They Got Acquired - What buyers want

August 12, 2022
​Read on web​

Here's a hard truth...

Too many of us barrel into selling our business without thinking hard about what comes next.

(I can almost see all the second- and third-time entrepreneurs nodding your heads in agreement.)
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We stay laser-focused on the deal terms and the lawyers and the due diligence, in service of the financial windfall on the other side.

Yet when the contract's signed and the funds transferred, a whole load of other things are transferred too.

Entrepreneur Jodie Cook, who sold a social media agency in 2021, told us that if we really want to support entrepreneurs who sell, we should help you better prepare for the emotional side of the transition.
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Here's her take...

​What no one tells you about selling your business 😰

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From UX to super agency

Gareth Dunlop bootstrapped his UX (user experience) design agency, Fathom, to about €1 million in revenue — roughly US$1.22 million. He had a staff of 12 full-time employees and seven freelancers.

Then, when he was just few months away from his 50th birthday, he decided he wanted to spend more time with family.

He sold to Low&Behold as part of a larger merger strategy that brought together five U.K. and Ireland marketing and design agencies to form a “super agency.”

More on how the sale came together 👇

​This UX design agency was acquired as part of a deal merging 5 marketing companies​

The more turnkey your site, the more it's worth

I love this quote from a founder we're featuring in an upcoming story:

"Buyers of websites are looking for an investment, not a job," said Shane Sams, who along with his wife, Jocelyn Sams, grew membership site Elementary Librarian, which they sold in 2017.

"The more turnkey your site ... the more it will be worth,” he said.

“Nobody cares how much money you make with your online business. They care how much money your business makes without you there to babysit it."

So if you're building a business that's fit to sell, ask yourself:

How much do I have to babysit this business?

Which parts don't yet run without me?

How can I implement systems and automation and a great team, so my babysitting is minimal?

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​
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Our mission is to redefine startup success by showcasing companies that sell for $100K-$50M. Learn more about us or follow us on Twitter.

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