Bo spent over twenty years as an editor and editor-at-large of Inc. Magazine and is the author of five books, including three of my personal favorites Finish Big, Small Giants and The Great Game of Business. Bo explains to us the wide range of “good” and “bad” exits from businesses built by owner-founder entrepreneurs, and why over 75% regret the sale 12 months later.
What You Will Learn in Today’s Podcast Interview:
Podcast Summary:
About the Guest:
Bo Burlingham is currently a contributor to Forbes where he produces the magazine's annual Small Giants section. Previously, he worked for 33 years at Inc. magazine, as senior editor, executive editor, and editor at large.
He is the coauthor, with Jack Stack, of The Great Game of Business and A Stake in the Outcome and, with Norm Brodsky, of The Knack (renamed Street Smarts in paperback). He is also the author of Small Giants and Finish Big. The popularity of Small Giants led to the creation of the Small Giants Community where business leaders learn and share practices and systems they can use to make their companies great, whether or not the businesses are big.
Podcast Interview Quotes:
14:32 – “One thing that struck me was how many people I talked to were unhappy and wished they hadn’t sold their businesses and were full of regrets and that there were parts of the whole experience that they didn’t like.” – Bo Burlingham
21:42 – “People who have a clear idea in their own mind about who they are or what they want and why are able to make decisions that are going to make them happy. Whereas otherwise you end up making decisions based on other people and what they think you should do.” – Bo Burlingham
22:00 – “It’s important to build a sellable company and by ‘sellable’ I mean that you’re able to sell your company to who you wanted, when you wanted, and why--or for an amount that you considered fair.” – Bo Burlingham
52:00 – “There are a lot of responsibilities that come with ownership and there are a lot of times where you have to do things you don’t want to do.” – Bo Burlingham
58:43 - “I really think the most powerful business tool that I have ever seen has been open-book management. At least, as it’s been practiced by Jack Stack.” - Bo Burlingham
Links and Resources:
Episode with Norm Bordsky: From Bankrupt to $270 Million Dollars
Finish Big: How Great Entrepreneurs Exit Their Companies on Top, by Bo Burlingham
Small Giants: Companies That Choose to Be Great Instead of Big, 10th-Anniversary Edition, by Bo Burlingham
Mastering Your Cash Flow Digital Course
Reach out to me if you have questions about the boot camp!
You can also reach out to me via email at [email protected], on my LinkedIn.
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