In an earn-out, a portion of your business’ sale price is set aside for payment in the future if you reach certain goals set by the acquirer; you’ll need to stay on for a few years as an employee of the acquiring company and lead your team to hit the earn-out goals. Most owners would prefer all of their cash the day they sell their business and most buyers would prefer to pay the entire amount contingent on future performance. Deals get done somewhere in the middle, where some portion of your money is paid up front with another slice available if you meet your goals as a division of the acquiring company. Traditional earn-outs are typically tied to the profitability of your company as a division of the new owner and they are fraught with problems. Buyers may thwart your ability to hit your targets in any number of ways.

In this episode of Built to Sell Radio, you’ll hear from Mac Lackey, a veteran entrepreneur who took an alternative approach to structuring the earn-out that put up to 80% of the sale of his company, Kyck.com, at risk. You’ll learn the surprising approach Lackey took to structuring his earn-out in order to maximize his shot at hitting his target. How to minimize your earn-out Generally speaking, the higher your Value Builder Score, the lower the proportion of your deal that will likely be at risk in an earn-out. To get your score, take 13 minutes and complete the Learn How To Structure Your #EarnOut in this week’s episode of #BuiltToSell Radio with @maclackey.

To hear the entire episode on iTunes, and don’t forget to subscribe! You can also find us on, or anywhere podcasts are found! At Built to Sell we’re all about shifting the balance of power from the buyer to the seller. If you support our mission, please write a review on iTunes—and if you have any comments or questions you can find us on. Tune in every Wednesday for another episode of #BuiltToSell Radio with John Warrillow.

About Mac Lackey An entrepreneur for over 20 years, Mac Lackey has built and sold five companies and raised over $75 million in capital. He and his startups have been featured on CNN, The Wall Street Journal, Fast Company, USA Today and The New York Times. Some Highlights of the Show Business: KYCK.com. “The idea was simply to bring technology and innovation to the soccer space.” 5:00. The revenue stream. 6:45.

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The triggering event. 7:36. “I’ve always had an eye towards what is the exit going to be, who are the likely acquirers, and what do those people value.” 7:45. “The capital structure.” 9:14. “The structure of the deal terms on the first round.” 10:08.

“I believe there is a category of investor that is highly strategic, if you looked at our initial investors, we basically found an expert in every category that we felt might be or was certainly important in our growth strategy.” 11:02. The foundation—“the team, the idea and the relationships were key.” 14:00. Preferred vs. Common shares.

15:01. “I’ve always had this point of view that people who might be considered competitors ultimately could be partners or we could be collaborating.” 16:55. “I started that process well before we were in the exit conversation.” 17:45. The due diligence period and the shift in power from the seller to the buyer. 23:02. The letter of intent. 26:12.

Most surprising—their ability to move quickly through the diligence process. 29:25. The unique earn-out structure explained. 35:10. How To Minimize Your #EarnOut. Negotiating with a competitor 40:43.

Find Mac online at Want to Increase the Value of Your Business by Up To 71%? Great information. I had not heard of an earn-out alternative for selling a business.

Another great alternative to explore, that allows the business owner to leave on their own terms and timeline, is an Employee Share Ownership Plan (ESOP). When designed properly, it encourages greater employee engagement, because they are owners. They take greater accountability for their own performance and the company performance. As the company grows in value, the owner is able to capitalize on that growth as she/he sells more shares each year to the employees. It makes sense, doesn’t it?

The people who have the greatest chance of growing the company are the ones who have been a part of the success in the past. With an ESOP, the owner benefits, the employees benefit, the company flourishes.

. Not enough entrepreneurs are open and honest about their experiences. That’s what I love about. Mac has founded and led – InternetSoccer.com, Mountain Khakis, and ettain group to name a few. He’s also a good guy who is willing to meet with other entrepreneurs. I’ll never forget meeting him 3 years ago in his South End office and the genuine interest he took in my life. He doesn’t keep a super high profile, but he’s there.

I signed up for a few years ago and I’ve gone back to the site several times since, just to monitor the evolution. Then I received this email from KYCK yesterday at 3:03 pm. Mac, if you’re reading this, thank you for taking the time to explain the situation and candidly share the journey. And, good luck with the smart pivot! —– Subject: A Letter from our Founder & CEO After a long career in startups, including my first foray into technology and soccer in 1999 with, in 2012 I reentered the intersection of soccer and technology with a mission of building a soccer-specific social network called KYCK Social.

An early adopter yourself, you were one of our first users, and for that our team is very grateful. We launched just prior to the start of the 2012 Euro Tournament with a mobile app and website, and during the tournament we exchanged great friendly banter about the sport we all love with all of you. As a community we knew that interaction about the sport online was going to change and that there had to be a better way than online forums and closed email chains with friends. The path for the vast majority of startups is winding, and KYCK‘s story was no different — while we had some great early success with KYCK Social, and while we (still!) believe there is a place for it in the market, we saw some other immediate opportunities for the application of technology in the sport, so we turned our attention to those opportunities (mainly online registration in youth soccer) and partnered with and to attack that part of the industry — a part we are now disrupting in a very necessary way for the growth of our beloved sport. We didn’t go away.

As our company’s earliest ambassadors — with whom we have done a poor job of communicating since our pivot, for which I apologize — I felt it was important to update you on our current focus. I suspect that many of you are involved with soccer on a daily basis as coaches, parents of players, or team managers, and if so, we are still in the market to help you. While we set KYCK Social aside for a time, it was gratifying to see many of our early product features implemented by Twitter during the World Cup last year.

While it was frustrating to see the conversation on Twitter as opposed to KYCK, it was validating that we are seeing trends early and clearly, and it’s encouraging that we are applying our strength of vision to the bureaucracy slowing down the development of youth soccer. If you run soccer camps or clubs, or know people who do, please contact us at to learn more about our current services. Together we can change the game for the better.

Warmest Regards, Mac Lackey Founder & CEO —– Photo via.