They Got Acquired - Audience = leverage 🏋️‍♀️

Dec. 2, 2022
​Read on web​

When Joe Pulizzi started blogging about online content best practices in 2007, he was his company’s brand.

As his blog posts evolved into the popular Content Marketing Institute, he wrote all its content, moderated all the webinar trainings, and was a star attraction at its live event. "It was the Joe Show," he said.

But when Pulizzi set his sights on selling the business, he knew he’d have to evolve how it operated until his personal brand was no longer key to its success.

He elevated team members to present webinars and phased out his speaking and writing. Those operational changes were key to his $15 million exit in 2016.

Many founders start a business that revolves around their personality, skills and talents. It’s an easy way to launch, and can work well as long as you’re at the helm. But when it’s time to sell, your focus on personal branding can become a serious liability.

If you're considering selling a company that’s built around your personal brand, here are a few steps you might take:

• Start now. Don’t wait until you’re ready to sell to make these changes. The sooner you transition the company away from your own personal brand, the better.
• Revisit your company name. Is your company named after you? Rebranding is no small task, especially if you’ve been in business for years.
• Tone down photos and mentions of you. Even if your company isn’t named after you, move away from plastering your likeness all over the company’s website. Showing who’s behind the company can garner trust with your customers, but make sure everything isn’t about or from you and you alone.
• Build your team. Transfer your workload to other employees, so customers see more of them and less of you. Have your team document how they do their work, so another leader can guide them years from now.

Our story offers more tips, plus examples of founders who successfully navigated this transition:

​How to sell a business based on your personal brand: These 3 sellers did it​

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Audience as leverage 🏋️‍♀️

Richard Patey sold his newsletter and podcast, Website Investing Publication, for 6 figures in July 2020 — just seven months after launch.

He attributed its quick growth to leveraging an existing audience. Patey been building that audience of people keen to invest in online businesses for nearly a decade by the time he launched the newsletter.

Here’s how his prior ventures — and lessons learned — laid the groundwork for the growth and sale of this company:

🔍 How this content entrepreneur leveraged each audience to grow the next business​

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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