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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.
As part of the program, Holtzman had “Fifteen Cubed” bracelets made for each employee and promised to share 15% of the business’s sale proceeds with his team.
His team left the conference room energized. The only problem was, American Data failed to grow: it remained stuck between $3 million and $4 million in revenue for the next two years.
Fast approaching the 2015 deadline, Holtzman decided the only way for American Data to reach their goal would be for him to sell his business to a similar company.
In this episode, you’ll learn:
Magnet 360 acquired American Data for an amount about equivalent to their top line revenue because Magnet 360 was looking for a fast way to create a geographic beachhead on the West Coast. Have you considered how your location might (or might not) make you attractive to a buyer? That’s one of the questions you’ll ponder when you complete The Short List Builder, Module 11 in The Value Builder System™—get started for free by completing your Value Builder questionnaire.
Josh Holtzman is an entrepreneur and business coach based in Los Angeles, California. Holtzman began his entrepreneurial journey at the age of 26 and grew his technology consulting firm into one of the fastest growing companies in the nation. He ultimately sold the organization to a national player. Together they grew that business 300% in three years and ultimately sold it a second time to a publicly traded global IT services firm. Holtzman currently works with entrepreneurial leadership teams to help them get what they want from their organizations through a simple set of proven tools and disciplines.