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Imaging Path was a successful IT services contractor that peaked at more than $16 million in sales. However, when Corey Tansom’s bank pulled its financing Tansom decided his best option was to sell – but who would buy a money-losing company?
Imaging Path founder and CEO Corey Tansom kept a close eye on his business until, a few years prior to its sale, Tansom went through a divorce that caused him to spend a lot of time away from the office. Tansom was distracted, costs ballooned and margins shrank. Imaging Path started losing about $500,000 a year.
Tansom was able to sell his money–losing business for more than $10 million because he had figured out his “Rembrandt in the attic” – the one part of his business that would be irresistible to someone else. Figuring out if you have a hidden asset that will make your company more valuable than just a multiple of EBITDA is something we’ll do together after you complete your Value Builder Score, which you can do now here – for free.