1st Deal Done - Lessons Learned

We executed the LOI on September 30, 2022 and closed on March 6, ###-###-#### days. We've owned the business for almost 4 days. No real surprises... but maybe its still early in the process! The main thing is that we got it done. The best thing that we did was hire a management team that could focus on the project 100% and a M&A firm that was top notch. We have raised $3 million and would like to create more runway with a total equity raise of $5 million. This is an early stage company with lots of technology commercialization to do, not your typical enduringly profitable 30 year old firm. What we've learned is that products were installed, proof of concept was developed, and unfortunately, the sellers never followed up. That was next to impossible to learn in the due diligence process, but we were able to discern that and somewhat expected that. Now we are reacting to feedback from a place of listening and empathy. That has won a lot of goodwill for follow up and making things right. Will keep you updated on that one.

I started my independent sponsor company on August 16. To find two proprietary deals and then to be under LOI within a little over a month was interesting, if not rare. I believe in God's divine Providence, so I am walking through this day by day. Very pleased to be on this side of it and eager to execute this deal and begin looking for the next one.

Through this process, I have learned that you need structure as in all things entrepreneurial. What are your strengths and what is your context? What will you say no to? What will cause you to walk away? What does it look like when we do this deal? How will that impact our lives? What can I bring to this deal that makes it appealing? How does it work without me? And on and on. This is a fun journey and one that I believe God has specifically equipped me to navigate. Let the search continue!