Learn how Ben Landers achieved a clean, 8-figure exit from Blue Corona, avoiding earn-outs in the competitive service business space.
About this Episode
Ben Landers built Blue Corona, an 8-figure digital marketing agency focused on home service businesses, into a data-driven powerhouse. When it came time to sell, Ben achieved something extraordinary: a clean exit with no earn-outs, a rare feat in the service business world where earn-outs are practically the norm.
Service businesses often face lengthy earn-outs that tie founders to their company post-sale, creating uncertainty and limiting their ability to move on. In this Exit Story episode of Built to Sell Radio, you’ll discover how Ben structured his deal to achieve financial independence and a complete break from the business he built.
You’ll also learn how to:
Negotiate equity with a mentor who doubles as a business partner.
Protect yourself from lowball offers by search funds.
Manage the complexities of having a silent partner during critical business decisions.
Avoid the common traps of earn-outs, even in service businesses.
Handle the emotional highs and lows of selling your life’s work.
Ben’s candid story highlights the importance of controlling your exit strategy and negotiating terms that align with your personal and financial goals.
Tune in to learn how Ben defied industry norms to walk away with a deal that gave him the freedom to decide his next move.
About Our Guest
Ben Landers
Ben Landers is a seasoned entrepreneur and the former CEO of Blue Corona, a data-driven digital marketing agency specializing in helping home service companies grow and thrive. Under his leadership, Blue Corona evolved from an analytics-focused startup to a full-service marketing powerhouse, ultimately serving a range of clients, including industry leaders like Len the Plumber.
Ben successfully scaled the business and navigated its eventual acquisition, achieving his goal of financial independence while maintaining a commitment to integrity and innovation.
With firsthand experience in scaling, exiting, and the challenges of partnership dynamics, Ben is passionate about sharing his journey and insights to inspire and guide other entrepreneurs.
Definitions
Due-Diligence: This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.
Earn-out: This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.
Roll Over Investor: In the context of selling a business, a rollover investor refers to an individual or entity that rolls some of their proceeds from the sale with the buyer. This strategy allows the seller to defer capital gains taxes and potentially leverage their expertise or resources in a new venture.
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