My decision. Should I sell Heyo or not.

Nathan Latka The Top Podcast Episode 177

In Episode #177, Nathan talks more about selling his business Heyo and brings on Jim Risner of Votigo to talk about what makes Heyo desirable. Listen as Nathan comes to a decision regarding a dream he’s had since college – selling a business before the age of 30.

Part 1: A Competitor Emailed Me Asking To Buy Heyo, Are They Serious?

Part 2: The Big Decision, Should We Sell Or Not (listen/read below)

Part 3: Signing On The Dotted Line, “The Big Bank Wire”, Whats Next?


Time Stamped Show Notes:

  • 01:00 – If you haven’t caught up already, one of Nathan’s biggest competitors has offered to buy Heyo.
  • 01:26 – One concern is that the offer may not be serious, only a ploy for information.
  • 01:51 – Ken Armijo calls in to offer advice: before taking the buyers seriously, wait until they produce a contract.
  • 03:02 – Nathan plans to obtain LOI’s (Letter of Intent) from companies that might be interested in buying Heyo and leveraging competition to raise its price.
  • 03:17 – Another Top Tribe listener weighs in on what Nathan should do with the company.
  • 04:36 – Nathan called CEO’s to talk about Heyo’s desirability so he could better understand its selling points.
  • 05:06 – Nathan talks with Jim Risner of Votigo, one of Heyo’s main competitors in the SMB space (Small Business Space) about obtaining a LOI (Letter of Intent).
  • 05:51 – With one LOI in hand from Jim, Nathan began emailing other CEO’s to gauge other interest in Heyo. He obtained four LOI’s from interested companies.
  • 06:30 – The LOI’s weren’t created equally – some of them are pure cash and others include stock in a publicly traded company.
  • 07:27 – Jim Risner talks about Votigo and why they would want to acquire Heyo.
  • 09:10 – Votigo’s been thinking about entering Heyo’s space for a while, expanding into the SMB market. Buying the company would be a big head start into the space.
  • 10:21 – Bethany London calls in to express her thoughts that selling Heyo, a long-time dream of Nathan’s, might not be all that it’s cracked up to be.
  • 11:34 – One of Nathan’s friends from Virginia Tech’s Pamplin School of Business offers his thoughts that Nathan may have outgrown Heyo.
  • 13:58 – Nathan signed the LOI – he’s selling Heyo.
  • 14:22 – Many deals fall through even after a signed LOI.
  • 15:21 – Tune in next Monday to find out what happens. And also, call in to express your thoughts @

Resources Mentioned:

  • Host Gator – The site Nathan used to buy and get hosting at an affordable rate.
  • Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books


>> Continue to Part 3: Signing On The Dotted Line, “The Big Bank Wire”, Whats Next?