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How This Service Business Got Almost 20 X EBITDA

May 20, 2022 |  

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Advertising

How to Turn Beta Users into Customers Plus 3 Other Stories

This week, we’re featuring four recent guests and highlighting transferrable lessons they shared about exiting their company.

 

4 Big Takeaways on Building the Value of Your Company

This week, we’re back with the latest Intel edition of Built to Sell Radio. We feature four recent guests and dissect what made their companies built to sell.

The Biggest Mistake Co-Founders Make, and 3 Other Lessons

With Built to Sell Radio, you’ve grown accustomed to hearing entrepreneur exit stories from A to Z, but this week’s episode is a little different. We tease out four transferrable lessons from the latest batch of guests.

Turning the Tables on John

By now, you’re accustomed to hearing John Warrillow ask the tough questions.

Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.

Built to Sell Intel - July 2021

On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.

John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.

10 X Earnings By Future Proofing Your Buyer

David Trewern grew DT to $10 million in annual revenue before he sold it to STW Group for almost 10 times profit after tax, getting maximum value for his business because he started to look at the world through the eyes of his would-be acquirer.

The Surprising Truth About Who Will Buy Your Company

In 1999, Andrew Weinreich sold Six Degrees for $125 million. In the following years, he went on to sell three other companies including one to IBM and another to Match.com. In this episode you will learn his secrets to exiting big.

Raising Money Vs. Going It Alone

Katherine Hague co-founder of ShopLocket was a prodigious fundraiser in the two years from idea to exit. Hague describes some of the landmines to avoid when raising outside capital and why she still has one regret about the sale to PCH.

Multiple of What?

Dennis Hart sold his advertising agency for 7.1X. That sounds like a great exit but it disguises the complexity of the negotiations. Hart felt like he knew precisely how much EBITDA he generated until the buyer started questioning his math.

The 4X Email

Back in 2011, Nathan Latka started Heyo, a social media company that helped businesses advertise on Facebook. By 2016, Heyo had raised $2.5 million in seed and venture capital financing and, by all accounts, it was a successful business.

Identity Theft

Yvonne Tocquigny built her advertising agency up over 35 years working with clients like Jeep and Dell. Then in 2015, she got a call asking if she would consider selling. The problem was that her agency had become part of who she was.

Earn Out, Flame Out

The hidden dangers of agreeing to an earn out when selling your business.

Construction

How to Build Your Company to Sell (Even if You Have No Plans To)

Kevin Waldron built Olympic Restoration, a disaster recovery business, to $24 million in annual sales before he decided to sell. Helping homeowners clean up from a fire or a flood was a good business, but after 17 years, Waldron was tired of fighting with insurance companies over claims.

Getting Acquired Doesn't Have to Be a Blood Sport

Our show is all about maximizing your take from the sale of your business. We’re about helping the seller outmaneuver the buyer to maximize the seller’s take from an exit. We think it’s a noble cause, but every once in a while, a guest reminds us that selling a business doesn’t have to be so confrontational.

How A Patent Sways The Value Of Your Business

O’Neil-Dunne was able to patent his technology and create a competitive advantage by learning the “patois” of his industry. Here’s how.

Lessons from Home Depot’s Acquisition of a $100 Million Juggernaut Blinds.com

Jay Steinfeld started selling blinds online in 1993. The e-commerce pioneer went on to build Blinds.com into a $100 million category killer before Home Depot decided enough was enough and made Steinfeld an offer he couldn’t refuse.

The Hairy Deal

Finding a buyer for Killer Shade was relatively easy. Closing the deal — and getting paid — was a whole lot harder.

E-Commerce

How to Turn Beta Users into Customers Plus 3 Other Stories

This week, we’re featuring four recent guests and highlighting transferrable lessons they shared about exiting their company.

 

Maker vs. Manager

In 2019, Ben Tossell was a frustrated entrepreneur, launching products nobody bought. His contacts showed little interest in his concepts but were curious about how he built his online offerings – especially because Tossell admitted he didn’t know how to code.

The 8-figure Expert

Imagine turning your expertise into an 8-figure exit. That’s exactly what Sue Bryce did. Bryce built a $1 million photography studio in an industry where owners are often limited to low six-figure businesses that are dependent on them.

4 Big Takeaways on Building the Value of Your Company

This week, we’re back with the latest Intel edition of Built to Sell Radio. We feature four recent guests and dissect what made their companies built to sell.

How to Know When Your Idea Has Legs

Melissa Kwan and her co-founder built Spacio, a company that helped real estate agents win and manage leads that come from hosting open houses.

Kwan built the company to roughly 100,000 agents using Spacio when a chance encounter at an industry conference led to an acquisition offer from HomeSpotter.

What You Should Know Before You Pitch Your Company on Shark Tank (or Anywhere)

In 2013, Kate Field started The Kombucha Shop offering home-brew kits that people can use to make kombucha.

By 2018, the kombucha craze was in full swing and Field was invited to pitch her business on Shark Tank. Field asked for $350,000 in return for 10% of her company which was generating around $1.2 million per year selling kombucha kits. Field got an offer for $200,000 in cash and another $150,000 line of credit in return for 10% of her company from Barbara Corcoran and Sara Blakely, the Spanx founder who was a guest Shark that day.

Despite her success on television, a series of surprising events led Field to walk away from the Shark’s offer and sell The Kombucha Shop the following year. This episode is a raw account of the highs and lows of the entrepreneurial journey.

How to Create a Bidding War Plus Three Other Lessons

This week’s episode of Built to Sell Radio is the Intel edition. We focus on four recent guests and highlight the strategies that made their companies built to sell.

The $26 Million Dollar Man

Josh Delaney started FAB CBD, a CBD e-tailer, in 2017. Delaney’s Mom was his first customer, but his sales quickly went beyond family members. By 2020, through a combination of savvy marketing and good fortune, FAB CBD had risen to more than $10 million in annual sales. In early 2021, Delaney caught the attention of High Tide, a Calgary-based cannabis company that offered him $13 million in cash plus $8 million High Tide shares in return for 80% of FAB CBD (an implied valuation of $25.8 million).

Getting Around Your Non-compete

Nick Leighton started a marketing agency called NettResults with the idea of helping technology companies access consumers in the Middle East. Based in Dubai, Leighton built NettResults to around $2 million in revenue when he decided to sell.

