60% Concentration That Killed an Exit

And we did. And we had, you know, we were going to get a great return. We went to market. You want me to go, I can go into that part of the story.

Let's do it.

I mean, it was, it was easy to find because you also have to think about the meat on the bone for them to win too. If we kept growing and we were selling, doing a wholesale there, how are they going to make money? And then you have to think one layer deeper, which is like, who are they going to sell it to?

Because that's what they're thinking, well, if I grow it to here with the meat on the bone for the next guy. Yeah, maybe it's your guy. Once you get to two, you probably, you probably want to worry about three, because once you get to three, you're at some other business.

But I'm sorry, what do you mean,

but doing like the third buyer. Because I'm looking at my buyer and then I'm thinking about my buyer's buyer. Right, right when to sell.

And so why why do you not play that? Why can't you play that game infinitely?

What happens that you get to the point of, like, there's enough pivots in the road, like, maybe you decide to go geographic, maybe you decide to go to fitness, maybe you decide to go somewhere else. There's enough things that you can't really think too far out and think it's gonna. And then it's just like a mental exercise is gonna go nowhere.

Yep. You know, it's a mental treadmill.

Fair enough.

But you get the ones you can see. Like, what do I think this business needs to double? Then if this doubles with that owner, who's the buyer after.