Selling Your Personal Brand: A 7-Figure Exit Plan

Building a 7-figure business with your name shining bright as the brand is a wild ride, right? Late-night decisions, chasing opportunities, and now you're standing on top of the mountain wondering, "Can I even sell this business that’s so intertwined with my personal identity?"

I've been there, wondering if I've locked myself in a golden cage. But trust me, you haven’t hit a dead end.

The Real Deal About Personal Brands and Business Value

Can you sell a personal-branded business? Absolutely! But it's going to take some smooth moves and smart planning. Think about icons like Oprah; her brand could keep going even without her. The value is in the legacy, the products, the systems, and the people.

Personal Brand vs. Company Brand: Making the Leap

Having built, scaled, and shifted my own personal-branded business, I’ve experienced the magic and challenges and shared about this journey on the Grow to CEO podcast. Transitioning from a personal to a company brand might seem like a daunting task, but it's about trusting the process. It has been your name, face, and vibe that gave your business its initial push, but now, it's about creating a legacy bigger than you.

Legacy Beyond Your Name

What's in a name? Everything and nothing. There are successful case studies out there showing how personal brands transition into something even larger after the founder steps away. It's not about discarding what you've built, but expanding it.

Performance-coach Michael Hyatt first transitioned into Michael Hyatt & Company, followed by a successful rebrand to Full Focus. He decided that removing his name was the best long-term choice for the company.

“The company has grown beyond my name” says Michael Hyatt in the article explaining this strategic branding move.

Your Strategy To Move Forward

1. Trust in Systems, Not Just Faces: Start by automating and systemizing your business processes, so that the brand can function without you.

2. Introduce New Faces: Gradually introduce other experts or personalities into your brand to diversify its image. Sue Bryce, who turned her expertise into an 8-figure exit, shares how she navigated this successfully in this episode of the Built To Sell podcast.

3. Productize Your Offerings: This is the gold! Your offerings, courses, tools, whatever they may be - make them the stars too.

4. Seek Feedback: Sometimes, someone outside the frame can see the full picture better. It was invaluable for me and can be for you too.

Building a Team That Gets Your Vision

A big step is building a team that understands your brand but brings their own thing to the table. This team will be crucial in maintaining the brand's quality and integrity while adding fresh energy and ideas. They become the new face of your business legacy.

Growing Your Community Beyond You

A thriving community is often the heart of any personal-branded business. It's important to grow a community that connects with your brand's core values and vision, and not just with you as a person. This creates a loyal customer base that sticks around even when you are not, ensuring stability and future growth.

Building a Business That Doesn't Need Babysitting

As a freedompreneur, the goal is to build a business that can run and grow without you. This involves creating systems that can be replicated, reliable revenue streams, and scalable processes. It's about building a business that stands on its own two feet, with your brand as its foundation but not its only pillar.

Think and Do: Your Next Move in Selling Your Personal-Branded Business

As we wrap up, take a moment to think about your journey and get ready to take action to turn your personal brand into a sellable asset:

• Think About Legacy After You: Consider how your business can keep going without you. What systems, community elements, and legacies can stand on their own?

• Start the Brand Shift: Figure out how you can start moving from a personal brand to a company brand. What can you do right now to start this shift?

• Question Your Role: Think about where the business really depends on you. How can you start to systemize these areas and delegate tasks?

• Start Sharing the Spotlight: Find potential leaders in your team who can start taking some of the attention. Plan to introduce them to your audience slowly.

• Consider Your Offerings: Look at your current products or services. How can they be changed to remain valuable without you?

• Get a Fresh Look: Think about reaching out to consultants or mentors who can give you a new perspective on making your business more attractive to potential buyers.

By reflecting on these areas and then taking decisive action, you'll be well on your way to turning your personal brand into a strong, independent entity, ready for a successful sale.