Yeah. So three months of fingernail biting later, I get back the, the sim and you know, obviously participate in the process. And you know, I'm thinking to myself, there's just no way that we're going to win here. But if I don't try, I am never going to sleep again for the rest of my life.
Acquiring Minds
Timing is Everything: Buying a $30m Tutoring Business
Excerpts · 639 segments · ~1:57:02 long
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And Jared, with that in mind, how are you going to try to differentiate yourself when what you knew was a very competitive process?
Yeah, you know, I asked Dave what was important to him and I listened. Right. You know, from very early on it was.
And I hopefully was probably honest, which might be different than other people, but who knows.
Yeah, that's true, that's true. Much of the chagrin of your great bankers. No, I'm kidding. Obviously they were awesome.
They're great guys. Titan is the name of the bank. They're awesome. Matt Lavelle is the bank. He's great.
What did he want?
He wanted a quick transition, but an orderly one. He wanted, you know, specifics as, as far as cash and, and from very early on it was extremely Clear to us that Dave was extremely important in the business. Right. Classic founder led company.
You guys have known Dave for, you know, the length of this interview. And, and Will, I know, you know, one conference and he's, he's a force of nature. Right, right. So the huge shoes to step into.
And so we knew that we, we needed to keep him around. And you know, so we rolled Dave for just under a quarter of the company, which, look, Dave, I mean you, you always believed in the future of the company. You just didn't have the time or the energy to, to take it where it deserved to go and where it, it will be going, you know, knock on wood, obviously.
Right. And so I think that was really attractive to you. Something you didn't mention is that second bite of the apple was super important to you. And I really remember there are two conversations that stand out to me throughout the deal process.
The first was I fled to San Francisco as part of the LOI process as one of however many LOIs that were IOIs that were selected to send Lois if interested and fled to San Francisco. And I literally brought the computer with me and we're in the hotel in San Francisco and I turned the computer around. I said, Dave, here's the amount of money I have, here's how much you make.
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