MAU 31 | Selling A Business

 

The American dream of starting building and selling a business can be elusive for many entrepreneurs. In this episode, host Domenic Rinaldi talks to Jay Myers, a successful entrepreneur, award-winning author, and Founder and former CEO of Interactive Solutions (ISI). Here, he shares his journey towards realizing his dreams through a solid business strategy, where he incorporates some ways of gaining repeat clients. Having run a company to success, Jay shares to us the process of letting go of his business and moving on. As part of his strategy, he elaborates on the importance of recurring revenue in maintaining clean financials and wisely recommends having good advisors. He believes that anyone selling a business should ensure something to go to after pulling out from the business to prevent emotional remorse.

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Realizing Your Dream And Delegating To More Business Dreamers With Jay Myers

The American dream of starting building and selling a business can be elusive for many entrepreneurs. Anyone who’s run a business knows how hard it is to consistently grow a business and reap the monetary rewards of a sale. My guest, Jay Myers, has realized that dream. He was the Founder and CEO of Interactive Solutions, a video conferencing and audiovisual technology firm with 55 employees headquartered in Memphis, Tennessee. He started Interactive from scratch in 1996 and grew it to $20 million with a nationwide client base that included names such as FedEx, AutoZone, International Paper, University of Tennessee and Fort Knox. ISI, as Interactive was known, it was sold in 2018 to the largest AV integration firm in the world, AVI-SPL.

Jay, welcome to the show. I’m so excited to have you share your story with us.

I appreciate it, Domenic. Thanks for having me.

Jay, why don’t you tell the readers a little bit about you, your background and the company and then we’ll get into your story? I’m so excited to have you tell us about your journey and selling. You and I have spent a little time together so I know it was a little bit of an emotional roller coaster.

Domenic, my background, I lived in Memphis for a long time. I’m originally from Louisiana. I went to high school and college here. Like a lot of people, I graduated in the late ’70s. I went to work for Corporate America. I sold printing equipment for a few years and then moved to Eastman Kodak and sold copier and duplicators and later to Hewlett Packard selling mini-computers. My career took a dramatic change for the better when I went to work for a local telecom company that introduced me to video conferencing. In five years of being what they call the data products manager, we grew from 1990 to 1995, me, myself and I, zero sales to over $5 million and twenty employees. I had great success particularly in the distance learning part of the business. Things were going well until my 39th birthday and then I got fired. It’s a long story, but entrepreneurs have a hard time working for other entrepreneurs, I’ll politely say. I got fired on my 39th birthday and was forced to go into entrepreneurship. I had an opportunity through some private investors to get funding for Interactive Solutions.

We started out in March of 1996. We’ve been able to grow the business quite a bit through the years. Domenic, the thing that’s interesting about my story is that none of this success has come easy. This company and I have dealt with all kinds of obstacles. Early on, funding issues and later on, I bought out my partner. A few years later, we dealt with employee theft and embezzlement and a whole series of things. During the recession having to train a whole new group of people and Millennials to grow the business. It’s been a real journey. It’s been the hardest thing I’ve ever done in my life, but I believe it’s my greatest achievement to own the business.

Did you envision before that birthday event that you were going to be an entrepreneur? Did you think you’d always work for Corporate America and you’d rise the corporate ladder and then retire at some point?

I was always one of these guys that were going in a different direction than the corporate people. I tell friends of mine to this day, when I was working for Corporate America, I was always in upselling a lot of stuff and successful, but I felt like I didn’t have a career there. What I was doing was signing a series of one-year contracts. That’s not a long-term relationship. I had people through the years that acknowledge my independent streak ahead. When I was working for Eastman Kodak, I remember that one of the guys on our sales team said, “You don’t follow the rules very well. When they’re firing live ammo out there, we want you in our foxhole.” That was my trademark. I always did things on my own and I was always a rebel.

You pointed out what so many people who own a business and run a business know, the people that fantasize or want to own a business, don’t quite realize, but owning a business is hard work and sleepless nights. Sometimes you’ve got to figure out where the money is going to come from, you are robbing Peter to pay Paul and all things that you can’t even imagine. It sounds like you were on that rollercoaster.

