About this episode
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:
- the remarkable relationship between ADHD and entrepreneurship
- the surprising upside of selling instead of scaling your business
- the truth about who is most likely to buy your business
- the best way to find a strategic buyer for your company
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.
About Our Guest
The New York Times has called him “a public relations all star who knows everything about new media and then some,” while Investor’s Business Daily has labeled him “crazy, but effective.” Peter Shankman is a spectacular example of what happens when you merge the power of pure creativity with Attention Deficit Hyperactivity Disorder (ADHD) and a dose of adventure, and make it work to your advantage. Listed as number four in Meeting and Conventions Magazine’s Top 25 C Suite speakers to hear in 2016, Peter is an author, entrepreneur and corportate keynote speaker, and “worldwide connector,” recognized worldwide for radically new ways of thinking about customer service, social media, PR, marketing, advertising, and ADHD.