Richard Lau, named “Domainer of the Year” in 2004, is the Founder of Logo.com, Resume.com, and NamesCon. He is in the business of building well-structured software companies which turn a profit. A business sale is not just dependent on good ideas, but good execution as well. Richard has generated millions of dollars of revenue in the domain industry and knows the value of starting with the end in mind.
In his interview, Richard explains why you need to start your business with a future exit in mind. A buyer will scrutinize every detail of the business, so it is critical that you don’t take any shortcuts and do your due diligence along the way. Richard shares some strategies he’s used in the past as well as things to avoid when considering this aspect of planning. He also discusses some of the metrics of a successful exit strategy that go beyond just a high valuation. Richard’s insight is valuable to anyone hoping to smooth out their exit planning process.
- 8:49-9:52: Why you need to set up your company with a future exit in mind.
- 11:04-12:12: Necessity of not taking shortcuts and doing your due diligence along the way.
- 14:09-15:28: Some of Richard’s various experiences selling businesses.
- 18:22-19:44: A successful exit isn’t just measured by earnings of sale.
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