Do you think that your own client base could be a source of acquisitions for you if you wanted to buy another business some point in the next five years?
Acquiring Minds
Buying Small to Then Buy Larger ($1m SDE)
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I'll tell you the area that I do think it could is that sometimes we'll use freelance and that, but that absolutely could be an acquisition pool because you know, sometimes we'll use freelance, just individuals, but sometimes we use freelance agencies and so particularly where there's some white space, you know, like, hey, we don't do like this, this, this photo shoot that we just did. We've got…
But the photo shoot, I mean we hired, we hired all of that. We hired, you know, the, the models obviously, but the, the photographer we hired, we had, he had specific expertise in that type of photography, et cetera. And so one example, you know, are we going to go out and buy a photography studio?
Not sure, but there's Plenty of examples like that that are hey, we need some extra help on seopc or we need a little bit of extra help on some of the digital marketing stuff we're doing. Maybe there's a white space. We don't really do a whole lot of like user generated content type social stuff at all.
We'll play social ads and we create social ad content but we don't really do the ugc. And so would we go out and buy a UGC company or, or, and particularly if it was one that we had had experience working with, you know. Yeah, maybe. Or buying one of these companies for their, almost just for their book of business type of, type of a deal, you know, that we've, that we've worked with.
So I think in that way, yes, definitely. Because we're looking for strategics. I'm not really looking for outside the industry necessarily.
Okay, okay. So, so marketing agencies are great for the acquisition minded entrepreneur because you can kind of vertically integrate. There's a lot of opportunities to, to, to vertically integrate. And, and there's so many different types of vendors that are involved in maybe a single marketing project that you could imagine tucking a lot of those in.
But the, so, so noted. But the idea that your client base is going to be the source of you buying businesses and I, you know, I'm just floating it, I'm not, I'm definitely, it feels like the answer is a pretty easy no.
Well, but, but it just, but other people may have a completely different thesis than me too. You know, if, like, if you're, if you're saying hey, I want my purpose in looking at acquisitions now is different than when I acquired point B, like now it's really looking for tuck ins. Whereas so if you were somebody that was like no, I'm not, I'm not looking for, I mean if it, if it happens to be in…
But if not, I'm totally okay with that. So if they're kind of industry agnostic or just have some other criteria that they're looking for, then that, then my answer completely changes then I think yes, absolutely. Because I do think we know or can get a sense and we do have those close relationships with each client.
Right.
And can absolutely get a sense of like hey, I see the writing on the wall, I see what you're trying to do here. You know, even if they don't tell us explicitly, it becomes pretty obvious when they're making certain changes like you're trying to get ready for something, you know, or whatever. So yeah, yeah, okay.
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