010: Business Exit Plan: How to Build a Scalable Business That Works in Your Absence with Patrick Rogers

"In order to scale effectively, we have to be completely removed from the day-to-day operations in the business." -Patrick Rogers

A scalable business is a company that is profitable but also has the potential to become even more profitable, without the owner being directly involved in its day-to-day processes.

Creating a business model like this can be tough. But there are ways to can create a scalable business that can be successfully exited—and it doesn't have to come at the expense of our integrity.

Exit Planning Advisor and serial entrepreneur Patrick Rogers joins me this week for a powerful conversation on business building. Patrick has mentored CEO's and business leaders to achieve their goals and transform their organizations into successful entities positioned for a profitable exit.

In this episode, Patrick and I discuss the signs that a company has high growth potential, how to balance our life triangle (relationships, career, and self), the drivers that affect the value of a company, three processes that affect the scalability of a business, and critical attributes that every business owner should possess. Our goal as an entrepreneur should be to make our business as successful as possible— and that's exactly the core of our discussion. Join in!

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Highlights:

03:14 Signs of a Growth Potential

07:53 Stop Running Away

10:14 What is a Scalable Business?

15:38 Why Entrepreneurs Sell Their Business

21:57 Risks that Prevent the Sale of a Business

25:15 How to Make Your Company as Successful as Possible

27:25 Recap