Built to Sell Radio
Ep 453 The Small Business Acquirer: Inside the Mind of Kristi Herold
Aug 2, 2024
Kristi Herold, founder of Jam, a Toronto-based company that connects people through recreational activities, shares her insights on small business acquisitions. She dives into the evolution of her company from local leagues to national expansion, revealing strategic mergers and pandemic adaptations. Kristi discusses the emotional journey of balancing ambition with comfort, and offers nuanced strategies for navigating acquisitions in the sports sector. She emphasizes the importance of valuing relationships and understanding business valuations for successful negotiations.
54:54
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Quick takeaways
- Many entrepreneurs mistakenly believe they will sell to large corporations, but smaller, lesser-known businesses are often the actual buyers.
- Kristi Herold's shift from a stagnant lifestyle business to a strategic acquirer exemplifies how evolving business models can create new growth opportunities.
Deep dives
Understanding Small Business Acquisitions
The podcast discusses the common misconception that most business owners will sell to large corporations or private equity groups. In reality, many entrepreneurs end up selling to smaller businesses within their sector, often ones that are not widely known outside the industry. This emphasizes the importance of understanding what smaller business buyers prioritize during negotiations. Learning from the experiences of an individual who has successfully acquired multiple companies can provide valuable insights into making one's business more attractive to potential buyers.
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