I’m on the roller coaster. If I can think of a few words, whatever describes how we got to this point, resilience and perseverance because none of it has come easy. I do a lot of mentoring of young entrepreneurs at the University of Memphis and other places in the local area. What drives me a little bit crazy is when people talk about that they’re very entrepreneurial, they have a lot of thoughts. That’s great and thoughts are wonderful, but if you can’t take those and put them into a business plan and execute, you’re not an entrepreneur. You’re somebody who’s thinking about it. I take a lot of pride in being an entrepreneur. I’m not the smartest guy out there, Domenic. I made C’s in college and whatever else. I believe that I was put in a position to have to step up a number of occasions have the fortitude to get through a lot of difficult business and personal challenges.

MAU 31 | Selling A Business

Selling A Business: You are not an entrepreneur if you cannot put your thoughts into a business plan and execute them.

 

It is no small feat to grow a business from scratch to $20 million and then realize a sale. When you first started the business, did you have any thought that you would start, build and sell it or did that thought come to you later on?

It took us four years to make any money with the business and it wasn’t a huge amount of money. I never started the business to make money or sell it. I started the business and continue through the years with a great group of employees and team members. I started to grow the business more out of a sense of pride in building something out of nothing. The funny thing about it was as I look back on it because I wasn’t focused on the money thing or an eventual sale, that’s why the success was a result of that. We focused on the things that build into business and continue to do that. I wasn’t naive to the process. I know the M&A world that you live in. I was mindful that should we be able to build it up to a certain level that people are going to be interested in us. We got many calls through the years that 95% of it I didn’t ignore, but it wasn’t just going anywhere. This call came through and when you got the biggest company in your industry talking to you and all the things lined up money-wise and personnel and all these things, it made sense.

Just so I and the audience, the M&A Unplugged Community, has a grounding, can you talk a little bit about the breadth of the services that you provided?

We sell and install video conferencing and audiovisual systems. That’s equipment that would go in anywhere from a conference room to a board room to a distance learning classroom. We also do a lot with healthcare telemedicine where we can diagnose patient’s problems and consults from hundreds of miles away. We’ve gotten very successful and growing a business as a segment of healthcare which is simulation labs and teaching at universities are putting in that need audiovisual technology. These teaching hospitals, rather than having residents working on “live patients” are working on electronic dummies that we’re interfaced with and it’s big business.

When did you know or feel like, “We did build something here and maybe I am ready to sell?” Was it more that the market holds you to that point? What I’m trying to get at is did you do some advanced planning or did it present itself at a time where you said, “I’m going to take advantage of this and we’re going to go?”

Once we turned the corner and started getting some traction, I think that we realized it and I have a lot of great advisors and an informal board of directors who are coaching me about, “To get the business to this level, you’re going to have more options.” As time went on, we recognized that and I listen and I’m a good student of business and things. I have these great advisors and they were also talking about how you build value in a business, not selling hardware but intellectual property and services and things of that nature. We work hard on that with the possibility that it may be a marketable business to sell in the future. I will tell you that we had some introductory things that looked like they were going to step two or three back in 2011 but I didn’t feel comfortable.

This particular company was very focused on our telemedicine efforts and sales. I felt like that market was going to have some issues going forward in terms of sales, revenue and profitability. We stepped away from that and didn’t go very far. About three years later, I got a call from a well-thought of business in the industry, recognizable business, that’s not much bigger than ISI, but they had a great industry reputation and we went through the steps with them. In fact, they’re based in Indianapolis. We flew up there, my wife and I, to talk to them. They flew to Memphis, swapping a lot of financials and ended up getting an offer. I was flattered. It’s the first one we’d ever gotten in writing.

Once we got that offer, my wife and I talked about it. This was about 2014. We looked at it and said, “This is flattering but this is not life-changing money. If we’re going to do this, it needs to be life-changing money.” We sat on that whole thing and declined the offer and then proceeded to continue to grow the business. Fortunately, I did because in the second biggest year we ever had in the history of the company was in 2017. For your readers out there and I’m sure you deal with this all day every day, but you don’t want to try to sell your business when it’s in the decline. You want to sell it when it’s on the ascent. I never dreamed that anybody would come to us because I got calls all the time, but this one call came through. I paid attention to it because it’s the biggest company in my industry. I had a thought that, “If I don’t at least pursue this or acknowledge it, these people are going to put an office in this area, whether I had decided to do this or not. It’s either listen to this and see what they got or deal with the consequences.” It was an arduous process.

I will tell you that the due diligence process was unbelievable and how much information you got to get. In our case, I’m running the business and they are looking for all these sophisticated reports and this and that. As the owner of the company, I couldn’t go out and get that information from my various departments because you and I both know, they will run up a red flag. I ended up making my son the bad guy and he was the CEO in training. He ended up securing the information, putting the data in and all that.

