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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.
By 2015, Ferrilla had built his company up to 15 employees and was on target to hit $3 million in annual revenue, when they ran into a glitch. Ferrilla’s team had dozens of product ideas but not enough money to development them all.
Ferrilla decided to look for an investor, partner or outright acquirer. He received three offers and settled on one that offered him more than five times revenue for his business. In this episode, you’ll learn:
Ferrilla maintained ownership of his intellectual property (IP) despite customizing his software for big casino operators like MGM. Do you own the IP in your business? That’s just one of the questions we’ll consider when we go through The Monopoly Control module of The Value Builder System™— get started now by completing your Value Builder questionnaire.