To Sell Or Not To Sell …
March 13, 2017 by guest author, Mitch Leathers
Guest Post: Luis Villafane, Maler
I love reading news about digital signage companies being bought, especially companies run by people I know.
I am truly happy for them, even envious. If their solution is good, I’m even happier. And if they are really nice, “down to earth” people, I’m pretty much orgasmic for them.
But I just hate to see crappy companies get bought — especially if the owner is one of those people with a stick up his butt, who believes his solution is the best thing since hot chocolate.
So, is selling really worth all the effort?
For some of us, digital signage is a not just a job, it’s how we have spent most of our mature life. Our projects are babies we have given birth to, and nurtured to maturity. There are times when we were missing important dates of our real children and families, to take care of the signage babies.
You put in the hard work to raise these business babies, hoping that one day, they will feed you, and feed you well. So, how much is that worth? How do you put a real price to that? Seriously, once you made it, once you haven’t used a credit card for several years to make month’s end, how do you price to it?
I’ve had offers twice to sell my company. Twice, I’ve said, “No.” Not because the money wasn’t great (which by the way, it really wasn’t). But because you cannot put a price to the effort. You can only put a price to what you have … contracts, clients, solutions, software, potential …
You cannot price the feelings. I am just 45 (I know I look much younger). But I know it will take me forever to recycle myself outside digital signage. What the hell would I do? What would I bitch about? (OK, I’d find something to bitch about ..)
People ask me … what would you do if instead of selling, you got a large amount to invest? Well, I would take the money and run.
What do all these investor-funded companies do with the money? I mean, you constantly hear: So and So just raised $10 milllion, and some other company secured $5 million.
What do they do with it? It baffles me because most of the time, you never hear much or anything about the company … until they announce they’ve raised MORE money!
Do they understand that, in one way or another, they have to give that money back?
I invested $70K in development last year and for that I got tailored software and solutions for corporate networks coming out of my ears. Seriously! It is beyond me how companies spend millions to manage 20 networks and a few 1,000 crappy panels. Maybe because it’s not really their money, it’s much easier to blow it.
So, would I sell? Yes.
Would I sell cheap? Hell, no.
Will you see me around after I sell? No. No. No. That’s probably like being in your daughter’s house the night of her wedding, advising the groom,
No. Just no.