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Adam Glickman started hawking “Jumbo Brand Condoms” from his dorm room in 1989 under the moniker “a safe jumbo is a happy jumbo.” His brand grew and upon graduation, he started America’s first retail condom shop in New York City.
Adam Glickman started hawking “Jumbo Brand Condoms” from his Tuft’s dorm room in 1989 under the moniker “a safe jumbo is a happy jumbo.” His brand grew across campus and, upon graduation, Glickman started America’s first retail condom shop in New York City. Based on the success of the Manhattan store, Glickman expanded to Los Angeles and in 1996 became an e-commerce pioneer.
By 2007, Glick had a multi-million dollar business with a well known brand and a successful e-commerce site when a series of unrelated events lead him into a deep funk. The FDA banned 50% of Glickman’s product line based on a technicality. Then, an accident left Glickman unable to walk for months. Wallowing in bed, Glickman started to abuse the pain medication he had been given to cope.
Glickman pulled himself out of his downward spiral with the help of Entrepreneur’s Organization (EO), a group of like-minded entrepreneurs where Glickman felt at home. Glickman got healthy and decided he wanted to sell his business. In this episode, you’ll learn:
• Why Glickman’s first attempted sale failed.
• The importance of understanding an acquirer’s motivation to buy your business.
• A check list of things you need to know about an acquirer before you start negotiating the sale of your business.
• The most important thing you need to share with a buyer.
• The definition of a personal inventory and how to measure yours.
Glickman’s story is one of entrepreneurial gumption leading to financial success, followed by a spiritual bankruptcy leading to a new awakening.
Looking at Your Business Through the Buyer’s Eyes
Glickman’s first attempt to sell his business failed because he didn’t understand the motivation of the acquirers he was negotiating with. Looking at your business through the lens of an acquirer is something we do in Module 11 of The Value Builder System™. Start Module 1 now by completing your Value Builder questionnaire now.