Built to Sell Radio Ep 471 Exit Story: Kaelon Egan on Selling AccelaSchool to PowerSchool, Targeting Strategic Buyers, and Avoiding Earn-Outs
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Dec 6, 2024 Kaelon Egan, founder of AccelaSchool, shares his journey of successfully selling his company to PowerSchool, a leader in K-12 education technology. He discusses how to position a business for strategic acquisition and the importance of understanding buyer needs. Egan also reflects on navigating the complexities of the education sector's sales landscape and the value of advisory networks. He emphasizes avoiding earn-outs and the significance of clear sale structures, offering insights into leveraging AI opportunities in a post-pandemic market.
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Digitizing School Enrollment Anecdote
- Kaelon created eCollect Forms to digitize the paper-intensive enrollment process in K-12 schools.
- His experience working in school districts shaped the product to target this specific pain point effectively.
Lead Sales Early On Advice
- Founders should personally lead sales in small startups to build direct relationships and understand customer pain.
- Use a bottoms-up sales approach by selling to those experiencing the pain for organic advocacy up the decision chain.
Build Advisory Network Advice
- Bootstrap your business if possible but build a trusted advisory network for well-rounded advice.
- An advisory board or investor group offers strategic guidance and access to expertise critical for growth.