I am new to the platform, but loving the vibrancy of the community.
I intend to make this an multi-part post, so follow me for more updates.
After 6 years in senior leadership in an Optometry Marketing/SaaS company my two colleagues and I left our cushy jobs and worked full time on creating an alternative roll up. That was 2 years ago and to date we own 3 locations and have a fourth as a franchise/revenue share model. We are currently looking to scale up our acquisitions which is what brought me to this awesome platform.
Now on to the post.....
1. Hiring people who are as passionate as you are is not so simple at the startup stage, it was a game changer to go into business with two people who I knew brought immense value to the table and complemented my weaknesses.
2. Things always take way longer than you hoped or planned for
3. This one is hard for me to admit. If you don't know how to raise funds as the CEO, figure it out because your business depends on it.
4. The best opportunities came from connecting with someone who turned out to be a dud, but had someone else that they connected me with that turned out to be a great connection. So make meetings, and always ask if they can connect you with someone who may be interested.
5. Change is hard for most people. Have a well developed strategy for engaging with employees regularly post acquisition and ensuring that they develop a trust and belief in their new owners.
6. With our model the former owners stay on for 5+ years, this is fantastic in many ways, but see point 5 and multiply by 5 for previous owners.
7. Starting a new company is hard, it really helps if you love and believe in what you are doing. (Especially on Sunday morning)
8. Find a good graphic/web designer
9. Spend time speaking to every staff member, you have lots to learn no matter what your background is. Plus it helps with point 5.
10. Being an entrepreneur is amazing and way more stress than having a stable paycheck and a good job. If you are married make sure your spouse is on board for the stress as they will not have the reinforcement of all the amazingness of being an entrepreneur that you do.
Thanks for reading, let me know if you liked the post and if you want me to shed more light on what I learned along my journey.
To learn more about Amplify EyeCare, visit our fundraising website at https://raise.amplifyeyecare.com/
10 things I learned from our first acquisitions
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