They Got Acquired - 7x annual revenue

July 18, 2023
​Read on web​

When we talk to founders who sold, they often say that if they could build their business all over again...

They would focus more heavily on metrics that matter to the buyer.

Yet here’s the Catch-22:

Most founders don’t learn which metrics matter to a buyer until they go through the sale process.

That’s why second- and third-time founders have such an advantage. They capitalize on those learnings for their next runs.

Cori Sue Morris, who co-founded Bitches Who Brunch, a content company she and a co-founder ran for nearly a decade before selling for 6 figures, said the sale helped her learn “how to ruthlessly prioritize the business metrics that matter – such as revenue, growth and customer loyalty.”

Another metric that tends to matter to buyers? Profit.

Some ask for net income, others focus on SDE (seller’s discretionary earnings), but what they’re looking at is how much is available for them to take home after the business pays all its expenses.

Ironically, the metrics that will matter to buyers for your business are typically the same metrics that make it a better business for you to run.

If you increase profit to make your company more attractive to buyers, you’ll also give yourself more money to take home along the way.

Here’s our full story on Bitches Who Brunch:

​How 2 colleagues created a brunch review platform with over 1M monthly hits​

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Behind the Business (of TGA)

This summer has been mostly about summering and mothering, with little pockets of work here and there.

But this week is an exception: I'm heading to a hotel for three days on my own for a work sprint.

I like to call these getaways "workcations." My main purpose is to work, but because the trip is a solo getaway, it's also a bit of a vacation. (If you're a parent, you know what I'm talking about.) I'll do yoga every day, eat food I did not cook, and hopefully find some focus and flow on what needs to get done for the business.

In an ideal world, I'd use this workcation primarily for strategic thinking, but because my work time has been so minimal over the last six weeks, I expect to spend much of it on execution as well.

Here's what I love about workcations: They don't have to be in some exotic location. All I need is an uncluttered hotel room with a desk, and easy access to healthy food and exercise. Rather than spend precious hours traveling, I'm going to a hotel just 45 minutes away, near my favorite yoga studio.

A few years ago, I had dreams of creating a workcation space in our West Virginia town; I called it Retreat & Create. Covid squashed that idea, though I hope to bring it back in a few years. For now, I'm laser-focused on They Got Acquired and reaching more founders who want to learn from us while building a sellable business.

Would love to hear what works for you: Do you take workcations? How do you approach work sprints?

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​