From Stalled Search to $750k SDE: The Power of Speed | Grania Michel Interview

Описание: Today's guest had been searching for a year and a half without much success. Like many searchers, Grania Michel started out looking for the perfect business. She sent out LOIs cautiously, only when very serious about an opportunity. And she kept to herself the fact that she was searching, not wanting to invite skepticism or discouragement from her network. Finally, a confidant who did know that Grania was searching, pressed her. We keep having the same conversation, he tells her. What is it going to take for you to close? Let's say you had to close in 4 months. What would you do differently? Well that was the mindset shift that Grania needed. In two weeks, she was under LOI to buy the business she would close on, yes, 4 months later. Listen for how her approach changed after that fateful conversation. And if you're feeling stuck, ask yourself the same 4-Month Question. Here is Grania Michel, owner of Associated Photo & Imaging.

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Chapters:
00:00 Grania’s Background
05:13 Balancing Parenthood and Career
09:52 Keeping the Search a Secret
13:28 The Turning Point: Going Public
21:11 Finding the Perfect Business
30:28 Business Details and Deal Structure
40:33 General Manager as a Partner
45:12 Handling Work in Progress
50:38 Day One Challenges
56:42 Building a Strong Deal Team
01:01:17 Dealing with Employee Issues
01:06:43 Financial Management and Salary
01:10:05 Future Plans and Closing Thoughts

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ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.

Credits:
Edited by Anton Rohozov
Produced by Pam Cameron

#business #acquisitions #buyingbusiness