Kenan Hopkins spent 7 years paying what he calls “the idiot tax”, until he learned the more efficient way to run a business.
To read a transcript of this episode, click here.
Kenan Hopkins founded his delivery food service company, Blue Ridge To Go, with no real management skills, no idea how to run a business, a lump of personal credit card debt, and the worst branding ever – all his words.
Though off to a rough start, he was able to transform his messy company into a new brand – Valet Gourmet – and by 2016 was approaching $4 million in revenue with the lowest delivery driver turnover across the industry.
When he was ready to sell, find out how Hopkins’ talent for industry forecasting, along with a quick text message to an industry friend led to a successful deal.
In this episode, you’ll learn:
- How to avoid paying the ‘idiot tax’ for years
- The one reason your employee turnover rate is likely high
- How your brand can impact the value of your company
- Why a seven-figure exit can be a lonely place
Hopkins received the price he wanted by confidently being able to show his interested buyer how much Valet Gourmet was expected to grow in the next year. How to quantify your Growth Potential is explored in Module 4 of The Value Builder System™. Get started for free right now by getting your score.
About Kenan Hopkins
Kenan Hopkins is an entrepreneur, coach, speaker,
and author with a penchant for unique ideas, ridiculously good customer service
and super silly company culture. He founded Valet Gourmet, an on-demand food
delivery startup, at the age of 23 with $10k in personal credit card debt.
After growing to a staff of nearly 100 with over 125 strategic restaurant
partners, the company was acquired in early 2016.
Hopkins speaks regularly on company culture and customer service. He serves on the board of Mama Maisha, an Asheville, NC based nonprofit focused on maternal health in sub Saharan Africa.
Hopkins also plays fiddle in an outlaw country band, loves spending time with his family, mountain bikes all over the globe, and frequently goes on really long backpacking trips.
Do You Know An Entrepreneur With A Story To Tell?
We’re constantly on the prowl for interesting stories from owners who have sold their businesses. We look for owners who have sold a business that was generating $1 million or more in revenue and who are willing to share their story candidly with our community. Forbes ranked Built to Sell Radio one of their top 10 podcasts for entrepreneurs and we have more than 400,000 downloads, so your story will get shared with a great community of like-minded owners. Nominate yourself or someone you know today.
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.
One of the challenges of running a self-funded business is there is never enough money to invest in developing amazing products.
Strategic acquirers will pay more for your company—here’s how to make your business irresistible to them.
What’s Your Business Worth?
Take the 13-minute survey and get your Value Builder Score
The Value Builder Score was inspired by the book, Built to Sell. It was created to help business owners like you build more valuable companies. Join more than 30,000 entrepreneurs by getting your free Value Builder Score, and find out how valuable your company really is.
It’s free and 100% confidential