Build a business you can sell: MAKE THE MOST MONEY NOW AND WHEN YOU SELL

By Lana Coronado and Scotty Schindler

Two voices, one message. If you want to sell your business, plan ahead to get it right. In their book Build a Business You Can Sell, Lana Coronado and Scotty Schindler distill the business selling opportunity to a straightforward message of readiness: what that means and how to get there. With illustrative stories and a bit of humor, this power-house team shares decades of expertise, walking you through specific strategies to implement now that will add value to your business. Selling a business can be a one-time event, and this book outlines exactly how to get top dollar when the right buyer arrives.
- Jena Bailey, Business Investor and Fractional CFO, TruehouseGroup.com

• Language: English
• Publisher: Lulu.com
• Release date: Aug 30, 2021
• ISBN: 9781304803542

Book preview

Meet Lana & Scotty

Lana Coronado

Lana Coronado began her professional career in 1986 by teaching computer and business courses in New York City. Voted The Best Teacher Ever by her alumni, she enjoyed sharing her knowledge and experience with students while helping them prepare for the real world challenges.

While teaching, Lana continued to study computer hardware, software and programming languages. In 1988 she joined New York City's Department of Finance as Computer Associate, where she was later promoted to Acting Associate Director. Well-versed in Computer Technologies, Lana played an important role in implementing Wide Area Network for the IT Department nationwide. Her outstanding performance and dedication was noted by the Department of Finance Commissioner.

Striving to learn more, Lana moved on to Wall Street where companies like Credit Swiss and Merrill Lynch have benefited from her technical expertise. In charge of the technical support to trading floors worldwide, she enjoyed the fast-paced, high-pressure corporate environment, capable of offering the latest technology and a world of resources to those who wish to learn.

In 1995, Lana was asked to join the Cable News Network (CNN) to help launch CNNfn - the new financial network. Excited to be part of the team building the largest (at the time) digital television studio in the world, she welcomed the opportunity with open arms. While at CNN, Lana learned a lot about video and TV, as well as the Internet technologies. She implemented first-ever live broadcasts from brokerage houses in New York and Boston over digital lines, which enabled the network’s newsroom to get instant analyst reviews from Wall Street. Fascinated with Internet and video streaming technology, Ms. Coronado vowed CNNfn to be the first television network to stream live content over the web.

Moving on to join the world of entrepreneurship, Lana had the opportunity to develop several commercial web sites, work with celebrities, run national and international live video streaming shows, teach and produce her own video and Internet content.

Lana retired from IT at the age of forty-two to become a philanthropist, investor, and advisor taking small and mid-sized businesses to their next level even if they faced adversity in the past. Lana is fluent in four languages and holds a Master's Degree in Electrical Engineering, as well as a Teacher's License from New York State. True to her natural ability to teach, she is always looking for ways to share her knowledge and experience.

Lana’s back story as a business investor

Some time ago I bought shares of a brand new but promising company. They were just starting and the stock was still considered a penny stock. I bought in at twelve cents a share and obviously I could afford quite a few at that price. About a year later, I noticed it went up to $1.25 so I sold it. The stock kept going up. At one point it got to $7.45 and I felt like I made a mistake, like I should have held onto it. But then it went back down to about $0.25 and that made me feel good. Yes, I could have made a lot more money if I waited, but I also could have missed out if it didn’t go past a dollar twenty five.

In the end, I ended up with what you call a ten-bagger which is Wall Street jargon for a stock that multiplied your investment by ten. So the moral of this story is, I made a nice profit because I didn’t get greedy - the timing was pretty good on that.

To be clear, my timing is not ALWAYS that good.

I have another story with less of a happy ending :)

That took place in the nineties. The Internet was in its infancy and credit card processing was still a huge task to implement. So I had this great idea of creating an online store that would enable small business owners to sell their products in one virtual mall. I would take a percentage of every sale in exchange for processing credit cards and also giving them inventory, tracking, and reporting tools. It was a great idea and I found an investor ready to put down two million dollars to get it going. Of course the investor wanted to have a say in the company and I thought the idea was just too good to give up control, so I decided to decline the offer. Turns out, I did not have the means to promote it and build it fast enough to take the lead. Soon other stores came online and giantstores.com went out of business. That was an expensive lesson I’ve learned.

And the lesson is: the best time to sell your business is when somebody is ready to buy it. Yes, your company may be worth a lot more later, but if there is no buyer – there is no sale.

Scotty Schindler

Scotty Schindler is a business and sports leader proudly from Sawtell, New South Wales, Australia. Now the retired startup founder and CEO of ReNet, he is recognised as a leading Aussie business identity and keen surfer who has won multiple surfing titles. An overview of Scott’s life shows an enviable ability to achieve success in anything he pursues.

At its core, Scotty’s career is a story of creativity, hard work and a love of Australian life. As CEO of ReNet, Scott has presided over the growth of a startup business that began in 2000 with just one single property listing advertised. On Scott’s retirement in 2017, ReNet managed over $1.125 trillion dollars ($1,125,771,059,045) in real estate across Australia and New Zealand by 5,000 real estate offices and some 15,000 real estate salespeople.

In addition to his role as CEO, Scott is also a highly sought-after public speaker, trainer and thought leader within Australia and around the world. A business mentor and sales trainer that can back up advice with proven results in his own life, Scott credits his ‘quintessentially Australian’ identity as a born optimist and clear-cut straight talker as key to his success in this arena.

Before this present chapter of his life, Scott acquired his business and sales trade during 10 years in the insurance industry in the ’90s. Other organisations Scotty is actively involved in are the Sawtell Boardriders, Sawtell Business Chamber, Surfing NSW and Fire + Rescue New South Wales. The roles vary but Scotty’s devotion to community is a constant and so too is an unending love of business and surfing that has carved out many, many adventures.

Alongside having represented and won for Australia at the world surfing titles, Scotty also holds multiple surfing championships at all levels of amateur surfing. With an enduring belief that success in business and sport require dedication to the same qualities, Scotty is also very proud of his work as a coach and trainer of WQS surfers and Aussie surfers in junior development.

When away from his work or sporting commitments, Scotty spends time with his family, friends and is a proud supporter and sponsor of local sporting groups such as Sawtell Surf Life Saving and Sawtell Scorpions FC.

Scotty’s back story as a business seller

I started my company ReNet in 2000 and when I sold it, I was motivated by a desire to expand. I could take a bird in the hand and then take some risks with unlimited potential to grow the current client base and expand internationally.

I didn’t have a goal to exit ReNet, nor exit from the online real estate industry, however I really did want to de-risk and take advantage of someone with greater resources.

I was happy to look at ReNet and what I could do with an aggressive approach; how, if money was not a problem, we could take on the world.

That also meant that I wanted a 100% sale. I did not want not to have an investor come in and take an interest. I would have liked the backing of a major player that I could join and then go on a journey of discovery both domestically and internationally. In principle, that was how the sale in 2015 started. Unfortunately, it didn’t work out in the long run, so I am glad I took the opportunity when it presented itself..

On a side note, I did try to buy the company back two years later. The owners had decided to pivot as they had a large exposure to the traditional print industry. They wanted to de-risk themselves. I was offering less than they paid as I saw the opportunity, but another group of investors came along and purchased ReNet in October 2017. That was where the story of ReNet ended for me. I stayed committed through January 2018, but my dreams and desires for ReNet were taken from me.

Do I regret selling ReNet? No. I still have the bird in the hand and experience you can’t buy.

Everyone's motivations are different, and knowing your why and whento sell are critical to defining your successful outcome.

The right time to sell your business is when you can get