Finally, small-medium business owners can create real wealth
After over five years of building my own startups, and the past three helping hundreds of other entrepreneurs, I’m starting to get a good view on where the big opportunities sit in this space.
One of the coolest things we’ve stumbled across while building Pitchblak was realising small-medium business owners have a huge opportunity to spin-off a scalable asset (like an app, online business, or hardware product).
Business owners get stuck trading time for money and it’s a hamster wheel with no ‘out’ in sight.
Even when you do exit (sell) a services business, the multiples are hardly exciting for all the blood, sweat, and tears that go into building them.
Strangely, very few business owners have realised the massive advantages they have over typical entrepreneurs:
– Valuable insights from their experience in the industry
– Connections for distribution and potential investment
– Existing cash flow to cover the costs of creating the asset
– Knowledge of how to run and grow a team
These things are super helpful in building a scalable company that can sell at a multiple much more lucrative than any typical services business will sell for.
Instant messaging startup Slack (formerly ‘Tiny Spec’) started as a failed gaming company who were frustrated about internal communications.
And project management tech startup Basecamp started as 37Signals; a web development agency annoyed at how sh*tty project management software was.
Both these companies are worth billions now! Yes, with a “B”. 💰💰
We’ve recently started working with a few business owners to help them create a more valuable asset, and it’s been really rewarding and enjoyable work for myself and the team.
If you own/manage a business and you either (a) have an idea already, or (b) have experience in your field, and you understand the parts that are ‘broken’, we’d love to chat… ☺️