What it Takes to Start a Sellable Business
by Tim Healy
You dream of taking a passion and turning it into a successful business. Then what? My guest today is here to show you how to build your dream into a sellable business.
My guest today is Dave Kerpen, serial entrepreneur, global keynote speaker, and best-selling author. In 2007, he and his wife Carrie started Likeable Media, which they recently sold in an 8-figure deal.
Download this week’s episode of The Profit Express to hear how Dave and his wife Kerry were able to put themselves in the position to sell the family company, what it’s like having a business partnership with a spouse, and who is the better salesperson in the marriage.
This week’s episode of The Profit Express is brought to you by Corbett Public Relations, Promoting and Protecting Businesses and Brands for over 30 years.
A Creative Solution
Likeable Media started like most businesses do – at a wedding. Listen at 2:13 as Dave tells the story of how he and Carrie came up with the idea to start their own company. When they didn’t have the funds for the wedding of their dreams, they got creative. After tying the knot, they naturally couldn’t get married again, so they started something new.
The Bridge to Success
While we dream of it, overnight success doesn’t happen in 99% of businesses. The bridge years between starting a company and achieving your goals are important ones that contain endless challenges. At 8:25, Dave talks about how they sold their way out of a number of jams without knowing much else about running a business. Listen to hear how he attributes his relationships to them keeping the business afloat.
One trait that many successful people have in common is a drive to succeed. Listen at 12:45 as Dave attributes his success to a relentless drive and never-ending discontentment. Never having satisfaction means always aiming a little higher.
Don’t be Afraid of The Big Ask
As Dave has already said, his relationships helped him survive the early years of his company. At 17:00, he speaks about how he approaches asking for introductions to form new business relationships. While it is normal to be afraid of rejection, Dave believes that nothing ventured is nothing gained. The answer might be a “yes” if you put yourself out there, but it will definitely be a “no” if you don’t ask.
Having the Hard Conversations
Dave is one of many entrepreneurs who got into business with a member of the family. While he encourages others to follow his lead, he acknowledges it hasn’t always been easy. Listen at 28:55 to hear how he and Carrie have been able to have tough conversations as business partners without affecting their marriage. When you commit to doing the work to improve communication, you will make the best team possible.
Dave Kerpen is never satisfied – despite the big sale of Likeable, he isn’t motivated just by money in the bank. At 38:15, he speaks about some of his upcoming projects, as well as how his 17-year-old daughter helped him think up a new word.