The Exchanges

Q Um, not, and not many, not many entrepreneurs get there. So, so congrats on, congrats on that position. Now, um, let's, let's pull back a little bit. Um, you built a great business. Um, you know, we won't go into, into too many details on the business. Um, again, due to larger acquisitions typically are under NDA. Um, but, uh, what, what made you decide to sell the business?

A Yeah. Well, yeah, just like kind of what I was saying before is a lot about like, I just realized I love to build businesses, and rather than scale them up, at least at this point in my life. And the second thing was, the business I built was something was very dear to me as well. And the the mission that was on and the value that was providing to people was very important. So I realized that if I were to keep in line with that mission, I needed to find a You know, buyer who can actually get it to where it needs to be. And if we were to reach as many people as possible with that, maybe I was not the person to get there. And so that was another reason of why I wanted to sell.

AI assessment note: “I just realized I love to build businesses, and rather than scale them up”

Q So I'm assuming since the time that you listed your first business and the time you listed, um, this larger, more successful business, um, a lot of, a lot had changed within acquire.com in terms of the services we offer, um, specifically, um, our M&A advisory service. Um, do you want to walk through just how that kind of maybe helped you, um, maximize your acquisition, find your buyer? Yeah.

A Yeah. Uh, so yeah, initially, like a few years ago when I listed on my previous business on acquire, it was called micro acquire at the time. And, you know, it was more of a self-serve thing. So I just listed the business and I just waited for people to sort of reach out. Um, when I tried to list it again, I did not really, I kind of expected the same thing, but I was pleasantly surprised to find out about the guided by choir program. And that was a, like, I was a game changer for sure, because I realized there was a lot I didn't know about selling a business. Um, so I had a valuable business, but I didn't know how to actually go through the whole process to sell it. And there was a lot of different things that, you know, the advisor I had Rainier helped me with. For example, What are all the different documents that you need to upload to sell your business? Like, you know, some people might think about pitch decks or something, but there's a lot of different things like, you know, having a transfer document that actually shows you, shows the new buyer what is going to happen after the sale, like what is involved, what, you know, what are we going to transfer, how we are going to do that, um, or like how to set up, you know, proper profit and loss, like all the different templates, all these things, um, But even after that, like, even after getting the first, um, you know, offe…

AI assessment note: “the advisor I had Rainier helped me with. For example, What are all the different documents”

Q our, our own, um, feedback on them. Um, I guess another question would be, um, what, what part about, um, you know, the buyer that you ended up, um, Selling the business to, did, um, what, what made them stand out or was it just the, the offer amount? Was it your relationship with them? What, what made you decide to move forward with the buyer that you sold to?

A Yeah, I definitely think it was the relationship because, you know, we also had competitive offers, but I think the relationship is really what made, uh, made the deal because, you know, as soon as we talked, we had a great relationship. We had a great connection. It seems like we were really aligned on, um, both our vision for the product, but also sort of in a strange way, our vision on life. And so we were both trying really well to make it easy for each of us to work with the other. And, you know, the relationship was, was good, it was growing, and then I actually ended up going to California and meeting the buyer in real life. And, you know, it, it sort of, like, felt like this was really the right person for the business, um, and he was the person who can take it to that next level, but at the same time, it felt like he was someone that I would enjoy working with, and he was, like, great to work with, and, you know, easy to work with. Um, and we had that connection and so it just like overall, it was really the relationship that made the deal happen. Um, and so, yeah, I would say that was the most important part.

AI assessment note: “I definitely think it was the relationship because, you know, we also had competitive offers”

Q So that's, that's huge. That's huge to know. Um, next question would be, um, how did you, uh, how'd you initially find out about Acquire.com?

A Well, I actually used them before. So, you know, I, I found you guys maybe a few years ago when I had another business of mine that was not necessarily, yeah, it was not necessarily like my, my successful business. It was more so something that did revenue. It, you know, it did over a hundred K in revenue. Um, we had a good product, okay content, but it was just not something I was really passionate about, and I was like, why don't I try to sell this rather than just shut it down? I put it up on Acquire, and within a few weeks, I got someone who submitted an offer, and that was very interesting because it made it very real, like, Acquire works, you know. Acquire actually is a platform where you can sell your business, and you can find serious buyers. Now, I actually decided to keep that business, and I tried to grow it myself, It didn't go great. It actually, you know, failed. Um, but I had it in the back of my mind that if I ever grow business again, and I decide to exit, um, you know, I know acquire.com works. And so, um, yeah, as, as soon as my, uh, most recent business got to that point, and I sort of kind of had a goal from the start, um, I reached out to acquire. And yeah, that's sort of how I knew about it.

AI assessment note: “I found you guys maybe a few years ago when I had another business”