The Joy & Pain of Buying a Tech Business

So often in our world, searchers buy businesses that are traditional. They're not at the forefront of technology. To say the least. Well, today's guest is an exception.

Felipe Corcuera and his partner, via a traditional search fund, acquired a consulting business offering robotic process automation, rpa. These are essentially bots that automate complex tasks for enterprises. Well, Felipe acquired the business right as the first version of ChatGPT was released.

In the ensuing years, the AI revolution forced his industry to adapt. Felipe and his team have adapted and today they are an AI automation business selling AI agents. Sounds exciting, and it is.

This is a searcher whose business is indeed at the front lines of the technological revolution. We see headlines about every day and it's going well. The numbers don't really show it yet.

There is a serious J curve as Felipe has recast the business model to AI, but the investments are bearing fruit. The trajectory is promising. Listen for our discussion of revenue quality and revenue valuation.

Now, despite all this, Felipe did joke to me on the pre call that sometimes he wishes he had just bought a landscaping business. Technology is exciting, exits can be enormous, but it's unpredictable and competitive. We never know when we're going to.

Get crushed by someone, he says. What's going to stop OpenAI tomorrow from launching some crazy AI builder that's going to do everything that we're doing? It's an interesting trade off to weigh between technology forward businesses and traditional businesses.

Exciting but unpredictable on the one hand versus enduring if sleepy on the other. Which do you prefer, AI or landscaping? Here is Felipe Corcora, co CEO of Beecker what happens when, for better or worse, extends to due diligence, deal terms and running a company together.

In this week's webinar on Thursday, you'll hear directly from married members of the Acquisition Lab who've taken the leap into acquisition entrepreneurship side by side. Chelsea Wood is hosting, and she will dig into how the couples divided responsibilities, navigated disagreements and kept their marriage strong while building a business. You'll hear the biggest benefits, the biggest.

Challenges of being partners in both life and and work. The surprises, the lessons, the advice they. Wish they'd known before closing.

If you're considering buying a business with your partner or just simply curious about how others have made it work, this webinar will give you an honest look at what it really takes to balance love and leverage. It is this Thursday, September 4th at 11am Eastern. Register at the link in today's show notes or on the Acquiring Minds homepage.

Acquiringminds Co. Welcome to Acquiring Minds a podcast about Buying businesses. My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and on this podcast I talk to the people who do it.