Smaller Niche Leads to Bigger Business
“Perry Rosenbloom started his web development company called Brighter Vision in 2011. He sold his company in 2020 for $17.5 million,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “Over time he acquired thousands of customers by creating a strong recurring revenue model. He also did an excellent job of creating leaders within his company which helped him walk away from his business.”
In 2011 Perry Rosenbloom started the web development company Brighter Vision. After a few years of jumping from project to project, Rosenbloom had a breakthrough: Instead of doing web design for everyone, he decided to focus on creating websites exclusively for therapists.
His decision to niche down worked, and revenue soared.
By 2020 Rosenbloom had thousands of customers and millions in sales, which was when Evercommerce made an offer to acquire Brighter Vision for $17.5 million. In this episode, you’ll learn how to:
- Niche down to a specific target segment.
- Implement a recurring revenue model for your service business.
- Avoid hiring the wrong employees.
- Develop leaders from within your company.
- Utilize an effective negotiation tactic to increase the sale price.