Vested Capital
Vested Capital

Episode 23 · 1 week ago

(EP23): Kison Patel, Founder Of DealRoom, Digitizing The Workflow For M&A Using SAAS

ABOUT THIS EPISODE

Kison Patel is the founder of DealRoom.net, a SAAS platform for managing the lifecycle of mergers and acquisitions.

Kison spent ten years of his life running his own boutique M&A advisory firm, participting in some way with 363 asset sales.

During this career, Kison noted how many processes of deals were handled with very 'old' technology, for example using spreadsheets for tracking due dilligence. 

This lead to the idea for DealRoom, which at first as an MVP was an attempt to better document and add a communication layer to the due diligence process.

During the interview I wanted to learn more about M&A, as well as hear the story behind how Kison grew his SAAS company, which is 100% bootstrapped at the time of this recording.

I asked Kison for examples of deals he worked on, how he sourced deals, what's the difference between a business broker and M&A advisory services and we also talked about how he built what he calls a 'media company' within his SAAS as a marketing strategy.

If you're growing a SAAS in a legacy industry or thinking about starting one, make sure you listen to this interview.

Enjoy the podcast.

Yaro

Podcast: https://www.yaro.blog/pod/

Blog: https://www.yaro.blog/

Hello, this is Yaro and welcome tovested capital Episode Number Twenty Three featuring my guest Kisan Patel,the CEO and founder of Deal Room Ma Science, com and a merger, andacquisition specialist messed capital is a podcast about how people makemoney and put their capital to work. I interview start up founders, AngelInvestors, venture capitalists, Crypto and Stock Traders, real say investorsand leaders in technology. My guest today Keisan has an interesting storybecause I'm not really focused on any guest before who specialize in the NAspace mergers and acquisitions, which is another way of sort of saying whereabout businesses being sold and acquired by other businesses, orsometimes just being funded by private equity or banks, and in this interviewwe definitely get a bit of a background into that world. Keisan had his ownboutique merger and acquisition firm from two thousand and three to twothousand and twelve. It was called transatlantic investments and advisory.They did about thirty four sales for around three hundred fifty milliondollars, and I ask you soon to kind of go through some of the basics of whatmerger and acquisition is. How did he start the firm? How did he you know,get his first deal? What did that look like? It was quite interesting. It wasaround selling gas stations. You know it's a moral town, so not exactly whatyou would expect. We also talk a bit more about the different layers tomerger and acquisition. You know all the way to hiring a broker to brokerthe sale of your say, your website business. All the way up to the big Madeals you probably hear about in the news when some multinational firm isacquiring another multinational firm and the big finance houses are involvedwith those deals. So that's connect the first half of this interview and thenwe switch gears to his founding of deal room, which was or is his attempt todigitize the work flow of the merger and acquisition process. Now I wasn'tinitially aware of what that meant. So I had to kind of ask he son to explainso well hear how he started his company. It's a hundred percent boots strappedvery successful, now been running for ten years and it started with a simpleidea of just taking that due diligence process and digitizing it. So it'sbetter controlled than say just opening up a spreadsheet or Google dock orsomething- and you know- writing information in that, but also there wasa layer of what he called like a to do list and a communication platform,because if you ever done due diligence before you probably know this, thereare follow on questions, there's things that need to be explained and he wantedto capture that entire process within the deal room. Obviously it's now it'sgrowing to do much more of the process and it's a successful company. We alsotalk about his creation of Ma Science, which I thought was really interesting,and he put this really well. He said I realized- and I probably should e donethis earlier, but I realized as a startup founder. You really need tobuild within your company, a media business. I thought that was a reallyprofound way of putting this idea of you need content marketing, no matterwhat your start up is about I'll. Let kison explain to you know why decide todo that? How that helped? The business really finally grow. What that lookslike for them in terms of the kind of content they produce, and you canalways go to Ma Science to check it out as well. But yes, I really liked thatway of talking about content marketing. It's true because even with my owncompany in Boxton, we really do have like a small media arm, which I run,I'm the manager of it within the company, like we do in box management,email management for our clients, but there's this other part of the businesswhere we're helping to spread the word by, for example, you know sponsoringthis podcast I mentioned in Buxton. So...

...it's part of the content. Here we havea copyrighting team producing articles. We have social media sharing content,we're creating youtube video, so it is like a media arm within the start upand I've noticed as I've been angel, investing and getting more backgroundinformation about the companies I invest in. All of them are almost allof them start doing content marketing, building their own media arm withintheir business as a way to grow and also stabilize growth control itbecause other methods are very hit en Miss Papik Lick. Advertising can kindof maybe works. One day stops working next month and you got sort ofsponsoring an event, and it might be great when the event happens withinit's over, so it can be a real roller coaster where, with content, you startto, you know, be a part of the conversation online. You start showingup in search results and that's more consistent and dependable, once you'vebuilt up all that content and speaking of in box done. So today's episode isbrought to you by in Buxton com, which is the email management and virtualexecutive assistant company that I co, founded with my partner Claire. Westarted that business four years ago now and have been servicing all kindsof different clients in different industries like car sales, real estate,dentists, doctors, restaurant owners, online coaches, venture capitalists,Angel Investors, anyone who's dealing with too much email having troublemanaging their calendar and needs a specialist who's, just fantastic atwritten communication to step in and learn how to take over something asimportant and vital as your email. That's what we do and in fact we assignyou to dedicated executive virtual assistance who are specially trainedand hired to take over email, replying to messages, managing email buildingprocesses, documentation sops. All of that we do plus the typical virtualexecutive assistant task that you might be thinking about data entry, basicresearch, booking travel. We do that as well, but we really specialize on emailand are one of the only executive assistant companies that provide topeople as a standard. So you have redundancy so in case some one needs aholiday, maybe they're on well. They have to take a month off you're, notsuddenly left with this big gap in service. So we have that continuity ofservice with two staff members, and also that's two people who learn how totake over your business and your email, and you don't have to deal with thatissue of turnover and the training process all over again. So that'sreally important to us and that's why we do it if you need help with youremail or you need an executive virtual assistant had to in box done com allright now, let's dive into the interview with Kison Peytel, hello, Keisan. Thank you for Johnny MeToday, my pleasure. So I had to hit records right awaybecause I try and to do this kind of pre tovie questions and I feel like Ineed to record everything you're saying for the listeners, because I don't knowa lot about the space you've been operating in for a long time themergers and acquisition space. So I can look at your linkedin and say you arethe CO founder of Ma Science and also a deal room which is like assassin, theMa space, so definitely on to talk about those two things, but maybe as anoverview. You know what has been your life work. What are you you famous for yet happy to kick that off? I startedwith a career in emanates, working mainly with private entities by sideoutside with the focus in hospitality, a lot of hotel chains and then also in a small financial stitution was theother area focus of mine and pretty typical founder story work in theindustry. Long enough, you familiar with the pain, points and challenges,and you start seeing emerging trends in the text ector and start getting ideaswhich I noticed. Software engineers would use these really cool projectmanagement tools to manage developing software and thought why not for Minaand that led to starting a company...