I want to come back and talk about diligence, but let me ask you to get up to the 50,000-foot level for a minute. Looking back, what are the things that you think you did really well to prepare for the moment when AVI came knocking on your door? What are the things that you think you could have done much better looking back? Let’s take the positive side of that first. What are the things you did in preparation for whether you plan to do them or not or knew what the consequences would be? You’re looking back going, “I’m so glad I did those things,” and then we’ll come to the other part of that.

Keep the customers happy to the point that recurring revenue can be created through repeat customers. Click To Tweet

One of the things that we particularly focused on, I and my team members and this is plain vanilla, but keeping the customers happy to the point that we could create recurring revenue through repeat customers. As time went on, we achieved some pretty gaudy statistics on repeat business and looking at a 90% plus of our business year-over-year came from repeat customers. Even though we didn’t have a “recurring revenue base” like if you’re in the insurance business or something else and stuff the Freeman’s come in or whatever, this was keeping the customer happy to where they wanted to continue to do business with us. The second part of the strategy was we didn’t call on Humpty Dumpty. Our client based is the best of the best. By not only having repeat business, which was attractive, and we thought about it and when we’re doing it but repeat business from Fortune 500 companies that had a lot of growth opportunities.

What about things like your financials, your collection cycle and key employees? Were there things that you did around in those areas that you look back and say, “We did a good job of preparing in all of those areas?”

Before I answer that question, I’ll answer the second part of your other question, which is what did I feel that we could have done better to position ourselves? I would love to have seen at the time prior to the sale that we had our service contract business at a higher level. We had had it at some points and a pretty significant number. Besides repeat business, the service contracts and particularly the AVS since they have not been particularly good at selling service. It could have upped the ante if we had a bigger number there. They were attracted to us because of that and the fact that on a positive note, we had some software and things we had done with remote monitoring and telemedicine carts that they were intrigued with. In terms of the financial part of it, the thing that was so critical to us is that when they looked at us, our balance sheet was as clean as anyone they’d ever seen. What does all that mean? I never overcompensated myself. I didn’t have a lake house charged from the company or any of that stuff. On more of blocking and tackling nuts and bolts, we’re very tight on receivables. We never wrote off any bad debt.

That’s a credit to my accounts receivable manager more than anything else. While we’ll give me a small pat on the back is that she was working for an owner that was highly engaged in the collection process. In fact, I used to have the model around here is every day I walk in the door, number one, check your ego. Number two, sell something every day, collect money and you can stay in business and it worked. The last part of the strategy and this is very key to answering your question. It was a moment in time when they came after us, we had come off the second biggest year in the history of the company. Profitability was very high but guess what else? The other part of it was our line of credit was zeroed out for several months. We had a clean balance sheet. They came in there, we didn’t have any lawsuits or any crazy stuff. I ran it the way I ran my life and everything. I’m a Boy Scout and an Eagle Scout, so I kept it very clean and neat and above board.

You gave the M&A Unplugged Community several nuggets around recurring revenue, how important that is and maintaining clean financials. It’s so critical. Did you have key employees in the business?

The brain behind the operation is a guy named Derek Plummer. He was my lead engineer. He ran the design and engineering department for a number of years. That was attractive to have a long-term employee, twenty plus years of that caliber and there were several other ones. You bring up a good point there, Domenic. One of the things that also made us attractive to AVI was the fact that I had so many tenured employees. They were astounded how many people have been waiting 10, 15, 20 years. I feel good about the fact I didn’t run them off. They were providing a high value for a number of years.

It sounds like you were able to keep the sale from your key employees. Did you have the key employees under employment agreements and non-competes or did AVI talk to those key employees before the sale?

Let me answer it this way. My son and I agreed that we were both secret agents in the fact of securing this information and putting on flash drives and running around and this cloak and dagger thing. It was in the best interest of the company. We did not flag any of the acquisitions in the process. I felt like that was unfair to my employees to have them go through that. Once we got to the point of the closing, that was the day that AVI brought all their top executives in and they had their HR guy go to my key employees to lock down some things, the non-compete, etc.

That was the day of closing?

That’s right because we did not do it before because that would have blown it up. By the way, an interesting sidebar to you and your readers, I’m proud to say that none of my employees knew one thing about this until the day we announced it. We did a pretty decent job at that.

