Jordan van Schyndel grew his service business to more than 30 employees without having anyone quit.
He credits his unique culture for the loyalty of his team.
Ultimately it was that team that caught the attention of Spiria, which offered to acquire van Schyndel’s business.
In this episode, you’ll discover how to:
Build a winning culture.
Structure a deal with future upside.
Calculate your minimum number.
Structure an earnout.
Tell your employees you’re thinking of selling.
Avoid attaching your identity to your business.
Listen Now
More About Jordan van Schyndel
Jordan is a technically adept entrepreneur with a history of successful ventures in the technology sector. Having started coding at the age of 11, Jordan honed his skills as a software developer before founding DevBBQ Inc., a company specializing in digital transformation services and development.
Under Jordan’s leadership, DevBBQ grew profitably for six years until its acquisition by Spiria, a transition that preserved its highly regarded culture and team. Jordan currently holds CEO and CTO roles in emerging companies within the technology, AI, and data sectors, continuing his trajectory of innovation and leadership.
Definitions
Due-Diligence:
This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.
Earn-out:
This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.
Letter of Intent (LOI):
This document outlines the basic terms and conditions of a deal before a formal agreement is drawn up. It serves as a mutual commitment between the buyer and the seller to move forward with the transaction on the agreed-upon terms.
Discover the strategies from Built to Sell that will not only grow your business but set you up for a lucrative exit.
Learn more about our newly launched self-paced online course The Built to Sell Blueprint.