Behind the Scenes of an $85 Million Exit with Oliver Palmer [The Opportunity Ep.159]
Selling a business for millions of dollars is a dream that many entrepreneurs chase, but only a lucky few ever achieve. Oliver Palmer is one of those entrepreneurs. He founded a mobile technology business and sold it for an impressive $85 million. In this episode, Oliver takes us behind the scenes of his multi-million dollar exit. From the disappointments of a failed acquisition to the high of finding the perfect buyer. He also explains the many benefits of using an advisor during an exit. According to Oliver, \u201cThe best thing we did when selling our business was engage an advisor. It allowed us to position ourselves in front of acquirers we'd never even heard of. An advisor also brings legal advice and puts the sale together in a way that\u2019s ideal for a buyer. If everything's all lined up, it's so much easier to get to a yes. You can't put a price on that.\u201d Oliver also reveals the common problem his new firm, DQ Ventures solves by helping entrepreneurs build sustainable businesses from scratch without risking their day jobs. Whether you're a budding entrepreneur with a big idea or an experienced business owner aiming for a major exit, this episode has something for you. Enjoy! Topics Discussed in This Episode: Oliver\u2019s background and how he founded his venture studio\xa0 (02:19) A behind-the-scenes look at Oliver\u2019s $85 million exit (03:48) The benefits of using an advisor or broker when exiting a business (14:59) The big thing that surprises entrepreneurs when exiting a business (19:53) How Oliver\u2019s life changed after his multi-million dollar exit (24:31) What Oliver\u2019s venture studio offers to startup entrepreneurs (28:13) The criteria Oliver looks for in a business to fund (37:50) The deal structure that Oliver offers startup companies he helps build (42:19) Oliver\u2019s take on the secret to starting a successful business (51:20) Mentions: Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter DQ Ventures Oliver\u2019s LinkedIn Profile James Green\u2019s LinkedIn Profile Sit back, grab a coffee, and get a behind-the-scenes look at what it\u2019s like to sell an $85 million business!