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Ep 171 Nathan breaks some big news regarding his business Heyo \\u2013 he got an offer to sell it. Listen as Nathan discusses with his team the process and ramifications of selling their business.

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3 Key Points:

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1. Transparency has the advantage of keeping everyone on Heyo\\u2019s team informed and learning. The downside is that they may feel anxious about what the future holds.
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2. A big part of selling a business is considering its future profitability and potential.
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3. When selling a business, it\\u2019s important to be sensitive to the feelings of the people who are invested in it. (Employees, investors, customers, etc.)
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Time Stamped Show Notes:

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• 00:00 \\u2013 Nathan talks about when he first started his business with his mom.
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• 02:02 \\u2013 Early on building Heyo, Nathan resolved to be transparent about how offers were negotiated so that everyone on the team could learn from it.
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• 04:28 \\u2013 Nathan\\u2019s team got an offer to sell their five year old business Heyo by their competitor.
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• 05:56 \\u2013 In line with the founding philosophy, Nathan\\u2019s decided to be fully transparent about the process to his Heyo team.
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• 07:22 \\u2013 Chris Rieger, the head of operations at Heyo expresses his thoughts.
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• 08:04 \\u2013 Heyo has sentimental value to the team and still possesses long-term value in its future opportunities.
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• 09:20 \\u2013 Nathan\\u2019s concern with transparency is losing talented employees due to the potential acquisition.
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• 10:10 \\u2013 Nathan is also concerned that the business might become too comfortable and miss out on bigger opportunities.
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• 10:30 \\u2013 A big part of deciding whether to sell Heyo is its future potential.
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• 11:18 \\u2013 Nathan doesn\\u2019t like the offer \\u2013 he plans to reach out to other potential buyers get LOI\\u2019s (letters of intent) to leverage Heyo\\u2019s value.
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• 13:37 \\u2013 Christina, Heyo\\u2019s head of branch strategy joins the show.
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• 16:01 \\u2013 Nathan thinks that Heyo\\u2019s brand wouldn\\u2019t be shut down if acquired by their competitor, only reused.
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• 18:01 \\u2013 Nathan and Christina have faith in their team to find a new project if Heyo were acquired.
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• 19:01 \\u2013 Christina thinks that as long as they properly manage the communication to their customer base, the transition will be smooth for users.
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• 21:48 \\u2013 There are numerous people tied to the business \\u2013 Nathan sees his business partners as life-long, not business long.
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• 22:19 \\u2013 The investors in Heyo is an important factor to consider in the acquisition decision.
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• 22:44 \\u2013 What do you guys think - should Nathan sell Heyo?
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Sponsor:

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• Edgar \\u2013 Nathan uses Edgar instead of other scheduling tools\\xa0for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over \\u2013 time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn\\u2019t have to work or pay for.
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The Top is FOR YOU if you are:

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The Software as a Service (SaaS) entrepreneur who wants to grow to a $100m+ valuation (episode #14).

Your host, Nathan Latka is a 25 year old software entrepreneur who has driven over $4.5 million in revenue and built a 25 person team as he dropped out of school, raised $2.5million from a Forbes Billionaire, and attracted over 10,000 paying customers from 160+ different countries.

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Oprah gets 60 minutes or more to make her guests comfortable to then ask tough questions. Nathan does it all in less than 15 minutes in this daily podcast that\'s like an audio version of Pat Flynn\'s monthly income report. Join the Top Tribe athttp://NathanLatka.com/TheTop