Menu
July 13, 2016 |
Subscribe:
Many service company founders yearn for a product business. Some even fund its development through the service business. This week we discuss selling the service side of your business. That’s exactly what Talia Mashiach, the founder of Eved, did.
If you run a service, my guess is you’ve dreamt of owning a product business instead.
Service businesses are such a mess – demanding clients, scope creep, and more often than not, slow growth.
Which leads many service company founders yearning for a product. They tinker with a product on the side, often sucking cash and other resources out of the service business to fund the development of a product, which can compromise the health of the service business.
But there is an alternative: why not sell the service side of your business to have the cash and the freedom to properly invest in your product idea?
That’s exactly what Talia Mashiach, the founder of Eved, did.
If you own a service business and wonder if it’s sellable, I’d encourage you to take 13 minutes and complete the Value Builder questionnaire.
Talia Mashiach is the CEO, founder and product architect of Eved, an event commerce company that offers the only spend-management solution for meetings and events. Eved’s web-based platform automates how large corporations request, order and pay for event services, delivering increased transparency, significant efficiencies in the billing and reconciliation processes, and improving compliance and control.
Before Zoom, when you wanted to meet with a group of people remotely, you used a teleconferencing service. If you lived in Canada during the early 2000s, you probably used one of Frank Cianciulli’s lines.
How to negotiate an extra $1M in the sale of your business overnight
After building his business for twenty years, Stuart Crane sold it for $43M, which includes an extra million he got by using this one simple technique.
David Hauser’s Grasshopper is a masterclass in building a business to sell. With no venture funding and fewer than 40 staff, Grasshopper was acquired 12 years after its founding for $165 million in cash and $8.6 in Citrix stock.
When It Makes Sense To Accept Equity Instead Of Cash
Matt Darby was burnt out and wanted to sell the business – even if it wasn’t for cash.
Built to Sell vs. Planning to Sell
David Darmanin co-founded Hotjar, a software company that helps website developers and owners understand how their users interact with the sites they build.
Darmanin and his partners bootstrapped Hotjar to around $40 million in Annual Recurring Revenue before selling it in 2021.
How to Create a Bidding War Plus Three Other Lessons
This week’s episode of Built to Sell Radio is the Intel edition. We focus on four recent guests and highlight the strategies that made their companies built to sell.
Eddie Whittingham started a company called The Defense Works in 2016. His idea was to provide companies with information on how to avoid getting hacked. Whittingham created a series of animated video clips explaining cyber security best practices and offered his content on a subscription model to companies.
The Story Behind Jason Flick's $100 Million Sale to WarnerMedia
These days, you’re just as likely to watch a football game on a mobile phone as you are on an old-school TV. The technology that enables you to watch your favorite show on whatever device you have handy was made possible by Jason Flick. Flick co-founded a company called You.i TV with a vision to “own the glass.” He struck deals to provide the user interface, which enabled content to be viewed across devices with the likes of the NFL, NBA, and just about anyone else who produces original content.
How Mainspring Went From a Valuation of 1 to 5 Times Revenue
In 2014, Hank Goddard got an offer of one times revenue to buy his software company, Mainspring Healthcare Solutions.
Staffing-industry veteran Will Gilbert co-founded Socium – a U.K.-based company supplying workers to companies that needed them – in early 2019. Within six months, Socium was generating more than 7 million U.K. Pounds in revenue.
The Surprising Story Behind PetSmart’s Acquisition of AllPaws
Back in 2013, on the heels of building a successful online dating application, Darrell Lerner decided to apply his experience in the dating industry to pet adoption. He built a website and mobile app called AllPaws which allows users to find a pet based on a variety of criteria important to people considering adopting an animal.
The Second Most Important Thing to Negotiate When Selling Your Business
When you get an acquisition offer, your employment contract can be a key element. Just ask Eric Sit. Sit’s company was acquired by Detection and six months later, Detection was acquired. Sit lived to regret the employment contract he signed.