MAU 31 | Selling A Business

Selling A Business: Sell something every day, collect money, and you can stay in business and at work.

 

Jay, you bring up a good point because owners fit into one camp or the other. There are those that don’t want the employees to know anything until the business has been sold. There are others that feel concerned about that. They feel like these employees have been with them a long time and they should tell them and bring them along with the process and so on and so forth. I’m doing this for many years and the way that you did it is textbook and for business owners reading out there, the reasons why you don’t want to tell your employees ahead of time is one, the sale may not happen. Two, they’re going to ask you all sorts of questions that you can’t answer. For example, “Am I still going to have a job?” The answer to that is likely yes in almost all cases. “Is my compensation going to stay the same? Who’s the buyer?” The list goes on and on. When you can’t answer questions for employees emphatically, they get nervous.

When employees get nervous and they have mortgages to pay for college educations or whatever it is, they might start looking for other jobs. If they do that in the midst of you selling your business, I guarantee you the value of your business is going to decline to the point where you might not even be able to sell it. One, there’s the aspect of you want to maintain the value of your business, but two, there’s the other aspect of putting yourself in the shoes of your employees and not wanting to make them unduly nervous before you know there’s even an opportunity to sell.

The other thing for me was I felt like it was very unfair to put that in front of people. To your point, if the sale didn’t happen, then what? I have to make this comment because my employees remember me saying this over and over again. I didn’t start my business to make a bunch of money. I preached to them that I wasn’t going to sell it or get out of it for money. Maybe this sounds old fashioned but what drove me for the sale of the business, although certainly the number was right and it was three times we had been offered several years before that. The biggest thing was I wanted to keep the business going forward, sustainable and having my employees be exposed to opportunities for career advancement, possibly moving to all kinds of different areas around the world and not just in the country. They weren’t subjected to my own tight-fisted credit policies and a lot of credit. They want to be around an expanding business and they can have career opportunities beyond Memphis, Nashville and our mid-south footprint. There was a lot to do with I felt like this particular company can offer my employees a whole lot of advantages than I could.

Let’s go back and talk about diligence. You made reference to it. We often talk to our clients about how detailed and intrusive this can be. We try to help our clients get ahead of the curve by building out data rooms well in advance of going to the marketplace so that we’ve got a lot of the information in there so they’re not under the gun to produce it when there’s an offer. Talk about your experience. What did you go through? What surprised you? Why was it so difficult?

I had never been through it before. Everything was new to me and looking at it with my son, I knew that I needed help. I knew I couldn’t do it alone. For the diligence, what I was surprised about was the volume of information they were looking for. I was also not quite as surprised about the types of information, whether it be legal documents, contracts or licenses. Here’s the thing for your readers to consider, we’re talking about activities that went on multiple times a day for over four months. It’s very intense and you’re trying not to tip your hand. The other part of it is I’m still trying to run a business while this is all going on. It was the volume of information that was required. When I look back on it, what I feel good about it is that not only be able to sale to AVI but the fact that they asked for so much information, they were so thorough. They turned us upside down, spun us around or whatever else. There weren’t any sellers’ or buyers’ remorse because they knew everything about us.

Looking back though, if you were to go through that process again, what would you do differently?

I don’t know that I would have done much different. I will say this much to add to the whole process. What I learned early on is that I could not go to this alone. I had the legal support as well as accounting support. The accounting firm that had been with me a long time and my attorney that’s with me for twenty plus years, they were helpful and give me the insights because our attorney specializes in M&A. She had done a lot of things with it. Given all the circumstances, I don’t know that there to be anything different because all the information they were looking for we had. There weren’t any got you’s or anything like that. A slight regret is the timing of it. It was so intense and fast that it took me by surprise. The other part of it and this is on a personal note, I would not recommend this to your readers, but we closed on October 31st. Four days before that, I walked my daughter down the aisle in Savannah, Georgia. In less than a week, I let both my babies go and I would not recommend that. If I had to look back on it, I would have forced him to maybe give me a little more breathing room on the closing.

Those are two major events happening back to back. Talk about selling your baby. What was that like? What was the emotion like for you? Now, that you’re a little removed from it, how do you feel about it?

