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Daniel Priestley

πŸ‘€ Speaker
4387 total appearances

Appearances Over Time

Podcast Appearances

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And this is our org chart of our 30-plus people who are going to stick around after I leave. then you get wildly high valuation, and it's life-changing. So it's a life-changing amount of money all in one hit. You typically can earn more than most people earn in their entire career in one sale. And mind you, we hear about the billionaire ones.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And this is our org chart of our 30-plus people who are going to stick around after I leave. then you get wildly high valuation, and it's life-changing. So it's a life-changing amount of money all in one hit. You typically can earn more than most people earn in their entire career in one sale. And mind you, we hear about the billionaire ones.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

We hear about the Mark Zuckerberg sold a company or whatever. But every day of the week, non-newsworthy, there are people who sell a company for $12 million or $6 million or $22 million. These ones don't even make the news. So you can have these kind of events where you sell the business for a multiple of revenue. One of my businesses, we just turned down an offer for 35 times profit.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

We hear about the Mark Zuckerberg sold a company or whatever. But every day of the week, non-newsworthy, there are people who sell a company for $12 million or $6 million or $22 million. These ones don't even make the news. So you can have these kind of events where you sell the business for a multiple of revenue. One of my businesses, we just turned down an offer for 35 times profit.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

We hear about the Mark Zuckerberg sold a company or whatever. But every day of the week, non-newsworthy, there are people who sell a company for $12 million or $6 million or $22 million. These ones don't even make the news. So you can have these kind of events where you sell the business for a multiple of revenue. One of my businesses, we just turned down an offer for 35 times profit.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And we turned it down. Why did you turn it down? Yeah. Because the business is going like that. And we set expectations around a certain level that we would sell the business. So like there's an actual number that we want to hit, which is like we're slightly off. And because I've been on a journey with these investors and I don't need to sell the business. Keep writing it.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And we turned it down. Why did you turn it down? Yeah. Because the business is going like that. And we set expectations around a certain level that we would sell the business. So like there's an actual number that we want to hit, which is like we're slightly off. And because I've been on a journey with these investors and I don't need to sell the business. Keep writing it.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And we turned it down. Why did you turn it down? Yeah. Because the business is going like that. And we set expectations around a certain level that we would sell the business. So like there's an actual number that we want to hit, which is like we're slightly off. And because I've been on a journey with these investors and I don't need to sell the business. Keep writing it.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah, keep writing it and just hit that number and then we'll probably do the deal.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah, keep writing it and just hit that number and then we'll probably do the deal.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah, keep writing it and just hit that number and then we'll probably do the deal.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

But imagine getting 35 years worth of profit in one year, like in one go, like it's life changing. So you can have these kind of exits that are, you know, profound. And all you have to do is prove that the team won't leave. Here's the org chart, that the finance, that the contracted revenue is going to keep contracted. And that you have proprietary assets.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

But imagine getting 35 years worth of profit in one year, like in one go, like it's life changing. So you can have these kind of exits that are, you know, profound. And all you have to do is prove that the team won't leave. Here's the org chart, that the finance, that the contracted revenue is going to keep contracted. And that you have proprietary assets.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

But imagine getting 35 years worth of profit in one year, like in one go, like it's life changing. So you can have these kind of exits that are, you know, profound. And all you have to do is prove that the team won't leave. Here's the org chart, that the finance, that the contracted revenue is going to keep contracted. And that you have proprietary assets.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And if you've got those three things, you then can basically put those into a set of documents. And once again, going back to the 30 people, you pitch that business 30 times and you're going to sell it for a life-changing amount of money at that point. So yeah, it's pretty cool. It's pretty wild.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And if you've got those three things, you then can basically put those into a set of documents. And once again, going back to the 30 people, you pitch that business 30 times and you're going to sell it for a life-changing amount of money at that point. So yeah, it's pretty cool. It's pretty wild.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

And if you've got those three things, you then can basically put those into a set of documents. And once again, going back to the 30 people, you pitch that business 30 times and you're going to sell it for a life-changing amount of money at that point. So yeah, it's pretty cool. It's pretty wild.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. So a lifestyle business, a lifestyle boutique is normally built around the brand of the founder, the key person of influence. The revenue, you want to keep the team at about eight to 12, never 13. It's geared towards fun, freedom, flexibility, and cashflow. And it's never, it tends to be that it's never worth selling.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. So a lifestyle business, a lifestyle boutique is normally built around the brand of the founder, the key person of influence. The revenue, you want to keep the team at about eight to 12, never 13. It's geared towards fun, freedom, flexibility, and cashflow. And it's never, it tends to be that it's never worth selling.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

Yeah. So a lifestyle business, a lifestyle boutique is normally built around the brand of the founder, the key person of influence. The revenue, you want to keep the team at about eight to 12, never 13. It's geared towards fun, freedom, flexibility, and cashflow. And it's never, it tends to be that it's never worth selling.