E11: Running a DIY Sale Process with Jon Gregg

It’s a tough decision to exit a business, but it says a lot about a leader who can make a call on when it's the right time and gets it done. The alternative is kicking the can forward and risking the possibility that you lose control of your destiny. When selling a SaaS business, you optimize for 3 things; 1) best outcome for investors, 2) doing right by your people, 3) doing right by your customers. The trade-offs are never easy and it’s hard to 100% optimize for each. In this episode of In/organic, I sat down with Jon Gregg, former President & CEO of Sellpoints which sold to Syndigo, a PE-backed SaaS company, in 2019. In this episode, Jon shares his experience of running a do-it-yourself sale process for his company. He discusses the decision-making process, the goals of the process, and the importance of building a strong team. Jon also explains the different phases of the process and the criteria for finding the right acquirer. He highlights the significance of trust and cultural alignment in the deal and reflects on the signing and closing day. Finally, he shares some lessons learned and offers advice for others considering a DIY sale process.Chapters00:00 Introduction and Background03:57 Making the Decision to Sell09:20 Goals of the Process11:21 Reading In Customers12:40 Building the Team15:16 Reading In Non-Executives20:05 Phases of the Sale Process26:28 Criteria for Identifying Acquirers30:09 Example Terms for Post-Deal Performance35:06 Signing and Closing Experience37:25 Lessons LearnedConnect with Christian & In/organic PodcastChristian's LinkedIn: https://www.linkedin.com/in/hassold/In/organic on LinkedIn: https://www.linkedin.com/company/inorganic-podcastIn/organic on YouTube: https://www.youtube.com/@InorganicPodcast/featuredConnect with Jon Gregg on LinkedInhttps://www.linkedin.com/in/jongregg/ Hosted on Acast. See acast.com/privacy for more information.