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May 17, 2019 |
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CJ Whelan and his co-founder evolved a typically “free service” into something that customers were more than willing to pay for – and remain loyal.
In the era of easy-to-access and (often) free web conferencing solutions like Zoom and GoToMeeting, how does a service industry like teleconferencing stay competitive?
If you ask CJ Whelan, who started Adigo with his business partner in 2004, the answer is customer loyalty. By 2018, Adigo was bringing in millions of dollars in revenue and sustaining an astonishingly industry low customer churn rate of only 2% over a year.
How did he keep his customers satisfied in such a busy industry?
In this episode, you’ll learn:
Whelan and his business partner were able to build a loyal base of customers and predict their future growth to ensure low churn. Understanding your future growth is a key factor in building a valuable business success and is explored in Module 3 of The Value Builder System™. To find out more get started for free right now by completing Module 1.
In this episode, Stephan Spencer details three strategies he pursued to withdraw from his business’s day-to-day operations. By 2010, he was able to take a six-month sabbatical which ultimately lead to a sale in 2010 with only a six-month earnout.
10 X Earnings By Future Proofing Your Buyer
David Trewern grew DT to $10 million in annual revenue before he sold it to STW Group for almost 10 times profit after tax, getting maximum value for his business because he started to look at the world through the eyes of his would-be acquirer.
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.
How to Sell a Consulting Business for 12 X EBITDA (Without an Earn-Out)
Pete Martin built EntryPoint Consulting to 34 employees when he sold it to KPMG for a staggering 12 times earnings — without an earn-out.
The Surprising Reason Ryan Kulp Sold Fomo
In 2016, Ryan Kulp launched Fomo because he saw marketers using aggressive popups on their websites.
Kulp reasoned that if he could show other people were shopping and interacting with a site, it would give new visitors confidence in the company.
Fomo allows businesses to show off real-time customer interactions (purchases, opt-ins, even pageviews) with a line of code the company installs on their site.
Rory Fatt began his entrepreneurial journey running marketing seminars for restauranteurs. After several owners approached Fatt to do their marketing for them, he decided to launch Royalty Rewards in 2005.
The business was a multimedia marketing platform that helped small businesses market their products and services by rewarding loyal customers. The company took off, hitting just over $2 million in revenue in its first year.
Inspired to achieve financial freedom, Fatt began to explore selling his company. In 2022, he accepted an offer from Schianti Partners that would set his family up for life.
Hacking Your Way to a $22 Million Exit
In 2015 Nick Santora founded Curricula, a cyber security awareness training program that helps companies defend themselves against hackers. Santora created fun, cartoon training videos in contrast to the dull content that existed at the time.
Companies happily embraced Santora’s approach. By 2021 he had grown Curricula to just over $2 million in annual recurring revenue when he accepted an acquisition offer from the cyber security giant Huntress for $22 million.
In 2015, Lorenzo de Plano co-founded Solace Technologies, one of the first vape manufacturers in the United States. The goal of the business was to create a discreet vape pen that customers could use as an alternative to smoking cigarettes.
The business boomed to revenue of more than one million dollars a month, but a looming threat had de Plano eyeing an exit. So, when a $15 million offer came in, he bit.
Exiting the Automatic Business
up to $4 million in revenue before he sold it in a multimillion dollar exit in 2015. Schoen was able to attract a number of buyers because he had created an operating manual employees could follow.
Was The Inc. 500 The Reason For This Founder’s Exit?
James Roman grew iVelocity’s revenue by a whopping 1000% – was the stress that ensued worth it?
How To Double An Acquisition Offer For Your Business
Bobby Albert took over the family moving business. Determined to succeed, he transformed his father’s five-person business into a fast growth company, eventually employing 150 people before being approached by a strategic acquirer.