I got so caught up in the intensity of the due diligence and the closing process. I’m on that set type of people. I tend to have delayed reactions to things because I get caught up in the moment. I will say be prepared for this being highly emotional because at least for me it really was. It was way more than just a business. It was my career on the line. It was my life’s work. I took this very seriously. I will tell you that one of the things that tipped in the direction of going ahead and doing the acquisition was when we had dinner with the AVI people and the CEO, John Zettel, turned to me after dinner. I was telling him how much I was agonizing about the sale and I wasn’t sure or want to do that and all. He told me that he had worked alongside the founder of AVI. He understood the emotional thing. He looks at me and he said, “It’s not lost to me that you’ve entrusted me with your legacy.” I had a lump in my throat and then it hit me that not being the guy in charge, being a place holder for a year has been awkward but my son and I worked our way through it. It’s been a challenging year, a lot of new processes and there’s been some turnover, but all in all, I’d say it’s pretty doggone good.

You stayed with the business and are you transitioning out now? Was it a plan for you to be there for a certain period of time?

Do not dismiss the emotional side when selling a business. Click To Tweet

We had a contract for a year and I’ve got a very generous severance package. I knew it was coming. I’ve already started a new business that is not going to compete with AVI so I’m not that stupid to get into non-compete situations. I do a lot of public speaking. I’m going to push that even harder. I’m getting registered with a lot of speaker’s bureaus. I’m writing the third book and I’m going to do some small business consulting. For anybody that goes through this, you need to plan on the next step. When it goes through your head about what’s next, you need to have a plan and I think we did a pretty good job of coming out of it.

Did you have that plan ahead of time? As you were going through the sale process, was it crystallizing for you as to what you would do next or did that come after you sold?

I’ve been doing this public speaking stuff and when I say that, I’ve been pretty much around the world. I’ve spoken in Mexico to all across the country about entrepreneurship and overcoming adversity and some of the concepts that work for us in ISI and industry type of events and so on. I thought about this honestly over a decade ago. It wasn’t because I was running away from the business, I just had an interest in other areas. I’m very focused on entrepreneurship and inspiring young entrepreneurs in particular to go out and chase the dream. Once we started doing the speaking and then writing a couple of books, the whole environment of what publishing and some of the opportunities and PR. It was a fun departure. That was part-time, obviously, as I was running ISI. At the back of my mind, I thought, “If I ever sell ISI, this is what’s going to be my full-time job.”

We talk about this a lot that if you’re looking to sell the business. It’s one of the first questions we ask owners is what would you do next? Do you have a plan? If they don’t have a plan on what they’re going to do next, we’re a little concerned because that’s where remorse can set in. It sounds to me like you had something, subconscious or not, it was there. It was pulling you to transition out if it was an opportunistic time made sense.

I’ve been even taking the steps. I’m a guy that used to go in in the office every day. I’ve rented some office space near to my home. We’re going to hang our hat there and move forward with the public speaking, the consulting and have some fun, have some flexibility in the schedule. I’ve got a house about an hour South of Tampa that my wife and I like to go to. We’re going to spend some more time down there. I’ve also nurtured relationships with people at the University of Tampa, University of South Florida, spoken entrepreneurship classes and got a number of friends down there. We’re going to make the second act successful and as my son’s kids grow my empire.

It sounds like you’re happy with the sale of ISI and you’ve got a plan. You’re ready to move forward.

I’ve been a little bit disheartened about it. There have been a few people that have moved on and that’s been a bit of tough, but I understand it. To all your readers out there, some of your employees, you’ve got a small business and medium-sized whatever you want to call it, some people don’t want to work for larger companies. It’s nothing personal, it’s not their thing. That part of the process can be emotional. I had my going away party and I was recalling some employees and loyalty. It can tend to be tough to see people come and go that had been with you for a long time. I’ve always told my employees, “Whether I like it or not, every job has a shelf life, even mine.” You’ve got to know when to make the move but there’s still a large group of people that are with the core ISI team. They’re still here and doing some great things. We’ve put in a position and set a platform in place with a new office in Nashville and doing some things with the state government. We’re in a position now that we’ve never been in the history of the company which is being able to sell state agencies off a state contract. That’s very lucrative.

The next to last question is without mentioning numbers, can you talk a little bit about the structure of your deals? Did it consist of cash in an earn-out and consulting? What were the components of the deal that AVI brought to you?

