Daniel Priestley

Okay, well, what do you want to do? Like, I want to performance manage them out. I want them out. I want to get someone proper in. Okay, fair enough. And then they go and do it.

Okay, well, what do you want to do? Like, I want to performance manage them out. I want them out. I want to get someone proper in. Okay, fair enough. And then they go and do it.

How big was that business?

How big was that business?

How big was that business?

So look, that's not going to be a life-changing exit. It's very common that that is a slow handover type deal. So what you do is you vendor finance for that one. And you say, look, the business is worth one times revenue. And you go, so you're going to pay quarter of a million and it's going to be over five years, 50 grand a year for five years.

So look, that's not going to be a life-changing exit. It's very common that that is a slow handover type deal. So what you do is you vendor finance for that one. And you say, look, the business is worth one times revenue. And you go, so you're going to pay quarter of a million and it's going to be over five years, 50 grand a year for five years.

So look, that's not going to be a life-changing exit. It's very common that that is a slow handover type deal. So what you do is you vendor finance for that one. And you say, look, the business is worth one times revenue. And you go, so you're going to pay quarter of a million and it's going to be over five years, 50 grand a year for five years.

And I'm going to help hand over over the next 12 months. And then if you can't pay the 50 grand a year for five years, then I get to take the business back in whatever form it's in. So it's secured against the business. So that's kind of a, these are these micro exits. Mind you, you can be on the right side. You can be on the other side of that. You can buy a business like that and it's epic.

And I'm going to help hand over over the next 12 months. And then if you can't pay the 50 grand a year for five years, then I get to take the business back in whatever form it's in. So it's secured against the business. So that's kind of a, these are these micro exits. Mind you, you can be on the right side. You can be on the other side of that. You can buy a business like that and it's epic.

And I'm going to help hand over over the next 12 months. And then if you can't pay the 50 grand a year for five years, then I get to take the business back in whatever form it's in. So it's secured against the business. So that's kind of a, these are these micro exits. Mind you, you can be on the right side. You can be on the other side of that. You can buy a business like that and it's epic.

Like you can buy a business that's doing a few million by just vendor financing it in and almost nothing down and the business can afford it. There's a lot of people now who want to retire. Yeah. And you can buy their business for nothing down. So that's totally a thing.

Like you can buy a business that's doing a few million by just vendor financing it in and almost nothing down and the business can afford it. There's a lot of people now who want to retire. Yeah. And you can buy their business for nothing down. So that's totally a thing.

Like you can buy a business that's doing a few million by just vendor financing it in and almost nothing down and the business can afford it. There's a lot of people now who want to retire. Yeah. And you can buy their business for nothing down. So that's totally a thing.

Once you get to a certain size, especially when you hit seven figures of profit, and then again if you hit five million US dollars of profit, you then get proper exits. And proper exits, what they're looking for is three things. They're looking for a core team of people who won't leave when you leave. So normally that's 30 people.

Once you get to a certain size, especially when you hit seven figures of profit, and then again if you hit five million US dollars of profit, you then get proper exits. And proper exits, what they're looking for is three things. They're looking for a core team of people who won't leave when you leave. So normally that's 30 people.

Once you get to a certain size, especially when you hit seven figures of profit, and then again if you hit five million US dollars of profit, you then get proper exits. And proper exits, what they're looking for is three things. They're looking for a core team of people who won't leave when you leave. So normally that's 30 people.

And they know that four or five or six might leave when you leave, but the whole business isn't going to fall over. So it's not founder dependent. So you want to have 30 people on a team. They're looking for what's called recurring revenues. They really want contracts in place for recurring revenue. So subscriptions, memberships, service level agreements, those sorts of things.

And they know that four or five or six might leave when you leave, but the whole business isn't going to fall over. So it's not founder dependent. So you want to have 30 people on a team. They're looking for what's called recurring revenues. They really want contracts in place for recurring revenue. So subscriptions, memberships, service level agreements, those sorts of things.

And they know that four or five or six might leave when you leave, but the whole business isn't going to fall over. So it's not founder dependent. So you want to have 30 people on a team. They're looking for what's called recurring revenues. They really want contracts in place for recurring revenue. So subscriptions, memberships, service level agreements, those sorts of things.