02 Aug Built to Sell Radio: The $4 Million Haircut
In 1994, Robert Hartline started selling phones in the back of his car. By 2019, he had built Absolute Wireless into a chain of 56 wireless stores and 350 employees.
Hartline was able to systematize his business while he grew by creating employee onboarding videos and delegating key processes (download your copy of The Definitive Guide to Standard Operating Procedures).
The business was a success and Hartline was riding high up until early 2020. The pandemic hit, and two of his wireless carriers merged, leaving Hartline’s business spinning out of control.
In this episode, you’ll discover:
- Why Hartline’s acquirer dropped their offer by $4 million.
- How to motivate your sales team.
- How supplier dependence undermines the value of your business.
- Why selling your shares is often preferable to selling your assets.
- The one thing Hartline would do differently if he could rewind 2020 (his answer may surprise you).
- “75 Hard” and how Hartline is using it to toughen his resolve.