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James Garvey grew Objective Loyalty from a standing start in 2005 to $2.5 million in EBITDA. When he and his partner decided to sell they were able to quickly double the value when they switched sell tactics.
James Garvey and his partner grew Objective Loyalty from a standing start in 2005 to $2.5 million in EBITDA before they decided to sell their email marketing platform.
Garvey’s investment banker spent six months shopping the deal without a single offer. Then Garvey decided to switch tactics and approach the strategic partners who already knew the company well.
Garvey got an offer and was able to double it quickly through some shrewd negotiation.
How to find your strategic buyer
In Garvey’s case, he struck out looking for a buyer for over six months and it wasn’t until he turned to his strategic partners that he found one. If you’re keen to figure out who your strategic buyers would be, sign up for a Value Builder Engagement and we’ll build a short list of buyers with you in Module 11 of our 12-step process for creating a more valuable business. Get started for free by getting your Value Builder Score.
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At Built to Sell we’re all about shifting the balance of power from the buyer to the seller. If you support our mission, please write a review on iTunes—and if you have any comments or questions you can find us on Twitter and Facebook. Tune in every Wednesday for another episode of #BuiltToSell Radio with John Warrillow.
James Garvey is the CEO of Self Lender, a consumer FinTech startup that helps people build credit and savings. Prior to founding Self Lender, Garvey was a software engineer by trade, who has spent his career building and operating online consumer marketing companies. Garvey holds a B.S. in mathematics from University of California, Davis.