<description>&lt;div class="OutlineElement Ltr SCXW123906523 BCX0"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "TextRun SCXW123906523 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;When Sharon Gillenwater built Boardroom Insiders, she was doing something nobody else wanted to &lt;/span&gt;&lt;span class= "NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW123906523 BCX0"&gt;do:&lt;/span&gt;&lt;span class="NormalTextRun SCXW123906523 BCX0"&gt; manually researching the personal work styles, business initiatives, and habits of Fortune 500 executives so that enterprise sales teams could finally get a meeting with the C-suite. It was hard, painstaking work — and that was exactly the point.&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW123906523 BCX0"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "TextRun SCXW123906523 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;After more than a decade of bootstrapping, consulting on the side to fund payroll, and raising just $275,000 from three people she knew personally, Sharon sold Boardroom Insiders to London-based public company &lt;/span&gt;&lt;span class= "NormalTextRun SpellingErrorV2Themed SCXW123906523 BCX0"&gt;EuroMoney&lt;/span&gt;&lt;span class="NormalTextRun SCXW123906523 BCX0"&gt; for $25 million — all cash at close, no earn-out. In this episode, you discover how to build and sell a business where customers love you so &lt;/span&gt;&lt;span class= "NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW123906523 BCX0"&gt;much&lt;/span&gt;&lt;span class="NormalTextRun SCXW123906523 BCX0"&gt; they follow you from company to company.&lt;/span&gt;&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW123906523 BCX0"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "TextRun SCXW123906523 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;You'll&lt;/span&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt; learn:&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="1" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "TextRun SCXW123906523 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;Why a cold call from a PE firm offering $48 million was &lt;/span&gt;&lt;span class= "NormalTextRun AdvancedProofingIssueV2Themed SCXW123906523 BCX0"&gt;actually the&lt;/span&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt; worst thing that could have happened to Sharon — and what she did instead&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="2" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;The one overheard side conversation that changed her negotiation posture entirely and helped her push from a $17–20M offer to $25M&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="3" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;Why Sharon insisted on all cash at close — and why her angel investor told her a lower number in cash beats a higher number with strings attached&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="4" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;What convertible notes look like after a decade — and why her investors converted their notes just six months before the sale&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="5" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;Why Sharon cried on her birthday, the day she was quietly walked out of the company she had spent 13 years building&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="6" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;How she watched the acquirer run Boardroom Insiders into the ground, tried to buy it back — and then decided to rebuild from scratch anyway&lt;/span&gt;&lt;span class= "EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW123906523 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW123906523 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW123906523 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="7" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW123906523 BCX0"&gt;&lt;span class= "NormalTextRun SCXW123906523 BCX0"&gt;The land-and-expand growth strategy that took Boardroom Insiders from zero to $5 million ARR without ever cracking the demand generation problem&lt;/span&gt;&lt;span class="EOP Selected SCXW123906523 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt;</description>

Built to Sell Radio

John Warrillow

Ep 537 Why this $5M Business Sold for $25M

MAR 13, 202666 MIN
Built to Sell Radio

Ep 537 Why this $5M Business Sold for $25M

MAR 13, 202666 MIN

Description

When Sharon Gillenwater built Boardroom Insiders, she was doing something nobody else wanted to do: manually researching the personal work styles, business initiatives, and habits of Fortune 500 executives so that enterprise sales teams could finally get a meeting with the C-suite. It was hard, painstaking work — and that was exactly the point. After more than a decade of bootstrapping, consulting on the side to fund payroll, and raising just $275,000 from three people she knew personally, Sharon sold Boardroom Insiders to London-based public company EuroMoney for $25 million — all cash at close, no earn-out. In this episode, you discover how to build and sell a business where customers love you so much they follow you from company to company. You'll learn: Why a cold call from a PE firm offering $48 million was actually the worst thing that could have happened to Sharon — and what she did instead The one overheard side conversation that changed her negotiation posture entirely and helped her push from a $17–20M offer to $25M Why Sharon insisted on all cash at close — and why her angel investor told her a lower number in cash beats a higher number with strings attached What convertible notes look like after a decade — and why her investors converted their notes just six months before the sale Why Sharon cried on her birthday, the day she was quietly walked out of the company she had spent 13 years building How she watched the acquirer run Boardroom Insiders into the ground, tried to buy it back — and then decided to rebuild from scratch anyway The land-and-expand growth strategy that took Boardroom Insiders from zero to $5 million ARR without ever cracking the demand generation problem