Connie Fenyo went all in, risking everything to purchase Dye & Durham. And when buyers came knocking, her gamble paid off.
To read a transcript of this episode, click here.
Connie Fenyo started out as an employee at Dye & Durham, a company that makes software for lawyers. She rose to Executive Vice President when she learned her boss was looking to sell the 200-employee firm.
Fenyo decided to make a bid.
She scraped together all the money she could find, borrowed (in return for a personal guarantee) everything her bank would lend her and got the former owner to finance some of the acquisition price.
That’s when she found herself –deeply in debt–as the proud new owner of Dye & Durham. Fenyo had gambled her entire life savings and committed that if she could ever work her way out from under the mountain of debt, she would sell Dye & Durham. And that’s exactly what she did.
In this episode, you’ll learn:
- How Fenyo financed her purchase at tremendous personal risk
- Fenyo’s strategy for prioritizing debt payments while growing her company
- Why selling a business can be its own full-time job
- Fenyo’s single most important piece of advice when selling your business
Fenyo’s sale began with her ‘magic number’; the price she’d dreamed of getting for Dye & Durham from the day she purchased it. Figuring out this number is part of ‘The Envelope Test’, Module 12 of The Value Builder System™. Start for free right now by getting your Value Builder Score.
About Connie Fenyo
Connie Fenyo is currently the President & CEO of Weber-Fenyo Holdings Inc., an investment company, is the Author of the upcoming book “Leadership Lessons from a CEO to her Children”, a book for aspiring young leaders on how to get ahead in life and acts as a consultant in the legal software industry.
Fenyo specialized in the legal support information services industry for 17 years in her role as President & owner of Dye & Durham Corporation, with 200+ employees in BC. While leading Dye & Durham, she consistently made Business in Vancouver’s TOP 10 Biggest BC businesses owned by Women in their Top 100 Lists. She received numerous awards including the Platinum Award for Inclusion Excellence in Business and the owner of the “Best Large Business” in Vancouver. She has acted as a mentor for the BC Forum for Women Entrepreneurs, was elected as President of the Chamber of Commerce, has organized several community events and has been invited by the Mayor to provide her insights on the New West budget task force and economic development and trade coalition.
Fenyo currently sits on several boards, participates in several charities, develops real estate and is nearing completion of a 2 year financial investing course. She is a marathon runner, yoga practitioner, lover of nature and proud mother of 3 children.
Get in touch with Fenyo on LinkedIn.
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