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Have you ever stayed in a fancy hotel and wondered how much they pay Aveda for those little bottles of shampoo? Turns out, there is a company called Pacific Direct that acts as a middleman between the hotel chain and the company supplying the shampoo.
U.K.-based Pacific Direct was earning £3.3 million when founder Lara Morgan decided to sell. She got multiple offers for her company and ultimately sold it to a private equity group for £20 million. During our interview, Morgan shared her wisdom on how to sell your company, including:
Have you picked your number?
Morgan grew up in an environment where she always felt she had less money than her friends, so she decided one day she would like to have £10 million because that meant her kids would never feel the same embarrassment she felt growing up.
Picking her number galvanized Morgan and she credits having a specific wealth goal as a key ingredient to building a valuable business.
Have you picked your number? If not, that is something we’ll do together during Module 12 of The Value Builder SystemTM – you can get started for free by getting your Value Builder Score.