Selling Your Side Hustle
July 29, 2022 |
About this episode
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Jeremy Nagel started his entrepreneurial career teaching clients how to get the most out of Zoho, a popular CRM platform. Nagel began cultivating a small following on YouTube by sharing his advice for Zoho enthusiasts.
Given his status in their ecosystem, Zoho approached Nagel about creating an SMS plug-in for their application to allow users to text their clients while using Zoho. Nagel developed the application while keeping his day job. Despite only dedicating one or two days a week to its growth, the feature quickly became one of the top five applications in the Zoho marketplace.
Two years later, Nagel received a LinkedIn message from the head of corporate development at MessageMedia with a lucrative exit offer he could not refuse. In this episode, you’ll learn how to:
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- Identify new business opportunities inside pre-existing software platforms.
- Motivate your employees using an unorthodox technique.
- Build trust with your customers using YouTube.
- An innovative way to communicate with your advisor in the heat of a negotiation.
- Avoid making one of the most common mistakes owners make during due diligence.
- Leverage five-star customer reviews in a negotiation to sell your business.
Check out our article on How To Get The Attention Of An Acquirer.
And How You Treat New Customers Impacts Your Company’s Value too.
Show Notes & Links
The Art of Selling Your Business
Definitions
Sellers Discretionary Earnings (SDE): Seller’s Discretionary Earnings, or “SDE”, is a financial metric used to determine the true historical benefit to the owner of a business.
Calculating SDE is a way to standardize or “normalize” a company’s earnings so it can be more accurately compared to the earnings of other companies and the industry as a whole.
Source: https://bit.ly/3zDMWs8
Due-Diligence: Due diligence is an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.
Source: https://bit.ly/3yYDfo5
Employer Net Promoter Score (eNPS): Employer Net Promoter Score, or eNPS, is a scoring system designed to help employers measure employee satisfaction and loyalty within their organizations. It is based on the Net Promoter Score system from Bain & Company, Satmetrix Systems, Inc., and Fred Reichheld, that gauges customer loyalty.
Source: https://bit.ly/3OIS4j3
About Our Guest
Jeremy Nagel
Jeremy is an indie hacker who focuses on building SaaS plugins for Zoho Marketplace. After selling his SMS plugin, Smooth Messenger, to MessageMedia, he continues working on making SMS on Zoho even easier to use. On the side, he is working on a work-life balance app for freelancers and entrepreneurs: https://focusbear.io
