19 Dec Built to Sell Radio: How This Service Business Sold for Around 4-Times Revenue
In 2006 Kelby Zorgdrager started DevelopIntelligence, an outsourced training provider that helps programmers develop new skills and adapt to ever-changing technologies.
The business snowballed as Zorgdrager onboarded most Fortune 500 giants in his space. However, Zorgdrager had a problem. The company was too dependent on him.
To ensure the business could succeed without him, Zorgdrager implemented a four-step system to replace himself as the rainmaker of his company.
The strategy worked. By 2020 Zorgdrager had grown the business to $12.1 million in revenue, which piqued the interest of some acquirers. A year later, Zorgdrager signed an acquisition offer from Pluralsight in a deal valued at $48.9 million. In this episode, you’ll learn how to:
- Sell to a Fortune 500 giant.
- Establish trust with a team of independent contractors.
- Develop a high-performing sales team using an unconventional tactic.
- Replace yourself as the rainmaker of your company.
- Utilize your M&A attorney to get more money for your business.