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Peter Shankman started Help A Reporter Out (HARO) to connect experts with journalists. Within three years, Shankman was generating $1.5MM from selling ads on his email blasts. That’s when hi largest advertiser approached him to buy HARO.
Peter Shankman started Help A Reporter Out (HARO) to connect experts with journalists who needed people to quote for stories. HARO sent a simple email three times a day to subscribers and because every email had the potential to be a reporter from a media outlet like The New York Times, the email open rates were close to 80%. Most days Shankman worked from his sofa with two employees helping him remotely.
Within three years, Shankman was generating $1.5MM from selling simple text ads on his email blasts. That’s when Shankman’s largest advertiser approached him to buy HARO. In the episode you’ll learn:
HARO was acquired by its largest advertiser, a software company called Vocus. A big customer has an obvious strategic reason to buy your business and turn a cost center on their P&L into an asset on their balance sheet. Customers are one of eight strategic buyers you’ll evaluate when working through The Short List Builder, Module 11 in The Value Builder System™. Complete Module 1 right now by completing the Value Builder questionnaire.
Click to Tweet: Ep. 80 of Built To Sell Radio, From Start-Up To Exit In Three Years.
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.