We have, it is not currently part of our day to day operating but we, we have brought people in before actually we have a software business that one of our partners, he was at Next Gen Growth Partners in Chicago didn't, didn't get a deal done and then came on with us and six months later he was running a business. And so we, we have done that.
Acquiring Minds
The Origins and Future of a 9-Figure SMB Holdco
Excerpts · 452 segments · ~1:49:39 long
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We will, we'll, we evaluate doing that on you know, unique situations and it might be part of our go forward growth strategy at some point but it hasn't been to date.
And we spend, we're never going to be because of how we think about the business and the values alignment and you know, getting into business with a partner and we've never gotten rid of a partner in you know, my dad's generation, our generation, they've all stayed on operating their business through their desire to do that. And so we spent a lot of time getting to know who we're going to operate…
Whether that is someone we're introduced to meeting, you know, kind of somewhat randomly or you know, introduction from a friend to a friend. And then as we, as we move through the process really spending time together to make sure there's, there's values alignment and that we're gonna be a good fit for them.
We don't have like a factory like approach to any of this or a system necessarily. But we will insert in addition to bringing someone in, we'll insert someone into a company if they were interested in a high level role to be understand small business. We've done that as well.
So and then those folks maybe they, they're getting itchy and they want to run a business. We're obviously in touch with them. So there's a lot of ways we think about it and we're willing to listen to anything but we don't have a, have an approach in place.
And how many operating partners have you partnered with to. To go acquire business?
What we have 20 businesses. So 20. Matt was, was one at one time. So 21. Roughly 21. I think there's maybe one or two others that no longer exist anymore that either got shut down or sold at one point. So call it 23 or 24.
And one of those partners was in a business that we acquired as a leader and came to be the leader of that business. Another one of the partners was an executive in another business we had and transition out to lead a business that we started. So the majority of them come through traditional organic.
They've joined us as the CEO, like an ETA scenario, but there's other paths that exist as well.
Gantt, do the math for me. Are you on track to do 50 by 50?
Yes. Assuming you think compounding is a thing and that our flywheel will compound in terms of the number of deals we do between now and 2050.
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