why did I sell my first business so I
got a great question for my youtube
viewers love you guys burn notice who
wrote in to say hey Evan I got a
question I’m just wondering why you sold
your company you said in your last video
you were making good money and then you
decided to sell it I’m just wondering
why couldn’t you’ve evolved it and grew
with your company thanks so this is a
great story and a great question and the
quick background I had a biotech
software company I didn’t start it but I
joined it I became an owner and the
chief operating officer and I turned
down big jobs high paying jobs to do it
and my job was the marketing the
business development basically making a
business grow and I turned it from
making three hundred dollars a month
where I thought I was failing thought of
quitting said I was going to quit and
turned it into a successful company with
brand name clients international
presence and then sold it and that was
all in three years so it’s pretty fast
why did I sell it two main reasons okay
the first was market opportunity so if
you look at most markets you’ll find
that they expand and they contract they
go like this they go in waves of
typically eight to fifteen year cycles
and you’ll find that industries that
have had big companies a few big
companies they start to stagnate those
industry stagnant and then a lot of
little inventors and entrepreneurs come
along and they make it exciting again
and then slowly it expands lots of
companies and then people start
acquiring the big companies say hey we
need to acquire these guys we need to
make this part of our business and the
market starts to contract again you get
back to a few big players and it expands
and then look so this happens a lot you
look at any industry over the years this
is what happens and we’re starting to
happen in my industry the big companies
were coming in scooping up smaller
companies some companies raised massive
venture capitals one comfort that raised
eight hundred million dollars to go out
and just start acquiring companies so it
was an exciting time and we had to make
a decision to either sell now where we
can get a great price for our company
because there’s so much interest or
have to wait another eight to 15 years
before this cycle happens again and then
be the only independent player so all of
our competitors were getting scooped up
and we’re being you know brought into
massive corporations and we would be the
only little guy left so that was one
decision one reason the bigger reason
though because the first one could be
overcome right we if we love the
business enough to last another 8 15
years or for as long as we lived we
could have kept going we could have
overcome the obstacle being the only
small player the main reason was my
partners that so three of us in the
business my partners who started the
company really wanted to get to the US
they wanted to live in the u.s. it was a
personal decision they they live an
alternate lifestyle compared to most
people they believe in unschooling not
home schooling unschooling they have you
know they were living a macrobiotic
lifestyle and diet and did a whole bunch
of different things I was cool just an
alternate way of living convert the most
people and you know here in Toronto
there aren’t too many people who live
that kind of lifestyle especially back
then so they wanted to get the
California because there’s more people
who are doing that stuff more people to
connect with and and learn from and
share experiences with it and you know
for their kids to grow up with and so it
was a highly personal decision and and
how do you tell somebody no I don’t want
you to go live your dream you can’t do
that you know think about me you know
you can’t do that and so the deal was
finding a company that would acquire the
business but then also bring on my two
partners on a contract and sponsor them
to stay in the United States and
specifically in California and so we
made that happen I stayed here nothing
against the US but I love Canada and I
had lots of opportunities here to stick
with and I’m grateful because it started
me on my website and got means the
venture capital and
led to the believe movement and all that
and so is it was a good path to go down
but anyway that’s a story I don’t think
I’ve ever told it before so that’s why I
sold you know that’s why we sold the
business and thank you for letting me
share that belief for everybody watching
like a video thumbs up below let me know
what you think leave a comment ask the
question below i’ll make a video
response and click on my face to
subscribe to the channel thank you so
much i’ll see you soon
got a great question for my youtube
viewers love you guys burn notice who
wrote in to say hey Evan I got a
question I’m just wondering why you sold
your company you said in your last video
you were making good money and then you
decided to sell it I’m just wondering
why couldn’t you’ve evolved it and grew
with your company thanks so this is a
great story and a great question and the
quick background I had a biotech
software company I didn’t start it but I
joined it I became an owner and the
chief operating officer and I turned
down big jobs high paying jobs to do it
and my job was the marketing the
business development basically making a
business grow and I turned it from
making three hundred dollars a month
where I thought I was failing thought of
quitting said I was going to quit and
turned it into a successful company with
brand name clients international
presence and then sold it and that was
all in three years so it’s pretty fast
why did I sell it two main reasons okay
the first was market opportunity so if
you look at most markets you’ll find
that they expand and they contract they
go like this they go in waves of
typically eight to fifteen year cycles
and you’ll find that industries that
have had big companies a few big
companies they start to stagnate those
industry stagnant and then a lot of
little inventors and entrepreneurs come
along and they make it exciting again
and then slowly it expands lots of
companies and then people start
acquiring the big companies say hey we
need to acquire these guys we need to
make this part of our business and the
market starts to contract again you get
back to a few big players and it expands
and then look so this happens a lot you
look at any industry over the years this
is what happens and we’re starting to
happen in my industry the big companies
were coming in scooping up smaller
companies some companies raised massive
venture capitals one comfort that raised
eight hundred million dollars to go out
and just start acquiring companies so it
was an exciting time and we had to make
a decision to either sell now where we
can get a great price for our company
because there’s so much interest or
have to wait another eight to 15 years
before this cycle happens again and then
be the only independent player so all of
our competitors were getting scooped up
and we’re being you know brought into
massive corporations and we would be the
only little guy left so that was one
decision one reason the bigger reason
though because the first one could be
overcome right we if we love the
business enough to last another 8 15
years or for as long as we lived we
could have kept going we could have
overcome the obstacle being the only
small player the main reason was my
partners that so three of us in the
business my partners who started the
company really wanted to get to the US
they wanted to live in the u.s. it was a
personal decision they they live an
alternate lifestyle compared to most
people they believe in unschooling not
home schooling unschooling they have you
know they were living a macrobiotic
lifestyle and diet and did a whole bunch
of different things I was cool just an
alternate way of living convert the most
people and you know here in Toronto
there aren’t too many people who live
that kind of lifestyle especially back
then so they wanted to get the
California because there’s more people
who are doing that stuff more people to
connect with and and learn from and
share experiences with it and you know
for their kids to grow up with and so it
was a highly personal decision and and
how do you tell somebody no I don’t want
you to go live your dream you can’t do
that you know think about me you know
you can’t do that and so the deal was
finding a company that would acquire the
business but then also bring on my two
partners on a contract and sponsor them
to stay in the United States and
specifically in California and so we
made that happen I stayed here nothing
against the US but I love Canada and I
had lots of opportunities here to stick
with and I’m grateful because it started
me on my website and got means the
venture capital and
led to the believe movement and all that
and so is it was a good path to go down
but anyway that’s a story I don’t think
I’ve ever told it before so that’s why I
sold you know that’s why we sold the
business and thank you for letting me
share that belief for everybody watching
like a video thumbs up below let me know
what you think leave a comment ask the
question below i’ll make a video
response and click on my face to
subscribe to the channel thank you so
much i’ll see you soon
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