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About the Episode
Are you running an agency and wondering what your end goal will be? Well today’s guest talks about how leveraging his business relationships led to him selling his agency. Also, listen to the part of the show where he shares how to find the right investment partner.
Leveraging Business Relationships to Create Acquisition Opportunities
Julian believes that great acquisitions often start with good relationships. In the world of acquisition, there are many reasons why companies get acquired and a lot of it has something to do with relationships, in fact, some of his companies really came about because of relationships. These relationships translate into opportunities. It these strategic partnerships are what will let you give the bigger company (that you want to acquire you) an idea what value propositions that you bring to their company. There are so many other companies out there which will be competing against yours but at the end of the day, your relationships will be your advantage.
Finding the Right Investment Partner
Sometimes, we pick up a partner in haste just because we need cash infusion and that can be a mistake. As startups, we need to see business partnerships as, again, relationships. Find the right investment partners who will really be passionate about your product and who you can see you can work with hand in hand over the years. If you cannot see that or if you have a gut feeling that the relationship will go sideways, as much as you need that cash, walk away. Julian shares that they were in this position before wherein, they accepted an investment partner because of money and regretted it. He mentions that if he could turn back time, they would’ve suffered longer in finding the right partners.