How Erica Davis sold her business for $1.1M

This is a quick little pass-you-onward post. I discovered Erica Davis at www.erica.biz a few months ago and have been following her blog posts about starting a business. Her website tells you that she sold a web-hosting business for $1.1M before she was 30. I wondered how she did it. Last night, I listened to a podcast in which Yaro Starak, of www.entrepreneurs-journey.com, interviewed Erica. She tells a good story–self educated techie, dropping out of college to be part of the turn-of-the-century internet explosion, learning her way into running a hosting company.

Some of my readers who are newer to business really want to listen to the bit about halfway through (I was driving; it may have been not long after the 20 minute mark but I couldn’t check) where she talks about not getting accounting right and how much money and emotional pain (layoffs) that cost her.

If you are in a similar position (not quite understanding your own books and not sure why you need to be able to understand them), listen to the interview and then read the Ellen Rohr books Where Did the Money Go? and How Much Should I Charge? 3/4 of the way down the Books page on this site.

In time, I want to add my own podcasts to this site, but until then, you could do a whole lot worse than listening to this one. Erica had employees, and rent, and found clients through networking (and SEO), and she is clear about how she achieved her success.

(Many of Yaro’s podcasts are pretty good. Erica’s was the first that focused on someone with a real brick-and-mortar business, even if it was as close to “internet” as you can get and still BE brick-and-mortar. If your business happens on the internet, you should listen to more of Yaro’s interviews.)