115: Build A Business Asset With Lisa-Kipps Brown (Part 1)
Many people start their business to create a job for themselves, but at some point it's time to move beyond working all day and create a business asset that works for you. Have you ever wondered what steps to take first when you decide to move beyond just having made yourself a job? Join us today as Lisa gives us the tips you need to know on how to build an asset for yourself to be able to sell.
My Guest: Lisa-Kipps Brown
With 25 years of internet business experience, Lisa can help you use the web in the most profitable way possible, covering way more than marketing, technology & design. Lisa started her web & marketing strategy business in ‘96. At the same time as raising 2 kids & caring for her father-in-law with Alzheimer’s (7+ yrs). She was later the caregiver for her mother with Alzheimer’s (4yrs). Lisa is a big believer in building a business that can be adapted to fit one’s life stages. Lisa has almost 15 years experience in rural Economic Development.
Pivotal moments
· Lisa wrote a book just after her mum had passed away from Alzheimer’s. She was her care giver. The advice in it is really for anyone, but Lisa was targeting people age 50 + because they are at a stage in their life where they need to be thinking about selling their business. However many people don’t even have what to sell.
· People build businesses that don’t have saleable value. But there is a point where you can own your business as an asset. So you can sell it on.
· You have to remember no one wants to buy a job.
· We have to think about what our assets are that we can be building up that aren’t physical. It has to be something that has value to other people.
· Lisa has a degree in accounting, but she hated it. She had a side consulting firm too.
· Then Lisa dropped everything and started with her web and marketing strategy business in 1996.
· Nowadays no one really needs web design they really need the strategy and to understand how to make everything work together. So now Lisa focuses on consulting on helping people get their business ready to sell.
· What is a web strategy?
· You have to look at the web as part of your business.
· Lisa says everything is based around your strengths and weaknesses and goals and dreams.
· When wondering what app to use it doesn’t make a difference because it is a tool. You pick the tool that works best for you.
Advice
For something to become a scalable profit, you need to remove yourself from it completely. There is no way you can take the salary that you have created for yourself and sell it. Now based on everything you have learnt, you can create something different that can become a product.
The highest value you can create is to think of your business as a turnkey business. As if someone walks up to you, hands you the cash and you can hand them the keys and leave.
Quote
The most important questions are the ones you don’t even know need asking.
Resources & Links:
Below is a code for listeners to get a free e-book copy of Lisa's book "Boomer Cashout: Increase Your Business's Value & Marketability to Sell For Retirement":
- Free e-book "Boomer Cashout: Increase Your Business's Value & Marketability to Sell For Retirement" Code: ESTIE
- www.lisakippsbrown.com
- Social media: @Lisakippsbrown
- Show: www.estierand.com/breakthrough
Part 2 of this episode where you hear more go to estierand.com/115-2
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