$3M CHALLENGE: Why We Walked Away from a $300,000 Deal

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$3M Challenge Update: Why we walked Away from a $300,000 deal to acquire the SaaS company of our dreams.

What is The $3M Challenge?

Our growth team is going to launch and grow 3 companies to $1M in sales. Specifically, an agency, a D2C brand and a SaaS Company. And we’re going to document every step of the way. Here is our progress meter.

UPDATE: 11/29/2021

Why We Walked Away from a $300,000 Deal

The first check in since GrowthHit started its $3M challenge. A $300k deal fails, but Yonathan Ayenew joins to discuss key takeaways and important lessons we learned from the first step on this journey.

TOPICS DISCUSSED IN TODAY’S EPISODE

· What are the Criteria for good investments
· Where and how do you find opportunities
· What is due diligence and how do you enact that
· What were the red flags
· De-risking strategies
· The Walk-Away Takeaways

Alright, so what’s next?

Here are some of the topics we’ll be covering:

  • D2C: How we decided what problem to solve
  • D2C: How we built the MVP of a brand name and look
  • D2C: Our process for validating if we have product market fit
  • SaaS: What type of SaaS do we want to acquire based on our skills (and limitations)
  • SaaS: How we’re attempting to acquire a SaaS
  • Agency: How we messed up pricing on day one and then fixed it
  • Agency: 20 things we did to hit $2M ARR

Have thoughts or questions?  Then please hit us up on twitter at @jimwhuffman or @growthhit.

Jim Huffman

Founder & CEO GrowthHit. Startup mentor at Techstars, General Assembly, and Sephora Accelerator. Author of The Growth Marketer’s Playbook #1
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