“Saud Juman co-founded PolicyMedical having started the business in his mother’s basement.  He shares how he grew the business by creating raving fans as customers. He also changed his model from transactional to recurring revenue,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business.  “When he sold his business he was able to pit two buyers against each other to move the price from 4X revenue to 7.2X revenue.”

Saud Juman built PolicyMedical, a company enabling hospitals to document their procedures and policies, into a software company growing 100% a year when he sold it for 7.2 times revenue. It was a remarkable exit for a business Juman started in his mother’s basement.

There is lots to love about Juman and his exit, including:

  • Why two mentors are better than one.
  • The secret to building trust and commitment from your mentor.
  • How to shift from a transaction to a recurring revenue model.
  • How to turn clients into fans and something Juman calls “The Daily 5.”
  • Three things every founder should prepare before putting a business on the market.
  • How to use reps & warranties insurance to get more of your money upfront.
  • The three deal breakers Juman used to evaluate offers.
  • Why a “rolling pipeline” is essential to a successful exit.

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