But do you feel like the motion of basically as, as you said, you, you P and L. The van. So you weren't even using financing. You just, when you had the cash, you'd buy a new van in cash and find a guy to run that van and voila, you're in a new territory.
Acquiring Minds
The $60k Acquisition that Grew to a $77m Exit
Excerpts · 306 segments · ~1:10:57 long
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You're in a new market. Correct? Yeah. And do you feel like that that formula would, would work today if, if it's in a, if it's a, in a market with demand, if it's in a service with demand. I mean, what, what's different today?
And, and again, think about this from the perspective of searchers who might be looking at home services businesses and contemplating how they can grow something much bigger than it currently is.
Yeah, I think I was much less sophisticated than I am today and didn't. Again, didn't know what I didn't know. And it seemed like, you know, taking on a bunch of debt didn't make sense since the business was producing a lot of cash.
And there were moments when we grew into some states when we shouldn't have and we hired the wrong people and those that were learning lessons. So some of those issues, both of us, if he was sitting here with me, he'd say, the same thing we learned from, but we wouldn't probably replicate. But those lessons, those mistakes are embarrassments that you have are the best learning things that you can.
The next five states we went into, we did it better, and we were smarter and more intelligent about how we did that. There were some close calls there that I wouldn't. That I would want to avoid, but that's part of the process.
You've got a. It's. The success in this business is not linear. You know, you're gonna. You're gonna have some pretty big setbacks.
And it's just, how long can you. The person that can hold on the longest wins? Getting into the mechanics a little bit.
Would using debt in some way have been a way to grow more comfortably?
Because you were. You were also just frantic. I mean, so you, you know you're losing your hair, right? During these years, it's growing.
So the business fundamentals seem good, but you're also frantic and breathless all the time. So was there. Was there being more sophisticated now? Was there a way to have used debt to do this more comfortably?
I think there would have been. My concern at the time, we were all about grow, grow, grow.
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