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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.
Fairley had grown Hammocks.com into a seven-figure website with a pre-tax profit of more than $300,000 when he decided to put it up for sale. He received a “low seven-figure” offer and agreed to meet with the buyer.
That’s about when things started to unravel.
The buyer questioned Fairley’s bookkeeping and dropped their price to around $700,000. Exhausted, Fairley felt cornered and decided the only thing he could do was to accept the lower price.
In this cautionary episode, you’ll learn:
Are You Tired of Always Carrying Your Company?
One of the reason Fairley agreed to a lower acquisition price was that he was exhausted by the weight of single-handedly running a seven-figure business. Is your business too dependent on you? If so complete the Value Builder questionnaire to identify some quick ways to free up more of your time.