357. An Easy No, Then an Easy Yes: Inside the Mid-7-Figure Sale of Smart Passive Income (After Rejecting Two 8-Figure VC Offers)

Special Xero offer: Get 90% off for 6 months using this link: ⁠https://referrals.xero.com/cubicle⁠  Terms & Conditions apply. Run a business that takes appointments? Use code 'CEO' at ⁠https://glossgenius.com/cubicletoceo⁠ for 50% off your first two months of a premium plan. This is a free preview of a paid episode (58 min), exclusively available on our subscriber-only premium feed. Become a premium subscriber to tune into the full episode: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cubicletoceo.co/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Questions about our premium podcast subscription? Send us a DM ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@cubicletoceo In the truest example of a win-win, today’s case study highlights a seller and the buyer both convinced they got the better end of the deal. Pat Flynn spent 18 years building Smart Passive Income and turned down two separate eight-figure offers before selling SPI in a mid-seven-figure deal earlier this year to email strategist Liz Wilcox, the Fresh Princess of Email Marketing. This dual POV conversation gives you an honest look at the emotional side of M&A, as well as the juicy transaction details: the financing structure, Liz's down payment, and why she switched the terms just weeks before signing. Pat weighs in on why offers from venture capital were an easy no, Liz reveals how she grew community activity 400% in the six months between closing and this public announcement. This is a lesson in how the right successor wins over the highest bid when the founder truly cares about protecting what they’ve spent 18 years building. Connect with Pat: http://www.patflynn.com/ https://deeppocketmonster.com/ https://www.youtube.com/@deeppocketmonster Connect with Liz: http://www.smartpassiveincome.com/ https://lizwilcox.com If you enjoyed today's episode, please: Post a screenshot & key takeaway on your IG story and tag us ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@cubicletoceo⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ so we can repost you. ⁠⁠⁠Subscribe to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠our premium feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ for case-study style interviews every Monday.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices