March 31, 2006

Scott Frazier’s Podcast interview

There are two kinds of people (and thusly entrepreneurs) in the world.

1) Those who learn solely from their own experiences, and 2) those that are smart.

FundingUniverse.com does all we can to give you access to the experience and lessons already learned by successful entrepreneurs and investors. Our Podcast Series is one of major tools in helping us accomplish this mission.

Scott Frazier has joined the ranks of angel investor Bill Payne and LoveSac entrepreneur Shawn Nelson for the fourth episode in FundingUniverse.com’s Business and Investing Podcast Series. Frazier, angel investor and founder of the UtahAngels, has invested time and money into several companies including TruVision, Omniture, and MyFamily.com.
Scott was kind enough to share a few tips he learned from his acquisition experiences. His vantage point, as CEO and entrepreneur of early to middle stage companies, seems remarkably similar to the view of many FundingUniverse.com entrepreneurs. He capitalized on these opportunities and turned multi-million dollar profits. Now he’s offering his game plan to FundingUniverse.com Podcast listeners.

Frazier gives five note-worthy pointers to anyone considering selling their business—in the near future or in the long-run. They are:

  1. Sell something other than net income.
  2. Build unique skills, resources.
  3. Add an earn-out on top of the sells price.
  4. Learn the needs, desires, and motivations of the opposite party, without revealing your own.
  5. Hire a good attorney with experience in mergers/acquisitions.

May we suggest that you take ten minutes out of your day and put yourself in the second (and more successful) category of entrepreneurs. The ability to learn from others can give you the extra foot hole you need to boost yourself to the top. Otherwise, it’s a long and lonely climb to the summit. Happy listening!