Leighton attracted a number of offers including one from a much larger agency that wanted an office in the Middle East.

Once Bitten, Twice Shy: The (Real) Reason Jay Gould Sold Yashi for $33M

Jay Gould co-founded Yashi, a platform that helped advertisers buy ads on video content. Yashi grew to more than $25 million in revenue and more than $5 million in EBITDA when Gould received an offer of $33 million from Nexstar Broadcasting. The offer represented around 6 x EBITDA and Gould was conflicted. He knew he could probably get more, but he had also seen how quickly a successful company can go to zero.

The Inside Story of Petco’s Acquisition of Shark Tank-Featured PupBox

Like many young couples, Ben & Ariel Zvaifler got a puppy and found themselves trying to figure out how to train it. They wondered what toys were safe and what kind of food to give to their brand-new puppy.

The couple figured they weren’t alone and decided to launch PupBox, a subscription box for new puppy owners that offered owners training guides, treats, and toys for puppies appropriate for their age and stage of development.

Built to Sell Intel - July 2021

On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.

John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.

The Humble Yogi Sells His Business

Along with three friends, Sebastian Johnston co-founded TheAmazeApp in 2014. The idea was based on a simple idea. Social media influencers could upload a picture of what they were wearing and tag the clothing on TheAmazeApp’s database of e-commerce retailers. Then, when one of their followers purchased the item, TheAmazeApp would receive a commission they shared with the influencer.

How a Simple Strategy Led to a 35% Higher Valuation for Conversio

In 2014, Adii Pienaar started an email marketing platform for retailers, which became Conversio. By 2019, Pienaar had $2 million in revenue and 14 employees.

Cracking the Amazon e-Commerce Code

Sophie Howard built and sold a 7 figure Amazon e-Commerce business in less than two years. Here’s how she did it.

How Much Are Your Employees Worth To An Acquirer?

Impact LABS had no hard assets and little intellectual property, so why would ContextLabs want to acquire them for millions?

From Food Stamps To A Seven-figure Exit

While Michael Pedone survived off of food stamps as a kid, he dreamed of living a lifestyle where money wasn’t scarce. Fast-forward a few decades, and Pedone sold his first company for $1.2MM.

How To Get Acquired By Facebook (Twice)

The market for digital assistants is booming. Apple has Siri, Amazon has Alexa and Google has Google Assistant. Now, thanks to Charles Jolley, Facebook has Ozlo, a digital assistant designed to outsmart Siri and Alexa at their own game.

5 (Sobering) Lessons from the Sales of Hammocks.com

David Fairley estimates he has sold more than 20 online properties but admits it was the sale of Hammocks.com—one of his first exits—that taught him the most.

The Man Behind the $1.3B Sale of Wind Mobile

Anthony Lacavera has started 12 businesses, six of which he has exited. His exits have ranged in value from the $6 million he got for one of his recent start-ups to the $1.3 billion that Wind Mobile sold for.

Bitcoin – The Investor vs. The Acquirer

Back in 2013, Dave Ripley became fascinated with Bitcoin. The cryptocurrency market was gaining notoriety and Ripley and a friend decided to start Glidera, a company focused on creating tools to help developers integrate cryptocurrency.

How to Get Negotiating Leverage When You’re Desperate

Chris Muench started C-Labs in 2008 to go after the burgeoning opportunities presented by the Internet-of-Things (IOT).

Lessons from Home Depot’s Acquisition of a $100 Million Juggernaut Blinds.com

Jay Steinfeld started selling blinds online in 1993. The e-commerce pioneer went on to build Blinds.com into a $100 million category killer before Home Depot decided enough was enough and made Steinfeld an offer he couldn’t refuse.

The Acquisition of the Company Behind Chicago Bulls Sunglasses

If you own Chicago Bulls sunglasses—or sunglasses from just about any other NBA team—you owe your eyewear to Jason Bolt.

The Philosophy of Building to Sell

Dan Faggella started Science of Skill, an e-commerce website selling self-defense videos and paraphernalia, in 2013. His goal was to sell the business as soon as possible, and he started soliciting offers just 14 months later.

From Nothing to $25 Million in 12 Months

SnapSaves was created by Buytopia, which has a deal-of-the-day business model similar to Groupon. Started by Michele Romanow and her partners in Buytopia, the idea was to let shoppers snap a picture of their grocery receipt using the app.

From Start-Up To Exit In Three Years

Peter Shankman started Help A Reporter Out (HARO) to connect experts with journalists. Within three years, Shankman was generating $1.5MM from selling ads on his email blasts. That’s when hi largest advertiser approached him to buy HARO.

A Brand That’s Built to Sell

Julie Cole and her partners built Mabel’s Labels into a $10 million business before acquisition in early 2016. Cole and her partners were able to add hundreds of thousands of dollars to their sell price using this negotiation technique.

Part of what made Mabel’s Labels attractive to Avery was the brand Cole and her partners had created. To see how your brand will impact the value of your business, get your Value Builder Score and turn to the section in the report titled “Monopoly Control”.

The Strategic

A strategic acquisition is a different animal. The strategic acquirer will place a value based on how much more of their product they can sell, which is exactly what Business Objects did when they bought Next Action Technologies, for 8X revenue.

The Atheist Bible Salesman Who Sold His Company for 5X Revenue

Trevor McKendrick had created the best-selling Spanish-language Bible app when he was approached about an acquisition. The offer was 3.5x revenue but Trevor got them to 5x with a combination of chutzpah and a knack for reading the fine print.

Cut Your Earnout

In this episode, Stephan Spencer details three strategies he pursued to withdraw from his business’s day-to-day operations. By 2010, he was able to take a six-month sabbatical which ultimately lead to a sale in 2010 with only a six-month earnout.

To Sell or Not to Sell?

Would you rather have one million dollars in the bank today or a chance to have ten million a decade from now? It’s a philosophical question that comes down to the time value of money and your tolerance for risk.

The One Question You Never Answer

In this episode of Built to Sell Radio you’re going to hear from Erik Huberman, who started Swag-of-the-month, a T-shirt business he quickly scaled from start-up to sale in 18 months.

Huberman considers the exit a success, but during negotiations there was one question the acquirer asked that Huberman wishes he had never answered.

The Outsider

Derek Sivers sold CD Baby for $22 million dollars and decided to do something interesting with the money.

