In 2017, Jay McBain wrote about the fact that the channel is aging and, by 2024, 40% of channel owners plan to be retired. Linda Rose recently spoke with Rob Spee on the Channel Journeys podcast about how Jay’s assessment helped ignite a new purpose within her, eventually leading to her writing her book, Get Acquired for Millions: A Roadmap for Technology Service Providers to Maximize Company Value.
Having built and sold three IT companies, Linda now consults with other IT solution providers who are looking to be acquired. Her and Rob discuss her journey from CPA to successful tech CEO, they dive into insights from her recent COVID-19 M&A survey, and she shares useful information for business owners who are interested in the M&A path.
Linda was able to share 5 of her 100 tips, traps and tactics for the successful sale of your business.
- Start running GAAP-based financials to prepare your books [19:30]
- Distinguish yourself with a unique value proposition [20:40] [23:16}
- Celebrate your wins by announcing them to the world through PR and social media [21:33]
- Build a rock-sold management team and prepare your successors (find out why Linda’s company implemented required 1-month sabbaticals for long-time team members) [24:30]
- Develop your own IP, including your “secret sauce” that makes your company successful [26:49]
Interested in the other 95? They’re included in her book, Get Acquired for Millions, available on Amazon and Audible.
LINKS & RESOURCES
- Find Linda on LinkedIn and Twitter
- Sample the first chapter of Get Acquired for Millions
- Find out what your worth is with the Value Maximizer Assessment (use the code PC2020)
- Read Cold Beer and Crocodiles: A Bicycle Journey into Australia
- And if you into hiking, check out Wild: From Lost to Found on the Pacific Crest Trail