We were lucky to catch up with Bjarne Haug recently and have shared our conversation below.

Hi Bjarne, thanks for joining us today. Parents play a huge role in our development as youngsters and sometimes that impact follows us into adulthood and into our lives and careers. Looking back, what’s something you think you parents did right?

Born in Oslo to Norwegian and Danish parents, I grew up in Denmark before returning to Norway for a few years ahead of my teens. This nomadic upbringing taught me not to be anchored to a single place, making me highly adaptable. Both of my parents looked outward for opportunities, a trait I certainly inherited.

We didn’t come from money, and I remember always wishing my dad would buy a car we could be proud of, but he was strictly practical. As I grew older and began launching my own companies, the desire to afford a better lifestyle fueled my drive for success. Although my family didn’t come from an academic background, I have always been sharp, quick to understand complex situations, and driven by a ‘just do it’ mentality.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

First off, I moved to the US in 2008 with the firm belief that I wouldn’t work in corporate America. It’s fine for some, but it wasn’t for me because I wanted to be in control of my own time. So, I started a marketplace for real estate that connected agents with photographers. We successfully exited that company in 2021, and today, I’m essentially doing the same thing with Towit, Inc., which is a peer-to-peer trailer rental marketplace.

The idea came from my own 24-foot enclosed car trailer. I only used it five times a year to take my car to the track, yet I was spending $130 a month just to leave it sitting in a storage facility. I thought, ‘Why not rent it out?’ But there were no secure options for that. So, I called up my former developer, asked if he wanted to join me on this new venture, and here we are with a marketplace again.

I’m proud to say that I’ve been a part of generating residual income for quite a few people, with many more to come. For example, one horse trailer owner has made over $10k on her single trailer just by renting it on our platform, which is actually more than the value of the trailer itself! Personally, I own trailers and rent them out just to utilize the platform myself. Most people know someone with an idle trailer sitting in their driveway. Where they see clutter, I see unused assets.

Conversations about M&A are often focused on multibillion dollar transactions – but M&A can be an important part of a small or medium business owner’s journey. We’d love to hear about your experience with selling businesses.

Yes, I’ve sold a business and started five others. For the most part, the smaller ventures that didn’t make it just faded out or were shut down. Fortunately, I’ve never gone bankrupt, but looking back, I realize I lacked the vision or persistence for a few of those companies.

Selling a business is no joke. There are always so many hidden agendas and weird dynamics during negotiations. I knew our exit wasn’t the absolute best deal possible, but the timing was perfect. We managed to get out right before AI completely changed the landscape of that industry.

When you’re selling, make sure you hire a trustworthy attorney who is completely on your side; anything else is a total waste of time. You have to decide whether you want to stay put, continue working with the acquirer, or do something else entirely. Everything from non-competes to transition periods is negotiable. For your own sake, make sure you are happy with the final terms. Also, ensure there is a solid Letter of Intent (LOI) in place before you dive into the mountain of closing paperwork you’ll end up signing.

My biggest takeaway from that sale is that you need to negotiate harder and push more in your own favor. If someone waves a lot of money in front of you and you’re tempted to sell, think twice. Figure out who really holds the upper hand, and know exactly what you are willing to accept.

Can you tell us the story behind how you met your business partner?

The story of how I met my co-founder is short, but it is absolutely worth sharing. Back during my previous business, we were experiencing massive growth, doubling our revenue year-over-year. We quickly hit a point where our online presence and technology stack desperately needed a serious upgrade to sustain that momentum. To handle this, we hired a development agency out of San Diego. I was serving as the CTO at the time, which meant I worked closely with Gabriel, the lead engineer assigned to our project.

The synergy was instant. Gabriel’s work was exceptional and played a massive role in driving us toward our eventual exit. I had the vision and the strategic ideas, and he had the rare ability to implement them flawlessly. A month after we successfully sold the company, I couldn’t shake the feeling that we made a killer team. I picked up the phone, called him out of the blue, and said, ‘I have a new business idea, but this time I don’t want to hire you. I want you as my co-founder. Let’s go!’

Gabriel didn’t hesitate; he was instantly on board. For a talented developer, the agency and freelance grind can get exhausting after a while, and he was hungry to build something stable that he actually owned. We spent months laying the groundwork, combining my market insights with his technical execution, and that partnership is exactly how Towit, Inc. came to life.

Contact Info:

• Website: https://www.towit.com
• Instagram: https://www.instagram.com/towit_inc/
• Facebook: https://www.facebook.com/TowitInc/
• Linkedin: https://www.linkedin.com/company/towit-inc
• Youtube: https://www.youtube.com/@Towit_Inc

Image Credits

Image credit: Towit, Inc