BOB, CEO, Doug Robinson discussed on Entrepreneur Stories for Inspiration: Millionaire Interviews
It makes sense for us to just acquire you, and they were often eleven times revenue, and I said, Bob my God brother, take the money run like still something. I don't care what piece of paper you put in front of you don't even sign just get a stamp with your name on any paper. You put in front of just stamp it just go man you want your money back. I know him as a friend and as a crate, right, right? Right. And tastic, right. I said, okay, listen, we have to form form aboard. Let's get some structure on there. I helped them form of word. I got on the board. I had a lot of acquisition experienced one of our other friends a guy benefit Doug Robinson, who was an investment banker. We got him on the board. We had enough horsepower on the board to help off through this potential acquisition deal. And we always gonna went to the eleventh hour, and if fell through as deals do in my lifetime, I probably have done over fifty deals. I would say that one hundred fifty deals of fallen through more deals fall through than deals happen in for various reasons. It took almost all of two thousand nine two goes through this. And this is early two thousand ten and deal falls through in Bob and the team are wildly disappointed. And they're like, what are we going to do? And you know, an you just going to grow your business. Don't worry about it. Let's something else will come in the you'll still within the sage products still though point. Yes, stolen stage route. So as said go back to the strategy. We send is replicated go out and find another stage in execute that contract or whatever the team was really struggling. They're finding all different types of parties. They were trying to get contracts together. But it just nothing was really connecting and fast forward to two thousand twelve January of two thousand twelve and I always tell funny stories like we had a board meeting. And you know, it was like man, we look exactly the same as we did in two thousand ten we hadn't grown. We're still four. But we are spending a crapload of money trying to grow we weren't profitable. We're all sitting there, and we're like man, I went to the restroom and came back and next thing. You know, they said we voted you in a CEO as guys know there's a bathroom rule, man. If you go to the bathroom, you cannot be voted in his see of this. I'm joking. But they really said John we need you to come in here to grow this business. And I said, oh, man, I was just literally finishing up the deal at digital globe. In at got about another six seven months at a half to finish up. This. Deal with the acquisition over there, etc. It's gonna take me a while. So I think we should find somebody else, quite frankly. And they said, no, no, no, you're the one, you know in. So did you wanna do it at? I know right. Yeah. Especially voting yet when you're gone, you know, because if he wanted to do it, then it probably would have been your idea. Right. Yeah. But then I'll tell you a couple of weeks later, Bob, and I went out to dinner, just you, and I we call it the infamous palm restaurant palm restaurant here. In town. We went there we had couple martinis have dinner couple bows line and Bob was just like, and I could just see it. I mean, this is one that he really really wanted to really take off. And I said, I'm going to do this for your brother. I'm gonna come in. I we actually just kind of convinced each other that we could change the world for the SMP. That was really the thought process is how do we change the world for the SMB's the small business player? And that kind of got me jazz. I will tell you that. I started thinking about it. Wow. There's tons of tools out there and that kind of stuff, but nobody's really bringing it all together. And if we could do that that would be. Crazy while after allies like, yeah, I wanna do this worked my way out of digital blow. I officially took over in July of two thousand twelve when I finally took over as CEO we were fifteen person company crammed in a little tiny office here, Colorado..