I’m still pinching myself because the deal was an asset sale. It was a significant number, at least for me. I won’t give specific numbers but eight figures or approaching eight figures. The best part was the way they were willing to work with me on the conditions of the sale. What do I mean by that? The top list was I needed them to take care of my employees. I didn’t need them to come in and lay off a bunch of people. Tied for number one is I wanted to make sure that there was a Myers still running this company. My son was brought in as general manager. That was the condition of the sale and he had a healthy salary increase. They played ball. I’d like to tell you that they were the big bad wolf here, but they weren’t. We made an asset sale, so it was clean and neat. There is no earn-out. They didn’t feel like that was going to work anyway. They recognize my personality and like, “He’s not going to be the guy that can hang around here for three or four years doing earn-out.” They acknowledged my personality and played ball and it all worked out.

That’s highly unusual that there’s no form of an earn-out or seller note or some other contingent payments. The last question is you mentioned in the book. You and I talked a little bit about this. You’ve written a couple of other books previously, but you’ve got a third one on the shelf here. It’s in process and it’s about your journey here, correct?

MAU 31 | Selling A Business

Hitting the Curveballs: How Crisis Can Strengthen and Grow Your Business

That’s correct, Domenic. The working title is called Touching All The Bases and it’s the emotional road for selling my business and lessons learned along the way. I’m a baseball nut so my first book was titled Keep Swinging. I had a lot to do with this embezzlement thing we went through. The second one was Hitting The Curveballs and then growing the business during the recession and everything is the theme behind that. The third one was I just was sticking to my brand which is Touching All The Bases. It made sense as I’m rounding the bases to complete the journey. I feel like one of the hooks and the readers who may have an interest in this book, a fun and interesting part of it is the emotional road selling my business and then the lessons learned along the way. Anybody out there who ever considers selling their business, do not dismiss the emotional side of this. It’s not money. You’ve got to think about the rest of it.

Jay, it’s been a pleasure having you here. Congratulations on the sale of the business. It sounds like it was a tremendous outcome for you and for your employees as well. If anybody out there in the M&A Unplugged Community wanted to get in touch with you, pick your brain about what you went through or your new business that you’re starting, how could they get in touch with you?

I’ve got a new email address. It’s [email protected] and then JayMyersCEO.com is my book website. They can find all the stuff, all about Keep SwingingHitting the Curveballs and soon to be, Touching All The Bases.

Jay, thank you so much. It’s a pleasure having you here.

Thank you, Domenic. I appreciate the opportunity to be on your show.

M&A Unplugged Community, it’s such a pleasure to interview someone like Jay, an entrepreneur who realized the dream and he brought up some tremendous points. I was going to recap those real quickly here. One was clean financials. We talk about this so often. It’s not a matter of not putting a lot of discretionary expenses through on your P&L, but it’s paying attention to the balance sheet and making sure that the balance sheet truly reflects the assets, liabilities and equity in the business. Employee contact, I’ve got a situation right now with a client. He’s feeling very badly about not telling employees and we go through this issue many times. I can tell you, I can guarantee you because I’ve seen the movie so many times, not telling the employees is saving them from all of the anxiety that you will go through in the sale process, but you’re the one mostly benefiting. Why put them through that process when in some cases the business might not sell so you might’ve done that prematurely. Diligence, not underestimating how long and intrusive diligence can be. Jay recommended very wisely having good advisors by your side. An attorney that knows M&A transactions, accountants that are good that can take a lot of that heat and pressure off you as it relates to the financial part of the diligence process.

Last but not least was Jay had something that was pulling him out of the business. Whether it was actively pulling him or not, it doesn’t matter but there was something for him to go to. If you don’t have that as an owner, you need to take stock in what you’ll do after the sale. Otherwise, you’ll wind up with significant remorse, maybe not on a financial perspective, but certainly on an emotional perspective. We spent a lot of time talking to clients about whether or not they’re ready emotionally to step away. You can’t ignore that. I hope you enjoyed this. If you would like to learn more about the process of acquiring or selling a business, please visit our website at SunAcquisitions.com or feel free to reach out to me at [email protected]. I look forward to seeing you again next time. Until then, please remember that scaling, acquiring or selling a business takes time, preparation and the proper knowledge.

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About Jay Myers

MAU 31 | Selling A BusinessJay Myers is a successful entrepreneur and award-winning author. Jay is the past Founder/CEO of Interactive Solutions(ISI) which is a videoconferencing/audiovisual technology firm with 55 employees headquartered in Memphis with a remote office in Nashville.

Jay started ISI in 1996 and has built it into a $20-million company with 55 employees & offices in Memphis, Nashville, Knoxville, as well as Little Rock, AR.

 

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