Three years ago, two-time Channel Journeys podcast guest, Jay McBain, wrote that the channel is aging and that 40 percent of channel owners plan on retiring by 2024. That comment lit a spark for today’s podcast guest, Linda Rose. Following Jay’s prediction, Linda embarked on a new mission and wrote the book “Get Acquired for Millions”. Linda knows something about being acquired, having built and sold 3 IT companies. Now she consults with IT solution providers who are looking to be acquired. Linda and I talk about her journey from accountant to successful business owner. And she shares 5 tips for other business owners interested in going down the M&A path.
KEY TAKEAWAYS
Linda has researched over 100 tips, traps, and tactics for being acquired for her book. We were able to hit 5 before running out of time:
- Start running GAAP-based financials to prepare your books
- Distinguish yourself with a unique value proposition
- Celebrate your wins by announcing them to the world through PR and social media
- Build a rock-sold management team and prepare your successors
- Develop your own IP, including your “secret sauce” that makes your company successful
SHARE THIS
What's happening now is they're coming down market in terms of revenue. So it's very easy for a private equity firm to pick up a $5 million organization. @klindarose Share on X If you were to leave your company very quickly after a sale, could your management team take over and maintain the sales after your departure? @klindarose Share on X Define your value proposition, but it needs to be front and center on your website and all over your brochures or whatever downloadable things you have. @klindarose Share on XLINKS & RESOURCES
- Find Linda on LinkedIn and Twitter
- Sample the first chapter of Get Acquired for Millions
- Find out what your company is worth with the Value Maximizer Assessment (the code is PC2020)
- Read Cold Beer and Crocodiles: A Bicycle Journey into Australia
- And if you into hiking, check out Wild: From Lost to Found on the Pacific Crest Trail
