22 Aug Built to Sell Radio: Should You Hire a COO?
Casey Cavell has plenty of party stories: he dropped out of college to become a professional poker player, tried his hand (successfully) at buying self-storage facilities and apartment complexes, and eventually found his way to the business of baseball. More specifically, a franchised baseball academy for 5-10 year olds that he grew to five locations.
Cavell essentially managed two exits from his D-BAT Academy franchises, first selling 66% of the business at a value of $1.5 million and then unloading his remaining equity at a $10 million valuation. On Built to Sell Radio this week, Cavell walks us through the lessons he learned from his successes and failures that led to his eventual exit, including:
- The benefits of franchising and purchasing established facilities
- How to weigh the risks of signing a personal guarantee on a lease
- Identifying and conquering self-limiting beliefs
- How (and why) to hire a COO
- Cavell’s counterintuitive strategy to find and keep top talent
- How to avoid burnout from wearing too many hats
- Finding a balance between Visionaries and Operators
- A recommended psychometric assessment to help you build a winning team
- Redefining your identity post-exit