Unfiltered The Price of Acquisition with Eric Guthoff Webinar Takeaways
Learning from the experts is a surefire way that you can truly dive into a new world—or one that you haven’t yet found success in, with confidence.
At Alley, we know that not only small businesses—but all businesses might be struggling to survive during this pandemic time.
So, we want to help you be the best business you can be through experienced business owners like Eric Guthoff.
With our virtual fireside chat, “Unfiltered with Eric Guthoff”, we offer a first hand account and insight into the world of a four-time business owner.
Being hungry to create a business is just half the battle. Although most entrepreneurs learn through experience, it’s important to, as Guthoff says,“stoke the entrepreneurial fire”, to keep the passion alive.
The Right Recipe For The Right Acquisition
As Guthoff's company turned five the question was not "how to be acquired" it was "how do we continue to bring value to our clients" and the only way to do that was to scale.
They asked the hard questions:
- Do we take investment money?
- Do we merge with another company?
- Do we join a collective of companies?
- Do we want to be acquired?
After deciding acquisition was the right path for the growth of the business they did their research. As Guthoff mentions, "You wouldn't marry someone without getting to know someone".
They set their criteria, made their lists, and got to know leadership.
"In addition to the importance of the people relationship building side, I would say find out how they plan to grow you like, or how can they help you grow? And what is the plan for this acquisition from their side. And I think if you can marry someone's plan on how you want to grow with your own plan of how you're going to grow, that's going to create, you know, a like minded approach to grow in a business. So if you have that, plus like minded people that know each other, get along, that's the right recipe. Don't ever just present your business vision without hearing their business vision."
Getting and Giving Back
Additionally for Guthoff, it’s always been important to truly give back. Besides multitasking—juggling a ton of different roles at any moment—having the flexibility to do anything, being humbly enough to be like a sponge to soak up growth, and have an influence of reaching out for the right people, you truly have the opportunity to develop something successful.
And once you’ve found that success, Guthoff reiterates that it’s extremely important to be a business that gives back.
Even though the world around us is changing, if we’re put in a position where we can give back to the community and people around us, we can see our business grow in new ways.
Now, more than ever, your business and the businesses around you need your attention, care, and generosity.
At Alley, our team is focusing on supporting our community digitally by sharing resources and hosting video events. We hope this event and our entire event series can help keep your business stay connected to the community, move forward in development, and grow with intentionality.
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