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