In 1986 David Phelps started a dental practice called the Gentle Dental. 20 years later, for a number of reasons, he decided to sell. But before six months had passed, he was in litigation to reacquire the business, and 24 months after that, he sold the business again…this time, successfully. “Boomerang” Sale? This was a […]
If Millennials have added anything to the conversation around hiring these days, it’s the idea that cultural fit matters. You shouldn’t simply hire people who are competent and willing to do the work, but also who are excited to be with you and fit well into your established company culture. What is a cultural fit? […]
“A contract isn’t in place for when things go right. It’s to account for the possibility that things might go wrong.” You can google the title of this article and you’ll find hundreds, perhaps thousands, of articles, many of which take a position as to why you should “never” have a partner or “always” have […]
We review books you should read in preparation to buy or sell a business, as well as how to build a company to sell one day. About the Authors Jason and David created a company which was originally called 37Signals and was later rebranded as BaseCamp. It’s a project management tool which was also the […]
In 2012 Jason Swenk sold his digital advertising agency, Solar Velocity. Solar velocity helped with websites and web applications for brands like Aflac, Coke, and LegalZoom. At the time, he took 50% of the sale in upfront cash and took the remainder in a 50% earnout. What is an earnout? An earnout is another way […]
The concept of “Extreme Ownership” was coined by former Navy SEAL Jocko Willink. Jocko spent 20 years in the SEALs and retired in 2010 after serving as the commander of a SEAL Task Unit in Iraq. Origin of the term During an operation in which he was the commander, there was a friendly fire incident which […]
There are many reasons why you might not be able to sell your business, but today we want to focus on three in particular. Think of them as the ghosts of business past, present, and future. 1.The Ghost of Business Past: You have a lopsided company Now, many businesses started with “that one client” which […]
Business Sale Book Club is a new series here at the APEX blog. We review books you should read in preparation to buy or sell a business, as well as how to build a company to sell one day. The first one in our series comes from the man who popularized the term, “Work on […]
Case Studies is a new series here at the APEX blog. We study business exits and break down a few key points for you to keep in mind. This month’s selection comes from the sale of Appletree Answers. How it started John Ratliff started Appletree Answers in 1995 in a spare bedroom in his house, […]
What’s my business worth? This is a question any owner might ask himself when he/she is ready to sell. You close your eyes and think of all those long hours, sleepless nights, times you personally covered payroll (or didn’t take a paycheck), and struggle to put a number on what any of those sacrifices […]
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