Would you rather have one million dollars in the bank today or a chance to have ten million a decade from now? It’s a philosophical question that comes down to the time value of money and your tolerance for risk.
After starting and exiting BabyCenter.com, Mark Selcow built Merced Systems into a profitable business after year one. Ten years later he sold Merced for $192 million, equating to over 3 times top line revenue.
In this episode of Built to Sell Radio you’re going to hear from Erik Huberman, who started Swag-of-the-month, a T-shirt business he quickly scaled from start-up to sale in 18 months.
Huberman considers the exit a success, but during negotiations there was one question the acquirer asked that Huberman wishes he had never answered
Rick Day built Daycom Systems into a $26 million dollar business over a 17-year run. Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier.
Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier in a business where the technology was changing fast. Motivated by the fear of becoming obsolete, Day decided to assemble an advisory board to help him prepare the business to sell. The board helped him to see his business through the eyes of a potential buyer and exposed a number of things that Day needed to fix.