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Brian and Eric Dosal (Co-Founders, BrightGauge) - How and When to Finish Big

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Eric (the money guy) & Brian (the product guy) Dosal will share their experience in starting, scaling and ultimately selling BrightGauge, their self-funded, 35 employee, SaaS business earlier this year. They’ll share an honest and open account of why they decided to sell while it was still experiencing rapid (50% year one year) growth and very profitable.

They will share the lessons learned in starting a company in San Francisco and then moving it back to their hometown, Miami, FL and the reasons why they took the decision to to sell the company. They were not VC funded and had no pressure to sell. Even with a great culture, great team, great everything, it still could be a great idea to sell. AFTER selling, there are still things to do but it’s OK to take a break and/or start a new project.

You’ll leave with lessons they learned in how/why to finish big and leave on top.

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Brian and Eric Dosal (Co-Founders, BrightGauge) - How and When to Finish Big

  1. 1. How & When to Finish Big Brian & Eric Dosal Co-Founders of BrightGauge Software September 2019 #BoSConference
  2. 2. Why Are We Here We 3x Attendees, but... 100x Videos Watched
  3. 3. Why Are We Here
  4. 4. Why Are We Here
  5. 5. Finishing Big
  6. 6. Our Goal Today From our experience…. How & When To Finish Big
  7. 7. Every founder/leader finishes, not all Finish BIG 1. Death 2. Bankruptcy 3. Generational Transition 4. Exit
  8. 8. What is finishing big?
  9. 9. What is finishing big?
  10. 10. What is finishing big? 1. Fairly Treated & Compensated 2. Sense of Accomplishment & Fullfilment 3. Happy for Employees (or at peace with it) 4. Take Pride in Company Continuing 5. Find New Purpose
  11. 11. Our Story
  12. 12. 4th Generation Entrepreneurs Abuelo Tito, Abuelo Martin, & Dad August 1960
  13. 13. Entrepreneurship in our Blood
  14. 14. Joined The Family Business #StaySmallKeepItAll
  15. 15. BrightGauge begins Jan 2nd 2010
  16. 16. 2010 - 2018
  17. 17. Scratching Our Own Itch in 2010
  18. 18. Built Our Dev Team in San Francisco in 2011/2012 FAILED
  19. 19. Rebooted with a team out of Miami in 2013
  20. 20. Strong Revenue Growth & Very Profitable
  21. 21. The business was humming! 1. 2,000 worldwide companies & growing 2. 33 people, 0 turnover in 2018* 3. 5 Managers who had worked for >2 years together 4. Growing 50% YoY in Revenue w/ profit going faster 5. Next 5 years, had a plan to 3x the company 6. We weren’t doing much as Executives/Owners 7. Perfect Culture
  22. 22. Yes, Perfect Culture
  23. 23. Why the heck would we sell?
  24. 24. Well blame the MONEY GUY!!!! Not Exactly
  25. 25. Timing was right...
  26. 26. Market Dynamics: Frothy Stock Market
  27. 27. Market Dynamics: Peak SaaS Valuations Source: www.tomtunguz.com
  28. 28. Ready to take chips off the table
  29. 29. But at the right number
  30. 30. We understood our role in the business cycle
  31. 31. Already Working On What’s Next
  32. 32. Company was naturally prepared to be sold 1. We had made ourselves irrelevant 2. Brian’s backup was prepped and groomed 3. No single points of failure from a team perspective 4. Financials were clean and simple 5. Our growth plans were documented & tested
  33. 33. We hired the right team [suits] 1. Attorneys are critical 2. Bankers were helpful 3. Accountants were supportive
  34. 34. We were clear on our terms from the start 1. Financial Number & Deal Structure 2. Brian would only help with the Transition 3. Had to have expertise in the next phase of growth 4. Had to be a good fit for our team
  35. 35. Narrowed Down The Field Of Potential Buyers
  36. 36. We found the right buyer
  37. 37. We found the right buyer
  38. 38. We Finished Big
  39. 39. Celebrated with our Family Day Deal Closed Boys Trip To Napa
  40. 40. Shared the success with our original team
  41. 41. Everyone got bonuses & culture still thriving
  42. 42. 9 months later...
  43. 43. Life after BrightGauge: Slowed everything down
  44. 44. Life after BrightGauge: Wellness
  45. 45. Life after BrightGauge: Tons of Family Travel
  46. 46. Life after BrightGauge: Philanthropy
  47. 47. Life after BrightGauge: Next SaaS Venture Team Performance Management
  48. 48. Zero Regrets, 100% Happiness
  49. 49. Every founder/leader finishes, not all Finish BIG
  50. 50. We Hope You All FINISH BIG! Follow Our Next Journey at www.strety.com Brian Dosal bdosal@strety.com Eric Dosal edosal@strety.com

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