Why Choose Ownership Over Being a CEO

I would say this, this is the other interesting thing perhaps about us is that because we don't have traditional searchers or traditional investors even, we can just have enormous amounts of capital discipline. If we don't like the look of a deal or a smell of a deal, we can pass. We don't have to spend that extra capital we're sitting on anytime soon because our investors don't actually care…

Right. It doesn't have to be five years, doesn't have to be 10 years. We could sit on the business for the rest of our lives and I don't think anyone would actually care.

I was, you know, that we, or pass on an apa say no to that. We were able to really negotiate from a place of power, I would say with the seller of women travel abroad because the botna was walk away and go back to our well paying private equity jobs. Right.

Like we didn't need to do the deal in a way that I think really benefited us from being able to negotiate a very, very positive deal terms that we might not have been able to do if I felt a lot of pressure, pressure either from my investors or you know, felt like, oh, the clock is counting down. If I don't do this deal then I guess I will have failed at searching.

Yeah.

Was it listed for 1.8 or 1.9x. Or whatever you bought it for?

It was listed for closer, a little over 2. And yeah, we got it down to basically 1.9 plus a seller note which she was not initially interested in doing. But again, because we had a lot of cash, I was able to come in and say, look, if you want to get this deal done quickly, you know you're going to give us a seller note because I think that it's important aligning interests for the long term. But…

Lot of cash up front now that you're in the. So this is again not to beat on this, but this is a quite a small business ste at just under 300 and of course we know the conventional wisdom, buy as big as you can or if you can get 750 to a million, please do that self funded searcher, traditional searchers even bigger. How now that you're on the inside of the business, do you, how do you reflect on…

I definitely think right, there are benefits to owning a bigger business in terms of, for hiring purposes. You know, I can't pay people very much money in terms of salary. It wasn't a huge deal for us because we felt like a.

There was one employee who we. She started with the business and came with us when the purchase happened. We kept her on as a contractor and she was very affordable.

So I wasn't super concerned. And then we were able to layer on virtual assistants in the Philippines to help us keep the cost of headcount down and low. So it wasn't like, oh, I'm going to need to make this $100,000 higher.