...called deal room in two thousand andtwelve. That was project management for Mina and that's evolved into a fulllong life cycle management, product and we'll get a little bit of that. Andthen I was really fortunate again where about little over five years ago, afriend in marketing was like hey man, you should do a podcast and I was likewhat the Hell is a podcast and he's like. Don't worry about it, it's getnext big thing just got it doing and back then there's only about four orfive podcast covering Amana today, there's over fifty and we've donereally well, they have a lot of fun hosting of the podcast we have and were purposed a lot of that content and today have published over three hundredfifty piece of content. larose books just published her second book workingon a third one and that evolved during coved into doing virtualevents where we run these summits about three to four times a year, a they'refun. We ten started an online school for Ma, so we've sort of combined notonly the technology component, but also the education and best practice, whichis probably the the underpinning problem in our industry, is that itlacks tanain around those best practices. If you look at all thesecompanies, they have their own way of thinking and approaching m n a so withthe idea of the platform or using a podcast of the platform was. Can we doa series of quantitative interviews and identify where the trends patterns andthe proven techniques that we can find in the industry and start documentingit, make it into resources that other practitioner GE? Okay? So I definitely need to demystifysome of this and, like we talked about of fair, it's helpful that I've notspent really much time in the MA world. I can think really to what is myexposure and probably a lot of the listeners exposure. As you see, youknow a news piece like I'm thinking right now, the most recent one wasthere's like the the rail company. I can re think it's the Kansas City, railor something is being acquired by one of the Canadian rail companies, and youknow T it's an acquisition of one big train company of another train companyand as a normal person, you hear that you think okay, it's they're, going tocombine forces and become one big company. One is probably bigger thanthe other and they're just going to have a large customer base service moreof the country and that to me- and I understand sort of the purpose, but Ifeel like behind the scenes, there's so much more going on before you add tothat question, though I actually would like to step back in time because, asfar as I know- and maybe this was or was not the case for you- I don'tremember any kid when you know mom and dad asked him. What do you want to dowhen you grow up and they say I want to be an ma. I want to be emerges anacquisition. So how did you even get exposed like what was the? What did youdo growing up? Initially, I my dad would say otherwise. He said heremember when you're ten years old and you would always draw these pictures ofcars and you would make it into a little book and here's these cars, likelasers and rocket boosters and you'd always put prices in the millions andbillions, and so I don't know I was always drawn in by pig numbers and I think running a practice was great,but when you run a boot practice, you run into that glass ceiling. Where whatdoes that mean, though, when you say running a practice, what does thatactually mean advising your advising organizations on their MA activity,whether they're, buying or selling? It's a fun business? The challenge Ihad with the was the two part one. Is You get a chance at the hundred milliondollar transaction and you wouldn't get it? It always go to a brand name firmand then the other thing was your living deal by deal like you reallylive you by deal that first year we had the recession back in o six odd seventook a big hit. That was tough. That was nerve racking and your hey. Do Istay on path and hope that it gets better next year, do a pivot and trysomething else indifferent and that's what ultimately, what I did start ashifting towards the technology space? Is this transatlantic investments andadvisory? Is that your initial...

Domina firm? That was the firstpractice I ran for almost ten years. Okay, so let me ask the basic questionsaround that, which I D be, that time of your life as well to the purpose ofyour company at the time. There'd be one company thinking about acquiringanother, and essentially they need consultation on the nuts and bolts ofhow to do that. The financing, the combination of staff leadership is thatand then you come in with the expertise to advise them on how to structure thathow to get financing is that kind of, roughly speaking, it yeah. If you lookat a typical private company, when you look at the fundraising part of it,when you look at that when they, if they sell and if they acquire otherbusinesses, they're pretty infrequent events that happen, they don't reallydevelop this expertise in those areas. They're really focused on the corebusiness that they have so as an advisor you're able to assist and bringthis experience and expertise in those areas. I'd say most of em in a isfocused on SALESA. South side tends to be the more lucrative part they get.The traditional investment banking model up to kind of take a company runa auction process, get the highest price for it and sell the business. Ipersonally love doing the by side work. I had so much fun out going out huntingfor deals that probably really thrived off of, but in the money's in the cellside. Why is that? Just because you're takinga cup of the final sale price of the business it is you got to cut of thebusiness if you have something for sale, it's almost like INEDITA. It's going tosell at some point in time, somebody's going to buy it. It may take a monthand may take a year. Somebody will eventually buy it and you'll get yourfees on it. On the by side. You could you need to be careful about who you'reworking with you could be working with a buyer that may seem like a seriousbuyer, but they may never buy anything. They may keep pass past past an a lotof frustration and if you do get a retainer on the by side,it's usually not much either way, I'm by yourself side, but on the soul sideyou'll typically get your die deal done. so forgive me for being ay basic here,but the day you decided to launch Trans Atlantic investments and advisory. Howdoes that even happen? Like do you have deals in the pipeline because you knowcertain people who want to sell their company like what is the trigger pointand then like? Why do you even believe you know you can enter because I feellike, like you said before, there's a lot of big fish in a Mina, and I why choose someone who's just comealong and saying, I could say your company versus go to a big establishedplayer and is that more to do with the size of the company to like smallcompanies? Don't qualify for the bigger players, they need to look for morewitie firms- I'm kind of guessing here, butis that is that right, yeah? Absolutely I came from a unique spot. I didn'tfollow a traditional path where you often would get intoo investmentbanking start as an analyst and work. Your way up. The ranks I came from a real estate backgroundwere essentially failed as selling houses and found my way into this tinylittle emana advisory shop that somehow figured out how to generate a lot ofimbound interest and they had primarily various Indians that were responding tothese these post that they put online and they hired me as this young Indiankid to go deal with these Indian prospects and go sell them some smallbusinesses, and I did I started doing it and had track. I had fun because Iliked I like the PLS, I like the numbers, I like, building a storyaround here's an opportunity, here's how we can reduce expensive here, howcan grow revenues and did well doing it but realized the firm itself had somefaults where they didn't have a clear strategy in there, where they're tryingto build their expertise in and that's where I decided a year after into it tostart a practice with a focus in...

...specific verticals and that led tostarting our own firm and it's tough. It's definitely hard to get out thereand start something new. So never forget it. I can imagine I think withthat. The other part too, when you think about the size of the firm andhow we got the traction, there's a little bit of understand the model fromthe experience at a firm but ultimately came down a great thing, just beingreally young, as in my early ties and up not being afraid to lose anything,knock on doors and show people how willing I was to take chance to put inthe best effort, I can be extremely responsive and it worked. It good gotfolks to say all right I'll give you give you a shot here and ended upbuilding off of it made some success happen. Can you share, like your firstever deal like what? What was the compannee allowed to disclose that andhat? What did you? I know it's you know so long to go and I'm friends with theguy now so you know I started this practicedowntown Chicago, and I remember renting this office and the linen LayLord even know what to do with me because there, the the representative,because I'm asking for a month a month least than I had like. I just wanted totry this out, see what happens and I ended up talking to the owner of theproperty worked out a deal got this little office going ran out of capital.I thought, Hey I attend grand was enough working capital. I was fortunateof my Dad Lend Me Thirty K just to keep things going, and I thought I was. Iwas done because he's like that's all, I'm not going to lend you any moremoney. I don't really believe what you're doing here. I got so lucky thatI came across a three and sixty three assets. Sale of a company called moreoil out of Indiana and they had a small portfolio of little gas stations, fiveor six of them that they were liquidating through a bank process, andI got to represent these assets and go through and sell them, and the firstone I remember selling was a tiny little and I remember this deal withsuch a good deal that I kept running or trying to ask family members. A lot ofthe family members are in these different type of retail businesses andnobody wanted to go out there. Nobody, like that's too far too far away fromChicago and then ended up finding this Guy Online, who that's all he did. He buy a businessturn it around and flip it sell it go, travel somewhere else, do the samething and that's ended up selling it to him for remember the business that wehad in that two hundred and ten thousand, I sold it him for two hundredand forty thousand, and then three months later I sold the same businessagain for five hundred fifty thousand. So it was, I mean I'm watching this guymake about three hundred sand dollars in three months and that you know wegot decent fees to start building out the practice and pick things up fromthere. But do you do you mind sharing what the fee is for like a deal likethat? Is it enough for survivor year a month? You know the small deals and we talk alittle about the size fit with firms. These small deals that it really varies.You can do up to ten percent on them. Ye gave you like Twanty, I chargedthirty sand. I sold again for in fifteen cap fifty K, so those smalldeals you can get up to to ten percent and I think when you get over a million,it starts tapering down. They'll use these different models like the laymanformula or whatever you negotiate. If your savvy advisor. I think, though,when you do look at the size of deals, there is a bit of a nature of fit to it.You don't want to be. You don't want to be a midsize company going to Goldmanat because you're just not going to get the attention that you would with a midlevel bank. That's so there is some some truth to right sizing when you areworking with these different, be it like a boutique man, a shop or aninvestment bank. I think that that's important to consider. I think a lot ofpeople will get overly drawn in the names, but you start going to the city,the the pms they may bank you, because a lot of them are browning up andcreating a middle market focus, but I would really pay attention to the teamyou're working with and make sure...

...that's an area. That's they're going toprioritize for them, and it's not something.That's left up to the side and who knows what happens? Do you mind justclosing the look, because this really helps explain the full process. So, ifyou're getting ten percent to sell this small gas station, you know out in asmaller area and then sell it again when the new owner wants to sell it.What do you actually do for that? Ten percent like what is the you bring thetable that yeah good thing is marketing. One part, I think a lot of people don'trealize when you go, sell your business there's a ton of prep involved and especially, if you're going out tomarket, you may be dealing with two types: unsophisticated and sophisticatebuyers. Sophisticated buyers are ones, may be the right buyers that they'rethe ones that re going to pay the best price, and you need to be reallyprepared because they're going to do a very formal diligence process andthey're going to have expectations to see things they want to see clean books.They want to really be able to have clear answers on the things that theylook for when they identify risk in their deals. The better you clean yourhouse and have it ready to go but smoother and better. The price is goingto go otherwise you're going to keep opening up these little red flags thatwere going to require clarification. It's going to slow down your processand just make it frustrating and more headaches than youneed. It's really important to have somebody that can help you prepare yourbusiness for that process and then going through the marketing phase. Ifyou have somebody, that's worked in the industry. If we're selling hotels, that was one I worked in and understand.Who are the key players given the size of the deal? I know I can make a quicklist of here's. My top ten that will go to and then I'll blow that out andmaybe find additional forty to make it fifty and say: okay, I'm going to run avery comprehensive process. These are the people I would go out to and withthose kind of assets to, you can be a little more public and maybe run amarketing process that that's pretty broad and then you'll spend the time tofilter out those potential buyers and qualify them. And then once you gothrough that process and come to some terms and have an lo, I signed than aformal diligence process, happens or Conformato y diligence and that thatgets pretty tensive and when you think about the visor's role, there's onehelping to filter the buyers, helping the client understand the differencesbetween the buyer and may not just strictly be go with the highest price.Now nowadays, especially, sellers are very invested with the organizationthey built and they want to see it continue and they want to see the teambe in a good place that they want to make sure that things will be alignedfor them as well, and that might not be the highest price. You know you mayhave a company with that. The cultures line better and the there's going to bea better future they're planning to preserve the product or the other mayhey we're going to just destroy this and get rid of a competitor. There'sdifferent views in understanding. What that post close, what the strategies ofthe buyer is an important factor and that's something with advisor can helpyou with some of the considerations and then the diligence, I think, is reallyimportant, because that process is so intensive and if you can imaginegetting hundreds of questions and a lot of follow up questions, so you get abunch of requests for documentation which, if you did your housekeepingit'll, won't be as bad as it could be. And then the you'll get an additionalfollow of questions like Hey. Maybe you had this lost you five years ago, likewe want to know, there's no little things they're going to creep back fromthat. Let's have some clarification questions that advisor will help withthat, because otherwise, that diligence process ends up becoming so distractingfor your management team that it could potentially affect the performance ofthe business while you're transacting, which should be a bad thing. You don'twant to be doing a deal and all of a sudden you, Mr quarterly goals orexpectations, and then they raises more concerns with that by so helping tominimize the distraction, so the...

...management team can stay focused onoperating. The business is another key component that a r a seller provides aor a visor provides his value. Okay, that's interesting. You're, making methink back a previous guest of my show, Bard Hall, he sold a company calledwave and he talked about how they made them as take him and his co founders ofbasically telling it themselves and realizing. Oh, my God, there's is somany documents they had to get created and signed. You know the legalprocessing and they were like. We should have used a broker, so he usedthat term like a broker to broker the or selling agent, and it's funny likehim and a it sounds more like this Wall Street term that you hear about youknow in online and finance papers and websites, and so on, where I grew up inthis world of you know. UCELLO website is not selling a business, it's simpletransaction, so I like that they're really the same thing ultimately justat bigger scales, I'd love to talk about that. In terms of the almost tenyears you were running your own practice. Maybe two questions totaldeal volume and is there, like you, remember your biggest deal and whatthat was like. We had a lot of mist on the biggerdeals I feel like. I had a handful of a hundred million plus opportunities andreally missed them all the bigger deals that we did were actually financeprojects that we were refinancing hotel assets in the fifty sixty milliondollar range. Those are probably the bigger ones. I think you had a goodpoint, the terminology to when you hear broker, I think, a business brokers asthe mom and pop shops, if you think of where I started with those littlecomedian stores, gas station type of deals and then, when you start movingpast ten million, and now you follow in this man advisor category, which istypically still unlicensed, your maybe you got registered, you know inIllinois, you register with the state and just something there, but until youget to a level as an investment bank you're registered with Enra, so I wouldsay those might be the buckets to distinguish that hey. If it's a reallysmall transaction, there's a whole pool of business brokers out there, but thenyou move into the Ma visor when you start getting to this this mid market.You know that tend two hundred million and above two hundred million youyou're, probably working with a licensed investment bank. Okay, that'sreally interesting, useful all right. So that example of like your biggestdeal, which is more of a refinance. Are you just going to private equity, wherecompany is buying a part of the company to help them finance like what does arefinance? Actually look like? We were doing it through large bankswhere credit wees was a big bank. I would work with to run those kind ofdeals with and then local banks as well so that yeah. That was an interestingthat I think I found out was working with the hotel assets. They fall kindof hybrid between business and real state asset. So it's an there's prettylucrative just going through and refinancing them, picking up like halfa point just for putting those deals together and then the if you were working withreal estate developers, then you can do a lot of things. I think we did a hoteldeal over. Did the acquisition for about seventeen? Eighty million thatyou pull construction loans out with that sort of package, the finance with it aswell. So yeah then turn around and sell it a year later yeah. Because thatstarts the relationship right. You help them at the financing and then then,when it's time to sell, they come come back to you as well or or time to buyokay. I love to May move your story forward Keyson, so you, like you, saidit was a bit of a that kind of business model where it's you're always lookingfor a deal, so it maybe doesn't feel super comfortable in terms of stabilityand like, and then you mentioned, that was like the GFC, which really impactedthings for you. What led you to transitioning and and correct me if I'mwrong here, did you literally quit or leave or sell your own firm and startssomething completely new, or did you kind of start getting parallel like aside, Hustle Sass, while you're still running your own firm yeah? It was I winded it down slowly andduring the recession. where I does, I...

...think our peak we had about five people,so the really small firm. We did a good job, though people always thought wewere a much bigger firm than we actually were just did were veryefficient, handled the good volume of transactions and then just want one. Iwinded it down, went it down the office and basically offered as a solepractitioner during the recession, because there really wasn't deals goingon probably gotten involved with a few liquidations that were result of therecession, and I started dabbling around at the teck at the same time.started. Getting involved with mark text start up that then ultimately panout, but it led me to understand this whole ecosystem of the software spaceand the tools that these engineers used then started. The company deal room intwo thousand and twelve, but that was tough. That was a lot of a lot of lessons learned the hard way.I think a lot of people get started by ideas. Yore AL, you know the face aswell, and you probably say with me: Get the phone call. Here's someone's friend,that's wants to to do a start up, and I think I got one this weekend actuallyand you're trying to be as nice as possible. Tell them how brutally hardit actually is and that you think of a restaurant like a restaurant. You know you got to knowhow to make a great product getting out to have a lot of certain things that goright. Weye got to have a good location. You gotta have a good structure,property, good, Ombian, great menu, structured, good cooks, things to makea good meal. I think I like ten things that really got to go right, but thething is like it with that kind of business is really visible, like youcan see pretty clear. What's going on and what's going at tech, its the samein terms of having things go right, you got to pay attention to these pieces,but a lot of them. You can't really see so you're very much dependent on ifyou're, not a technical, founder and you're, relying on developers to write.You know a good code and functioning code, and things like that. So it'sreally different dynamic and he's a lot more pieces involved with it. I don'tknow it's and that's the thing I think. Ultimately, you got to realize: There'sa competency of building a great product at the end of the day that youneed to make your goal, you can make crappy software and nobody's going tobuy it or you can make great software. Do you understand that competency? Ittakes to actually build great software. That's the one thing I didn't realize Isort of assumed like a consulting practice. You can kind of get it goingand iterate on it and figure out these pieces as you go. Software is a littledifferent, it's just you! So there was a lot of hard lessons learned that Ithink looking back at it, it's it seems obvious now, but there was definitelysome struggles in the. What let me t take us through it. So I'd love to knowyou have this idea, you're winding down your actual boutique firm deal flows,not so good to FCS happening, but then you're also thinking. I now have spent a decade in this space.I see the need for a software solution to something that goes on within M N AI need to go, hire a developer to l to build an MB NB. Is that kind of yourthinking at the time? Yes, you have an idea. You want to hiredevelopers. I think, there's a couple things one. you start getting obsessedwith wanting to build things right, thefirst time and the other thing the feature creep.You have this idea and he thars thinking about like all these possiblethings that your user would possibly want. You end up with this giant outliea functionality that so you sort of naturally go theopposite of an VP and building a prototype to just to validate yourbusiness was, I think one is sorry. I just gonna ask what with an example,what was your initial idea like? What was there your I had a vision for andand management of, Mana that was in that we ended up starting with well. If you look at a deal, you gothrough the phases and I got to flip it...

