28 Dec Built to Sell Radio: Why Policy Medical Got 7.2 x 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.
Juman garnered 37 written offers for PolicyMedical. He played bidders off each other, jacking up his value in their eyes from around four times revenue to eventually agreeing to 7.2 times revenue. Like Juman, creating a competitive marketplace for your business is one of the essential steps in punching above your weight in a negotiation to sell. Get the entire game plan, The Art of Selling Your Business, set to be released on January 12th. Order it today and earn some gifts.