In 1999, Peter Kelly was at Stanford business school when he and two partners spotted an opportunity to remake an industry – used cars.
Mark Deutschmann started Village Real Estate in 1996 and by 2018 he had grown it to 350 salespeople. Then six of his agents decided to compete with him. Anyone would be upset, but you’ll be surprised at what Deutschmann did next.
Glenn Grant always assumed he would sell his company for a multiple of EBITDA… until private equity firms started talking multiples of revenue. He decided to learn more.
After falling ill, Nation Leagues owner, David Heimlich, needed to sell his business – but to his surprise, it was worthless. He learned the hard way why you can’t be the center of the business.