Taking a Leap on My $50,000 Nest Egg Led to a $22 Million Company Sale

Jaclyn Johnson was nurtured by entrepreneurs, though she initially dreamt of a corporate career, picturing herself in a skyscraper office. Yet, after losing two jobs unexpectedly, her perception of corporate stability shifted.

Venturing into Entrepreneurship

Transitioning to freelance work, Jaclyn eventually launched 'No Subject,' her marketing firm. This agency focused on event management and influencers—then known as bloggers—growing it to significant success. These years became her practical business education.

Her experiences sparked a desire to connect with other women pioneering in business. Thus, in 2011, she organized a small gathering, Create & Cultivate, for 25 women in Palm Springs. This initiative was to unplug and unite with others sharing similar business passions.

The Risky Investment

From its modest beginnings, Create & Cultivate blossomed, drawing 300 attendees by 2014 in Los Angeles. Suddenly, brands were eager to collaborate—a stark contrast to her agency days spent chasing clients.

In 2016, guided by a friend's optimism about the event's expansion, Jaclyn wrestled with investing significantly for the first time. Her mother motivated her, arguing that Jaclyn often funded PR and professional services, so why shy away from backing herself?

With her mom’s encouragement, she wagered $50,000—almost her entire savings—on Create & Cultivate.

A Turning Point with the Sale of Her Marketing Agency

Soon, the enterprise witnessed accelerated expansion. Jaclyn faced a pivotal decision: remain with her comfortably established marketing agency or fully pursue the promising yet unpredictable future of Create & Cultivate.

Opting to sell her marketing business not only provided financial security but also introduced her to the prospect of selling a business—an insight that solidified her resolve to build a sellable asset with Create & Cultivate, targeting women in their careers.

Navigating the Pandemic and a Successful Exit

By 2019, Create & Cultivate was achieving $14 million in revenue. Interviewing Martha Stewart onstage was a highlight as acquisition interests ramped up.

However, the pandemic struck, decimating live events. Though the transition to digital was relatively smooth, by late 2020, burnout loomed after relentless acquisition negotiations.

In March 2021, a private equity firm acquired Create & Cultivate for $22 million. This amount was less than prior offers but commendable given the market context. As the primary shareholder, Jaclyn received a significant exit payout.

Reacquiring Her Brainchild

After stepping down as CEO during a transitional phase, Jaclyn continued to serve on the board. To her surprise, plans to resell the company emerged.

The significance of the community she cultivated led her back. A conversation with the upcoming CEO led to a partnership, allowing her to reacquire Create & Cultivate for a considerably smaller sum than its sale price.

This time, they approached it with a fresh perspective. Recognizing the established nature of the business, they acknowledged the need to maintain high-quality standards from the start. With $2.6 million gathered in venture capital, they are now innovating how events incorporate expert access and technology.

Being at the forefront once more is invigorating for Jaclyn.