#009 - Colin Keeley on All Things Hold Co’s & Buying Digital SMBs

Colin Keeley is the co-founder of Verne, a holding company for SaaS businesses, and the creator of IndiePE, a course for people to learn how to buy their first small business. This episode is a great primer on hold co’s and buying online SMBs for those interested in the space.

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(00:27) Colin's background

(01:00) What attracted him to hold co’s & buying SaaS

(01:40) Why the partnership with his co-founder works

(02:34) Investment thesis

(03:37) The investment he's most excited about

(04:12) Dream investment

(05:42) Why SaaS

(06:46) What he's learned from Andrew Wilkinson and Mark Leonard

(08:27) Proprietary deal flow

(09:46) Why he creates content

(10:53) 80/20 on due diligence

(12:48) How to avoid sunk costs in deal negotiation

(14:00) Ensuring a smooth transition post-acquisition

(16:49) How to scale and delegate

(18:10) What can be taught about buying SMBs

(19:51) How people should get into the space

(21:20) Building gradually

(24:10) Biggest challenges

(25:02) Missing infrastructure in SMB acquisitions

(27:37) The biggest reason they’ll succeed

(28:21) His definition of success

(29:08) How having a kid has changed his thinking about work

(31:04) His early parenting advice

(32:28) Final question & the work he's done to figure out what game he wants to play in life

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Spencer’s Twitter: https://twitter.com/sp1ns1r

Spencer’s blog: https://spencerkier.substack.com/

Colin’s Twitter: https://twitter.com/ColinKeeley

Verne: https://www.vernehq.com/

IndiePE: https://www.indiepe.com/