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/
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