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Technology Industry
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Transcript
The technology industry is a fascinating one; if you are in the tech community and industry you will find this episode very useful. Jessica and Andrew welcome to this episode some amazing guests, one of them being Aaron Houghton, a serial entrepreneur who has started an email/newsletter software that has been one of the largest players in the industry, and also Matt Jaffe, who has founded a number of different texter apps, one specifically focused on the healthcare industry and the second on the legal area.
The overarching message from the experts is that they found a problem and a way to solve it, providing a cheaper, faster, and better solution to a customer in a specific industry, and that is how and why they were able to scale their companies. These tech experts guests are sharing their journey since the founding of the companies and their way towards the exit, and the hustle of finding the proper valuation of a tech business.
Key Takeaways
[6:02] Aaron Houghton, co-founder of iContact Marketing Corporation.
[6:45] Aaron Houghton talks about his business journey.
[8:57] From founding to sale.
[13:17] The growth of iContact.
[17:35] Building a recession-resistant business.
[20:36] The exit story of iContact.
[25:03] Aaron Houghton’s advice for entrepreneurs who want to grow a tech company.
[26:44] Measuring your happiness on a 1-10 scale.
[28:40] Aaron Houghton is working on a book: Entrepreneur First.
[30:24] Coaching system for founders.
[31:20] Deal of the week: Peter Berg, sold a 30-year-old software company serving municipalities to run programs. Private equity buyer that also served municipalities. The business sold for about four times the EBITDA; the seller signed an employment agreement for two years.
[35:16] Matt Jaffe, CEO of 303 Software and co-founded two startups in Colorado.
[35:56] How did Matt Jaffe start in technology?
[37:23] Growing from 303 Software.
[39:13] Begin with the end in mind.
[40:09] The path for selling a tech company.
[42:53] Advice from Matt Jaffe for entrepreneurs that are building technology to sell.
[46:17] What is next for Matt Jaffe?
[47:48] Listing of the week: Peter Berg, IT services company, $5 million in revenue, 30% in monthly recurring revenue and 70% sales. Price: $1.5 million. Profit $500,000. Financeable business. SBA pre-approved.
Tweetables
Peter Berg. IT services company, $5 million in revenue, 30% in monthly recurring revenue and 70% sales. Price: $1.5 million. Profit $500,000. Financeable business. SBA pre-approved. Email Peter Berg at [email protected] or call 954-907-3007.
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