How to Turn Your Business Into a Wealth-Building Asset with Erin Austin
Episode #217. As experts, we don’t typically think about selling our business, especially if it's a personal brand! However, the same foundation that goes into creating a business that is saleable goes into creating one that is SCALABLE.
In this episode, Erin Austin breaks down for us how to shift our business from an income-generating hustle to a wealth-building asset.
In This Episode You’ll Learn:
- What are intellectual assets?
- Defining Saleable vs. sellable
- How to uncover your “Rembrandt in the attic”
- What needs to be in place to have a certification program.
- How to button up your intellectual property rights.
- How to establish a strong business foundation (both internally and externally)
Favorite Quotes
“Add leverage to your business so that you can either increase profits through a more efficient use of time or more efficient delivery of services.”
“Contracts do not have to be complicated. I don't want anyone to think this is the point of friction because it's going to be this big, complicated thing that's going to scare people. They can be written in plain English and standardized so that you can use them again and again.”
More About Erin:
A graduate of Harvard Law School, Erin Austin is a consultant and lawyer who uses her 25+ years of practicing law, including roles as COO and general counsel at large and small IP-driven companies, including Warner Brothers, Lionsgate (formerly known as Artisan), MGM, Teaching Strategies, and M3 USA Corp, to help female founders of expertise-based firms build and protect saleable assets so that the business is ready to sell when the founder is ready to exit. Erin’s experience as a lawyer and as an executive--at the intersection of business and the law--informs the elevated legal and strategic business advice she provides to her clients. Erin is passionate about using her expertise to create an economy that works for everyone.
Through her Hourly to Exit podcast and her consulting practice, Think Beyond IP, Erin guides women on the journey of transforming their business from an unscalable expert-focused income-generator to a saleable wealth-building asset. In her spare time, Erin likes to clear brush on her farmette, search for the perfect gluten-free baguette (all leads are appreciated!) and work on her backhand.
Find Erin:
