That is probably the most useful and powerful advice that I've heard in dozens of episodes. And we've all heard it It's a bit of a cliche, actually. In negotiation, just be quiet.
Acquiring Minds
A Few Hours Per Week, a Few States Away
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Be comfortable with silence. That's not exactly what you said, but that's an adjacent piece of advice. Be quiet, Be comfortable with silence, and let your other part of your counterparty talk and keep talking.
And often things will be revealed that are. That are helpful to understand, to craft a deal that you both find is what you want. So. And by the way, that's probably good advice in, you know, in life, not.
Not just in business transactions. So. I love it. Brett. So, and so that. So we've talked now about the 70%. That 30% was solely from you, or did you raise money from investors or friends and family?
No. So from the deal that I mentioned earlier that ended up falling apart, a little bit bigger deal that we had already gone down the path of setting up a Robs account utilizing my wife and my 401ks to fund originally intended to fund that deal and that we just left open and were able to use for this deal.
So it was a combination of 401k funds and then personal taxable accounts that we had and went back and forth on that, whether or not we really wanted to go down that path.
But. Which path? The 401k path. The 401k? Yeah. And ultimately came to the decision that it gave us a little more flexibility while maintaining complete ownership of the company and maybe being able to do a bigger deal than we otherwise would have. I think if we didn't have that, we still could have done the deal without the Robs. But we already had had that set up.
And so, yeah, it added a little bit of nuance, but because we already had that set up cash in Rob's qualified 401k accounts, that made it really easy just to set up the next deal and actually get a pretty quick close.
Great. And now I know you. You don't want to say the exact purchase price, but we heard you say. We heard you say that revenues are. We heard you say what SDE was and that you got it for, you know, the.
In the range of three. So we can. We can basically, I think it's fair to say middle six figures.
Yes. Mid six figures is what you brought. And that was a combination of 401k and your own balance sheets. So you, You. So just to be clear, you.
You had that money. Yes. Only because you tapped your 401k. Yep. Yes.
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