why did I sell my first business so I got a great question for my youtube
got a great question for my youtube
got a great question for my youtube viewers love you guys burn notice who
viewers love you guys burn notice who
viewers love you guys burn notice who wrote in to say hey Evan I got a
wrote in to say hey Evan I got a
wrote in to say hey Evan I got a question I’m just wondering why you sold
question I’m just wondering why you sold
question I’m just wondering why you sold your company you said in your last video
your company you said in your last video
your company you said in your last video you were making good money and then you
you were making good money and then you
you were making good money and then you decided to sell it I’m just wondering
decided to sell it I’m just wondering
decided to sell it I’m just wondering why couldn’t you’ve evolved it and grew
why couldn’t you’ve evolved it and grew
why couldn’t you’ve evolved it and grew with your company thanks so this is a
with your company thanks so this is a
with your company thanks so this is a great story and a great question and the
great story and a great question and the
great story and a great question and the quick background I had a biotech
quick background I had a biotech
quick background I had a biotech software company I didn’t start it but I
software company I didn’t start it but I
software company I didn’t start it but I joined it I became an owner and the
joined it I became an owner and the
joined it I became an owner and the chief operating officer and I turned
chief operating officer and I turned
chief operating officer and I turned down big jobs high paying jobs to do it
down big jobs high paying jobs to do it
down big jobs high paying jobs to do it and my job was the marketing the
and my job was the marketing the
and my job was the marketing the business development basically making a
business development basically making a
business development basically making a business grow and I turned it from
business grow and I turned it from
business grow and I turned it from making three hundred dollars a month
making three hundred dollars a month
making three hundred dollars a month where I thought I was failing thought of
where I thought I was failing thought of
where I thought I was failing thought of quitting said I was going to quit and
quitting said I was going to quit and
quitting said I was going to quit and turned it into a successful company with
turned it into a successful company with
turned it into a successful company with brand name clients international
brand name clients international
brand name clients international presence and then sold it and that was
presence and then sold it and that was
presence and then sold it and that was all in three years so it’s pretty fast
all in three years so it’s pretty fast
all in three years so it’s pretty fast why did I sell it two main reasons okay
why did I sell it two main reasons okay
why did I sell it two main reasons okay the first was market opportunity so if
the first was market opportunity so if
the first was market opportunity so if you look at most markets you’ll find
you look at most markets you’ll find
you look at most markets you’ll find that they expand and they contract they
that they expand and they contract they
that they expand and they contract they go like this they go in waves of
go like this they go in waves of
go like this they go in waves of typically eight to fifteen year cycles
typically eight to fifteen year cycles
typically eight to fifteen year cycles and you’ll find that industries that
and you’ll find that industries that
and you’ll find that industries that have had big companies a few big
have had big companies a few big
have had big companies a few big companies they start to stagnate those
companies they start to stagnate those
companies they start to stagnate those industry stagnant and then a lot of
industry stagnant and then a lot of
industry stagnant and then a lot of little inventors and entrepreneurs come
little inventors and entrepreneurs come
little inventors and entrepreneurs come along and they make it exciting again
along and they make it exciting again
along and they make it exciting again and then slowly it expands lots of
and then slowly it expands lots of
and then slowly it expands lots of companies and then people start
companies and then people start
companies and then people start acquiring the big companies say hey we
acquiring the big companies say hey we
acquiring the big companies say hey we need to acquire these guys we need to
need to acquire these guys we need to
need to acquire these guys we need to make this part of our business and the
make this part of our business and the
make this part of our business and the market starts to contract again you get
market starts to contract again you get
market starts to contract again you get back to a few big players and it expands
back to a few big players and it expands
back to a few big players and it expands and then look so this happens a lot you
and then look so this happens a lot you
and then look so this happens a lot you look at any industry over the years this
look at any industry over the years this
look at any industry over the years this is what happens and we’re starting to
is what happens and we’re starting to
is what happens and we’re starting to happen in my industry the big companies
happen in my industry the big companies
happen in my industry the big companies were coming in scooping up smaller
were coming in scooping up smaller
were coming in scooping up smaller companies some companies raised massive
companies some companies raised massive
companies some companies raised massive venture capitals one comfort that raised
venture capitals one comfort that raised
venture capitals one comfort that raised eight hundred million dollars to go out
eight hundred million dollars to go out
eight hundred million dollars to go out and just start acquiring companies so it
and just start acquiring companies so it
and just start acquiring companies so it was an exciting time and we had to make
was an exciting time and we had to make
was an exciting time and we had to make a decision to either sell now where we
a decision to either sell now where we
a decision to either sell now where we can get a great price for our company
can get a great price for our company
can get a great price for our company because there’s so much interest or
because there’s so much interest or
because there’s so much interest or have to wait another eight to 15 years
have to wait another eight to 15 years
have to wait another eight to 15 years before this cycle happens again and then
before this cycle happens again and then
before this cycle happens again and then be the only independent player so all of
be the only independent player so all of
be the only independent player so all of our competitors were getting scooped up
