The Atheist Bible Salesman Who Sold His Company for 5X Revenue
February 24, 2016 |
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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.
McKendrick received an astronomical multiple for his business in part because he had set it up to run without his day-to-day involvement (McKendrick was working about an hour a week when he sold his business and handled most of the negotiations while on a two month vacation with his wife in Germany). Getting your business to run without you is the ultimate goal of everything we do at The Value Builder System. Get started by getting your Value Builder Score™ here.
Our guest
arted Salem Software, developers of Spanish-language iOS apps, in 2012. He grew it to over a million users and finally sold the company in 2015. He’s been featured in the Startup podcast, the Huffington Post, Business Insider, Fox News, Fast Company, and numerous other publications. He also holds a master’s in accounting, and is currently creating an accounting essentials course for entrepreneurs and freelancers. You can find Trevor and info on his accounting course at TrevorMcKendrick.com.
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