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Tom Hannon’s publishing company grew rapidly, and he received 4 offers. So why does he wish he handled his exit differently?
Tom Hannon started FPD to create and distribute niche publications. He grew the company to $3M in revenue over 18 months when a family illness prompted him to reach out to acquirers.
His company was valued at $2.1M and received 4 offers, but he ended up walking away with $1.5M. Hannon candidly shares why he left money on the table and what he would do differently if he had a re-do.
In this episode, you’ll learn:
One reason Hannon’s business was discounted by acquirers was that a single customer represented a large portion of his revenue. Module 8 of The Value Builder System™ takes you through an exercise that identifies if your business is too dependent on any one customer, supplier, or employee. Get started for free right now by completing Module 1.
The journey started for Tom Hannon at age 11 when he parlayed 3 boxes of Necco candy into a uniform and new bat at Ted Williams Baseball Camp he could not have otherwise afforded. Hannon’s professional career was mostly spent in the publishing and distribution industry and has taken him through the full scope of entrepreneurship. The journey has included several startups, a dozen acquisitions, and he rolled those up into several exits that included sales to both publicly traded and international companies. A passionate and hard worker, Hannon is the definition of serial entrepreneur.