our competitors were getting scooped up
our competitors were getting scooped up and we’re being you know brought into
and we’re being you know brought into
and we’re being you know brought into massive corporations and we would be the
massive corporations and we would be the
massive corporations and we would be the only little guy left so that was one
only little guy left so that was one
only little guy left so that was one decision one reason the bigger reason
decision one reason the bigger reason
decision one reason the bigger reason though because the first one could be
though because the first one could be
though because the first one could be overcome right we if we love the
overcome right we if we love the
overcome right we if we love the business enough to last another 8 15
business enough to last another 8 15
business enough to last another 8 15 years or for as long as we lived we
years or for as long as we lived we
years or for as long as we lived we could have kept going we could have
could have kept going we could have
could have kept going we could have overcome the obstacle being the only
overcome the obstacle being the only
overcome the obstacle being the only small player the main reason was my
small player the main reason was my
small player the main reason was my partners that so three of us in the
partners that so three of us in the
partners that so three of us in the business my partners who started the
business my partners who started the
business my partners who started the company really wanted to get to the US
company really wanted to get to the US
company really wanted to get to the US they wanted to live in the u.s. it was a
they wanted to live in the u.s. it was a
they wanted to live in the u.s. it was a personal decision they they live an
personal decision they they live an
personal decision they they live an alternate lifestyle compared to most
alternate lifestyle compared to most
alternate lifestyle compared to most people they believe in unschooling not
people they believe in unschooling not
people they believe in unschooling not home schooling unschooling they have you
home schooling unschooling they have you
home schooling unschooling they have you know they were living a macrobiotic
know they were living a macrobiotic
know they were living a macrobiotic lifestyle and diet and did a whole bunch
lifestyle and diet and did a whole bunch
lifestyle and diet and did a whole bunch of different things I was cool just an
of different things I was cool just an
of different things I was cool just an alternate way of living convert the most
alternate way of living convert the most
alternate way of living convert the most people and you know here in Toronto
people and you know here in Toronto
people and you know here in Toronto there aren’t too many people who live
there aren’t too many people who live
there aren’t too many people who live that kind of lifestyle especially back
that kind of lifestyle especially back
that kind of lifestyle especially back then so they wanted to get the
then so they wanted to get the
then so they wanted to get the California because there’s more people
California because there’s more people
California because there’s more people who are doing that stuff more people to
who are doing that stuff more people to
who are doing that stuff more people to connect with and and learn from and
connect with and and learn from and
connect with and and learn from and share experiences with it and you know
share experiences with it and you know
share experiences with it and you know for their kids to grow up with and so it
for their kids to grow up with and so it
for their kids to grow up with and so it was a highly personal decision and and
was a highly personal decision and and
was a highly personal decision and and how do you tell somebody no I don’t want
how do you tell somebody no I don’t want
how do you tell somebody no I don’t want you to go live your dream you can’t do
you to go live your dream you can’t do
you to go live your dream you can’t do that you know think about me you know
that you know think about me you know
that you know think about me you know you can’t do that and so the deal was
you can’t do that and so the deal was
you can’t do that and so the deal was finding a company that would acquire the
finding a company that would acquire the
finding a company that would acquire the business but then also bring on my two
business but then also bring on my two
business but then also bring on my two partners on a contract and sponsor them
partners on a contract and sponsor them
partners on a contract and sponsor them to stay in the United States and
to stay in the United States and
to stay in the United States and specifically in California and so we
specifically in California and so we
specifically in California and so we made that happen I stayed here nothing
made that happen I stayed here nothing
made that happen I stayed here nothing against the US but I love Canada and I
against the US but I love Canada and I
against the US but I love Canada and I had lots of opportunities here to stick
had lots of opportunities here to stick
had lots of opportunities here to stick with and I’m grateful because it started
with and I’m grateful because it started
with and I’m grateful because it started me on my website and got means the
me on my website and got means the
me on my website and got means the venture capital and
venture capital and
venture capital and led to the believe movement and all that
led to the believe movement and all that
led to the believe movement and all that and so is it was a good path to go down
and so is it was a good path to go down
and so is it was a good path to go down but anyway that’s a story I don’t think
but anyway that’s a story I don’t think
but anyway that’s a story I don’t think I’ve ever told it before so that’s why I
I’ve ever told it before so that’s why I
I’ve ever told it before so that’s why I sold you know that’s why we sold the
sold you know that’s why we sold the
sold you know that’s why we sold the business and thank you for letting me
business and thank you for letting me
business and thank you for letting me share that belief for everybody watching
share that belief for everybody watching
share that belief for everybody watching like a video thumbs up below let me know
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like a video thumbs up below let me know what you think leave a comment ask the
what you think leave a comment ask the
what you think leave a comment ask the question below i’ll make a video
question below i’ll make a video
question below i’ll make a video response and click on my face to
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subscribe to the channel thank you so much i’ll see you soon
”
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