PP 534: Starting And Selling Businesses with Steven Little
“Find a way to put in practice the things that fuel your most creative energy.”
Steven Little is the Founder and Managing Partner for Zero Limits Ventures. He started his entrepreneurial journey at the age of 13. When he turned 15, he sold his first company for more than 6 figures. Listen to Steven as he takes Kim on his amazing adventures as an entrepreneur and shares his learnings about starting and selling his businesses.
1:20 The start of Steven’s journey in business
10:51 Steven’s first important lesson about the value of business
17:05 How do entrepreneurs drive value for their business?
28:43 Treating your business as an income source and not as an asset
41:16 Mission orientation as a significant value driver
Steve’s Gift- https://www.zerolimitsventures.com/access/
10:10 “that business had a very specific value driver, it wasn’t me, it wasn’t the equipment, it was the contract. The fact that I had that book of contracts is what made that business interesting to all those buyers”
10:51 “Understanding what drives the value of a business is a critically important thing… and I used that basic principle over and over again throughout my career”
12:22 “Every prospective buyer is going to value your business differently”
28:34 “It’s not always the things on the surface that matters, it’s really understanding the market for what you are building”
31:38 “building a business is the biggest asset a person will ever have”
40:42 “in any transaction…the higher the perceived risk of ownership the lower the price the buyers are willing to pay, the lower the risk of perceived ownership the higher the buyer is willing to pay”
41:31 “a company which is centered on a mission….you can have a wildly profitable company delivering on a mission”