In this episode, we have Hunter Durham, who was a Facebook employee who turned into an acquisition entrepreneur. During the interview, he shares his journey from consulting, to joining a marketing agency, to buying his first business, to being presented with the opportunity to buy two companies simultaneously. It’s a great story, and it’s a great mindset about buying a business. In addition, we’ll discuss what the worst thing that could happen when buying a business is.
Episode Highlights:
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- Hunter manages over 7 million in revenue per year and has over 3.6 million in business loans.
- He talks about how his background led him into eCommerce and digital marketing.
- He shares the story behind his first business, theylaugh.com, and explains what they offer.
- In the early part of 2020, Hunter was introduced to search funds, the whole search fund movement, and the ETA movement, and spent basically January to February of 2020 putting together the documents, building the network, starting to reach out to people I thought might be investors, and building the broker list.
- When e-commerce exploded, they launched an agency and it turned out to be their first successful business into entrepreneurship.
- For Hunter, business is about people in general.
- He shares that he loves reading books and getting powerful information, and that’s how it all started for him. Book : Buy then Build Walkers book. I got the buying a small business HBR guy
- He describes how he acquired his first acquisition and where it came from.
- As he talks about his first acquisition, he speaks about some challenges and obstacles he encountered.
- The importance of emotional connection when talking to the seller in the acquisition process.
- Hunter believes that the personal guarantee part is what prevents most people from selling their business.
- Hunter realized that in order to provide the best customer service, he needed home delivery furniture for his second acquisition..
- He explained how one deal ended up turning into two.
- His advice to entrepreneurs and researchers interested in acquisitions.
Tweetable Quote:
“It’s just about trusting that person to be able to do it.”
“ I do business to try to impact others and impact people.”
“The only unique thing that you have is you and your story and your vision and your goals for their business. And so I think if that’s ultimately what’s gonna win, you deal over somebody else, it’s you.”
Relevant Links:
https://mobile.twitter.com/huntercdurham
https://buythenbuild.com/about/
https://www.amazon.com/HBR-Guide-Buying-Small-Business-ebook/dp/B01KP33K4Y