The underestimated power of playing hard to get
You know this story - us founders are told to hustle harder. Say yes to every opportunity. Chase every conversation. Build fast and big.
A considered contrarian - Marisa Fong built a business that sold for a premium by doing (almost) the opposite.
She made the business desirable; then made it hard to access.
Marisa co-founded The Madison Group, a high-end recruitment firm that went from startup to eight-figure exit. Their secret was all about positioning. Don’t get me wrong, Marisa and Wynnis had times of hustle, but it was intentioned.
Instead of chasing clients, they built a reputation strong enough that clients chased them.
Instead of undercutting competitors, they raised their rates.
Instead of mass marketing, they cultivated a premium brand and protected it with strict rules around who they worked with.
It’s a lesson that doesn’t get talked about enough: desirability is a growth strategy. And it’s often a more powerful one than brute-force scale.
What buyers actually want
Marisa’s story reminded me of something I see all the time in exit prep. Founders focus so much on revenue growth, they forget about perceived value. But buyers aren't just buying numbers. They’re buying positioning, scarcity, and brand equity.
That’s what lets you command a premium multiple.
You may have heard me say, a great business to sell is a great business to keep. And, when you don’t *need* to sell; because your business is well-run, profitable, and in demand - that’s often when the best offers come.
If you’re building for exit (eventual or not), here’s what to take from Marisa:
Pick your clients like investors. Your customer base i your positioning. Choose the right ones, say no to the wrong ones.
Don't sell time. Sell outcomes. Madison Group shifted from ‘hours worked’ to ‘value delivered’. That move alone unlocked scale.
Make the business desirable - then unavailable. Exclusivity doesn’t just attract better clients. It attracts better buyers too.
Cheers,
Josh
P.S. Haven’t caught my conversation with Marisa Fong yet? It’s packed with gems on positioning, pricing, and building a business buyers want. If you’re serious about scaling or selling, this episode’s worth a listen. Search Two Commas – Marisa Fong on Spotify or Apple Podcasts.
