Right. There seems to have been a effective marketing campaign done by someone about the notion of digital assets where you could just buy these cash flowing digital assets and they don't take a lot of time and you know, the seller only works five hours a week and it can just be like real estate for you almost. Which is a thesis that I wholeheartedly disagree with and that sellers tended to…
Acquiring Minds
Quitting Consulting to Buy a $1m SDE Agency
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And so they tended to be attracted us. It was interesting. There is those, those, I'll say those three platforms have large email lists and so many of the transactions that they bring to market they will end up talking to dozens or hundreds of potential buyers. And the average caliber of that buyer from what the brokers have shared with us is quite low on average.
And so by showing up, by wanting to operate, by being a nice person who is just sort of meets all your like normal business hygiene standards, somehow that was, that was a meaningful differentiator in the eyes of brokers and sellers based on what they ended up telling us, which was very surprising, but an interesting observation. The other thing that of course differentiated you, I imagine is…
Again, returning to like many SBA buyers are there because they don't have any money or don't have very much money. Not what brokers like to hear. You could also differentiate yourself by saying we're not SBA buyers.
We have some capital to put at this that probably put you in the top 10% of. Of buyers out of the gate.
Yeah. You win some, you lose some. It gives you a lot of points for seriousness uncertainty of close. And it gives you the drawback of you were pushing pretty hard on the seller financing side of which the seller may or may not be deeply excited about. Okay, okay.
Right, right. So I guess I shouldn't overstate this. This thing about not being a buyer at the moment. Yeah, well, because.
Right. So. But, but also, I mean it's not that you guys were going to be paying 100% in cash for a business you were still going to negotiate pretty hard for substantial seller financing. So it's not like you were. Yeah. Cash buyers.
Correct, right. Okay. Which I do think statistically appropriate in digital businesses where there's a lot of, you know, in a marketing agency it's clients and team and processes. And so that's hard to buy without some ongoing seller skin in the game for either like rolled equity or seller note or something. To sort of facilitate a smooth transition.
Ah, okay. So wad take seller financing. Not just to get the, not just to, to enable you financially to get the deal done, but also to be the hook to incentivize the seller to. For a good transition.
When you say remote. And the three platforms that you're looking at. Quiet Light, website closers.
Flippa. Now, many of the for sale, quote unquote businesses, there are websites. They are kind of assets. They're not actual businesses.
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