Sticky People

Published on May 29, 2024

Jordan van Schyndel: Building a Winning Culture and Selling with Upside

Jordan van Schyndel is a remarkable entrepreneur who built a thriving service business with a strong emphasis on cultivating a unique and engaging company culture. His success in retaining employees and fostering a loyal team caught the attention of Spiria, a company that eventually acquired van Schyndel's business.

In this insightful episode, van Schyndel shares valuable lessons and strategies that enabled him to build a winning culture and structure a deal with future upside. Here are some key highlights:

Creating a Winning Culture:

Van Schyndel's approach to building a successful company culture centered around fostering an environment where employees felt valued, empowered, and part of a close-knit team. He prioritized open communication, transparency, and creating a sense of belonging among his team members. This approach not only boosted employee satisfaction and retention but also contributed to the overall success and growth of his business.

Structuring a Deal with Future Upside:

When Spiria expressed interest in acquiring his business, van Schyndel recognized the opportunity to structure a deal that would provide him with future upside. He understood the importance of calculating his minimum number, which represented the financial threshold he needed to achieve to secure his desired lifestyle and future plans.

Earnout Structure:

To ensure that he could benefit from the continued growth and success of the acquired business, van Schyndel negotiated an earnout structure. This arrangement allowed him to receive additional compensation based on the company's performance over a specified period, aligning his interests with those of the acquiring company.

Communicating with Employees:

Recognizing the importance of transparency, van Schyndel approached his employees openly about his consideration of selling the business. He understood the potential impact this decision could have on his team and aimed to address their concerns and involve them in the process.

Avoiding Identity Attachment:

One of the key lessons van Schyndel shares is the importance of avoiding attaching one's identity too closely to the business. He emphasizes the need to maintain a healthy separation between personal identity and professional endeavors, enabling entrepreneurs to make rational decisions and embrace new opportunities when they arise.

Jordan van Schyndel's story serves as an inspiring example of how to build a thriving business while prioritizing a positive company culture, structuring deals with future upside, and maintaining a balanced perspective on entrepreneurship. His insights provide valuable guidance for aspiring entrepreneurs and business owners seeking to create sustainable success while fostering a loyal and engaged team.

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