Finance and Insurance

One Strategy Took Them From 12.5 to 16 times EBITDA

Arleen & Ted Taveras had been growing their insurance consultancy for twenty years when they received an unsolicited acquisition offer for 12.5 times EBITDA.

It was a tempting offer from an industry stalwart, but Arleen & Ted wondered if they might be leaving money on the table.

Selling a Main-street Business

Jim McManaman started his accounting firm in a small town of 3,000, so when he decided to sell, he had to figure out how to do it without tipping off his employees.

How to Exit a Consulting Business

Sohail Khan built J.V. Global Consulting into a $3 million consulting business, offering training boot camps and consulting on how to set up joint venture partnerships. Khan was approached by one of his clients wanting to buy his business.

Why Did This $3MM Company Sell For 5X Revenue?

Brian Ferrilla started Resort Advantage in 2006 to help casinos adhere to new anti-money laundering laws. Criminals were laundering money through casinos and Ferrilla’s software helped casinos help spot the bad guys.

The Other Reason Owners Decide to Sell

n 2012, Randy Ambrosie was hired to run 3Macs, a Montreal-based wealth management firm with $4 billion in assets under management at the time.

Inside the Mind of a Private Equity Investor

Frank Cottle led an investor group to buy Hi-Mark Software for 10 times EBITDA. Cottle then sold a chunk for 15 times and ultimately sold his last tranche of equity for more than 16 times EBITDA to Lufthansa.

Are you stacking a few Benjamins?

, a personal finance podcast. Sehy’s journey was unusual: he started as a financial advisor, building a firm with $65MM in assets under management until he received a letter prompting him to sell.

The Fishing Trip

Food and Hospitality

What You Should Know Before You Pitch Your Company on Shark Tank (or Anywhere)

In 2013, Kate Field started The Kombucha Shop offering home-brew kits that people can use to make kombucha.

By 2018, the kombucha craze was in full swing and Field was invited to pitch her business on Shark Tank. Field asked for $350,000 in return for 10% of her company which was generating around $1.2 million per year selling kombucha kits. Field got an offer for $200,000 in cash and another $150,000 line of credit in return for 10% of her company from Barbara Corcoran and Sara Blakely, the Spanx founder who was a guest Shark that day.

Despite her success on television, a series of surprising events led Field to walk away from the Shark’s offer and sell The Kombucha Shop the following year. This episode is a raw account of the highs and lows of the entrepreneurial journey.

Salsa Maker Gets Contract With Whole Foods On Her Way To A Surprising Exit

Despite having distribution at Whole Foods, Kroger, and Safeway, salsa-maker Julie Nirvelli found herself on the brink of bankruptcy. She sent a last-ditch email to four potential acquirers – and you won’t believe what happened next.

Why VEEV Vodka Went for More Than 7 Times Revenue

 revenue.

How Cigar City Brewing Got Oskar Blues To Triple Their Acquisition Offer

Joey Redner started Cigar City Brewing in Tampa Bay in 2009 with a vision of being the first quality craft beer in Tampa at a time when craft beer was gaining popularity across the country.

Wisdom From The Sale Of Six Businesses

Laura Gisborne has sold six companies, including The Art of Wine, a tasting room with a subscription-based wine club division. With $1MM in annual revenue, it was still a small business, when Gisborne reasoned it was the perfect time to sell.

Who Would Buy Your Business?

Part of building to sell is knowing who might buy you, so you invest in valuable assets. Take Northern Lights as an example: after selling, their stores were closed because the acquirer wanted their wholesale distribution channel – not the stores.

The Ambush

How much would someone have to pay you to buy your business today? That’s the question Kris Jones was asked when billionaire Michael Rubin approached him about selling. Jones’ answer to Rubin’s question may surprise you.

Selling Your Company vs. Selling Your Product

Natalie Susi got her product Bare Organic Mixers, low-cal cocktail mixers into over 300 bars and restaurants in southern California before she sold. To maximize her take, Susi had to decide whether she was selling her company or her product.

Playing Chicken

Health Care and Social Assistance

How to Attract the Acquirer You Crave

Anthony Fracchia built Altruis Benefit Consulting to $2.5 million in revenue when he started to get unsolicited calls from potential buyers. He initiated conversations with an acquirer only to learn they planned to gut his staff and kill his brand.

How One Founder Moved Her Multiple From 2 to 8 Times EBITDA

Dr. Kristin Kahle helps businesses pick a benefits program for their employees.

She started three insurance agencies and the first two were service businesses that sold for a modest 1.5-2 times EBITDA.

With her third business, Kahle wanted to attract a higher multiple, so she decided to transform it into a technology company.

Why Policy Medical Got 7.2 x Revenue

Saud Juman built PolicyMedical, a company enabling hospitals to document their procedures and policies, into a software company growing 100% a year when he sold it for 7.2 times revenue. It was a remarkable exit for a business Juman started in his mother’s basement.

How to Get 10x EBITDA in an Industry That Trades at 5

In 2002, Lee Richter and her husband bought Montclair Veterinary Hospital in Northern California. Californians were embracing alternative medicine, and the Richter’s wondered if their affluent customers would invest in holistic therapies for their pets. They began offering acupuncture and chiropractic treatments for animals.

The Backstory Behind Dream Water's $34.5M Exit

David Lekach started Dream Water; a natural sleep aid bottled in a 5 oz shot similar to the famous 5-Hour Energy Drink.

Lekach built Dream Water up to almost $10 million in annual revenue before selling it to Harvest One, a cannabis company, for $34.5 million in cash and Harvest One stock.

How Jennifer Aniston And Reese Witherspoon Helped Viviscal Exit For 15x EBITDA

With celebrity endorsements like Jennifer Aniston and Reese Witherspoon, Viviscal hit €50 million in revenue…so, why would the CEO want to sell it?

How To Sell Your Family’s Business

Ross Organic was a family business, so when Stephanie Leshney took over from her father, she knew she had to make some changes if it was going to grow into a more valuable company.

How One Key Hire Helped Dimple Up Their Value By 500% in 2.5 Years

Teetering on the brink of liquidation, a key hire at Dimple led to a dramatic turnaround that resulted in a $13.4M exit.

From Paper Sketches To $441M Sale

Oribe sold in early 2018 for $441M, but in 2008 they were just a few sketches of shampoo bottles on a piece of paper. Tev Finger shares the surprising tactics they used to drive revenue.