...around because back then were veryfocused on sells, so they were very focused on by side. So then it's likehey. You got to go through the steps to prepare company. Take it out to market,find potential buyers for it, manage a diligence process and then give them ahand off of all that information, so they can run with it and go throughtheir integration process. That was the early thinking in what we wanted tobuild and there's just a lot. There was a lot. There was a whole marketplacemodel to connect buyers and sellers. That's where we thought hey, let'sstart off with the beginning, part and start building the environment, toconnect buyers and sellers, but I think that the thing is you don'trealize. The thing we didn't realize was there are a lot of differentproblems that were trying to solve all at once. You need to solve one thing at a timeand solve it really really well validate you solve it. Well, then,figure out how you can scale that solution out to others, then look atsolving the next problem, and we, when we started to there's a lot ofassumptions that we had from our prior experience, that we did these smallertransactions that we thought would apply well to the middle market. Thatwas larger size transactions that weren't true. There were assumptionsthat were dead wrong and we paid for him. We started this launches productstarted marketing it as a marketplace acquired about thirteen hundreddifferent users and two hundred deals listed and realized. We built asophisticated dumpster for deals because they were all just stuff thatnobody in the right mind would invest in. Are you talking kind of like a flipo? I don't know if you know flip of the online market place for websites. Itwas sort of like like that yeah, but we did have a digital focus.It was all kinds of businesses. I think what where that's was therealization that we need to go back to the drawing board. I was fortune enoughto have a good friend to walk me through and elaborate hey. Think of the lean start,a model like really focus on the problem: you're solving go through aseries of these customer development interviews, validate the problem,you're solving then validate the solution of developing, and we did that.We just took a step back started doing. I think we did our goals do about fortyof these interviews to really understand different CO, hurts ofpotential customers and what their pain points are and validate them. There'sboth like the science and art to it, because a lot of people tell you whatyou want to hear, and can you design your Quan you you want to hear what youwant to hear too. So can you design your questions to be as unbiassed aspossible and be very objective? When you conduct that that type of interview, then we did these interviews andrealize that it's not finding that the opportunities that people have aproblem with is the management side. We rarely started focusing on managementmodeled out solutions. I know people who do wire frames, but I don't feellike the general public, doesn't understand why re frames really well,so I always encourage go on up work or whatever platform and either findsomebody overseas or find a student. Have them do some basic mockups, so youcan present it and do those same kind of interviews on the solution valid ofthe solution. What I later learned is, while you're valeting the solution, youshould also validate your go to market start understanding. Where are thesechannels? How are they going to buy your product, and what's that going tolook like because again, we fell back in assumptions and went to market thesame way our competitors did, which was a terrible thing to do. That was not agood idea at all. They have a totally different product, different businessmodel that justified them doing the way sold, selling the way they did withfield raps and unlimited expense cards and things of that sort. Could you C NYou make that tangible? So when you took a step back, you start doing bothproblem research and go to market research. What did you then identify asthe problem, and how did you go to market with that? That first versionthat I feel like you're getting to the point where you actually got somethingthat got some traction yeah though the first big thing wereally Lazeretto on was the diligence...

...process that, when buyers and sellersgo back and forth, the buyer has a lot of documents they need to review andthey have a lot of follow up clarification, questions that comeafter in the current state, the customers were. The customers in thiscase were using excel trackers the he's an excel she and build a tracker tomanage all this request or information and questions, and it got tedious quickly becauseyou're bashing everything it could. This could be hundreds over a thousanditems depending on the deal size. Then you have follow up questions that go onthe same tracker and now you're having a discussion on an excel sheet. That'snot very clean at all, found it very to be a problematic pain point for these customers. That's where we reallyfocused on for a solution, and the idea was hey. We see these projectmanagement tools of softer engineers use. Why don't we do something likethat? Why don't we take this data security platform, the virtual dataroom that was commonly used in the industry to exchange the documents andthe difference between a data room and your typical drop box. Some additionalsecurity features they'll have automated water marking, so yourdocuments can be watermarked. If somebody sends it out to the wrongperson, you know who leaped the document out: it'll have their log intime they accessed it and everything laso. You can put very very granularpermissions in the date room environment, so it may be. I want tolock everything down, so it's you only, but there's a sex hale model that I'mgoing to give you access to download and tinker with offline. We verygranular permissions and then auto trails, very detailed, auto trail andeverything that's been touched in the whole data room. So the idea is that Iwas standard in the industry. People always use these data rooms. Why don'twe just put the to do list on top of the date room to manage all that backand forth? And now you can do in a real time environment just like the projectmanagement tools and essentially bring work flow to the industry and that thatwas the first first thing we did, but it was still tough, I think, with thenature of the industry and the deals that we're doing people, don't trustthe new new kids on the block with a solution, because, like hey, we'redoing on a million dollar deal here, why should we use his brand new productnobody's ever heard of? What will our client think? I think bankers tend tobe conservative? It was really really tough. Lot of brute force, knocking ondoors hitting people on on linked in just constantly knock knock knock. Iwas fortunate. I had a bank Felix Felix down into from encore group. Just gaveme a shot to day. I got a client they're going to go on a TorontoExchange. The Ip work won't you, you know, let me get you this deal, helpyou get gone, I did and then, from there I picked up. We started workingwith all state and some other companies and, and things started to picking up,I think there that part was it was. It was tough too, because when we startonce we start getting the live deals, then you realize that hey you builtthis product, but it's not really built for scale. So and that's the thing youknow we're going through all these iteration with the prototype mindset.When now we had to shift how we rebuild a product for scale, what was it aventure back company like was: Did you get funding for deal room or is it thatbut trout, Brutta, okay, so you're pouring in allyour your previous profit from your BRUTI agency into the hope of a asoftware program taking off basically that that sort of hard core orangepener mentality it it was hard. It was all really toughdoing it. That way, I think at the time we originally looked at raising somecapital, but Chicago was in the super. It's not like a Bay area where peopletake bets and take chances on you. They want to see a significant amounttraction, so the the only term she we got offered was terrible were like well,I might as well just keep investing more money into it. Take us for withthe de Rom Story. Is it's ten years later, you're still like running thecompany? I believe you, if I'm CEO and founder, are going tolink in still upand running. So what was the like...

...process of scaling it and it soundslike the initial door knocking led to your first client, which means you'vegot social proof to help get the second client, and I can imagine maybe word ofmouth- starts to kick in, and that starts spreading. The word too, but like at what point? Did you feel? Okay,we're? Okay? Now this is a functioning profitable business yeah. I feel, like everything, youthink, would be a driver to drive it forward, like what you mentioned didn'thappen like where the mouth wasn't the thing and and now it happens when youhit a significant scale, but I wouldn't bid on that. I think we thought thatthere was going to be some inherent virality with the product, because,when you host a project room you'll end up inviting a hundred plus users intothe environment. We assume that hey. If these users come in, then their in turngoing to get a good experience and want to use the tool for one of their otherprojects. That happens, but it didn't happen like the way we thought it wouldthat wasn't a natural growth through that channel. We were one bigdifference. Is We realize the banks were not early doctors? There werespending all this time, energy trying to sell them, but the corporates wereactually early adopters. They were much easier to sell to. They wereincentivized to great value and improve what they were doing. Drive efficiency,where banks often weren't there was a big disconnect between the leadershipand the folks actually used our product and the folks that use our product.They didn't care about, improving the process. They were there and for ashort ride. They know at the end of the year, they're going to quit and go workon the by side so that they don't care they're just going to do it the waythey do and get it done and get out and then plus the competitors were buyingthem all kinds of treats, they're taking them out, buying and ball gametickets, and all these perks so you're competing with that nothing. The day atthat's what one of the hearts of these junior bankers. When we work with thecorporates they're sophisticated, they are all about creating value anddemonstrating that to the seniors that that's what they're doing and andframing themselves to get promoted and deline yourself. With that, that's agood thing, so you know we kept going along pretty reasonable pace. I think one other bigchallenge you came across was your distribution model. I feel like you gothrough this whole heartache and struggles of building a product gettingmarket fit then realizing like you need to rebuild everything, and at that timewe d rebuild our our tech team to build for scale and okay, now we're now. Wejust got to sell the thing and realize that that's actually harder thanbuilding the product and all that perspiration you just went through. Yougot to do double down on it and we started hiring sales raps. We didn'thave a marketing function, they struggled ended up. Only one of themsurvived she's heading our client success team now Julia, but we ended upmaking some fault start there that was expensive. Then we shifted, focus builtthe marketing function, which I think that going back. I would definitely dothat in fact, yea, if I were to start a tech company today, I would makeclearly part of the strategy is to build a media company within the TechCompany, because that's what's created our all our tail went today is when westarted podcasting expanding, creating all these series of contentscollaborating with subject matter, experts really building it. That's really helped a lot, but so webuild the marketing function. We've been doing that the last four years.That's been a huge difference. We've got tons of IMBAUN leads sales, repslove and bound leads, and then, when they reach out, the people have heardof us more often than not. We've got tons of colateral tons of resources.Events to invite them to all these things that marketing supports in thoseefforts are everything is becoming more digital, so the interactions you getare tend to be more through the marketing channels. First than thesales channel. I love the way you put that build a media company within yourstart up, I call it content marketing.

I come from a blogging in a podcastingbackground, so it's natural for me to see content and media as the way toreach people, especially at low costs- and I mean I say: Low cost is a cost tocreate the content, but then, ideally, it sits out there and keeps bringing invalue and even my own company right now I run an email management executiveassistant company called him box done in our main marketing channel is yeahit's a kind of like an in house media company. We've got copywriters, I'msomewhat doing it right now being on podcasts. I even talk about my companygot a sponsor for this show, so it's all kind of interrelated. Take me backto the decision you made. So you said it was about four years ago. Yourealized you needed to start producing support education and content. How didyou start that we just needed marketing? We didn't have marketing and like wedid at marketing. I did that the lot of the fabled mistakes. I hired the hotchat c Moe with the apple or Rolla background and was the failed higherthan I ended up. Bringing somebody mid level about five years of experiencecoming out of an agency was able to participate as an individualcontributor started, creating social media. I just kind of sat back likeokay, let's see what that does, and then she started creating the blog andgetting that going and then started building out some contract writers, andnow she runs a function. Whole function. We got more than ten people inmarketing alone for a company. That's just passing thirty head count, Nice!Okay, so did you notice an impact? I know. Content social in particular isnot known for an instant results, a Didi it sort of play out like your onewas not so good or it. You know it was interesting becauseit was very much an SEO first approach which isn't common and- and that waspartly because of the budget, and we don't have a bunch of money where youtypically would spend for a lot of paid ads initially to try to validate proveyour model, quick as you can, and then you build up so once you have that dadin and we just played long on so which looking back at it was probably areally good decision, because now we do extremely well, there leads boy back.Then we didn't we'd have a thousand business to the man a website a month,and maybe we got one lead a month. Now we get a lot. I think we captured likenine sand context, just this last quarter, yeah, and then I don't. We hada lot of we a lot of trials coming in Demo, request well into the hundreds,so yeah. There is a lot a lot to be said of the value that it's createdwith the marketing function. So so what are you doing with this content? Areyou teaching people, the INS and outs of M N, a yeah? It's all educational, if we stepback when we think about our journey working with banks, starting work witha corporates and spending the time with that same model of solution selling. Ilet me understand your pain points. Let me introduce the solution, but inunderpin ent with a good business case, and why the solution is going to createvalue. We crickly realized all these come it wasn't the same story. We canbring them in to one another. They all had a unique way of looking at a andapproaching m a the R in the bigger problem. Industry was industry itself.It operated in a silo and lacked standardization and best practices, andthat was part of the idea. With doing a podcast was. Can we use it as aplatform to enable practitioners to share their lessons, learn and allow usto identify? What are some of these proven techniques that we can thencapture document and share with the industry and that that's what it's ableto really help us? I think podcasting and these tools out there is good, butif you can build it with a mission and that that was our goal was to nablepractitioners a share list at lessons learned, but now it's really evolved toproviding the industry with these educational resources. That's based offof evidence and actually use a bit of research from data, and it sounds likeyou're slicing up for the different sort of stories in the head of yourpotential clients as well, so like...

...niche within niche marketing is thebest place to check all that out is just go to deal room, Co and look atyour content, or is it so were do Dum da net there's? Actually a deal room doco, which we're good we're good friends with them they're a European basedcompany that does data for startups, and they I mean they've, probably grownup beyond that, but their Amsterdam based company were our main productline. Is Drilling got nat or am doing all this crunch base research on yourEuropean counterpart, then so yeah year year it happens all the time,but we mama science, so eminance that's becoming our umbrella brand. It'sinteresting! I wish we tied it together earlier. So now we operate both brands,but if you look at Ma Science you'll see, we have several product lines allwithin that that line, and then the podcast obviously drives a good amountof traffic to it. Both of them have tons of educate, and maybe you can helphelp because we connect the dots here to so. How would this work? I'm a afounder of a company, I'm thinking of selling it? I need, like I, Google Diligence Processfor selling my ten million dollar company you're, one of your AmanaScience articles comes up. I learn about what information I need and thenI also learn about deal room as a platform to manage that diligence.workflow is that kind of right? If I just describe a typical, maybediscovery process, I would say so on the cell side: It'spretty. It is straight forward. There are a lot of companies that arerepresented, so there are visors that would tend to engage with us and sayinghey. I got a client I'm working with to sell their business and they wouldactivate our service and help manage it. A lot of our contents focused becausewe do have a focus today with corporate emine and corporates will sellbusinesses, but more often than not their acquiring businesses when you acquire business. There's thewhole process of going througho sourcing deals that a lying with yourstrategy and doing the diligence from the by side, but the integration partis really complex. If you think about the big problem underpinning and the biggest problem with Ma today isthe process itself that we're still driven off of this twen year. OldFinance focus m a approach and it doesn't work. You end up with abunch of pissed off people that quit and take away a bunch of value at theend of the deal and you've seen it before you seen, acquisition go badchange was too erupt and it just dismantled the business created toomuch disruption. When we look at that process, weacquire a business. The integration process is the largest magnitude ofchange. Management on organization could possibly go through your pealingback organization in the years and years. It's decrated that er processprocesses lair by lair and re, attaching it to another organization sotrying to do that without pissing people off is extremely difficult andthat that's where today we talk a lot about building a people focused on an aprocess and really keeping them engaged, keeping the leadership from that targetcompany in the loop about what the strategy is for the deal. What doesthis integration go to? Look like, in fact we doing all this diligence on you.How about you do some diligence on us and understand what our organizationlooks like how you're going to fit in and be integrated into thisorganization and what that's going to look like and be part of that journey?So we can really work together on this and be aligned around the gold and whatthe outcomes are going to be versus keeping you in the dark and your hit uphit with these surprises and changes and getting the frustration, the fudfactor and ultimately leaving to disband thecompany. So yeah there's a long ways to go, but that's the the big thing we'rereally really focused on is improving the integration process. So there's abetter people experience. The overall transaction is better smoother. Moreefficient people are happier value,...

