Is Niching Down Always Better?
Niching down | “Nick Santora started a company called Curricula, a cyber security awareness training program. He grew it to $2M in revenue and sold it for $22M based on recurring revenue,” shares Sam Thompson, a Minneapolis business broker and the president of M&A firm Transitions In Business. “In this episode he shares how to choose the right acquirer for your company and how to expand beyond your niche.”
In 2015 Nick Santora founded Curricula, a cyber security awareness training program that helps companies defend themselves against hackers. Santora created fun, cartoon training videos in contrast to the dull content that existed at the time. | Niching down
Companies happily embraced Santora’s approach. By 2021 he had grown Curricula to just over $2 million in annual recurring revenue when he accepted an acquisition offer from the cyber security giant Huntress for $22 million. In this episode, you’ll learn how to:
- Know when it’s time to expand beyond your niche.
- Utilize the “free chicken” conversion method.
- Implement a freemium model that converts.
- Avoid a typical blunder made by founders when raising money.
- Choose the right acquirer for your company.
- Create competitive tension between acquirers to attract a premium offer.