Built to Flip: From Start Up To Sell Out In Just 2 Years

After a motorcycle accident shattered Jon Read’s collar bone into 6 pieces, he wasn’t able to follow-through on his post-surgical rehabilitation appointments because of his busy travel schedule. So, he created an app.

The Founder of the “Female Viagra” Sells Her Business for $1 Billion

Cindy Whitehead started Sprout Pharmaceuticals and created the drug ADDYI, which has become known as the “female Viagra”.

How Mainspring Went From a Valuation of 1 to 5 Times Revenue

In 2014, Hank Goddard got an offer of one times revenue to buy his software company, Mainspring Healthcare Solutions.

America’s Condom King Sells His Business

Adam Glickman started hawking “Jumbo Brand Condoms” from his dorm room in 1989 under the moniker “a safe jumbo is a happy jumbo.” His brand grew and upon graduation, he started America’s first retail condom shop in New York City.

The $15 Million Lesson

Is Your Business Worth Less Than You Think?

Bert Martinez started Accelerator, a supplements company. When Martinez started to worry that one of the supplements he sold, ephedra could be banned, he put his business on the market, only to realize it was worth a lot less than he thought.

How Shapeup Got Richard Branson To Boost His Acquisition Offer By 50%

What Do You Need From The Sale Of Your Business?

How a Non Compete Almost Derailed The Sale Of This $14M Business

How to Sell Your Sweat Equity

, John Warrillow interviews Phil Carson, the founder of a diabetes testing supply company. Carson wanted out of the business he and his partner had built from the ground up.

The $192 Million Exit

into a profitable business after year one. Ten years later he sold Merced for $192 million, equating to over 3 times top line revenue.

The Boomerang Sale

The first time David Phelps sold his dental practice, he ended up in a legal battle that cost him more than $100,000.

The Zexit

Rick Martinez is a military nurse who stumbled into the staffing business by accident and grew his company to 600 employees. Then, when he decided to sell his business, he took a surprisingly zen-like approach to negotiating the deal.

Law

The DIY Disaster

When selling a business there are too many things that can go wrong, too many egos with the potential to be bruised, and too many zeroes at stake to negotiate on your own behalf. It’s a lesson Alexis Neely learned the hard way in this DIY disaster.

Manufacturing

The Unexpected Exit

Sandy Hansen-Wolff was a newlywed when her husband of only a few months, Randy Hansen, was diagnosed with leukemia. The doctors told Randy that one in four patients in his position succumbed to the disease. The couple scrambled to deal with the diagnosis and what would happen to Randy’s feed business, which was generating revenue of around $1 million, if he were to pass.

Randy died a few months later, leaving Sandy with little more than a handwritten list of his assets, including a heavily leveraged business.

The Biggest Mistake Co-Founders Make, and 3 Other Lessons

With Built to Sell Radio, you’ve grown accustomed to hearing entrepreneur exit stories from A to Z, but this week’s episode is a little different. We tease out four transferrable lessons from the latest batch of guests.

Warren Buffett’s Advice On Creating A Valuable Business

Turning business down can be tough for an entrepreneur, but Mitch Durfee learned the hard way that saying ‘yes’ can lead to disaster.

How Indian Motorcycle & Chris-Craft Were Built to Sell

Stephen Heese buys fallen iconic brands and brings them back to life. Found out how he turns big personal risk into great rewards.

A Good Acquisition Offer Goes Horribly Wrong

Ross Hoek built Impres Engineering into a $2.5 million company and got a fair acquisition offer. Little did he know, it was too good to be true.

From $15 In His Pocket To A $3.2M Exit

Chemco Industries’ customers included Walmart, eBay, and Amazon, which is one reason they were so irresistible to an acquirer.

The Biggest Mistake Most Owners Make When Selling Their Company

Mike McCarron sold MSM Transportation to the Wheels Group for $18.6 million. After receiving the letter of intent (LOI) he signed it immediately. If McCarron had the opportunity to do it all again, he’d handle this request differently.

A Scar Deep Enough To Make You Want To Sell

Kevin Sullivan was riding high running one of Seattle’s largest printing companies when the 2008 recession hit.

Marketing

How to Turn Beta Users into Customers Plus 3 Other Stories

This week, we’re featuring four recent guests and highlighting transferrable lessons they shared about exiting their company.

 

Maker vs. Manager

In 2019, Ben Tossell was a frustrated entrepreneur, launching products nobody bought. His contacts showed little interest in his concepts but were curious about how he built his online offerings – especially because Tossell admitted he didn’t know how to code.

4 Big Takeaways on Building the Value of Your Company

This week, we’re back with the latest Intel edition of Built to Sell Radio. We feature four recent guests and dissect what made their companies built to sell.

How to Know When Your Idea Has Legs

Melissa Kwan and her co-founder built Spacio, a company that helped real estate agents win and manage leads that come from hosting open houses.

Kwan built the company to roughly 100,000 agents using Spacio when a chance encounter at an industry conference led to an acquisition offer from HomeSpotter.

Built to Sell vs. Planning to Sell

David Darmanin co-founded Hotjar, a software company that helps website developers and owners understand how their users interact with the sites they build.

Darmanin and his partners bootstrapped Hotjar to around $40 million in Annual Recurring Revenue before selling it in 2021.

How to Create a Bidding War Plus Three Other Lessons

This week’s episode of Built to Sell Radio is the Intel edition. We focus on four recent guests and highlight the strategies that made their companies built to sell.

3 Ways to Play an Industry Roll-Up

In 2013, Jon Claydon started Streamline Marketing to help brands manage their affiliate programs. Claydon bootstrapped his business to around 30 employees but avoided hiring for some senior roles in favor of doing much of the work himself.

The Happy Exit

Prantik Mazumdar and his business partner Rachit Dayal built Happy Marketer, a digital marketing agency, to more than $10 million in annual revenue before they decided to sell to Dentsu Aegis Network. Mazumdar and Dayal agreed to sell for around 7 times EBITDA,  40% of which was paid up front with the remainder available in a four-year earn-out tied to the future profitability of Happy Marketer.