...gets realized a lot faster. Okay, soI'm curious. Now I Kisan the the day in the life. You would have previouslybeen this deal maker Guy Right running around looking for the buyer or theseller, and doing all that diligence and relationship building and and thenyou became as assass start out founder completely different role. Really Imean, even if it is in the topic that you you know about, you are trying todigitize work for a process that I used to do probably very manually, and todayit sounds like you're, almost in charge of us as company, but you're, also incharge of a media company H. What is it day in the life like? What do you workon personally? For you know the whole organization? That's a good question. You know thething that I really really love about being sat. I never get bored, I thinkwith it with amine you can. You tend to stay focused in certain verticals andgo deep in there and I loved meeting people the conversations, but whenyou're building a company in the learning never ends, you start off witha big focus on the technology, keeping up with it building a team around it.Then the marketing function understand marketing, never ends, there's so manythings you can do, but it is fun you can get very creative in that that partof the business now we're very much focused on building out the salesfunction and creating understanding, hey the bigger companies that we workwith the bigger problems they have, which is a better opportunity for us tobe able to solve big problems for large organizations that the outcome ends upbeing better revenues from that. So now now we're starting to build anenterprise sales team. So I think that's the the big thing is thelearning never ends. It sounds like you are doing a lot of hiring. I use atyour day to day just hiring an team team management, or I was going to saythe in terms of the day to day it bounces around they're, still doing alot of podcast for our stuff working to support the sales team when they needhelp. I think the hiring is a big one and it does fluctuate. We sort of gothrough cycles like we'll, tend not to hire towards the end of the year andearly the year, because it's either slower than very competitive in thebeginning of the year. So there's a little bit cycles that we try to buildaround in terms of hiring, but then obviously there's needs that come upand you got to respond to it. That does take a lot of time. I think the onething that I struggle with to spend as much time as I should is the clientvalue delivery. That's probably today's big focus is pushing and saying hey.We've acquired a number of customers, but if I go back and especially theones have been with us for a number of years, you realize that they've beenusing you for this one or two use case for all these years, but now you'veexpanded to manage ten fifteen different use cases, so there's so muchopportunity to go back and help them whether or not it's directly tied toselling another product and get getting more revenue, but just even the waythey could engage with your existing product and get more value out of it.That'll I help keep their L TV or keep their step them from turnips. Extendingyeah reduce the turn exactly okay, so I think that's the the big thing you know.Where was the? I know it's roughly, like thirty percent, you should bespending your time, at least at the minimum, with the customers, becausethe opportunities there that portunes there to understand how you can proveyour product, how you can actually go to market better, how you can expand onthose accounts. But more importantly, at the end of the day, your corecompetency as an organization is your ability to create value, and if you canexpand on that capability, the stronger organization you'll, be the morevaluable value you'll be able to generate for your clients and be ableto create that capability across your organization. That's what youultimately want to do. If you're constantly on the front end of the dealtrying to close deals, you don't really develop that confidency that you would,when you're actually focused on the value delivery part. So I would saythat's the the big takeaway of this...

...year is to really really focus on valuedelivery and got good. So it's like that client on going nurturing andmaking sure they take advantage of of what they're buying from you. It soundslike you're doing a lot of different things like being the media, I'm on thepodcast talking guy, then you're helping with the hiring, and I have nodoubt you making key decisions on who to bring into the team. And then yousound like you're working with established clients to make sure theysee and extract the value from you know what they're buying from you, so thatdoesn't quite different, very interconnected roles, but very holistictoo. It gives you a good sense of the front end the middle and the back endof your company. So That's interesting, Keyson, just to kind of wrap it up.Where are we going with this business? It's kind of funny to talk to a mergerand acquisition guy and not talk about one day selling your own company isthat sort of something you thought about on the other side of the fencebuying other companies to bring in to your own organization to expand thatway. Yeah there I mean all those are ideasthat are there that become more and more interesting to actually pursue. Ithink we're in a unique spot, because today we're still, we don't have any outside shareholderswere still tightly held. Company private and I think, there's a uniqueopportunity because I leverage it in terms of hey. This gives us muchgreater focus on the customer. We don't weigh our decision. We don't have aboard and shareholders that influence our decisions. It's focused on thecustomer and I'm interested in seeing how our structure can evolve to buildthe equity model, to incentivize the team in the company and be able tocontinue growing with them in that same capacity. So I think we still got along view on the stuff, I'm old, but not that old. I got at least anotherten twenty years to run at this, and I I seen that before you. I don't know ifyou ever talked to other founders about it. But if you look at like a businesslifecycle, everybody's so fixated on getting up within this like zero tofive year window and getting a big exit or poor or whatever. But then, when youlook at the real reality, these the real big successes didn'tblow up that fast. I mean granted, there's so many hoovers out there. Butwhen you look at a general, you know the median of these organizations we'retalking about a twenty year. You know to really see that big success and ifyou look at these venture capital funding models, I mean a lot of thesefounders are pushed exit, your ten and then velocity really kicks in. You seemassive amounts of growth that happens from your ten to twenty and they're onthe sideline or working in the next venture. Looking back at all thatgrowth happening, you know that little Y, a damn that could have been, couldhave been part of that ride. That's the one thing I notice you know we'rehitting about ten years. We had a lot of these struggles because of theindustry. I thought hey, we built the technology too early and what not so, Ithink we're hanging on and we're starting to see that things are reallyalighting and getting some more tail wind. You know we want to really keepbuilding off of it and then I think of the industry itself is now starting toshift in our favor we're we're. Finally, realizing we shouldn't be doing billionor deals in excel, but the now there's like here's all this emerging ai stuff.You know if you look at all the train, I gept three and things like that. It'slike well, a lot of this stuff applies really well to em an a. We can buildsome cool tools to summarize information and get the information youneed quickly when you have massive massive amounts of data you're tryingto analyze on a complex deal to understand the risk and theopportunities in it. So I think there's just tons and tons of opportunities to keep improving and driving optimizationwhen it comes Amina. I do have a question actually regarding pricingmodels. I just kind came to me with the nature of what you guys do, I'm lookingat it right now, your sort of starting points at a thousand dollars per monthbuild annually. So it's you know like a twelve thousand dollar kind of set up. I I think about, though theactual EMINA process doesn't lend...

