About this episode
Rachel Elsts Downey is the founder of Share Your Genius, a podcast production company that has been helping businesses increase their brand visibility since 2017. Over the years, Share Your Genius has grown into a successful business, generating $500,000 in revenue by 2021.
That’s when Downey was approached by one of her clients with an offer to acquire her business. The client wanted to hire Downey and saw the acquisition of Share Your Genius as the best way to recruit her. After some deliberation, Downey accepted the offer and agreed to be “acquihired”. This deal valued Share Your Genius in the mid-six figures and provided Downey with cash for her business, a secure salary, bonuses, and some equity in the acquiring company.
In this episode, Downey shares her experience of going through an acquihire. You’ll discover how to:
- Evaluate the pros and cons of an acquihire.
- Utilize a little-known goal-setting technique.
- Balance the demands of running a business with the responsibilities of parenting.
- Let go of an underperforming employee without upsetting your customers.
- Distinguish between serious burnout and normal fatigue.
- Avoid overlooking critical details during due diligence.
Check out the written by John Warrillow on How To Get Unruly Employees To Follow Your SOPs.
Curious about what your company might be worth? Start with a Built to Sell Valuation.
Show Notes & Links
Today’s episode is brought to you by Scribe Media.
Scribe Media is a hybrid book publishing company that specializes in helping founders, entrepreneurs, and executives write and publish their books. You can’t meet with every person you want to reach, but with Scribe’s help, your book can. We create and execute a plan to get your message to your ideal reader. Not a writer? No problem. Scribe Media’s experts can write for you—in your voice. When it’s time to sell your business, buyers will know who you are, what you stand for, and the legacy they’ll inherit from the company you’ve built. Visit ScribeMedia.com to book your free consultation.
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.
Acqui-hiring: “Acqui-hire” transactions, which are particularly prevalent in the context of start-up technology-related M&A transactions in the U.S., focus on acquiring a company primarily to obtain its employees and their skills, in addition to other possible assets.
About Our Guest
Rachel Elsts Downey
Rachel Elsts Downey is a mom of three and the founder of Share Your Genius. The company is a podcast production company working with the largest B2B brands.