Exiting the Automatic Business
February 10, 2016 |
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:
Ian Schoen built Two Tree International 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.
Our guest
Ian Schoen is the co-founder of Two Tree International, a design and manufacturing firm that brings products directly from concept to customer. The company was started in 2008 with a $50k loan and had grown to sales of over $4 million with 15 employees when it was sold in 2015. Ian is currently spending his energy bringing together a community of like-minded entrepreneurs with an emphasis on meetups, masterminds, and travel at DynamiteCircle.com. His journey and anecdotes are charted weekly on a podcast with his co-host Dan Andrews at TropicalMBA.com. Ian can usually be found racing something with wheels on the weekend and on Twitter the rest of the week (@anythingian).Related to this topic
How Hawking Pool Chemicals On Subscription Led To An Offer From An Industry Giant
century. When they started looking for new funding, they found a buyer instead.
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.
How EBITDA Adjustments Impact The Value Of Your Business
Ari Ackerman started Bunk1 in 1999 to give parents a way to keep in touch with their kids while they were at summer camp.
Lee Gregory built Sir Lines-A-Lot, a company that paints lines on highways, to 40 employees. It was blue-collar work, so when Gregory learned his company could be worth north of eight figures, he decided it was time to sell. During this interview, Gregory drops dozens of knowledge bombs for aspiring value builders.
How to Sell a 30-Person Consultancy for $162 Million
At age 36, Greg Alexander decided to start Sales Benchmark Index (SBI), a sales consultancy. Over the next eleven years, Alexander built the business to 30 employees who collectively generated about $30 million in consulting fees per year.
The Atheist Bible Salesman Who Sold His Company for 5X Revenue
Trevor McKendrick had created the best-selling Spanish-language Bible app when he was approached about an acquisition. The offer was 3.5x revenue but Trevor got them to 5x with a combination of chutzpah and a knack for reading the fine print.
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.
How to Punch Above Your Weight Class With Acquirers
Peter Carlin started Logicearth to improve how companies teach their employees online. They built e-learning courses that were almost as good as being there in person. They caught the attention of a marketing agency called The Creative Engagement Group (TCEG), which had clients that needed online courses.
America’s Condom King Sells His Business
Adam Glickman started hawking “Jumbo Brand Condoms” from his dorm room in 1989 under the moniker “a safe jumbo is a happy jumbo.” His brand grew and upon graduation, he started America’s first retail condom shop in New York City.
How To Sell Your Family’s Business
Ross Organic was a family business, so when Stephanie Leshney took over from her father, she knew she had to make some changes if it was going to grow into a more valuable company.
The Downside Of Being Upfront With Employees
In 2011 Josh Holtzman, the founder and CEO of American Data Company, gathered his employees into a conference room to announce “Fifteen Cubed”, a company-wide initiative to grow to $15 million in revenue by the year 2015.