Daniel Priestley

And the reason I say that is because when someone crunches the numbers, they go, well, it is founder dependent. Like it's largely built on you. The proprietary assets are mostly linked to you. And then they give you a price of what, and they give you like a transition, 18 month transition plan. And when you kind of look at the price and the transition plan, you go, meh, I'll just keep it.

And the reason I say that is because when someone crunches the numbers, they go, well, it is founder dependent. Like it's largely built on you. The proprietary assets are mostly linked to you. And then they give you a price of what, and they give you like a transition, 18 month transition plan. And when you kind of look at the price and the transition plan, you go, meh, I'll just keep it.

And the reason I say that is because when someone crunches the numbers, they go, well, it is founder dependent. Like it's largely built on you. The proprietary assets are mostly linked to you. And then they give you a price of what, and they give you like a transition, 18 month transition plan. And when you kind of look at the price and the transition plan, you go, meh, I'll just keep it.

So you keep kind of dancing up against, oh, I could sell it to, eh, it's not worth it. I think it was public information, but Stephen Bartlett got offered $100 million, but it just wasn't a good enough deal. So it's like, okay, I can do this on my own. So anyway, these are lifestyle businesses. Then there are performance businesses, minimum 30 people, minimum $10 million of revenue,

So you keep kind of dancing up against, oh, I could sell it to, eh, it's not worth it. I think it was public information, but Stephen Bartlett got offered $100 million, but it just wasn't a good enough deal. So it's like, okay, I can do this on my own. So anyway, these are lifestyle businesses. Then there are performance businesses, minimum 30 people, minimum $10 million of revenue,

So you keep kind of dancing up against, oh, I could sell it to, eh, it's not worth it. I think it was public information, but Stephen Bartlett got offered $100 million, but it just wasn't a good enough deal. So it's like, okay, I can do this on my own. So anyway, these are lifestyle businesses. Then there are performance businesses, minimum 30 people, minimum $10 million of revenue,

and subscription revenue and proprietary assets. And these are the ones that do sell. So I would say 90% of people should build a lifestyle business and only a small percentage of people should build a performance business because a performance business is hard. It's a black belt move. You're having this experience, right? So your experience is modern wisdom is a lifestyle business.

and subscription revenue and proprietary assets. And these are the ones that do sell. So I would say 90% of people should build a lifestyle business and only a small percentage of people should build a performance business because a performance business is hard. It's a black belt move. You're having this experience, right? So your experience is modern wisdom is a lifestyle business.

and subscription revenue and proprietary assets. And these are the ones that do sell. So I would say 90% of people should build a lifestyle business and only a small percentage of people should build a performance business because a performance business is hard. It's a black belt move. You're having this experience, right? So your experience is modern wisdom is a lifestyle business.

And this one is going to be a performance business. Fast forward two years from now, you're going to have a board of directors. You'll have someone who's like ex-Pepsi on the board or whatever. Some Coca-Cola guy will join the board. You'll have 30 plus employees. You'll have recurring revenue contracts with all your distribution chain. You'll have all these proprietary assets online.

And this one is going to be a performance business. Fast forward two years from now, you're going to have a board of directors. You'll have someone who's like ex-Pepsi on the board or whatever. Some Coca-Cola guy will join the board. You'll have 30 plus employees. You'll have recurring revenue contracts with all your distribution chain. You'll have all these proprietary assets online.

And this one is going to be a performance business. Fast forward two years from now, you're going to have a board of directors. You'll have someone who's like ex-Pepsi on the board or whatever. Some Coca-Cola guy will join the board. You'll have 30 plus employees. You'll have recurring revenue contracts with all your distribution chain. You'll have all these proprietary assets online.

And then along will come Coca-Cola or Pepsi and they'll offer you an amount of money that will completely change your life and blow your mind. And that will be like a moment.

And then along will come Coca-Cola or Pepsi and they'll offer you an amount of money that will completely change your life and blow your mind. And that will be like a moment.

And then along will come Coca-Cola or Pepsi and they'll offer you an amount of money that will completely change your life and blow your mind. And that will be like a moment.

Well, once you've had one exit, you realize how quickly you get over it. So if you've sold a business, you realize that, oh my goodness, what was once deeply personal extension of myself, what was once my baby, gets sold, and the deal is done, and then I move on with my life, and I'm really happy I sold it. And you go, oh, okay. Like, I get that I can actually have separation.

Well, once you've had one exit, you realize how quickly you get over it. So if you've sold a business, you realize that, oh my goodness, what was once deeply personal extension of myself, what was once my baby, gets sold, and the deal is done, and then I move on with my life, and I'm really happy I sold it. And you go, oh, okay. Like, I get that I can actually have separation.

Well, once you've had one exit, you realize how quickly you get over it. So if you've sold a business, you realize that, oh my goodness, what was once deeply personal extension of myself, what was once my baby, gets sold, and the deal is done, and then I move on with my life, and I'm really happy I sold it. And you go, oh, okay. Like, I get that I can actually have separation.

When you have real kids, when you actually have kids, it changes the game completely because you no longer place that level of attachment to a business. You just... You completely, you have these other entities in your life that have real paternal energy wrapped up in them. And then businesses can never even get close to that. So you can never feel that way about a business once you've had kids.

When you have real kids, when you actually have kids, it changes the game completely because you no longer place that level of attachment to a business. You just... You completely, you have these other entities in your life that have real paternal energy wrapped up in them. And then businesses can never even get close to that. So you can never feel that way about a business once you've had kids.