Recently listened to an episode of The Exit podcast with Brecht Palombo. This guy had quite an entrepreneurial journey, starting at age 15 with a local bike shop. Lived through the dot-com bust and the Global Financial Crisis, where his business plummeted by 90%.
It was during his research into lender data, seeking fresh opportunities, that a light bulb moment occurred. If he, an experienced entrepreneur, found value in this data, surely others would too. And thus, a simple PDF packed with invaluable information was born. The demand was evident when people willingly parted with hundreds of dollars for this data. Recognizing the potential, Brecht evolved this concept into a full-fledged SaaS business with a subscription model, which turned into DistressedPro, which he eventually sold for 7-figured.
Brecht comes across as very humble and real.
Biggest mistake: Not choosing a more lucrative niche. He said he knew guys that were doing exactly what he was doing when he was doing it, they didn’t have more capital or knowledge, but they ended up making a lot more money simply because they chose better market.
Check out the episode here or if you’re interested in Brecht’s advice on building a business you can sell, check out his website.