Tracy DiNunzio

Vast majority of deals fall through. In my business, we went through three separate sales processes. Each time we had what they call inbound, we had a buyer who came to us. And then it's incumbent upon you to go out and go to all the other buyers and say, hey, are you also interested? See if we can get higher bids. And we did that three times. The third time it culminated in a sale.

Vast majority of deals fall through. In my business, we went through three separate sales processes. Each time we had what they call inbound, we had a buyer who came to us. And then it's incumbent upon you to go out and go to all the other buyers and say, hey, are you also interested? See if we can get higher bids. And we did that three times. The third time it culminated in a sale.

Vast majority of deals fall through. In my business, we went through three separate sales processes. Each time we had what they call inbound, we had a buyer who came to us. And then it's incumbent upon you to go out and go to all the other buyers and say, hey, are you also interested? See if we can get higher bids. And we did that three times. The third time it culminated in a sale.

But the first two times I was sleeping under my coffee table.

But the first two times I was sleeping under my coffee table.

But the first two times I was sleeping under my coffee table.

It's kind of mind blowing.

It's kind of mind blowing.

It's kind of mind blowing.

Okay. For people who don't know what private equity is, can you sum it up in a nutshell?

Okay. For people who don't know what private equity is, can you sum it up in a nutshell?

Okay. For people who don't know what private equity is, can you sum it up in a nutshell?

And so when private equity works, it's amazing. You get all these smart new partners. They take a majority interest in your business. They help you grow it. And then you as the founder, you get some money, you keep some stock. And then in a few years, you guys sell it together again to another buyer. And you make even more money. And that's the good story of private equity.

And so when private equity works, it's amazing. You get all these smart new partners. They take a majority interest in your business. They help you grow it. And then you as the founder, you get some money, you keep some stock. And then in a few years, you guys sell it together again to another buyer. And you make even more money. And that's the good story of private equity.

And so when private equity works, it's amazing. You get all these smart new partners. They take a majority interest in your business. They help you grow it. And then you as the founder, you get some money, you keep some stock. And then in a few years, you guys sell it together again to another buyer. And you make even more money. And that's the good story of private equity.

The bad story of private equity and the reputation that private equity gets when it doesn't work among founders is that a bunch of guys in suits come in and they start squeezing the margins of your business and taking the heart and soul out of it. And instead of making it more valuable, they make it less valuable because they don't understand the founder mindset and growth mindset.

The bad story of private equity and the reputation that private equity gets when it doesn't work among founders is that a bunch of guys in suits come in and they start squeezing the margins of your business and taking the heart and soul out of it. And instead of making it more valuable, they make it less valuable because they don't understand the founder mindset and growth mindset.

The bad story of private equity and the reputation that private equity gets when it doesn't work among founders is that a bunch of guys in suits come in and they start squeezing the margins of your business and taking the heart and soul out of it. And instead of making it more valuable, they make it less valuable because they don't understand the founder mindset and growth mindset.

And you can end up then with an asset that's less valuable because And so you do see in some circles of founders, an eye roll happen when you talk about private equity. And when you see that, it's because people have had that experience.

And you can end up then with an asset that's less valuable because And so you do see in some circles of founders, an eye roll happen when you talk about private equity. And when you see that, it's because people have had that experience.