ETA·BRAIN

Acquiring Minds

Acquiring a $7m Niche Marketing Agency with 50 Employees

Episode
Excerpts · 346 segments · ~1:21:52 long

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There's probably some ego involved in my end that I thought I could do it given that uniqueness with, with some flexibility. But you know, I eventually found out I needed to go all in and would be much, you know, had a much better opportunity to be successful by committing.

You've moved back home, you want to do a geographic search. Where in North Carolina are you? And tell us about that limitation because that does play out here in a couple of ways.

Yeah. And you. I think the geographic search is probably that piece that can be the most contentious for folks considering this route. I would say on the search fund, I didn't go that route, but I had heard anecdotally that that was typically a tough sell for investors. They want you to be able to cast a wide net.

I had moved back to my wife's hometown of Greensboro about an hour and a half north of where I grew up and really fell in love with the city and felt like its unique location on i40 and i85, you know, huge arteries, it had A nice tailwind of growth. But it wasn't Charlotte and it wasn't Raleigh Durham in the sense that, you know, maybe it's less picked over than those markets might be.

And had a mentor and a friend here, Adam Duggans, who's been on your show, who kind of paved the path. And almost everybody I talked to, you know, inevitably would say, have you talked to Adam Duggins? And I had. And you know, he was a great help and a mentor and he believes in, you know, this community and wants to see people succeed.

And so I really was searching in Greensboro with maybe a 45 minute commute radius. And the irony is my commute is an eight minute walk to Sales factory.

We'll come back to that. Yeah. Adam Duggan's longtime listeners might remember his episode which was the kind of most indelible detail was that he did 600 coffees. He was, he was doing a proprietary search.

He was just, he was just relentless in, in his local networking. He was also doing a geographic search, wanted to be in Greensboro, North Carolina, the Triad region. And so, you know, I just remember the 600 impressing him.

Wait, 600 literally? Or is that a figure of speech? No, literally 600 copies.

So did you get connected with Adam before your search or you already knew him or. Just curious.

Yeah, I think it might actually be my, my brother in law that knew Adam and connected me and you know, him and his business partner Rick. You know, I think they've bought maybe seven businesses at this point, all within this area. And so I tell folks, you know, I want to be Adam Duggans and Rick Ramsey one day.

You know, they've really done an excellent job. They, you know, my, my take, I don't know if they would say this directly but like they tend to be more like on the industrial side and the manufact manufacturing. I didn't necessarily know if those were going to be the best personal fits for me.

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Acquiring a $7m Niche Marketing Agency with 50 Employees · ETA Brain