 In 2015, Michia Rohrssen co-founded a SaaS business called Prodigy to help car dealerships sell online. He  grew the company to $3.3M in annual revenue when he faced a difficult decision.     Rohrssen thought he could sell Prodigy for around 4-6 times revenue, but after paying off his investors, there wouldn’t be much left over for the founders. That’s when he decided to make a risky pivot to his business model. The change meant a short-term drop in Prodigy’s revenue, while also making it more attractive to strategic acquirers. Ultimately Rohrssen and his co-founder sold the smaller version of his company for a staggering $110 million, or around 65 times revenue.    

Ep 404 How Michia Rohrssen Sold Prodigy For 65x Revenue

Built to Sell Radio is a weekly podcast for business owners interested in selling a business.  Each week, we ask an entrepreneur who has recently sold a business why they decided to sell their business, what they did right and what mistakes they made through the process of exiting their business.  Built to Sell Radio is the ultimate insider's guide to approaching the most important financial transaction of your life.

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In this week's episode of Built to Sell Radio, we are joined by William Ury, the co-founder of the Harvard Program on Negotiation and the International Negotiation Network with former President Jimmy Carter. Drawing from his extensive experience in high-stakes diplomatic negotiations, Ury shares invaluable strategies to help you punch above your weight in a negotiation to sell your business. From understanding buyer motivations to mastering negotiation processes, you will gain actionable insights from one of the world's foremost negotiation experts.

Ep 439 Selling Your Business? Why Nice Gets You More - with William Ury, Co-Founder of the Harvard Negotiation Program

 Brian Dean has been called an SEO genius for his search engine optimization courses, so it probably shouldn’t have been a surprise when Semrush, a publicly traded SEO software company, came knocking.  What was surprising was that Semrush paid $5 million for Brian’s one-employee company.

Ep 438 Brian Dean, "SEO Genius", on Getting $5 Million for Backlinko, a One Employee Company

 This week we’re featuring an interview with John Rood, who built Next Step, a test prep business that helped students prepare for the medical school admissions test (MCAT). John Rood built Next Step to almost $10 million in revenue, with EBITDA margins ranging from 20–40% before selling to New Harbour Group, a private equity business doing a roll-up of test prep companies.    Although it was a financial windfall for John, his exit left him feeling empty inside. John drifted and ended up having a difficult time processing his newfound life, which led him to consider if other founders struggled with life post-exit. He began interviewing other entrepreneurs who had sold and is now putting the finishing touches on a book called Beyond the Exit, which will come out later this year.

Ep 437 Escaping the Service Business Trap with John Rood

 This week we’re bringing you an extraordinary story of resilience and determination as we delve into the lives of Payam and Frank Zamani. Starting their American dream with a mere $75, the brothers embarked on a venture that led to the founding of Autoweb, a groundbreaking lead generation service in the auto industry.     Autoweb’s journey to success reached its zenith with an IPO that valued the company at an astonishing $1.2 billion, with shares peaking at $50. However, the narrative took a dramatic turn as investor demand for a new CEO led to a steep decline, plummeting the share price to a mere 18 cents.     Through the turbulence, Payam Zamani’s story unfolds as one of unwavering spirit and the relentless pursuit of a vision despite formidable challenges.     Tune in to hear how Payam navigated the highs and the heartbreaking lows of Autoweb’s saga as he offers a treasure trove of lessons for capitalists.

Ep 436 Turning Down a Quarter Billion Dollar Offer From State Farm with Payam Zamani

 Ned MacPherson started helping clients optimize their websites back in 2016. Demand for Ned’s time quickly outpaced supply, so he started building a team. Within seven years, Ned had 70 employees, more than $2 million a year in EBITDA, and multiple acquisition offers.

Ep 404 How Michia Rohrssen Sold Prodigy For 65x Revenue

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