Timing is Everything: Buying a $30m Tutoring Business

And like, I felt, and still feel like significant responsibility to make sure I was giving Jared, like, the most solid foundation I could and that if anything happened, I wouldn't have to ask myself, like, if I gave them something crappy, you know, I mean, and so, so I partially felt that, but I also, I partially felt a, you know, relief, but I also partially, very much felt this like, different…

I don't know if you know the how well you know our world now, but seller fraud is the top reason why search search acquisitions go sideways or south. And you might say, well, obviously, but actually it's, to me it's quite surprising that there are so many people who are willing to take millions of dollars from somebody knowing that they're sabotage, that this person is set up to fail.

Yeah, I, it's like, I hear that and like, what is fraud? What is fraud? Right? Because like, to me it's like a continuum. To me it's like a continuum because it's like if there's now get scared, Jared.

Now gets back to biting my nails. Now I'm joking.

No, no, like, what I'm trying to say is like, you know, I am learn. Like, like maybe there is somebody that is literally lying in like every step of the way, actively defrauding. I'm sure that happens.

I mean, you would like to think that a savvy person would like, not be, you know, would not have that gloss over them. But also, I am sure there are like white lie fraud and like, omissions and like, well, they didn't ask me about this, so I'm not going to say anything. You know what I mean?

So like, like I, I don't know, like where these fall into, but like, I can see the second type happening because, you know, if there's a lot of money at stake and blah, blah, blah, blah, I can see people behaving like, less than optimally.

And, and then.

Maybe after the fact, it looks like overt fraud. I. I don't know. Yeah, I mean, so I'm no, but.

It'S actually a good point because, because there is part of this that's like if you're as the seller of a. Business, of course you want to present. Your business in the best light.

So where is the line between presenting your business in the best light and being dishonest and, or even fraudulent and, and that's probably a, that's probably a harder question than we buyers give sellers credit for. Jared, what do you think?