Acquiring a business is always challenging. Acquiring a business during a global pandemic might be considered stupid.
In August 2020, we acquired Start.Biz after the best part of 12 months trying to get the deal over the line and it was the best decision we ever made.
Bevan and I became friends whilst our wives, Kirsty and Michaela, were pregnant. During the first year of becoming parents both couples decided that we wanted to control our own fate.
We had spent the best part of 15 years working in businesses and helping the Directors and Shareholders of those businesses make a lot of money. We thought it was about time we pooled our resources and brains to have a go ourselves.
On 3rd January 2020, we received confirmation that our offer for the business had been accepted. After initial jubilation/celebration, the hard work began. Alongside working in full-time roles across the UK and completing Due Diligence, we had to start and complete our finance raise. Our journey to raise finance and finalise the deal had six steps: