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November 4, 2015 |
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Rick Day built Daycom Systems into a $23 million dollar business over a 17-year run. Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier.
Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier in a business where the technology was changing fast. Motivated by the fear of becoming obsolete, Day decided to assemble an advisory board to help him prepare the business to sell. The board helped him to see his business through the eyes of a potential buyer and exposed a number of things that Day needed to fix.
Rick founded, built, and sold Daycom Systems, a telecommunications VAR (value-added reseller) and Avaya-authorized dealer based in San Diego. The company, with revenues of $26 million, was the largest Avaya VAR on the West Coast and the only one to have both US and Mexican nationwide authorizations. Daycom was acquired by Carousel Industries (Exeter, RI) in April 2009. After the sale of Daycom, Rick co-founded, serves as CFO, and is a Director at South Coast Yachts, the Beneteau authorized dealer in San Diego. He is also the founder of BusinessbyDay.com, a business coaching firm, and Steadfast Finance, a California-licensed financial lender. Rick is a Managing Partner in Phenix Salon Suites and is a Limited Partner in Moore Venture Partners.
Gorny built his first business- and lost it. He was determined not to let that happen again.
Libsyn’s Acquisition of AdvertiseCast: The Tell-All
In 2016 Trevr Smithlin and Dave Hanley founded AdvertiseCast, a marketplace connecting podcasters with advertisers. The company experienced tremendous growth, doubling revenue year-over-year until 2020. That’s when the uncertainty triggered by the COVID-19 pandemic caused Smithlin and Hanley to consider their strategic options.
In March 2021, Smithlin and Hanley signed an acquisition agreement from Libsyn for $30 million.
Built to Sell Radio Q&A Feature
This week on the show, we tried something a little different.
Instead of interviewing an owner about their exit, we canvassed founders for their questions about building to sell and asked the host of Built to Sell Radio, John Warrillow, to answer them.
In this episode, John draws on his experience interviewing more than 300 founders on Built to Sell Radio to answer five essential questions.
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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.
4 Big Takeaways on Building the Value of Your Company
This week, we’re back with the latest Intel edition of Built to Sell Radio. We feature four recent guests and dissect what made their companies built to sell.
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Back in 2004, John Moore started 3D4Medical.com, a company that created three-dimensional models of the human body, photographed them and licensed the images to textbook publishers. When the Great Recession hit, Moore’s business took a turn, and he realized he needed to re-invent the company.
A $471 Million Exit From The Online Travel Industry
From a standing start, Dinesh Dhamija grew European online travel agency eBookers to more than one billion in sales in just five years.
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Why Policy Medical Got 7.2 x Revenue
Saud Juman built PolicyMedical, a company enabling hospitals to document their procedures and policies, into a software company growing 100% a year when he sold it for 7.2 times revenue. It was a remarkable exit for a business Juman started in his mother’s basement.
Built to Sell vs. Planning to Sell
David Darmanin co-founded Hotjar, a software company that helps website developers and owners understand how their users interact with the sites they build.
Darmanin and his partners bootstrapped Hotjar to around $40 million in Annual Recurring Revenue before selling it in 2021.
The Strategic vs. The Financial Buyer
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