September 12, 2024
Unpopular opinion: Don’t celebrate when you buy a company.
You haven’t done anything yet. The paradox is the seller’s on the top of the world.
Risk vs. Reward
The buyer just advanced a bunch of money and has a mountain of risk ahead.
Celebrate the seller and their exit. Celebrate their decades of hard work, success, and this important milestone.
That’s worth celebrating.
The only thing you get as the buyer at the close is hope and a list of to-dos.
I haven’t found a bank accepting those yet.
The Long Road Ahead
You can try to imagine how the company will transform in 10 years, but don’t celebrate it.
- You haven’t done anything yet.
- The hardest work is ahead of you.
- The company should evolve over a decade.
From Vision to Execution
Sometimes it doesn’t go Y to Z, but Y to Ω.
Have a vision of Ω when you buy it, and get excited about the potential.
Be completely focused on the work ahead.
The acquisition is just a bunch of paperwork and negotiation.
When you sign, then you have a mountain to climb. Celebrate when you get to the top. Then you’ve earned it.
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