Jordan Wagner

Founder at The Exit Group
Mergers & Acquisitions

[Jordan Wagner @exit_jordan]

@BigJohn043 I find business owners always ask for more details. I know many (rev/ebitda) are confidential. Perhaps mentioning # of employees when you invested vs exit and any other metrics you can share publicly

[Jordan Wagner @exit_jordan]

@rezajafer @STLChrisH Agree - the automation and plug ins for SF give you a lot of features you can't get with closed system

[Jordan Wagner @exit_jordan]

Depends what you're looking for. We have looked at it several times but chose Salesforce. The large community of experts who can help customize SF is a big difference. SF also is already plugged in to all automation tools which was the reason we couldn't go to dealcloud. A lot less automation

[Teddy Mitrosilis @TMitrosilis]

Nick Saban was asked a question after practice once.

His response was 70 seconds of gold on what it takes to be successful in life.

Here’s Saban on the Illusion of Choice:

“These guys, they all think they have this illusion of choice. Like I can do whatever I want to do.

“You have a younger generation now that doesn’t always get told no. They don’t get told this is exactly how you need to do it. So they have this illusion that they have all these choices.

“But the fact of the matter is, if you want to be good you don’t really have a lot of choices. It takes what it takes. You have to do what you have to do to be successful.

“You have to make the choices and decisions to have the discipline and the focus to the process of what you need to do to accomplish your goals.

“All these guys that think they have a lot of choices are sadly mistaken. As we all have done with our own children, they learn these lessons of life as they get older.

“Sometimes the best way to learn is from the mistakes you make, even though we all hate to see them have to make them, and we don’t condone it when they do.”

–

I’ve studied Saban for 12+ years, and the Illusion of Choice is one of the most powerful concepts I’ve come across.

Some key takeaways:

1. Excellence has a price. We can complain about that, but it’s a fact of life.

2. Most people don’t want to pay that price. They just haven’t admitted it to themselves.

3. Saying you want to be excellent is easy. Becoming excellent is hard.

4. There may not be one way to become great, but there are very few. And they all have discipline and consistency in common.

5. Every action we take is a choice. We’re choosing to make progress, or we’re not.

6. The formula for becoming successful: Your Daily Choices x Time. It’s simple, but we make it complicated.

7. Sometimes we learn more by making the wrong choices. Reflect on them, pull out the lessons and move on.

8. You have to choose what you do every day. Don’t follow your feelings. Choose to do what will make you better.

9. There are no long-term hacks. It takes what it takes.

|||

Hope this is helpful. Follow me @TMitrosilis for more writing.

I also write a weekly newsletter on the process of improvement → https://t.co/Akm89Spodg

[Jordan Wagner @exit_jordan]

Don't wait for a rainy day to consider your exit strategy. Smart business owners start to consider what an exit could look like long before they intend to sell.

[PrivateEquityGuy (Mikk Markus) @PrivatEquityGuy]

“Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.”

RIP to the legend Charlie Munger🙏🏼

[Jordan Wagner @exit_jordan]

Selling your business is a life-changing event. It's important to have a plan for what you'll do with the proceeds from the sale. Consider your retirement goals, tax implications, and estate planning needs.

[Carl Vellotti 🥞 @carlvellotti]

What does Sam Altman look for in a team?

As Sam looks to reverse-uno his way back onto the OpenAI board, he'll need to rebuild his team.

So what does he look for? Here's what he's said in the past:

First and foremost, you need optimists, "people who say 'you know what, we are gonna do this and it doesn't matter what the haters say. We're gonna figure this out. This problem it must be solvable.'"

Without optimism, "it's very hard to succeed when the world continues to punch you in the face."

Then they need to be idea generators. "Constantly spewing new ideas, most of them terrible." That's Altman's counterintuitive take on creativity. While you only need a few of these prolific thinkers, their offbeat concepts can unlock innovative solutions.

Altman also prizes the "we'll figure it out" attitude. Whether they have the skills or not, he loves people who confront challenges head-on.

Decisiveness is another must-have. Startups operate with imperfect data, so paralysis by analysis can be fatal. Altman wants team members who act swiftly and adapt when things go sideways.

But perhaps most surprisingly, Altman values inexperience. He's seen startups achieve the unthinkable, simply because they didn't know it was supposed to be hard. This naivety sparks fresh approaches that veterans might dismiss.

Keep an eye out for how his new team embodies these characteristics:
- Optimism
- Idea generation
- ‘We’ll figure it out’ attitude
- Decisiveness
- The blessing of inexperience

[Jordan Wagner @exit_jordan]

To grow your business, you need to innovate. Keep an eye on the latest trends and technologies, and be willing to adapt your business model accordingly!

[Jordan Wagner @exit_jordan]

In the world of business, everyday decisions that may seem small compound to shape your future. Make informed choices, trust your instincts, and be ready to pivot when necessary📊

[Jordan Wagner @exit_jordan]

Your team is your greatest asset. Investing in their growth is investing in your own 🤝

[Jordan Wagner @exit_jordan]

When you focus on people, business takes care of itself. Build strong relationships and stay ahead of your competition.

[Jordan Wagner @exit_jordan]

Document everything. Processes, contracts, intellectual property, etc. Having a comprehensive record can help build appeal to buyers 🤝

[Jordan Wagner @exit_jordan]

Now it’s time to draft and finalize legal documents, complete diligence reports, and ultimately, sign off on the deal.

[Jordan Wagner @exit_jordan]

Signed an LOI (Letter of intent) and curious about what happens next? Read this #thread.

[Jordan Wagner @exit_jordan]

A deeper dive into legal assessments precedes the site visit and final planning session.