StarZero All shows Try the podcast clipper →

May 23, 2023 · 24m · startup-acquisition-stories

Startup Acquisition Stories with Colin Dougherty, Director of Marketing at Zenlytic

Andrew Gazdecki · 11m spoken Colin Daugherty · 10m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of Startup Acquisition Stories, host Andrew Gazdecki interviews founder Colin Daugherty on building, scaling, and successfully selling e-commerce brand Camskins via Acquire.com before transitioning to his marketing leadership role at Zenlytic.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Andrew holds 50.7% of the talking time here. How this is scored →

Andrew as informed peer 6.0 Guest teaching 3.6 Guest disagreement 0.1 Andrew pushing back 0.1
05100:0010:0020:001:12–3:49 · Andrew as informed peer 5/10 Founding Camskins and Scaling Early Instagram Growth Gazdecki actively listens to Colin's background starting Camskins and validates his Instagram distribution approach with general marketing advice on focusing on a single channel first.3:49–5:57 · Andrew as informed peer 6/10 The Decision to Sell Rather Than Scale Colin explains his realization about team scale and hiring aversion. Gazdecki builds on this with his own framework for startup stages from zero to tens of millions and advising founders to audit what they dislike doing.5:57–8:32 · Andrew as informed peer 5/10 Listing on Acquire.com and Generating Buyer Interest Colin recounts his surprise at getting 30 inbounds on Acquire compared to only one on Flippa. Gazdecki welcomes the praise and digs into how Colin managed the incoming deal flow.8:32–11:23 · Andrew as informed peer 7/10 Vetting Buyers and Protecting Key Supply Partnerships Colin outlines his non-negotiable condition protecting his US manufacturer, and Gazdecki provides deep domain insights on how responsive communication de-risks acquisitions for buyers.11:23–14:18 · Andrew as informed peer 7/10 Navigating the Stress of Due Diligence Colin discusses the intense stress of due diligence with legal and accounting support. Gazdecki shares tactical advice on continuing to actively pitch growth opportunities even after signing an LOI.14:20–17:16 · Andrew as informed peer 6/10 Finalizing Closing and Wire Transfer Realities The conversation is highly collaborative as both share personal anecdotes about the anxiety, bank fraud fears, and false starts surrounding wire transfers upon closing.17:16–22:24 · Andrew as informed peer 7/10 Joining Zenlytic as Director of Marketing Colin details his transition to Zenlytic and outlines three core seller tips. Gazdecki strongly validates them, emphasizing upfront financial prep and having trusted M&A advisors.22:24–24:05 · Andrew as informed peer 5/10 Knowing When to Exit and Concluding Remarks Colin reflects on recognizing when passion fades as the trigger to sell, and Gazdecki agrees that buyers can readily detect half-hearted commitment before closing out the interview.1:12–3:49 · Guest teaching 4/10 Founding Camskins and Scaling Early Instagram Growth Gazdecki actively listens to Colin's background starting Camskins and validates his Instagram distribution approach with general marketing advice on focusing on a single channel first.3:49–5:57 · Guest teaching 3/10 The Decision to Sell Rather Than Scale Colin explains his realization about team scale and hiring aversion. Gazdecki builds on this with his own framework for startup stages from zero to tens of millions and advising founders to audit what they dislike doing.5:57–8:32 · Guest teaching 3/10 Listing on Acquire.com and Generating Buyer Interest Colin recounts his surprise at getting 30 inbounds on Acquire compared to only one on Flippa. Gazdecki welcomes the praise and digs into how Colin managed the incoming deal flow.8:32–11:23 · Guest teaching 5/10 Vetting Buyers and Protecting Key Supply Partnerships Colin outlines his non-negotiable condition protecting his US manufacturer, and Gazdecki provides deep domain insights on how responsive communication de-risks acquisitions for buyers.11:23–14:18 · Guest teaching 4/10 Navigating the Stress of Due Diligence Colin discusses the intense stress of due diligence with legal and accounting support. Gazdecki shares tactical advice on continuing to actively pitch growth opportunities even after signing an LOI.14:20–17:16 · Guest teaching 3/10 Finalizing Closing and Wire Transfer Realities The conversation is highly collaborative as both share personal anecdotes about the anxiety, bank fraud fears, and false starts surrounding wire transfers upon closing.17:16–22:24 · Guest teaching 4/10 Joining Zenlytic as Director of Marketing Colin details his transition to Zenlytic and outlines three