Buy and Build Ep 71: Beyond Organic Growth- A Founder's Tale of Strategic Acquisitions with Jordan Hammond
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Jan 9, 2024 Jordan Hammond, Founder of Genuine Comfort, shares his unique approach to strategic acquisitions, emphasizing the crucial role of transparency and trust. Topics also include starting a startup, building relationships with competitors, resources for sales professionals, and struggles with expertise and entrepreneurship.
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Early Entrepreneurial Journey
- Jordan Hammond's first business, started at 22, failed quickly, leading to bankruptcy at 23.
- He then started a room air conditioning distribution business in 2010, reaching $4M turnover by 2019.
Second Business Startup
- Jordan's second business was a startup based on an add-on product from a company he worked for.
- He saw they were under-servicing a niche market, which was a key opportunity.
Initial Growth Strategy
- Early growth was driven by Jordan's effort and a simple competitive advantage: product availability.
- The small Canadian market size, 30-35M, kept bigger competitors at bay.