The $26 Million Dollar Man

Josh Delaney started FAB CBD, a CBD e-tailer, in 2017. Delaney’s Mom was his first customer, but his sales quickly went beyond family members. By 2020, through a combination of savvy marketing and good fortune, FAB CBD had risen to more than $10 million in annual sales. In early 2021, Delaney caught the attention of High Tide, a Calgary-based cannabis company that offered him $13 million in cash plus $8 million High Tide shares in return for 80% of FAB CBD (an implied valuation of $25.8 million).

Getting Around Your Non-compete

Nick Leighton started a marketing agency called NettResults with the idea of helping technology companies access consumers in the Middle East. Based in Dubai, Leighton built NettResults to around $2 million in revenue when he decided to sell.

Leighton attracted a number of offers including one from a much larger agency that wanted an office in the Middle East.

The Biggest Mistake Co-Founders Make, and 3 Other Lessons

With Built to Sell Radio, you’ve grown accustomed to hearing entrepreneur exit stories from A to Z, but this week’s episode is a little different. We tease out four transferrable lessons from the latest batch of guests.

Inside Uptime’s 7-Figure Acquisition of JurisPage

Andy Cabasso co-founded JurisPage, a marketing agency specializing in helping law firms in 2013.

Three years later, JurisPage had service contracts with more than 200 law firms when they got a call from Uptime Legal, an Inc. 5000 business specializing in technology and practice management software for law firms.

Turning the Tables on John

By now, you’re accustomed to hearing John Warrillow ask the tough questions.

Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.

Built to Sell Intel - July 2021

On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.

John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.

The Humble Yogi Sells His Business

Along with three friends, Sebastian Johnston co-founded TheAmazeApp in 2014. The idea was based on a simple idea. Social media influencers could upload a picture of what they were wearing and tag the clothing on TheAmazeApp’s database of e-commerce retailers. Then, when one of their followers purchased the item, TheAmazeApp would receive a commission they shared with the influencer.

Double an Offer, Without Turning off an Acquirer

Wes Mathews built High Level Marketing, a digital advertising agency, to $6.5 million in annual revenue. The business was thriving, but when COVID hit, Mathews started to question the risk he was shouldering employing 49 people. It was around that time that Mathews received an email that would change his life forever.

How a Simple Strategy Led to a 35% Higher Valuation for Conversio

In 2014, Adii Pienaar started an email marketing platform for retailers, which became Conversio. By 2019, Pienaar had $2 million in revenue and 14 employees.

Shark Tank's Kevin O'Leary on How to Structure Your Earn-out

Kim Walsh-Phillips founded Elite Digital Group, a marketing agency for clients looking to leverage social media. Walsh-Phillips built her firm to $3.2 million in revenue, but she got stuck when she reached 30 clients.

What To Do When Getting Out Means Staying On

A service-based company can be a tough sell, so Eric Enge found a buyer while his best asset was still on the table: himself.

Getting Out Quick And Clean

Nathaniel Broughton grew Spread Effect to a $4 million company in only four years — so why would he sell for a rock bottom multiple?

Niche Down To Jack Up Your Value

It can be tempting to expand your niche to grow your business, but the broader the market you serve, the less valuable you may be to an acquirer.

Influencer Marketing Pioneer Acquired By Fullscreen

Pete Borum practically invented the term “influencer marketing.” So how did Borum raise $15 million dollars and attract multiple acquisition offers in an industry that didn’t exist before he showed up?

With Clients Like Starbucks And NIKE, Blast Radius Was Irresistible To Acquirers

Digital marketing agency Blast Radius went from 10 people to more than 400 in less that 10 years, ultimately attracting the attention of WPP who acquired them in 2007. Here’s how they did it.

From Food Stamps To A Seven-figure Exit

While Michael Pedone survived off of food stamps as a kid, he dreamed of living a lifestyle where money wasn’t scarce. Fast-forward a few decades, and Pedone sold his first company for $1.2MM.

How To Recover (and thrive) After Splitting From Your Co-Founder

Four years ago Nexalogy CEO Claude Théoret was counting the employees he had to lay off. His company had burned through their $600,000 seed round of investment and he was running out of cash. An ugly split with a former co-founder had divided his team, and Théoret had to turn to his wife for a $40,000 loan.

A Big Chunk of Something Small vs. a Small Slice of Something Big?

A Cautionary Tale

How One Pivot Doubled The Value of This Business

James Garvey grew Objective Loyalty from a standing start in 2005 to $2.5 million in EBITDA. When he and his partner decided to sell they were able to quickly double the value when they switched sell tactics.

Is Your Partnership A Ticking Time Bomb?

John Maddox co-founded the digital agency Ten Fast Feet in the depths of the financial crisis. Despite his timing, Maddox was able to grow the business to $2.3 million in sales by 2013, when he got a call that would change his life forever.

$250K to $180M

Aaron Houghton sold iContact in 2012 for $180 million. The first round of growth was financed by convertible debt, which Houghton recommends for its simplicity. Hear how he parlayed an initial investment of $250,000 into a $180 million exit.

The 26-Million-Dollar Regret

Bobby Martin had built First Research up to $6.5 million dollars in revenue when he sold the business to a Fortune 500 company for 26 million dollars.

Professional Services

The 8-figure Expert

Imagine turning your expertise into an 8-figure exit. That’s exactly what Sue Bryce did. Bryce built a $1 million photography studio in an industry where owners are often limited to low six-figure businesses that are dependent on them.

How to Know When Your Idea Has Legs

Melissa Kwan and her co-founder built Spacio, a company that helped real estate agents win and manage leads that come from hosting open houses.

Kwan built the company to roughly 100,000 agents using Spacio when a chance encounter at an industry conference led to an acquisition offer from HomeSpotter.

How to Attract the Acquirer You Crave

Anthony Fracchia built Altruis Benefit Consulting to $2.5 million in revenue when he started to get unsolicited calls from potential buyers. He initiated conversations with an acquirer only to learn they planned to gut his staff and kill his brand.

How to Create a Bidding War Plus Three Other Lessons

This week’s episode of Built to Sell Radio is the Intel edition. We focus on four recent guests and highlight the strategies that made their companies built to sell.

From Elon Musk to Exit of His Own

Ben Kellie got his start in the aerospace industry helping Elon Musk figure out how to get his rockets to land on a floating barge without blowing up.

In 2015, Kellie left SpaceX to start The Launch Company where they supply hardware parts and consulting to a growing list of new aerospace companies like SpaceX. Less than five years after starting, Kellie was approached by Voyager Space, a private equity-backed group rolling up new space companies.

How to Build Your Company to Sell (Even if You Have No Plans To)

Kevin Waldron built Olympic Restoration, a disaster recovery business, to $24 million in annual sales before he decided to sell. Helping homeowners clean up from a fire or a flood was a good business, but after 17 years, Waldron was tired of fighting with insurance companies over claims.

Inside Uptime’s 7-Figure Acquisition of JurisPage

Andy Cabasso co-founded JurisPage, a marketing agency specializing in helping law firms in 2013.

Three years later, JurisPage had service contracts with more than 200 law firms when they got a call from Uptime Legal, an Inc. 5000 business specializing in technology and practice management software for law firms.

Turning the Tables on John

By now, you’re accustomed to hearing John Warrillow ask the tough questions.

Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.

Built to Sell Intel - July 2021

On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.

John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.

How One Founder Moved Her Multiple From 2 to 8 Times EBITDA

Dr. Kristin Kahle helps businesses pick a benefits program for their employees.

She started three insurance agencies and the first two were service businesses that sold for a modest 1.5-2 times EBITDA.

With her third business, Kahle wanted to attract a higher multiple, so she decided to transform it into a technology company.

Double an Offer, Without Turning off an Acquirer

Wes Mathews built High Level Marketing, a digital advertising agency, to $6.5 million in annual revenue. The business was thriving, but when COVID hit, Mathews started to question the risk he was shouldering employing 49 people. It was around that time that Mathews received an email that would change his life forever.

One Bold Move That Can Make Your Company More Valuable

Henry Hyder-Smith and Steve Denner started UK-based Adestra in 2004. Adestra is a digital marketing software that helps big companies handle email campaigns, among other things.

The company grew nicely. By 2016, it had around $9 million in revenue and a client list that featured some of the U.K.’s best companies. Hyder-Smith and Denner decided it was time to go beyond their borders and enter the U.S. and Asian markets. To fund the effort, they raised $7.2 million from the Business Growth Fund (BGF), one of the U.K.’s largest private equity groups. BGF’s investment valued Adestra at around $35 million — a little shy of four times revenue.

Third Time’s A Charm: From False Starts to Finishing Big

Scott Miller knew that telling his employees he wanted to sell his $3M company, Miller Restoration, could get messy. But he wasn’t prepared for what actually happened.

Getting A Second Bite Of The Apple

Richard Manders co-founded iAutomation and built it up to $12M before deciding it was time to recapitalize. Manders sold 75% of his company for almost 8 times EBITDA to a Private Equity Group (PEG) and held 25% interest in the company after the sale.

An Interview with The E-Myth’s Michael Gerber

For the better part of 40 years, Michael Gerber has been encouraging business owners to work “on, not in” their business. Gerber’s knack for simplifying the complex art of starting and growing a company really resonates.

Your Training Wheels Business

 something else. Hear his story on this week’s episode. 

The External vs. Internal Sale

Barry Wood sold two virtually identical businesses over an 18 year period. The first was external and the second, internal. His exits clearly show the differences in an as close to apples-to-apples comparison as possible. The pros and cons may surprise.

The $10 Million Membership Model

Small service-based businesses are typically not worth very much, but Walter Bergeron made one simple change to his business model that garnered a $10 M acquisition offer.

Buy low, sell high

John Ratliff started Appletree Answers in a spare bedroom of his house in 1995 and by 2012 had grown it to 650 employees and 24 locations when he decided it was time to sell.

Real Estate

How to Know When Your Idea Has Legs

Melissa Kwan and her co-founder built Spacio, a company that helped real estate agents win and manage leads that come from hosting open houses.

Kwan built the company to roughly 100,000 agents using Spacio when a chance encounter at an industry conference led to an acquisition offer from HomeSpotter.

What’s Your Company’s Name Worth

In the early 2000s, Carl Gould gained notoriety in New Jersey for building upscale modular and log homes under the banner Outdoor Imaging. Gould invested heavily in growing his reputation in the New Jersey market.

3 Acquisition Offers, 1 Surprising Decision

Two to Tango

Manny Fernandez started HomeBuyingCenter.com in 2007, just as the real estate market started to wobble in the United States. As it turned out, his timing was perfect as his site helped underwater homeowners unload their real estate.

Technology

How to Turn Beta Users into Customers Plus 3 Other Stories

This week, we’re featuring four recent guests and highlighting transferrable lessons they shared about exiting their company.

 

Maker vs. Manager

In 2019, Ben Tossell was a frustrated entrepreneur, launching products nobody bought. His contacts showed little interest in his concepts but were curious about how he built his online offerings – especially because Tossell admitted he didn’t know how to code.

The 8-figure Expert

Imagine turning your expertise into an 8-figure exit. That’s exactly what Sue Bryce did. Bryce built a $1 million photography studio in an industry where owners are often limited to low six-figure businesses that are dependent on them.

4 Big Takeaways on Building the Value of Your Company

This week, we’re back with the latest Intel edition of Built to Sell Radio. We feature four recent guests and dissect what made their companies built to sell.

Built to Sell vs. Planning to Sell

David Darmanin co-founded Hotjar, a software company that helps website developers and owners understand how their users interact with the sites they build.

Darmanin and his partners bootstrapped Hotjar to around $40 million in Annual Recurring Revenue before selling it in 2021.

How to Sell a 12 Employee Company for $17 Million

Rafael Zimberoff built ShipRush, an application that helps businesses streamline their technology, to 12 full-time employees when he sold it to Descartes for $14 million, plus a $3 million earn-out.

How to Create a Bidding War Plus Three Other Lessons

This week’s episode of Built to Sell Radio is the Intel edition. We focus on four recent guests and highlight the strategies that made their companies built to sell.

From Elon Musk to Exit of His Own

Ben Kellie got his start in the aerospace industry helping Elon Musk figure out how to get his rockets to land on a floating barge without blowing up.

In 2015, Kellie left SpaceX to start The Launch Company where they supply hardware parts and consulting to a growing list of new aerospace companies like SpaceX. Less than five years after starting, Kellie was approached by Voyager Space, a private equity-backed group rolling up new space companies.

Getting Around Your Non-compete

Nick Leighton started a marketing agency called NettResults with the idea of helping technology companies access consumers in the Middle East. Based in Dubai, Leighton built NettResults to around $2 million in revenue when he decided to sell.

Leighton attracted a number of offers including one from a much larger agency that wanted an office in the Middle East.

Once Bitten, Twice Shy: The (Real) Reason Jay Gould Sold Yashi for $33M

Jay Gould co-founded Yashi, a platform that helped advertisers buy ads on video content. Yashi grew to more than $25 million in revenue and more than $5 million in EBITDA when Gould received an offer of $33 million from Nexstar Broadcasting. The offer represented around 6 x EBITDA and Gould was conflicted. He knew he could probably get more, but he had also seen how quickly a successful company can go to zero.

Inside Uptime’s 7-Figure Acquisition of JurisPage

Andy Cabasso co-founded JurisPage, a marketing agency specializing in helping law firms in 2013.

Three years later, JurisPage had service contracts with more than 200 law firms when they got a call from Uptime Legal, an Inc. 5000 business specializing in technology and practice management software for law firms.

From Broke to Big Time Exit in Just 2 Years

In 2017, Justin Adams co-founded Digitize.AI to help hospitals get paid. They used artificial intelligence to get medical treatments pre-approved by insurance companies ensuring their patients could pay their medical bills.

The business was hungry for cash, and Adams and his wife put everything their young family had into the idea. At one point, Adams was so short of money that when their clothes dryer broke, the Adams family started hanging their laundry because they couldn’t afford the repair.

Turning the Tables on John

By now, you’re accustomed to hearing John Warrillow ask the tough questions.

Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.

Built to Sell Intel - July 2021

On this month’s episode of Built to Sell Intel, John will be sharing key insights from the latest group of entrepreneurs interviewed on Built to Sell Radio.

John recaps his favorite anecdotes in this monthly live broadcast, highlighting helpful strategies and transferable lessons.

The Carve-Out Exit

Cary Moretti is the founder of NewSportMedia, an IT consulting company that does work with sports leagues. Along the way, Moretti created a software application called LeagueStat. The app helped hockey leagues like the AHL and CHL provide fans, journalists, parents, and scouts with real-time statistics on their favorite teams.

How One Founder Moved Her Multiple From 2 to 8 Times EBITDA

Dr. Kristin Kahle helps businesses pick a benefits program for their employees.

She started three insurance agencies and the first two were service businesses that sold for a modest 1.5-2 times EBITDA.

With her third business, Kahle wanted to attract a higher multiple, so she decided to transform it into a technology company.

The Humble Yogi Sells His Business

Along with three friends, Sebastian Johnston co-founded TheAmazeApp in 2014. The idea was based on a simple idea. Social media influencers could upload a picture of what they were wearing and tag the clothing on TheAmazeApp’s database of e-commerce retailers. Then, when one of their followers purchased the item, TheAmazeApp would receive a commission they shared with the influencer.

Double an Offer, Without Turning off an Acquirer

Wes Mathews built High Level Marketing, a digital advertising agency, to $6.5 million in annual revenue. The business was thriving, but when COVID hit, Mathews started to question the risk he was shouldering employing 49 people. It was around that time that Mathews received an email that would change his life forever.

A Rembrandt in the Attic

James Prebble co-founded Palladium Digital, a consultancy helping companies think about their digital strategy.

The company experimented with various business models until they landed on helping private equity groups get a return on their investments. Private equity groups hired Palladium to perform “digital due diligence” before they invested. Along with identifying any flaws in a target company’s digital strategy, Prebble and his team were also asked to identify any untapped digital assets that, if adequately exploited, had the potential to transform the business being considered for investment. Discovering these so-called “Rembrandts in the attic” is what private equity groups often look for to jack up their return on investing in your business.

One Bold Move That Can Make Your Company More Valuable

Henry Hyder-Smith and Steve Denner started UK-based Adestra in 2004. Adestra is a digital marketing software that helps big companies handle email campaigns, among other things.

The company grew nicely. By 2016, it had around $9 million in revenue and a client list that featured some of the U.K.’s best companies. Hyder-Smith and Denner decided it was time to go beyond their borders and enter the U.S. and Asian markets. To fund the effort, they raised $7.2 million from the Business Growth Fund (BGF), one of the U.K.’s largest private equity groups. BGF’s investment valued Adestra at around $35 million — a little shy of four times revenue.

A $30 Million Bird in Hand

Before Zoom, when you wanted to meet with a group of people remotely, you used a teleconferencing service. If you lived in Canada during the early 2000s, you probably used one of Frank Cianciulli’s lines.

Why Policy Medical Got 7.2 x Revenue

Saud Juman built PolicyMedical, a company enabling hospitals to document their procedures and policies, into a software company growing 100% a year when he sold it for 7.2 times revenue. It was a remarkable exit for a business Juman started in his mother’s basement.

How To Overcome Owner's Guilt

Todd Kaufman and his partner Justin Searls started Test Double, a custom software development company, in 2011. The business was a success from the start and grew more than 25% a year. By 2019, Kaufman and Searls were generating more than $10 million in annual revenue and putting more than $3 million to the bottom line each year. An outside valuation consultant suggested if they ever wanted to sell, Kaufman and Searls could get around 6.5 times profit for their business or around $20 million.

Play Hard to Get, Without Risking Your Deal

Rob Walling started an email service provider named Drip back in 2012. Walling bootstrapped his growth to almost $2 million in Annual Recurring Revenue (ARR) when, in 2015, Clay Collins, the founder of Leadpages, came knocking.

Turning a $2M Business Into a 9-figure Windfall in 3 Years

When Matt Schmeltz and his partners acquired CloudCraze, it was a simple software application helping businesses that use Salesforce.com manage their customer relationships. CloudCraze generated $2 million in annual recurring revenue, but Schmeltz & Co. figured it could do much more.

How Matchmaking By Microsoft Led To One Of 2018’s Biggest Technology Deals

Mergers can be painful. But when Mitchell Feldman was approached by Microsoft about merging with another company, the result was a match not even HPE could resist.

This Grasshopper Learned Well

David Hauser’s Grasshopper is a masterclass in building a business to sell. With no venture funding and fewer than 40 staff, Grasshopper was acquired 12 years after its founding for $165 million in cash and $8.6 in Citrix stock.

From Broke To A $1B Sale

Gorny built his first business- and lost it. He was determined not to let that happen again.

Finding An Investor Vs. An Acquirer

Finding an acquirer for your business feels a lot like searching for an investor, but as Moritz Plassnig found out, there is one crucial difference.

Built to Flip: From Start Up To Sell Out In Just 2 Years

After a motorcycle accident shattered Jon Read’s collar bone into 6 pieces, he wasn’t able to follow-through on his post-surgical rehabilitation appointments because of his busy travel schedule. So, he created an app.

How To Get Acquired By Facebook (Twice)

The market for digital assistants is booming. Apple has Siri, Amazon has Alexa and Google has Google Assistant. Now, thanks to Charles Jolley, Facebook has Ozlo, a digital assistant designed to outsmart Siri and Alexa at their own game.

The Hunter vs. the Hunted

Drew Goodmanson started Monk Development as a custom website development shop and evolved it into a product enabling churches to establish an online presence. With more than 300,000 churches in the United States, Goodmanson’s company took off and he grew it to more than $3 million in recurring revenue per year, leveraging the Software as a Service (SaaS) business model.

How to Get Negotiating Leverage When You’re Desperate

Chris Muench started C-Labs in 2008 to go after the burgeoning opportunities presented by the Internet-of-Things (IOT).

How to Get More Than 1 Times Revenue for a Company with No Hard Assets

Etienne Borgeat co-founded PCO innovation, an IT consulting firm, in 2000. By 2016, the firm had 600 full-time employees and offices around the world, which is when Accenture knocked on their door.

The Strategic vs. The Financial Buyer

Tom Franceski and his two partners built DocStar up to 45 employees when they decided to shop the business to some private equity (PE) investors. The PE guys offered four to six times Earnings Before Interest Taxes Depreciation and Amortization (EBITDA), which Franceski deemed low for a fast-growing software company.

How Mainspring Went From a Valuation of 1 to 5 Times Revenue

In 2014, Hank Goddard got an offer of one times revenue to buy his software company, Mainspring Healthcare Solutions.

Negotiation Secrets From Three Exits

Dan Martell started Spheric Technologies to help Fortune 500 companies build website portals, an emerging business back in 2004. Within four years, Martell had scaled the business to 30 employees when he received an acquisition offer that would change his life.

The Downside Of Being Upfront With Employees

In 2011 Josh Holtzman, the founder and CEO of American Data Company, gathered his employees into a conference room to announce “Fifteen Cubed”, a company-wide initiative to grow to $15 million in revenue by the year 2015.

How a Vision Board Drove One Owner to Sell

 birthday. As that milestone approached, Oshman started getting his business ready to sell.

Why Hitting $10MM In Annual Revenue Matters

Jill Nelson built Ruby Receptionists, a call answering service, into an $11MM business when she met with an investment banker who told her the technology she had built to answer calls could be worth a mint.

The success rate statistics on selling your business

John Arnott gives you the statistics on how many people he approached, the conversion rate for signing an NDA, the proportion of people under NDA who requested a face-to-face meeting and the number of offers received.

How Shapeup Got Richard Branson To Boost His Acquisition Offer By 50%

How To Structure Your Earn-Out

Mark Stephenson and his partners grew Media Edge Communications, to north of $10MM when they agreed to sell. If Stephenson had a do over, he would change his earn-out structure to avoid leaving money on the table.

The downside of accepting shares as payment from your acquirer

Doug Chapiewsky built CenterPoint Solutions Inc. into an Inc. 500 company with $5 million in revenue and more than $3 million in EBITDA before he sold it to Israeli-based Nice Systems.

The $20 Million Mistake

Rod Drury founded Xero, a cloud-based accounting platform. Drury got the capital from selling another company, AfterMail, for $15M plus $20M in a potential earn-out—not bad for a company with a little more than $2M in revenue.

The Competitive Threat

Selling The Baby In The Bathwater

Why Was This Money-Losing Business Worth $10 Million?

The 50% Bump

The Apple Acquisition

Carl Silbersky sold his software company to Apple in 2010 for a reported $29M. The negotiation was smooth but Steve Jobs would not budge on one point. Learn how one of the savviest deal-makers of our time approached his acquisition.

The Strategic

A strategic acquisition is a different animal. The strategic acquirer will place a value based on how much more of their product they can sell, which is exactly what Business Objects did when they bought Next Action Technologies, for 8X revenue.

The Atheist Bible Salesman Who Sold His Company for 5X Revenue

Trevor McKendrick had created the best-selling Spanish-language Bible app when he was approached about an acquisition. The offer was 3.5x revenue but Trevor got them to 5x with a combination of chutzpah and a knack for reading the fine print.

Cut Your Earnout

In this episode, Stephan Spencer details three strategies he pursued to withdraw from his business’s day-to-day operations. By 2010, he was able to take a six-month sabbatical which ultimately lead to a sale in 2010 with only a six-month earnout.

The Shotgun Deal

The 9-Figure Exit

Usually a 9-figure exit takes more than a year to complete but when Blackberry was behind schedule on it’s tablet launch, they saw Hampus Jakobsson’s business as a saviour. This led Blackberry to a $150M acquisition in less than six weeks.

The Phantom Buyer

When negotiating to sell your company, the fastest way to spike your earnings is to introduce a competing offer. But you don’t always have that luxury. It may be better to simply fake it, which is exactly what Trent Dyrsmid did to boost his take.

To Sell or Not to Sell?

Would you rather have one million dollars in the bank today or a chance to have ten million a decade from now? It’s a philosophical question that comes down to the time value of money and your tolerance for risk.

The Pivot

Andrew Yang had built Manhattan GMAT into an $11 million business when Kaplan Test Prep, an 800-pound gorilla in the education business, threatened legal action against his company.

How to negotiate an extra $1M in the sale of your business overnight

After building his business for twenty years, Stuart Crane sold it for $43M, which includes an extra million he got by using this one simple technique.

Venture Capital

Warren Buffett’s Advice On Creating A Valuable Business

Turning business down can be tough for an entrepreneur, but Mitch Durfee learned the hard way that saying ‘yes’ can lead to disaster.

How to Exit a Consulting Business

Sohail Khan built J.V. Global Consulting into a $3 million consulting business, offering training boot camps and consulting on how to set up joint venture partnerships. Khan was approached by one of his clients wanting to buy his business.

The ADHD Entrepreneur

Mark Patey started Prodigy Engineering in 2010 to help companies leverage hybrid engine technology. Four short years later, Patey accepted a multi-million dollar offer to buy the company.