core seller tips. Gazdecki strongly validates them, emphasizing upfront financial prep and having trusted M&A advisors.22:24–24:05 · Guest teaching 3/10 Knowing When to Exit and Concluding Remarks Colin reflects on recognizing when passion fades as the trigger to sell, and Gazdecki agrees that buyers can readily detect half-hearted commitment before closing out the interview.1:12–3:49 · Guest disagreement 0/10 Founding Camskins and Scaling Early Instagram Growth Gazdecki actively listens to Colin's background starting Camskins and validates his Instagram distribution approach with general marketing advice on focusing on a single channel first.3:49–5:57 · Guest disagreement 0/10 The Decision to Sell Rather Than Scale Colin explains his realization about team scale and hiring aversion. Gazdecki builds on this with his own framework for startup stages from zero to tens of millions and advising founders to audit what they dislike doing.5:57–8:32 · Guest disagreement 1/10 Listing on Acquire.com and Generating Buyer Interest Colin recounts his surprise at getting 30 inbounds on Acquire compared to only one on Flippa. Gazdecki welcomes the praise and digs into how Colin managed the incoming deal flow.8:32–11:23 · Guest disagreement 0/10 Vetting Buyers and Protecting Key Supply Partnerships Colin outlines his non-negotiable condition protecting his US manufacturer, and Gazdecki provides deep domain insights on how responsive communication de-risks acquisitions for buyers.11:23–14:18 · Guest disagreement 0/10 Navigating the Stress of Due Diligence Colin discusses the intense stress of due diligence with legal and accounting support. Gazdecki shares tactical advice on continuing to actively pitch growth opportunities even after signing an LOI.14:20–17:16 · Guest disagreement 0/10 Finalizing Closing and Wire Transfer Realities The conversation is highly collaborative as both share personal anecdotes about the anxiety, bank fraud fears, and false starts surrounding wire transfers upon closing.17:16–22:24 · Guest disagreement 0/10 Joining Zenlytic as Director of Marketing Colin details his transition to Zenlytic and outlines three core seller tips. Gazdecki strongly validates them, emphasizing upfront financial prep and having trusted M&A advisors.22:24–24:05 · Guest disagreement 0/10 Knowing When to Exit and Concluding Remarks Colin reflects on recognizing when passion fades as the trigger to sell, and Gazdecki agrees that buyers can readily detect half-hearted commitment before closing out the interview.1:12–3:49 · Andrew pushing back 0/10 Founding Camskins and Scaling Early Instagram Growth Gazdecki actively listens to Colin's background starting Camskins and validates his Instagram distribution approach with general marketing advice on focusing on a single channel first.3:49–5:57 · Andrew pushing back 1/10 The Decision to Sell Rather Than Scale Colin explains his realization about team scale and hiring aversion. Gazdecki builds on this with his own framework for startup stages from zero to tens of millions and advising founders to audit what they dislike doing.5:57–8:32 · Andrew pushing back 0/10 Listing on Acquire.com and Generating Buyer Interest Colin recounts his surprise at getting 30 inbounds on Acquire compared to only one on Flippa. Gazdecki welcomes the praise and digs into how Colin managed the incoming deal flow.8:32–11:23 · Andrew pushing back 0/10 Vetting Buyers and Protecting Key Supply Partnerships Colin outlines his non-negotiable condition protecting his US manufacturer, and Gazdecki provides deep domain insights on how responsive communication de-risks acquisitions for buyers.11:23–14:18 · Andrew pushing back 0/10 Navigating the Stress of Due Diligence Colin discusses the intense stress of due diligence with legal and accounting support. Gazdecki shares tactical advice on continuing to actively pitch growth opportunities even after signing an LOI.14:20–17:16 · Andrew pushing back 0/10 Finalizing Closing and Wire Transfer Realities The conversation is highly collaborative as both share personal anecdotes about the anxiety, bank fraud fears, and false starts surrounding wire transfers upon closing.17:16–22:24 · Andrew pushing back 0/10 Joining Zenlytic as Director of Marketing Colin details his transition to Zenlytic and outlines three core seller tips. Gazdecki strongly validates them, emphasizing upfront financial prep and having trusted M&A advisors.22:24–24:05 · Andrew pushing back 0/10 Knowing When to Exit and Concluding Remarks Colin reflects on recognizing when passion fades as the trigger to sell, and Gazdecki agrees that buyers can readily detect half-hearted commitment before closing out the interview.