...itself going, be crit, I'm wrong towe're going to need this for ten years unless we're actually a man, a firmthat consort bank, maybe that constantly does refinancing. But if I'mjust one like, if I'm the person s telling my company, I'm probably goingto sell one company every ten years at most, so it is it your customer basemore like the the a firms and banks and then they just bring in the personwho's selling the company for the purposes of that one deal, but thenthat person exits is that kind of the typical scenario we do have a goodportion, our business, that come from banks or even directly from the clientthat are selling, and that's where we have those listed prices as single room.I mean we're trying to build a workflow to let them just sign up on their own,because there's not a lot to it. We can essentially provide templates in thework flows for them to do it themselves are outbound efforts when we think ofenterprise sales is geared towards corporations and we put them in threebuckets. You have occasional acquires they might buy zero to one company ayear or, and then you have frequent acquires that they may buy a regulartwo to ten companies a year. Then you have serial acquirers, which you canthink of the apple and the googles microsopic go, and when we look at that,that's where we look at our space. Typically, it's a frequent acquiresthere one to ten billion market cap companies that do three or more deals ayear that have a dedicated corporate development team, about three to sevenpeople that drive the MA activity for the organization, that's our primetarget and then, in addition to that, our private equity back roll ups has alot of investments made in organizations toroll up industries. Think of specialized clinics. Dental practice is,we have a big, auto body shop, private schools, security agencies, a lot ofthose fragmented industries that are getting rolled up. Those are greatclients for us. We love talking to them because to be able to really build work,flows that are rents and repeat when their acquisition strategies very muchsimilar. It's a great opportunity to create value M. Okay. That helps me getmy head around your your target on the INSANO pricing model. Now that I thinkabout it, yeah one big organization could be acquiring twenty companies. Ayear you don't necessarily hear about them all it's funny because of doingthis podcast, I'm always on tech crunch, and I'm like this company acquired byFacebook, and it wasn't ever a big deal, but it was it's there on tech crunchand you realize that's actually happening every day really and multipletimes a day. If you look across the industry, so I can see, especially ifthe prior way of doing things with like excel sheets, and things like that. Youreally are just naturally digitizing at the workflow of an industry thatprobably didn't have it until you guys came along right. So I can see the needyeah, really nice, anything else you want to throw in a Keyson before wewrap up the interview, I think we touched on a lot of stuff, I kind ofmentioned. Our goal is wont to get more exposure to the industry, because Ithink there's a lot of roles in Ma beyond investment. Banking alwaysencourage folks to look at their website content and get a sense of that,and then just the people. At the end of the day, EMAS got to change and be morefocused about the actual people it impacts and when you lying around, the peopleyou'll result in a lot more value, that's created from these transactions,and where do we find you obviously deal room dot net for the the platformitself and Ma Science for the education, the media arm, the podcast anywhereelse? You want to send people to Linton, I'm on Linton, just K, IsonFatele and I'm happy to connect with books on there. I'm guessing anyonewho's in Ma or maybe even someone wos thinking of selling a large companywith you. Would you be open to hearing from them? Does that make sense? Or Ican talk about M a non stop? I don't have a problem I'll hit the recordbutton, we'll make a podcast out of it...

...and I'm happy. I love talking shop, I'm awelcome the opportunity to get involved. Answer questions we host a lot of roundtable events, some it things of that sort. So yeah absolutely happy to talkto you, but if I all things Imrie time, I was telling my company. I willdefinitely remember your name he's on so just for the case of having aconversation, so you use, have you gone through it before the no pony for small?We know website businesses, you know never like something where thediligence has been extensive and yeah. I know it's can be stressful, but Itotally understand the need, for you know as a minimum broker or ideallylike a full blown. You know for managing things, so yeah yeah I'll be ready for you. We'll haveUN plenty of resources to help. You Out Awesome Nice to talk to you, you on,keep out the good work. I thank you. I hope you enjoyed that interview withKison. It was a topic I haven't really covered much. So I'm glad we got tospend the first half of the interview just asking some basic questions abouthow merger and acquisition works, how he even makes money like what does an ma consultant specialist do to earn the ten percent or whatever the fee mightbe as part of the deal, and just a few of the insights and unique parts of theindustry that I wasn't aware of- and that was I think very, very interesting,and then as typical for this podcast, we got to hear a SASS startup story,which is also interesting. A boot strapped one though not a bench orcapital backed one, and you know it's. Obviously a company, that's succeedingand growing they're hiring a lot and they found their niche and reallyscaling within that space of controlling and digitizing. The dealflow management process so great needs to be in an obvious extension of whatPison was doing with merger and acquisition in the first ten years ofhis life in that space, and now this is the second ten years as well and, likeI said earlier, really enjoyed hearing him talk about content as such a keygrowth tool, marketing process, which he called like having a media companywithin or your start up. So I thought that was really insightful way to saythat if you enjoyed this episode- and you think any of your friends or familyor colleagues would benefit from hearing Keyson Story, please share thisepisode with them. This is episode, Number Twenty Three of vested capital.They can find that by just googling vested capital or go to the website forthis podcast. It's at Y, a R O dot B, l o g that Yaro dot blog look for thepodcast tab there and you'll find it so available on all the usual channels, sospotify apple, I tunes Amazon, Google podcast player, just search for bestedcapital or my name Yaro Y, a r O, and you should find the show and whenyou're there, if you have it open on your phone hit that subscribe or plusor follow button. So you get all of the episodes as soon as I release them,plus access to the full back catalogue of amazing interviews. I've done withguests like key son. If capital and cash flow are topics interesting to youor anyone, you know send them to vested capital all right, that's it! My nameis Yaro and I'll. Talk to you on the very next episode by Bye.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (78)