On this episode Sean Peace tells a captivating story about selling and exiting an unprofitable business in a unique niche.
On this episode Sean Peace, the founder of an auction marketplace for music royalty streams called Royalty Exchange, tells a captivating story about selling and exiting an unprofitable business in a unique niche.
After two years and $100K in revenue, Peace landed $2 million in venture capital financing to accelerate Royalty Exchange's growth – or so he thought. Venture capitalists aren’t interested in slow growth, but as Peace explains, fast growth may not be the best for every company.
Peace suggests establishing a sustainable, positive cash flow before accepting any outside investments. It is important, Peace explains, to fight the pressure to grow too quickly and invest money wisely.