Playing Chicken
March 16, 2016 |
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Jeff Hoffman sold his business to American Express in a nine-figure exit. After the Letter of Intent (LOI) was signed, American Express proposed paying part of the acquisition in an earn-out, and you’ll never guess what Hoffman did next.
During the interview, Hoffman shares the surprising question he uses in an interview to assess whether someone is going to be an A player on his team. Getting employees to care as much as you do is about engagement, which we tackle in module seven of The Value Builder System™. The first step is getting your Value Builder Score. Get your Score now.
Our guest
Jeff Hoffman’s accomplishments cover an astonishing range of fields; as well as being a successful entrepreneur, proven CEO, internationally renowned motivational speaker and published author, Hoffman has produced concert tours, Hollywood films and a 2015 Grammy-winning jazz album, working with stars like Elton John, Britney Spears and NSYNC. Hoffman has been the founder of multiple startups and has served as a senior executive in many capacities, including being part of a number of well-known companies such as Priceline.com. uBid.com, CTI and ColorJar. He currently serves on the boards of companies on six continents.Related to this topic
Part of building to sell is knowing who might buy you, so you invest in valuable assets. Take Northern Lights as an example: after selling, their stores were closed because the acquirer wanted their wholesale distribution channel – not the stores.
How much would someone have to pay you to buy your business today? That’s the question Kris Jones was asked when billionaire Michael Rubin approached him about selling. Jones’ answer to Rubin’s question may surprise you.
How Cigar City Brewing Got Oskar Blues To Triple Their Acquisition Offer
Joey Redner started Cigar City Brewing in Tampa Bay in 2009 with a vision of being the first quality craft beer in Tampa at a time when craft beer was gaining popularity across the country.
Wisdom From The Sale Of Six Businesses
Laura Gisborne has sold six companies, including The Art of Wine, a tasting room with a subscription-based wine club division. With $1MM in annual revenue, it was still a small business, when Gisborne reasoned it was the perfect time to sell.
Salsa Maker Gets Contract With Whole Foods On Her Way To A Surprising Exit
Despite having distribution at Whole Foods, Kroger, and Safeway, salsa-maker Julie Nirvelli found herself on the brink of bankruptcy. She sent a last-ditch email to four potential acquirers – and you won’t believe what happened next.
Selling Your Company vs. Selling Your Product
Natalie Susi got her product Bare Organic Mixers, low-cal cocktail mixers into over 300 bars and restaurants in southern California before she sold. To maximize her take, Susi had to decide whether she was selling her company or her product.