Tyler Tringas was adamant on establishing his SaaS business without the help of external capital.
He founded Storemapper—a business that provides small businesses with a platform to showcase the location of their products in store for curious consumers—in 2012.
By 2017, Storemapper was seeing $50,000 in monthly recurring revenue. Ready to build his next business, Tringas made moves to sell the company, including moving himself away from day-to-day business operations, learning critical questions to ask potential buyers and maintaining radical transparency to accelerate the sale.
In this episode, you’ll learn:
- How to know when it’s time to sell
- The importance of asynchronous communication and how to integrate it into your hiring processes
- How Tringas used radical transparency to attract buyers and accelerate the sale process
- The subjectivity of Seller’s Discretionary Earnings (SDE) and how it can impact your value
- Defining strategic and financial buyers for your company
Do you want to improve the value of your business?
If you’re interested in improving the value of your business, take our questionnaire or contact Colonial Business Brokerage today at (443) 982-7332.