Up in Smoke
“Lorenzo de Plano co-founded Solace Technologies in 2015 and in a few years sold for $15M,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “This episode is packed with tips including how to evaluate a fair buy-out price for your partner, increase revenue during due diligence and emotionally cope with getting re-traded.”
In 2015, Lorenzo de Plano co-founded Solace Technologies, one of the first vape manufacturers in the United States. The goal of the business was to create a discreet vape pen that customers could use as an alternative to smoking cigarettes.
The business boomed to revenue of more than one million dollars a month, but a looming threat had de Plano eyeing an exit. So, when a $15 million offer came in, he bit. In this episode, you’ll learn how to:
- Bootstrap to a seven-figure business without raising outside capital.
- Evaluate a fair buy-out price for your partner.
- Identify the raw material for a recurring revenue stream inside your business.
- Innovate in a new and volatile marketplace.
- Increase revenue during the due-diligence process.
- Emotionally cope with getting re-traded.