And, and that was the goal is once we had a great conversation with the seller, virtually that was our next step is like, I'd love to meet you. This is a very human person to person transaction. Like, I'd love to get to know you in real life as soon as we can.
Acquiring Minds
Quitting Consulting to Buy a $1m SDE Agency
Excerpts · 359 segments · ~1:27:26 long
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Yeah, I think the interpersonal piece is very important to us, not just in this, but even now in businesses. Grants. Just investing in the seller, like going to meet the, or sorry, investing in the buyer. Going to meet the buyer and sometimes even the folks involved in the business.
Is important in your search. Investing. Grant, you, you go and meet the, your, the searcher. I meet the searcher. I try and meet the seller if possible.
But yeah, certainly the searcher. And Julia goes now to Romania once a quarter for the leadership team meetings. It's, it's. I don't know, it's fun. It's nice to do.
Oh, absolutely. I, I totally. And I, we're, we're gonna, we're gonna turn the spotlight on you here. Julia in a second about to hear all about what ownership and operations are like. But Grant, one last thing on something you said a few minutes ago.
Searchers should never be the top. Bid something to that effect. Say more about why that's my belief.
All of the, you know, we were not, we were not the top bid in any of the deals we went to loi on, to my knowledge, it was always we think you have making a reasonable offer and we have non monetary goals such as culture for the team, continuity for the clients. Just feeling like you're a great person to do business with.
We really want a seller who values that alongside the financial transaction. One, because they're probably a better counterparty to have just period. Two, it probably leads to a less risky acquisition because the risk of overpaying is lower.
And three, if you're not doing that like that's, that's sort of the magic or like that's the. Searchers have many weaknesses. Lack of committed capital, you know, lack of having run a very similar business before often.
But the personal side is where we should be shining and that's the best way to see if that's actually happening at all is are you being chosen for non monetary reasons? Yeah, excellent. Well put and great, great point. Okay, so before we get into the actual operations, what anything more to say.
About the transaction itself? You're not using an SBA loan because you wanted to avoid that. This is a business with, with the entity.
Is it a Romanian entity? How does one go?
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