Journey of Acquiring a Business

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The chapter delves into the founders' journey of acquiring a business, emphasizing the importance of having a clear vision and tangible goal. They recount the challenges of gaining trust from sellers who deeply care about their businesses post-sale. The narrative includes anecdotes about the initial stages of their business purchasing process, showcasing their naivety and learning curve in deal-making.

Episode 573: Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) talk to Jeremy Giffon about how Tiny Capital turned $5M in equity into 30 profitable companies.

Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5

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Show Notes:

(0:00) Humble beginnings at Tiny Capital

(4:40) Tiny’s first acquisition

(8:17) 50X return on Dribbble

(10:14) Skip the cash flow statements

(11:57) How to spot the opportunity

(14:00) Chris’s superpower

(16:20) Stomaching aggressively low offers

(17:46) Make an offer and stop talking

(19:36) It’s not you vs. them

(22:06) "What would need to be true to make this deal?"

(23:03) How to crush the cold email

(25:15) Worst deal -- ignored red flags, lost everything

(27:00) Best deal: Mealime (25X return)

(29:16) Weirdest deal ($36.00 acquisition)

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Links:

• Tiny Capital - https://www.tiny.com/

• Dribbble - https://dribbble.com/

• Metalab - https://www.metalab.com/

• Mealime - https://www.mealime.com/

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Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com

• Hampton Wealth Survey - https://joinhampton.com/wealth

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Check Out Shaan's Stuff:

Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano