Capital, providers, investors, there's a whole ecosystem. But even if people don't want to go that path of working with investors, the conventional wisdom on this podcast and others is so drilled into everybody. Don't buy fragile, don't buy tiny, don't buy distressed for your first one.
Acquiring Minds
Exiting for Millions vs. Long-Term Hold
Excerpts · 305 segments · ~1:22:02 long
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That's, you know, that's not for rookies. You were still flouting what is today conventional wisdom.
That's well out of necessity. I had no sponsor and so I didn't have no sponsor telling me that that was a bad idea also.
Yeah, no podcast telling you not to do that.
You know, and look, I, I, I think the kinds of businesses I was looking at, you know, I, I did need a little luck on my side. A, I needed a business that could be scaled because I didn't want to run a little business with six employees for the rest of my life. And I needed a business that might be somewhat broken but was fixable. You know, not every broken business can be fixed.
Yeah. Yep.
And as MBAs, we train ourselves to think that, you know, we can fix anything. But you know, that after a lot of experience, I don't think that's true. I think that, you know, there are bad businesses and there are good businesses and if you end up with a bad business, even if you are really good at what you do, it's tough.
It's just a bad business. And so I ended up through my search making two investments in separate companies in the plastics business. Both of them, I just, I just got really lucky because they did meet the, you know, sort of a fixable and be scalable criteria.
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Go to aspenhr.com or contact Jenny Theere directly at jenny aspenhr.com let's take them. Each in turn, Don. But first of all, industry wise or category wise, you were looking for manufacturing because that's what you knew.
I think I'll just answer yes. I wanted a manufacturing company. Okay, how about that?
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