Dan Faggella founded a Brazilian Jiu-Jitsu Academy to pay for college and grad school which sparked the idea for his eCommerce business, Science of Skill. Science of Skill was created for the sole purpose of eventually selling it and using the exit money to fund an artificial intelligence market research company. He grew Science of Skill past $2 million in revenue, sold it in 2017, and TechEmergence was born completely funded by the exit. If you listen, you will learn: How recurring revenue helps the value of your business Importance of finding a marketing channel that ensures consistent profitability and growth Having key employees that can run the company without the owner can increase the value of the company and provide for a smoother transition/exit Importance of knowing how the processes of your company tie into growth and profit How to figure out and analyze the core metrics of your business Finding the right broker makes a ton of difference when selling a business Building Up Science of Skill Dan went from owning a physical Jiu-Jitsu gym to starting an eCommerce business. He started taping the Jiu-Jitsu seminars he was giving in person and putting them on the internet. He took the curriculum he used and studied himself and turned the videos, information, and skill development exercises into monthly subscription based lessons which would allow the company to have recurring revenue. “I had it impressed on me early on that recurring revenue is a good thing. Recurring revenue is going [More]