![]() There’s lots more to learn from Jondreau, including: Instead of splitting the business 50/50, the siblings decided to give 2% of the company to Jondreau’s mother, making it a majority women-owned business allowing them to bid for lucrative institutional contracts that often showed a preference for majority women-owned businesses.Īdjustments: Before going to market, Jondreau tidied up his P&L, removing any personal expenses, and having his books audited, which went a long way to increasing the confidence of New Language Capital. These processes enabled the business to run well without Jondreau - which was critical to the acquirer.Ĥ9/49/2: Jondreau inherited American Sign Language with his sister. ![]() ![]() Most of the company’s procedures had been in his father’s head, so Jondreau started to piece together his systems for running the company. Jondreau shares some sage wisdom in this episode, including:ĭocument your processes: Jondreau took over American Sign Language when his father died suddenly. That’s when Jondreau decided it was time to re-negotiate and managed to double his proceeds from his sale. The two parties signed a Letter of Intent, and they were amid diligence when Jondreau won a massive new contract. New Language agreed to buy American Sign Language for 3.5 times pre-tax profit or around $700,000. David Jondreau built American Sign Language, a company that supplied interpreters on contract, to $2 million in annual revenue when he decided it was time to sell.Ī broker introduced Jondreau to New Language Capital, an investor doing a roll-up of language services companies.
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