S3E20 - Christine McDannell - Building and selling a company for $500K cash

Christine McDannell - Building and selling a company for $500K cash. My next guest skipped college and started working in the corporate real estate industry. After getting sick of the slow processes, she stepped away and created a service business that grew to nearly $1M in revenue. Thereafter, she sold the business, took the cash, and started a second company. Rinse and repeat, she grew that next venture to $1M in revenue and sold for a much larger profit. Now today, she runs a Mergers & Acquisitions firm that specifically focuses on selling tech companies. In this episode, we walk through marketing tips, growth hacks, and lessons learned when selling a company. Please welcome Christine McDannell. Key Timecodes (00:53) - Show intro and background history (02:06) - Deeper into her background and investing path (05:34) - Understanding her business-focused career (07:00) - How she scaled the business (10:40) - How she did well through the recession times (13:50) - Her strategies to sell that business (14:47) - The importance of knowing the right size to sell   (15:58) - Deeper into her numbers (17:14) - How long does she use to keep the business? (20:42) - How she moved to her next business (23:20) - Deeper into the numbers on that one (25:54) - How to build and sell value on businesses (29:22) - The importance of moving forward instead of just planning (31:16) - How she sold that business (33:06) - What she did next on her journey (34:38) - What are the red flags on that business model? (36:47) - The importance of making moral decisions when needed (39:23) - How she started her M&A business (41:33) - Helping businesses to be sold and bought as the model (45:49) - The worst advice she ever received (46:20) - The best advice she ever received (46:54) - Guest contacts Payback Time Podcast Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.