Jim Remsik’s Adorable Exit Was Just Right
Jim Remsik founded Adorable, a business that develops custom software for entrepreneurs and enterprises alike, in 2014. By 2016, the company had grown to $3 million and 23 employees. On the outside everything looked great, but Adorable and Remsik were about to hit a rough patch.
Despite Adorable’s rapid growth, Remsik had lost his business partner. Within a year, Adorable had slid to $1.8 million revenue and nearly half their workforce had been let go. And then Jim had a health scare. These combined factors prompted him to reconsider his responsibilities to his company and employees– and to seek a fast exit.
In this episode, you’ll learn:
- The top two trigger events that lead business owners to sell their company
- How to value your company when a co-founder wants out
- The importance of building a management team as your company grows
- How to identify strategic buyers who will support your company’s weaknesses while leveraging your strengths