Nick welcomes back Adam Coffey, a renowned expert in scaling, growing value, and exiting companies, to share his insights from his latest book, "Empire Builder: The Road to a Billion," where he discusses the challenges faced by entrepreneurs and offers strategies for success.

Adam discusses the importance of understanding unit-level economics, focusing on needs-based businesses with recurring revenue streams, and diversifying assets through strategic partnerships and exits. Adam also delves into the mindset shift required to scale from a control-focused founder to a visionary leader. 

KEY TAKEAWAYS

• Understanding unit-level economics is crucial for building a successful business. Entrepreneurs need to focus on profitability and ensure that their business model is sustainable.
• Recognise the need to let go of control and empower others as the business scales. Transition from being a micromanager to a conductor of the orchestra, managing processes instead of minutiae.
• Consider selling the business at a certain size to diversify assets and protect against risks. Selling to a private equity firm can provide financial security and accelerate wealth creation.
• Private equity is a growing investment class and will continue to play a significant role in the market. Entrepreneurs should understand the private equity landscape and leverage their capital and expertise.
• The ultimate goal is not necessarily to build a billion-dollar empire, but to achieve financial security and success at different milestones, such as reaching $30 million or $100 million in revenue.

BEST MOMENTS

"I want to change those odds. I want you to be one of the seven percent that get to a million, one of the four percent that get to 10 million, and then let's scale on up to 100 million." 

"I think too often times entrepreneurs just don't know where they're going." 

"I want you to get asset diversification to protect your family against an unknown risk." 

"Real estate makes millionaires, business makes billionaires." 

"The reason we're getting high prices is because that asset class exists." 

VALUABLE RESOURCES

Find out now if you’re building a high-value, exitable business (even if you have no immediate plans to sell it). You’ll get an instant PDF report with powerful insights specifically tailored to your business in just 4 minutes.

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Adam Coffey - https://adamecoffey.com/

Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.

His background is growing and scaling Venture Capital and Private Equity backed businesses globally. Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.

His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.

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