in an earn-out over 1-3 years post sale which is beyond your control
- Bill up front like a product sale – otherwise sales cycle means adverse cashflow
- Systematise the process into easy to follow steps
- Document the steps clearly so that anyone can follow
- Get rid of staff that are non-core to the one thing
- Measure number of leads and conversions to allow for systematic prediction of future revenue
- Hire two sales people – always two or more as they will compete
- Hire product rather than service sales people – the latter will use consultative selling that will require bespoke services
- Sack your other clients
- Allow three years
