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18 NO B.S. Guide to Selling Your Company for Top DollarCHAPTER 2 / MY STORY OF SELLING MY COMPANYthem and understanding how they repositioned, repackaged, and prepared a business to take to market. I sold the next company I built from scratch for millions in 2004. Then I participated in its sale four more times via what I call %u201cequity without equity.%u201dIt%u2019s important to understand that future, not yet existent money is easier to get than present, existing money. By getting IXWXUH%u0003 PRQH\\%u000f%u0003 \\RX%u0003 FDQ%u0003 H%u037fHFWLYHO\\%u0003 LQ%u00c1DWH%u0003 WKH%u0003 WRWDO%u0003 SULFH%u0003 \\RX%u0003are getting for your company and even share in unpredictable upside. I%u2019ll use my personal experience as the example, then further explain the strategy.In order for my own example to make sense to you, as I UHIHUHQFH%u0003 LW%u0003 WKURXJKRXW%u0003 WKLV%u0003 ERRN%u000f%u0003 ,%u00b7P%u0003 JRLQJ%u0003 WR%u0003 KDYH%u0003 WR%u0003 EULH%u00c1\\%u0003describe it. It%u2019s not a simple, normal business like a group of restaurants or shoe stores. My company, originally %u201cKennedy Inner Circle,%u201d sometimes %u201cNo B.S. Inner Circle,%u201d then %u201cGKIC%u201d (for: Glazer-Kennedy Inner Circle), served small business owners with a collection of information products like monthly newsletters and courses, seminars and conferences, tele-coaching, mastermind groups, and vetted vendors. The relationship with its customers was structured as %u201cmembership,%u201d with automatically charged PRQWKO\\%u0003GXHV%u000f%u0003DW%u0003WKUHH%u0003GL%u037fHUHQW%u0003SULFH%u0003DQG%u0003EHQH%u00c0W%u0003OHYHOV%u0011%u00037KLV%u0003JDYH%u0003the business multiple income streams, but as base it had recurring revenue, a very attractive feature to many buyers of companies. The current version of this, No B.S. Inner Circle/Magnetic Marketing, can be seen at MagneticMarketing.com, and there is a )UHH%u0003*LIW%u00032%u037fHU%u0003IURP%u0003LW%u0003RQ%u0003SDJH%u0003%u0014%u0018%u0016%u0011%u0003,W%u0003LV%u0003RZQHG%u0003E\\%u0003&OLFN)XQQHOV%u000f%u0003D%u0003large marketing software company. In between my creating it and now, it was sold %u00c0YH%u0003times. The important request I%u2019ll make is that you not get too distracted by the exact nature of my company and think my experiences with it do not apply to yours. That would be Preview Copy | 52