Courtney Reum left Goldman Sachs in 2007 to start a Vodka business. He built VEEV up to more than $10 million in annual sales before he sold the company for more than seven times revenue.
Reum has gone on to start and invest in a number of businesses through his M13 venture firm, and in this episode, you learn:
- Why Reum believes time is the new money
- Reum’s secrets for avoiding dilution when raising money
- The danger of “so what” sales
- The biggest mistake he sees founders make
- Why every company should be built to sell
- How to “pre-court” your strategic acquirers
- Why you should always sell with lots of “runway” left
- About getting “crammed down” and why that’s a bad thing
- How venture capital firms rig deals in their favour using preferred shares
This one is jam-packed with knowledge bombs. I think you’ll like it.
Reum focused on “sprinkling a trail of bread crumbs” that led the potential acquirer back to VEEV without saying his business was for sale. That’s only possible when you know who the strategic buyers for your business are, which is something you’ll discover in Module 11 of The Value Builder System™. Get started now by getting your Value Builder score.
About Courtney Reum
Courtney Reum is the cofounder of M13, a disruptive venture capital firm that has invested in some of the most dominant startups, such as, Lyft, Snap, Warby Parker, ClassPass, Slack and 100’s of others. He’s been recognized as Goldman Sachs’ 100 Most Intriguing Entrepreneurs 4 years in a row and his entrepreneurial venture VEEV earned him a place on Inc’s 250 fastest growing companies. You may recognize Courtney from his TV show, Hatched or from Richard Branson’s book, Screw Business as Usual.
Email Courtney Reum: firstname.lastname@example.org
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, 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 100,000 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.
Are more sales and profits really the key to a more valuable company?
The market for digital assistants is booming. Apple has Siri, Amazon has Alexa and Google has Google Assistant. Now, thanks to Charles Jolley, Facebook has Ozlo, a digital assistant designed to outsmart Siri and Alexa at their own game.
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.
Get Your Score Now It’s free and 100% confidential.