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Nikonomics - The Economics of Small Business
54 - Rebuilding a $8M Business After Buying It Back with Cathryn Lavery
Sep 6, 2024
Cathryn Lavery, founder of BestSelf Co. and former architect, shares her inspiring journey of transforming a personal project into a multi-million-dollar e-commerce business. She reveals how managing her ADHD fueled her entrepreneurial spirit and the importance of analog tools in a digital age. Cathryn discusses the rollercoaster of selling her company to private equity and buying it back, offering insights on customer loyalty and team dynamics. She also explores how AI can streamline operations and enhance business efficiency.
38:24
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Quick takeaways
- Cathryn Lavery's journey from architect to e-commerce entrepreneur illustrates how personal challenges like ADHD can inspire successful business innovations.
- Her experience buying back her business from private equity highlights the importance of understanding operational dynamics and prioritizing profitability over aggressive growth.
Deep dives
Navigating the Journey of Selling and Buying Back a Business
Selling a business to a private equity firm can be a complicated process, as one entrepreneur discovered after selling her company at peak prices in 2022. When the new owners struggled to execute their vision due to various challenges, they eventually reached out with an opportunity to buy back the company at a significant discount. The entrepreneur was able to repurchase the company for only the inventory cost, highlighting the unpredictability of business ownership and the risks associated with selling to firms with untested strategies. This experience emphasizes the importance of understanding the operational dynamics of a business before making significant financial decisions.
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Listen to the best highlights from the podcasts you love and dive into the full episode