speaking balance: gold is Andrew, purple is the guest (3 minute bins)

0:00 · Andrew 36.9% · guest 63.1%0:00 · Andrew 36.9% · guest 63.1%3:00 · Andrew 53.3% · guest 46.7%3:00 · Andrew 53.3% · guest 46.7%6:00 · Andrew 39.6% · guest 60.4%6:00 · Andrew 39.6% · guest 60.4%9:00 · Andrew 56.6% · guest 43.4%9:00 · Andrew 56.6% · guest 43.4%12:00 · Andrew 52.5% · guest 47.5%12:00 · Andrew 52.5% · guest 47.5%15:00 · Andrew 57.6% · guest 42.4%15:00 · Andrew 57.6% · guest 42.4%18:00 · Andrew 50.1% · guest 49.9%18:00 · Andrew 50.1% · guest 49.9%21:00 · Andrew 66.2% · guest 33.8%21:00 · Andrew 66.2% · guest 33.8%24:00 · Andrew 10.5% · guest 89.5%24:00 · Andrew 10.5% · guest 89.5%
Sharpest disagreement ▶ 6:25 Overturning initial assumptions about Flippa vs Acquire

Colin contrarily admits his initial hypothesis was entirely wrong regarding which platform would deliver serious D2C e-commerce buyers.

 Hardest push from Andrew ▶ 4:56 Reframing business stages and founder suitability

Gazdecki adjusts Colin's framing of company scaling by sharing his own structured tier system and recommending founders map out what they dislike doing.

 Biggest teaching moment ▶ 9:20 Demanding buyer loyalty to original supplier

Colin explains how he vetted buyers based on a hard non-negotiable requirement that they preserve his partnership with the local manufacturer who took an early bet on him.

 Andrew holds their own ▶ 10:06 Analyzing acquisition failure rates due to slow communication

