From Broke To A $1B Sale
April 20, 2018 |
Want to increase the value of your business by up to 71%?
Take the 13-minute survey and get your Value Builder Score
About this episode
Subscribe:
Gorny built his first business- and lost it. He was determined not to let that happen again.
Tomas Gorny and his partner started a website hosting company called IPOWER in 2001 with nothing more than a credit card. Over the next six years, they built the business to $40M in revenue, which is when they merged with Endurance, a competitor.
They ran the merged company, with Gorny as the largest individual shareholder, for four years and then sold the combined entity to a private equity group for $975M in 2011—just 10 years after Gorny started the business.
In this episode, you’ll learn:
- What Gorny did differently when he started his company that led to its success
- How to protect your downside using preferred shares during a merger
- The business rules Gorny lives by based on his experience of losing his first fortune
Gorny’s mission-driven approach to simplifying website hosting set him apart in the industry. Want to set your business apart from your competitors? Module 6 of The Value Builder System™, Monopoly Control, will walk you through discovering your competitive edge. Get started for free right now by completing Module 1.
Tomas Gorny is currently the Co-Founder and CEO of Nextiva. For more information, please visit nextiva.com
About Our Guest
Tomas Gorny is a serial entrepreneur and CEO who truly embodies the principles of the American Dream. In 1996, after selling his first business, Gorny moved to Los Angeles and became a minority owner of a web hosting business. Two years later it was sold to a publicly-traded company and Gorny invested his earnings into other ventures. Then the dot com bubble burst and wiped out his fortune. Taking a number of lessons from his first rise and fall of entrepreneurship, Gorny founded IPOWER in 2001, which later sold for $1B to Warburg Pincus and Goldman Sachs. Tomas is the CEO and Co-Founder of Nextiva. For more information please visit nextiva.com
Related to this topic
How One Bad Boy [Clause] Landed an 8-Figure Deal
Find out how Erik Van Horn went from running a business for only two hours a week to making an eight-figure exit.
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 Rethink Your Business Like A Lobster
It’s ironic that Joshua Dick lives in Italy, one of the country’s worst hit by COVID-19 deaths. He moved to Italy with his family as a reward for selling his business, Urnex Brands. Urnex was in the unglamorous business of selling cleaning supplies for coffee makers. As is often the case, the least attractive companies are often some of the most profitable, and when Urnex ticked passed $5 million in EBITDA, Dick decided to sell.
Procrastinating the sale of your business? One entrepreneur shares a cautionary tale that reveals the best time to sell your company may be when someone’s willing to buy it.
How To Find A $100 Million Idea
Dr. David Bach is a Harvard-trained scientist, physician, and serial entrepreneur.
What To Do When Something New Attracts Your Attention
We talk a lot about how you sell a business, but the real satisfaction comes when exit and expectations match.
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.
Derek Sivers sold CD Baby for $22 million dollars and decided to do something interesting with the money.
Tips, Hacks And Countermeasures For Negotiating With A Giant
If you’re working from home amid the COVID-19 pandemic, you’ve probably received a few packages from Amazon. As more people order essentials to deal with “shelter at home” restrictions, Amazon has seen a sudden spike in activity, which is causing them to hire more than 100,000 fulfillment center workers.
Building to Sell Through a Crisis
Nashville-based Bryan Clayton was running Peachtree, a landscaping business, when the financial crisis of 2008 hit hard. Customers stopped spending money overnight. Clayton gathered his employees together and told them the world had changed and asked each to re-commit to the company. Clayton told them that the road ahead would be challenging, but he would do everything in his power not to cut staff.
9 Lessons From An Acquisition Offer Gone Wrong
Back in 2007, Aric Bandy saw Google investing heavily to compete with Amazon Web Services (AWS) and so decided to pivot his company, Agosto. Instead of offering general IT consulting, Bandy focused on helping clients move their businesses online using something Alphabet calls the Google Cloud Platform.
How Nick Gray Sold Museum Hack
Nick Gray built Museum Hack, a company that offers fun museum tours in major cities, to almost 3 million dollars in annual revenue when he had an idea.