Happy Ending

There are a lot of things on my list of things I wish I had known before starting a business.
Last year, Derek started showing up in my Facebook feed posting funny business stuff reels that made me want to catch up, and he told me he was writing a book about selling his business in 2022.

So I bought it; I immediately loved its frank and to the point style, and I read it in like 3 days.
It's a super easy read, despite the fact that it's a serious and technical subject, at times, it's funny, AND there's lots of cool drawings, which add a lightness to the story.

It was a very close to home read, not in the sense of 'you should buy the book to be good at running a business' but in the sense that there are a lot of things in the book that are suspiciously similar to content I've already written or planned to write...thanks for that Derek Morin😂

Business like what?
-The Bus Test: Will your business survive if you get hit by a bus tomorrow?
-Work ON your business and not IN your business
-Know your numbers well.
-Just do 1 really good deal instead of doing 26 at 5% (Math, am I right?!)
-Having an obsession with numbers
-Put systems in place to make you useless.

Anyway, this is obviously not a how-to on how to sell your business, but there are definitely some food for thought for someone who wants to build a business that works for you and not be stuck working for your business, whether you're thinking about selling it or not.

- Amélie

Wow, wow and rewow. I just finished reading it and finally, very easy to read 😁. I loved it!
And it's definitely a book I want to give to my clients.

Not against, I'll admit that I'm a little speechless. 😮🥳🤔

I have been simmering my business project in its current form for a little over a year.
I am a Business Management and Optimization Strategist (totally made-up title because I couldn't find anything else descriptive) but guess what my service proposal is? Check the accounting plans to make sure the numbers can speak, clean up expenses and income so analyze what is profitable, what is not, and cut non-essential expenses, review the company's procedures and improve them where possible, and make forecasts based on the entrepreneurs' objectives. Can I tell you that I looked like an idiot when I started reading your steps 😮😮😮 lucky that I started offering the service and talking about it a few months ago because I would have totally felt like I was copying your book and stealing your way of doing things. Ok I have a bit of that impression, but at the same time you confirm that the result of all my analyses over the last few years was on the mark, 🤩

And at the same time, I confirmed that my business model in its current form will not be saleable and probably not "sustainable" in its current form in the long term, but damn it would be cool to change the business of several hundred entrepreneurs in the meantime.

My personal business mission is to stop entrepreneurial failure.

Anyways, congratulations again for your book, if you allow me I will integrate it into my services and my anecdotes because it is totally complementary and I think that all entrepreneurs should manage their businesses with the end in mind. ❤️

This book answers several questions including: How do I build my business to sell it? Do I have the right team? Is this the right timing? Am I putting my efforts in the right places?

Personally, reading this book was a game changer in how I operate my new startup.

𝗟𝐞 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤: 𝐛𝐨𝐢𝐭𝐞 𝐟𝐨𝐜𝐮𝐬
The importance of keeping the focus on a single product, with a simplified process, led by a single dedicated team and targeting a single customer segment.

𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐞
Keep in mind to document the processes as you go, in the form of hypothesis logs with the conclusions of the experiments. This demonstrates to buyers that you are managing things well.

𝐋'𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞𝐬 𝐬𝐩𝐫𝐢𝐧𝐭𝐢𝐜𝐞...
You won't sell your business based on its average performance since day 1, but rather based on its peak performance over the 12 months prior to the sale.

𝐋𝐞 𝐛𝐨𝐧𝐡𝐞𝐮𝐫 𝐚𝐥𝐢𝐦𝐞𝐧𝐭𝐞 𝐥𝐚𝐭𝐞𝐫𝐬
Buyers won't look at your team's resumes. They're interested in whether the team has good chemistry and is loyal to the company.

𝐑𝐞𝐯𝐨𝐢𝐫 𝐭𝐞𝐬 𝐝𝐞𝐬𝐬𝐭𝐞𝐬𝐬
Integrate the PURE framework to invest your efforts in the right places. Ask yourself the question for each expense:
P Is it (p)rofitable?
U Is it (u)tile?
R Can I (re)duce or (r)place it?
E You can't do anything, it remains (e)qual, we don't touch.

And so on...

If you are planning to exit, dive into this reading to experience a Happy Ending with your business.

- Jonathan Taillefer

From the first pages, I was captivated. This book is not just a business story, it is a life manual for anyone who dreams of turning an idea into a business success! Derek shares without restraint his journey to selling his business. His style is direct and engaging, with a sense of humor that makes the reading both informative and highly enjoyable! Derek's advice, especially his "PURE" method for financial management, are tools that every entrepreneur should have in their toolbox. His approach not only helped me understand my finances, but also gave me a clear vision of how to plan and execute a successful exit strategy. Thank you Derek! ❤

- Photos Katsanevakis

This is a good book, well written and very relatable. It motivates you to take the same direction for your business. I recommend it to any entrepreneur.

- Nic Milot