Daniel Priestley

Yeah, so four proper exit exits. When you know it's the right time to exit? There's three things that the business has. You know that it's the right time when you don't actually want to sell it. When you want to sell a business, that's actually because it's not saleable. There's this horrible point. How do I get rid of this and then trick someone that this is valuable?

Yeah, so four proper exit exits. When you know it's the right time to exit? There's three things that the business has. You know that it's the right time when you don't actually want to sell it. When you want to sell a business, that's actually because it's not saleable. There's this horrible point. How do I get rid of this and then trick someone that this is valuable?

And that's definitely not the time to sell it. The feeling of a company, what a company feels like when it's saleable, it's like, why would I sell this? This is a great company. Because that's the maximum point where people are going to feel the same way about it. But there's three big things that companies have when they sell. So number one is recurring revenue contracts.

And that's definitely not the time to sell it. The feeling of a company, what a company feels like when it's saleable, it's like, why would I sell this? This is a great company. Because that's the maximum point where people are going to feel the same way about it. But there's three big things that companies have when they sell. So number one is recurring revenue contracts.

Businesses that sell for a lot of money, they've contracted their recurring revenue. They can forecast really far forward into the future. And they have some metrics that are all about like how much of our revenue is recurring and how much does it churn? Like how much does it go down if we leave it over time? So those numbers are super clear. It has a 30 person or more team.

Businesses that sell for a lot of money, they've contracted their recurring revenue. They can forecast really far forward into the future. And they have some metrics that are all about like how much of our revenue is recurring and how much does it churn? Like how much does it go down if we leave it over time? So those numbers are super clear. It has a 30 person or more team.

So you've got to have 30 people on the team so that when the founder leaves, the business doesn't fall apart. Because typically less than 30 has what's called founder dependency. And then you need what's called proprietary assets.

So you've got to have 30 people on the team so that when the founder leaves, the business doesn't fall apart. Because typically less than 30 has what's called founder dependency. And then you need what's called proprietary assets.

And proprietary assets are your unique brand, your database, it could be your systems and processes, it could be trademarks, you know, whatever it is that makes that business very hard to compete with. That is your moat, that is your proprietary asset. So those are your three big ones. Proprietary asset, 30 people plus on a team, and recurring revenues into the future.

And proprietary assets are your unique brand, your database, it could be your systems and processes, it could be trademarks, you know, whatever it is that makes that business very hard to compete with. That is your moat, that is your proprietary asset. So those are your three big ones. Proprietary asset, 30 people plus on a team, and recurring revenues into the future.

You get those three things right, you're going to change your life with an exit.

You get those three things right, you're going to change your life with an exit.

2007 was Twitter had just launched. YouTube was kind of like becoming... Brand new still.

2007 was Twitter had just launched. YouTube was kind of like becoming... Brand new still.

By the way, you and I are very similar. 2009, I was running events called You Blogging TwitFace. And it was all about how to use social media for business. And that was one of my first things. And it was YouTube, blogging, Twitter, Facebook. That's cool. Yeah, You Blogging TwitFace, it was called.

By the way, you and I are very similar. 2009, I was running events called You Blogging TwitFace. And it was all about how to use social media for business. And that was one of my first things. And it was YouTube, blogging, Twitter, Facebook. That's cool. Yeah, You Blogging TwitFace, it was called.

I wrote Key Person of Influence in 2009 and it came out in 2010. And it was the book on how to build a personal brand. So you and I lived a very similar experience.

I wrote Key Person of Influence in 2009 and it came out in 2010. And it was the book on how to build a personal brand. So you and I lived a very similar experience.

gain audience when everyone is making noise. Totally, totally. So from 2009 to 2020, all you had to do is show up consistently. That was it. And just showing up consistently, you would do this. Now you've got to be an A player. You've got to really have your A game if you want to show up.

gain audience when everyone is making noise. Totally, totally. So from 2009 to 2020, all you had to do is show up consistently. That was it. And just showing up consistently, you would do this. Now you've got to be an A player. You've got to really have your A game if you want to show up.