the CEO Hour, February 7th 2014.
Derek Sivers - Founder of CD Baby, Wood Egg Books, Muckwork
Author of "Anything You Want"
TEDx Speaker
Ten years after Derek Sivers founded CD Baby, where independent artists sell their music online, Sivers started to lose the vision for his still young company. He says Seth Godin told him, "remaining at the helm when you are no longer involved in the company's future, is doing a disservice to the business, your people and yourself." So Sivers sold the company for $22 million dollars...money that went into a charitable trust for music education. Sivers said he made millions on his CD Baby before the sale and is now using that money to fund his new company, Wood Egg, a series of how to do business books in Asian countries from Singapore to China. Sivers who lived in Singapore says the secret to being successful in Asian business is to put in the time needed to create trusted friend relationships with potential clients. This transaction takes time and energy, His other tips for success, trust but verify and be aware of the difference between delegating and abdicating. Profitable business owners know what is going on in all departments.
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