A Small Giant Makes A Great Exit
Tyler Tringas was adamant on establishing his SaaS business without the help of external capital.
He founded Storemapper—a business that provides small businesses with a platform to showcase the location of their products in store for curious consumers—in 2012.
By 2017, Storemapper was seeing $50,000 in monthly recurring revenue. Ready to build his next business, Tringas made moves to sell the company, including moving himself away from day-to-day business operations, learning critical questions to ask potential buyers and maintaining radical transparency to accelerate the sale.
In this episode, you’ll learn:
- How to know when it’s time to sell
- The importance of asynchronous communication and how to integrate it into your hiring processes
- How Tringas used radical transparency to attract buyers and accelerate the sale process
- The subjectivity of Seller’s Discretionary Earnings (SDE) and how it can impact your value
- Defining strategic and financial buyers for your company