Menu
December 7, 2018 |
Subscribe:
Washington state’s legalization of recreational marijuana sounded like an entrepreneur’s dream, but the reality had Brandon Neth looking for an exit after only 5 years.
Imagine two homes on the same street with the same square footage, and the same interior – but one sells for double the price. What happened? The answer: one home had a Rembrandt in the attic – a hidden masterpiece, skyrocketing its value.
If you think of your business as a home, what would be the Rembrandt in your attic?
For Brandon Neth, founder of Northwest Cannabis Solutions (NWCS), his “Rembrandt” was the license to produce marijuana in Washington State.
Ready to exit his business after just 5 years, Neth discovered the combination of an oversaturated market and strict state regulations made it difficult to sustain profit and place any company value on paper. But, he had one tantalizing asset: acquirers were desperate for a coveted license to produce pot in Washington.
Listen now to learn:
Want to discover what’s in your company’s ‘attic’?
Take the Value Builder Score and discover the unlocked asset that could make your business more valuable than you thought.
How to Sell Your Business to a Competitor
Alex Rink built 360pi, a software application that provided online retailers with competitive pricing information.
360pi grew into a multi-million-dollar company with 40 employees when Rink began hearing his business might be worth as much as 3-6 times revenue.
Reoccurring Revenue vs. Recurring Revenue
Mike Malatesta built Advanced Waste Services, a company that helped businesses dispose of their industrial waste, to $45 million in annual sales before a fateful lunch changed his life forever. It was with a division president of Covanta (NYSE: CVA) who saw acquiring Malatesta’s company as the perfect way to enter the industrial waste industry.
How to Get Your Business to Run Without You
When Jodie Cook started her social media agency, nothing happened without her involvement.
Desperate to free herself up from the minutia of running her company, Cook started to systematize her business with Standard Operating Procedures (SOPs). After a few missteps, Cook mastered the art of delegation.
Raising Money Vs. Going It Alone
Katherine Hague co-founder of ShopLocket was a prodigious fundraiser in the two years from idea to exit. Hague describes some of the landmines to avoid when raising outside capital and why she still has one regret about the sale to PCH.
By now, you’re accustomed to hearing John Warrillow ask the tough questions.
Every month, we turn the tables and grill John on his favorite anecdotes and transferrable lessons from the latest batch of guests on Built to Sell Radio. In this episode, Dr. Jeremy Weisz gets John to reflect on what stood out, any missed opportunities, and how each story imparts the Built to Sell Methodology.
The Single Biggest Mistake Owners Make
Philip Williams’ environmental consulting company was going to be sold to one of the biggest players in the oil industry. But just as the check was about to be signed, the deal took a strange turn.
Staffing-industry veteran Will Gilbert co-founded Socium – a U.K.-based company supplying workers to companies that needed them – in early 2019. Within six months, Socium was generating more than 7 million U.K. Pounds in revenue.
How Two Co-Founders Stopped One Thing To Change Everything
The two founders of Stelligent were burnt out running their consulting business until they agreed to stop doing one thing that changed just about everything.
The Good, the Bad (and the Ugly) Of Selling to Private Equity
Marc Elkman built Fresh Meal Plan, a meal delivery service for healthy eaters, from an idea to $20 million in annual revenue in just three years.
Still in his twenties, Elkman earned a spot on the Inc 500 list of fastest-growing companies in America. Then he caught the attention of New Heights Capital, a private equity group focused on the fitness industry. New Heights acquired the controlling interest in Fresh Meal Plan in 2016 and Elkman continues to hold a minority stake.
How to Sell a Service Business Without an Earn-Out
In 2011, Jodie Cook started an eponymously named social media agency, JC Social Media. Over the next nine years, Cook built the business up to 16 employees. Then, she decided to sell at the end of 2020 and thought her company could be worth in the 5-7 times EBITDA range.
This week on Built to Sell Radio, we highlight the top strategies from the 10 most popular shows of 2022.
Scaling Your Business through Strategic Partnerships with Simon Penson
In 2009 Simon Penson founded Zazzle Media, one of the first content marketing agencies in the U.K. Although the company was successful, Penson had difficulties winning large customer contracts due to the size of his agency.
To enhance his credibility, in 2015 he decided to merge Zazzle Media with Stickyeyes, which, at the time, formed the largest content marketing agency in the U.K.
Penson’s decision proved to be savvy.
