Ayo Phillips - Turnaround to Exit - Ep.151

My guest on this episode is Ayo Phillips. You’ll remember Ayo’s episode last March, episode 56 titled “Small Company Firefighting”, where Ayo walked us through all the different challenges he was facing in his apartment turnover services business, Perfect Surface. Since then he sold the business a couple of months ago and I wanted to hear all about the progress he made in the business to professionalize and prepare it for sale.Ayo and I talk about building from a turnaround position, coaching replacements and developing a management team, the process of selling your business, and his reflections on industry selection.Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. Links:Ayo Phillips - Small Company Firefighting - Ep.56The J CurveOn Revenue Quality with Bradley Roofner and Logan Brown - Ep.145Topics:(3:50) - What’s the high-level overview of taking over this company and how you rebuilt the business in order to make the acquisition possible?(23:16)- What revenue streams did the acquirer value most?(24:47) - Is there some value is approaching potential acquirers to see what would make your company more attractive?(28:03) - How much more helpful was it that you had a replacement ready to take over your role?(29:10) - How has your thinking changed around working in a business or industry that you aren’t passionate about?(31:27) - What factors into your thinking now when you evaluate an industry?