Stephanie Breedlove started a payroll company in 1992 to solve the problem that families had in paying for their nannies. She began small and self-funded the business growth which averaged 20% per year.
In 2012 annual sales were at $9 million when she received a call from a company that wanted to buy her business and offered almost $40 million – more than 4 times annual revenue. Breedlove turned down the offer. She wanted more and settled on a price of $55 million.
Breedlove’s story illustrates the importance of having a unique point of differentiation, called the Monopoly Control by John Warrilow, author of Built to Sell. She had created a special niche in paying caregivers. The company that bought the business could not easily replicate what Breedlove had developed, which is why they paid such a high premium for Breedlove’s company.
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