About this episode
When Tommy Berretz had his successful swimming pool company valued, he had just one (big) problem: he didn’t like what he found out.
Tommy Berretz co-founded Texas Aquatic Enterprise (TAE) in 2005 to maintain commercial swimming pools for condominium groups, apartment buildings and schools.
The business grew to more than 200 employees on the back of Berretz’s sales skills. That’s when he hired an accountant to value TAE. Berretz waited patiently as the accountant ran the numbers but was ultimately disappointed by the result.
The account had chosen to value Berretz’s business based on his assets alone reasoning that without Berretz himself, TAE was worthless.
At first he was disappointed and a little angry. Then Berretz set about re-modelling TAE to be less dependent on him which ultimately culminated in a seven-figure exit. In this episode you’ll learn:
- The secret to hiring sales people for replacing you as a rain maker
- The number one hire Berretz made (it may not be who you think)
- Why you should never sign a “standard agreement”
- Why Berretz ultimately sold to his second highest bidder
Have you been disappointed by the salespeople you’ve hired? The problem may not be the people, it may be your product or service. In Berretz’s case, he was relying on his charisma and price to win competitive bids. He knew he couldn’t win by competing on price so when he hired sales people, he developed a unique point of differentiation that set TAE apart from his competitors and sales people could use to set the company apart. How about you? Do you have something that gives you a point of difference and what Warren Buffett calls “Monopoly Control”? If not, enroll in the 12-step process known as The Value Builder System™ and we’ll help you figure it out. Get started right now by completing module 1 for free.
About Our Guest
Tommy Berretz is a serial entrepreneur, comedian, actor, and producer. He started his entrepreneurial journey in 2005 when he started a business with his roommate in their apartment. At the time, Tommy was working as a bar back at a local bar washing dishes, cleaning bathrooms, and mopping up puke. At night Tommy would work at the bar and during the day he would work on his business. Tommy grew that business into a multi-million-dollar company with over two hundred employees. He sold the business in 2017 for over seven figures.