Gazdecki leverages platform-level data to demonstrate how nine out of ten deal breakdowns stem from slow seller responsiveness signaling poor reliability to buyers.
the scores for every segment, with the reasoning behind each
ChapterTopicAndrew as informed peerGuest teachingGuest disagreementAndrew pushing backWhy
Founding Camskins and Scaling Early Instagram Growth 5400 Gazdecki actively listens to Colin's background starting Camskins and validates his Instagram distribution approach with general marketing advice on focusing on a single channel first.
The Decision to Sell Rather Than Scale 6301 Colin explains his realization about team scale and hiring aversion. Gazdecki builds on this with his own framework for startup stages from zero to tens of millions and advising founders to audit what they dislike doing.
Listing on Acquire.com and Generating Buyer Interest 5310 Colin recounts his surprise at getting 30 inbounds on Acquire compared to only one on Flippa. Gazdecki welcomes the praise and digs into how Colin managed the incoming deal flow.
Vetting Buyers and Protecting Key Supply Partnerships 7500 Colin outlines his non-negotiable condition protecting his US manufacturer, and Gazdecki provides deep domain insights on how responsive communication de-risks acquisitions for buyers.
Navigating the Stress of Due Diligence 7400 Colin discusses the intense stress of due diligence with legal and accounting support. Gazdecki shares tactical advice on continuing to actively pitch growth opportunities even after signing an LOI.
Finalizing Closing and Wire Transfer Realities 6300 The conversation is highly collaborative as both share personal anecdotes about the anxiety, bank fraud fears, and false starts surrounding wire transfers upon closing.
Joining Zenlytic as Director of Marketing 7400 Colin details his transition to Zenlytic and outlines three core seller tips. Gazdecki strongly validates them, emphasizing upfront financial prep and having trusted M&A advisors.
Knowing When to Exit and Concluding Remarks 5300 Colin reflects on recognizing when passion fades as the trigger to sell, and Gazdecki agrees that buyers can readily detect half-hearted commitment before closing out the interview.

Statements from this episode (8)

Insight
Gazdecki: Early-Stage Startups Should Focus on One Marketing Channel
“I always tell people when they're first starting out building a startup business, whatever, maybe focus on one marketing channel at a time, you know, cause you can do ads, SEO you know, Social media, but just going all in on one channel, you'll be, you know, g…”
Andrew Gazdecki May 23, 2023 ▶ 3:29
Assertion Not checkable as stated
Daugherty: Camskins Operated With 10 Contractors and Zero W-2 Employees
“We basically ran cam skins with 10 contractors and freelancers. No one was W two. It was just all contractors.”
Colin Daugherty May 23, 2023 ▶ 4:38
Insight
Gazdecki: Founders Should List Disliked Tasks Before Starting a Business
“Before starting a business, write down all the stuff that you don't like to do. And that'll really be your guiding path.”
Andrew Gazdecki May 23, 2023 ▶ 5:20
Disclosure
Daugherty Mandated That Camskins Buyers Retain His US Manufacturing Partner
“One of the requirements that I talked to all these guys with was if you buy cam skins, the manufacturer stays the same. I use a us manufacturer. These guys took a bet on me when I had basically no money in. And I basically gave them my life savings and was lik…”
Colin Daugherty May 23, 2023 ▶ 9:36
Assertion Not checkable as stated
Gazdecki: Slow Founder Communication Causes 90% of Stalled Acquisitions
“When I've seen acquisitions not fall through, we'll go and, you know, give advice to the founder, kind of look, and nine times out of 10, we'll see chat logs not responded to, we'll see you know, questions answered three days later. What that does is it signal…”
Andrew Gazdecki May 23, 2023 ▶ 10:34
Disclosure
Daugherty Kept an Accountant and Lawyer on Call During Due Diligence
“My, I was basically keeping two people on speed dial at all times, which was my accountant and my friend who is a lawyer and I was basically just be like, if they needed anything, I would respond immediately with due diligence. And then if we kind of had some …”
Colin Daugherty May 23, 2023 ▶ 11:48
Insight
Gazdecki: Founders Must Continue Selling the Business After Signing LOIs
“You're still selling the business after you sell an LOI. And if you do that, sometimes if they find something maybe kind of small, you just shared with them a bunch of other stuff to get excited about, growth opportunities, et cetera, and that can keep the dea…”
Andrew Gazdecki May 23, 2023 ▶ 13:53
Insight
Gazdecki: Preparing Financials in Advance Boosts Acquisition Odds by 500%
“Having all that upfront gives a good first impression, shows you're serious about selling the business. And again, just increases your chances of getting acquired by a magnitude of an amount. I, I'd put it at like 500% in terms of Cause it shows buyers that yo…”
Andrew Gazdecki May 23, 2023 ▶ 20:23
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 100 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more