Why Hitting $10MM In Annual Revenue Matters

Why Hitting $10MM In Annual Revenue Matters

Jill Nelson built Ruby Receptionists, a call answering service, into an $11MM business when she met with an investment banker who told her the technology she had built to answer calls could be worth a mint.

It was the first step in a process which resulted in Nelson selling a majority interest in Ruby Receptionists for $38.8MM. Nelson, who continues to hold a minority interest in the company she founded, was able to deliver a check to her original backer that represented a whopping 25,000% return on investment.

In this episode, you’ll learn:

  • How Nelson got 20 letters of interest.
  • The conversion rate from letters of interest to letters of intent.
  • How narrowing her service offering broadened her appeal to acquirers.
  • How to use debt to grow your business.
  • Why hitting $10MM in annual revenue matters.
  • The surprising impact culture can have on your company’s value.
  • A counterintuitive way to tell employees you’re thinking of selling.
  • How a good cop / bad cop negotiating posture can improve your deal terms.

Listen now.