Acquiring Minds Stars Align After 4 Broken Deals
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Apr 10, 2025 Keegan Dum, former CEO of EGENuity, shares his journey from a challenging two-year search for a business to a successful acquisition and exit. He reveals the emotional toll of walking away from multiple deals and the importance of perseverance. Keegan discusses the role of software in the car wash industry and how effective pricing strategies can boost retention. He highlights the complexities of negotiating terms with investors and the significance of personal relationships in business transactions, showcasing his path to triumph after setbacks.
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From Failed Search to Acquisition
- Keegan Dumb initially failed to acquire a business after a 2-year traditional search and four LOIs.
- He later acquired one of those businesses through consulting and renegotiated terms.
When to Choose Traditional Search
- Consider a traditional search if you lack deal experience and need financial and network support.
- It offers capital, education, a support system, and valuable connections in the industry.
Self-Funded Search Stress
- Keegan observed self-funded searchers struggling with stress and deal desperation.
- This often led to looser deal evaluations or giving up after 1.5 years.
