If you're selling your company, you need to know two things. First, congratulations, you're now a seller. Second, sellers must learn to do three specific things for the ultimate success.Success follows patterns. So does failure.[tweet_box design="default" url="http://jef.tips/j13sml16" float="none"]The difference between success and failure is knowing both what to do and not do.[/tweet_box]Trust me, I should know.I was that kid right out of school who started an EdTech with no money, experience, or team.To the outside world, I'm considered an 'overnight' success with my 9-figure exit.Let's save that perception for Hollywood. When it comes to success, the only overnight in your success is your late nights getting things done.My first experience as a seller found me. An experienced buyer approached me to buy my EdTech.To the world, and the buyer, I was crazy when I said no to a 7-figure exit.The process and experience showed me that I was not prepared. On the spot, I dedicated myself to mastering the art and science of selling a company.I immersed myself in the mergers and acquisitions world and showed up as a newbie.Failure was my new best friend.I graduated with a PhD from the School of Hard Knocks.My 9-figure exit was not a coincidence.There are three specific things sellers must learn to do to achieve the ultimate success.What are these three things?Keep reading to find out.
The oldest, shortest words – ‘yes’ and ‘no’ – are those which require the most thought - Pythagoras
The first of the three things sellers must learn to do is to say 'no.'Say 'no' to what?A great question with a life-changing answer.Whether you're selling your company, or not, you're likely failing in the area of saying 'no.'Most people do, including me.My journey had me meet and speak with billionaires, millionaires, and successful entrepreneurs.I listened, watched, and learned.Successful people are successful because they've mastered the art of saying 'no.'And so should you.Of all the things sellers must learn to do, saying 'no' is the most difficult.Social programming has you trained to say 'yes,' even if you don't want to.[tweet_box design="default" url="http://jef.tips/j13sml16" float="none"]Say 'no' to the trivial so you can say 'yes' to success.[/tweet_box]If you didn't have enough time before you decided to sell your company, you'll have even less time now.Selling your company is all consuming.Your time, energy, and focus need to be on the sales process.You're up against smart and experienced buyers who are counting on you to make mistakes.Sellers must learn to do this one thing, say 'no,' to the unimportant for success.My 9-figure exit resulted from my ability to say 'no' to anything and anybody that didn't move my goal forward.Saying 'no' to opportunity is difficult, particularly for us entrepreneurs.But if you want success, know that sellers must learn to do this one thing and say 'no.'To help the cause, read my article, "Why Saying No To Opportunities Is Saying Yes To Success."Try it now, and you'll thank me later.
If you light a lamp for somebody, it will also brighten your path - Buddha
To retire rich and happy, sellers must learn to help people get what they want.When I tuned into success radio WII FM, an amazing thing happened. I unlocked the gates of my sweet success.Where can you find WII FM?In your actions.WII FM is not a radio station, and instead, is a way of life.When selling your business, every buyer and investment banker tunes into WII FM and asks, "What's In It For Me?"Answer this question, through actions, and you'll unlock your success.You can have the best company in the world, but if prospective buyers can't answer "what's in it for me," you have nothing.This principle is one of the nine things rich and successful people always do.And so should you.[tweet_box design="default" url="http://jef.tips/j13sml16" float="none"]The secret to success is helping others get what they way so you can get what you want.[/tweet_box]When I was selling my EdTech, I put myself in the shoes of the prospective buyers and the investment bankers.Sellers must learn to help investment bankers and buyers get what they want.Show prospective buyers a bright future with untapped opportunity and profits.Investment bankers need to know they can trust you and that your company is the next big thing.I get it.You want to retire rich and happy.Get the buyers and investment bankers excited about the money they'll make.Sellers must learn to tune into WII FM by helping other people get what they want.Do this, my rockstar entrepreneur, and you're well on your way.We've talked about how sellers must learn to say 'no' and tune into WII FM.But we're not done.Do you know the third thing sellers must learn to do if they want to retire rich and happy?Keep reading.
It takes two flints to make a fire - Louisa May Alcott
Sellers must learn to build their dream team, and immediately afterward, fire themselves.Why?Simple.You'll be happier and richer when your company runs without you.It's challenging enough to run your business as a solo act.When you're selling your business, you've entered a different realm.You'll likely fail if you try to sell your business and run your business on your own.As important, your future buyer needs to know that your company runs without you.Think about it.When your bank account is full of zeroes you'll want to be anywhere but in your former business.Your future buyer knows this and wants security that you're business runs without you.Truth is even if you don't sell your business you're better off having your dream team.My rockstar entrepreneur, you're creative, a visionary, smart, and talented.The daily grind doesn't exploit your strengths.Delegate everything you shouldn't be doing.Focus on the vision for your company and the future.Your team will jump at the opportunity for more money and responsibility.You'll be happier.Your customers benefit.Your profits skyrocket.Its a win-win-win no matter how you look at it.Know this and know this well.Sellers must learn to build their dream team and get out of the way.Try it now, and you'll thank me later.And so will your customers and team.
Sellers must learn to do three things to retire rich and happy when selling their company.I should know.When I did none of these things the first time a buyer approached me to sell my company, the resulted showed.When I said 'no,' I dedicated myself to master the art and science of selling a company.What I learned shocked me.Success in life is knowing both what to do and not to do.I spoke to anyone and everyone in mergers and acquisitions to learn the secrets of success.The process was slow and painful.What emerged was a playbook for how to sell a company and win.Win big.By applying these three techniques, my EdTech experienced a 9-figure exit.When sellers learn to do these three things you turn the tables and put the odds in your favor.And the best part is that even if you don't sell your company, these three things help your profits soar.So what are you waiting for?Everything you need to succeed is already within you, right now.You can do it.I know you can.Here's to you and your success!Your BIGGEST Raving Fan,Jeffrey Feldberg