About the business

• Industry: Salesforce Consulting & Implementation  

• Location: Minnesota (serving national clients)  

• Revenue: $750K–$1M (service revenue)  

• Size: 5 employees at exit (formerly 20+)  

• Specialties: Nonprofit & Financial Services, Salesforce integrations

The challenges

Matt Foster spent over a decade building Fostering, a Salesforce consulting firm, from the ground up. Starting with $5,000 on a credit card, he bootstrapped the business, growing it to serve a roster of satisfied nonprofit and financial services clients. Matt prided himself on trust and quality, eventually narrowing his focus to higher-value work and a lean, well-compensated team.

But 2024 brought new headwinds. Financial sector clients pulled back due to rising interest rates, and Matt found himself less energized by the grind of resource reallocation and more drawn to new ventures and time with his family. When a South American firm approached him about an acquisition, it sparked a new question: Was it time to sell?

Matt wanted a clean exit—no “golden handcuffs” or lingering obligations. But after listing on BizBuySell, he was overwhelmed by tire-kickers and unqualified buyers. The process was draining and threatened to distract from his commitment to clients and staff. He needed a better way.

Portrait by SavvyPhotage

Why Baton?

Matt explored local brokers, but found their approach outdated and ill-suited for a modern tech business. “Most brokers were used to selling hair salons or manufacturing companies,” Matt recalled. “Their technology was horrible, and they didn’t understand the nuances of IT or SaaS multiples.”

Matt discovered Baton through a Google search and was immediately impressed by their tech-forward, transparent process. The portal allowed him to self-pace onboarding, track next steps, and securely upload documents. Most importantly, Baton’s team understood the unique value drivers of a Salesforce consultancy.

“The streamlined process and communication were exactly what I needed. I could focus on running my business, not chasing unqualified buyers.”

From “hello” to close

With Baton, Matt received a data-driven valuation and expert analysis of *Fostering*. Together with his M&A Advisor, they outlined deal terms prioritizing a full exit, not a drawn-out earnout.

Baton launched a broad buyer outreach across marketplaces, their own pool, and targeted competitors. The result? “The amount of interest way exceeded my expectations,” Matt said.

Baton’s team, led by advisor Reid, expertly vetted buyers, filtering out those who didn’t fit Matt’s criteria. Weekly updates kept Matt in the loop, and he was able to hand off even his BizBuySell leads for further qualification.

Two buyers emerged as finalists: one offering a “golden handcuffs” deal, and another willing to purchase outright with a short transition contract. Matt chose the latter, prioritizing a clean break and alignment with his goals.

The closing process wasn’t without hiccups. Financing fell through for the chosen buyer, causing a three-month delay. But with Baton’s guidance, the deal was revived and closed, with Matt’s 2024 financials (his best year yet) supporting the final valuation.

Lessons learned & advice for other owners

Matt’s journey wasn’t always smooth. He candidly shared that the sale process was “harder than I thought,” especially when it came to filtering serious buyers and navigating the closing gauntlet of attorneys, banks, and brokers.

His top advice for owners considering a sale:

1. Show Profits, Not Just Lifestyle: “I could have shown higher profits and paid more taxes for a better valuation. Don’t hide all your earnings.”

2. Recurring Revenue is King: Project-based businesses fetch lower multiples. Build recurring contracts where possible.

3. Systematize Everything: Document your processes so the business can run without you. “I shared our EOS-based documentation with the buyer, and it made a huge difference.”

4. Finish Strong: Don’t let the business decline while selling. “If your kid’s leaving the house, you don’t throw him out. Finish strong for your team and the next owner.”

What’s next for Matt?

Matt didn’t sell everything—he retained his Salesforce application development division and continues to consult for the new owner on his terms. With more time for family, fishing trips, and building his next venture, Matt is excited for the future.

"Baton’s technology and process were exactly what I needed. They delivered on everything they promised. I’d recommend them to any modern business owner.”