Etienne Borgeat co-founded PCO innovation, an IT consulting firm, in 2000. By 2016, the firm had 600 full-time employees and offices around the world, which is when Accenture knocked on their door.
With more than $30 billion in revenue, Accenture was so impressed with what Borgeat and his team had created that they offer him more than one times revenue for a consulting firm with virtually no hard assets. In this episode, you’ll learn:
- How to navigate your earn-out to maximize the odds you’ll see the money
- A surprising tactic for starting a negotiation with a buyer
- The secret way some buyers evaluate your business before approaching you
- The surprising trigger that caused Borgeat to want to sell (it may make you think about selling too)
It’s relatively easy to sell a company for its hard assets—just have an auction and let the bottom feeders bid for your gear. The secret to getting a premium valuation for your business is getting a buyer to pay more than the value of your hard assets. You want them paying for something accountants call “good will,” which is what your business is worth beyond just the value of your hard assets. And that’s where The Value Builder System™ comes in—we have a 12-step system for improving the value of any company beyond its hard assets. To get started, complete Module 1 for free by getting your Value Builder Score.
About Etienne Borgeat
Etienne Borgeat, cofounder of PCO Innovation and successful entrepreneur, has had a profound effect on the PLM industry over the last 15 years. After earning a degree in mechanical engineering from the École Polytechnique in 1995, he started his career as an engineering consultant and rapidly rose to a management position in an IT consulting company.
Since it was founded in 2000, PCO Innovation has experienced consistent and responsible growth. From the outset, Étienne has been able to surround himself with employees who share his business values: enjoyable work, accountability, and mutual respect. In 2007, he purchased PCO Technologies, a French company operating in the European PLM market. In 2009, Étienne was awarded the “Québec Young Entrepreneur of the Year” award by ARISTA as he led PCO Innovation to rank 7th in its celebrated “Profit 100” classification. In 2010, he came in first in Ernst & Young’s “Grand Prix de l’entrepreneur” for Quebec. Under Etienne’s management, PCO Innovation also won Deloitte Canada’s Best Managed Companies in 2012 and 2013.
Competitive, determined, and ambitious, when it comes to business, Étienne Borgeat understands the big picture. This has given him the ability to analyse obstacles and develop strategies for overcoming them.
In 2013, PCO Innovation, then recognized as the largest international independent service group specialized in Product Lifecycle Management (PLM) with 600 employees, was acquired by Accenture. Etienne successfully managed the integration in one of the world’s leading organizations providing management consulting, technology and outsourcing services, with over 320,000 employees.
Etienne looks forward for new challenges while being investor, advisor or on the board of several successful high tech start-ups, restaurants, movie production and award wining branding and website creative studios accompanying entrepreneurs in their journey.
Etienne Borgeat may also be know from another realm – his success on the racetrack. For the past 20 years, he has demonstrated the same fierce competitive spirit in competition that has made him a business success. He has been a front-runner in the Ultra 94 Porsche GT3 Cup Challenge Canada by Michelin with 5 wins and runner-up in the 2012 championship. He has been a Canadian Touring Car Champion and contender on every track where he competes in North America.
Do You Know An Entrepreneur With A Story To Tell?
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At Built to Sell we’re all about shifting the balance of power from the buyer to the seller. If you support our mission, please write a review on iTunes—and if you have any comments or questions you can find us on Twitter and Facebook. Tune in every Wednesday for another episode of #BuiltToSell Radio with John Warrillow.
Think your company’s growth is stalling? You may be surprised to find out why.
Susan Hrib started an oil and gas industry consulting firm called Signum back in 1994. Recently Hrib received a call from an industry contact who said they would be interested in buying Signum. After over 20 years in the same company, Hrib was ready to move on.
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