About this episode
Calvin Johnson built Lykki, an office supply company, to more than $7 million in annual revenue.
Johnson had two divisions, one had office kitchen supplies (e.g. coffee) and the other sold office supplies. The kitchen supplies business was more attractive to acquirers than the office supplies side, so Johnson decided to separate the divisions and sell them separately.
In this episode, you’ll discover how to:
- Carve out part of your business for sale.
- Decide when launching a new product or division will increase your valuation (or detract from it).
- Promote a happier workforce.
- Protect yourself in a negotiation with an acquirer.
- Evaluate the pros and cons between a share and asset sale.
- Argue an acquirer should use your pre-pandemic numbers as the basis of their valuation.
This episode was brought to you by Work Better Now. Work Better Now has helped match hundreds of businesses with talented virtual assistants. Reach more clients, expand your influence and be more productive – not busy. Work Better Now is currently offering Built to Sell listeners and readers $150 off per month for three months, just by mentioning Built to Sell.
Show Notes & Links
Heartcount – measure your employee pulse
CIM: Confidential Information Memorandum
Definition: A Confidential Information Memorandum (CIM) is a document used in mergers and acquisitions to convey important information about a business that’s for sale including its operations, financial statements, management team, and other data to a prospective buyer.
About Our Guest
As a lifelong Entrepreneur and Student Of Happiness, Calvin Johnson has always loved the challenge of creating businesses that infuse a little fun, creativity, and WOW.
In 2021, Johnson sold his latest company to a Fortune 500 after achieving lifetime sales of $290m and over 1.3 million orders.
Johnson’s two current projects are:
“The Culture Kitchen”, WorkplaceHappiness.com – a consulting business focused on Workplace Happiness research, speaking, coaching, and workshops.
CLUBNEED.org – an adventure travel company catering to EO and YPO members, their families, and forum groups, offering amazing curated trips with a giving component. We also consult with companies on how to create impactful purpose-driven giving programs within their organizations.
Connect with Calvin: