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"oberland california" Discussed on The Tech Blog Writer Podcast - Inspired Tech Startup Stories

The Tech Blog Writer Podcast - Inspired Tech Startup Stories

11:30 min | 1 year ago

"oberland california" Discussed on The Tech Blog Writer Podcast - Inspired Tech Startup Stories

"Not many people ask me Neil, what you recall, these podcast every day, and that are so many different reasons by doing and I'll be honest with you. I have seen and experienced a few things over the years that nobody should, and it really did wake me up on how precious and how fragile life can be because we're all here for a limited time. And I do often say, so many people sleep walking their way through life, placing limitations on themselves and convincing themselves to these too late for them to make any changes. And it took me until I hit four to find my way say if I can give a little bag and share inspirational stories of people scattered all over the world and beam. That message. All around the world to and help others fun their way improve that technology really dues were best when he brings people together. The not sure sounds like a good enough reason to publish these podcast everyday, and today's guest, Gregg Sheppard, and he's a season faction in building and ruining sustainable growth. Businesses is former company affiliate traction was acquired by EBay enterprise marketing solutions in January twenty sixteen and the following year. The company was rebranded Pepe. Gem joined a transaction earned them the prestigious tech deal of the year over two hundred and fifty million dollar award, as well as the private equity deal of the year award over five hundred million to one billion on the cross border deal of the year over five hundred million to one billion, and the amony deal of the year over five hundred million to one billion award, and that nine hundred eighty five million dollar deal. Comprised purchase. And sale of more than fourteen companies, including Atta showed another company founded by Greg and garnered while him an early spot among the elite in performance marketing, and all that is incredibly impressive. Bull is nowhere near as impressive as he's inspirational back story on also is outlook to life two and my interview with him today. Will honestly it will stay with me for a long time. And I hope if your stalled founder you're able to take a few valuable lessons from our conversation tonight, because that is pure gold hidden in that so book elope, and hold on tight as I beam. Your is all the way to California. So we can speak with Gregg Sheppard. So massive warm, welcome to the show. Can you tell the listeners a little about who you are? And what you do. Sure. My name is Greg shepherd, and I started as a entrepreneur done, you know twelve companies, then exited them. And then most notably. I built a company that sold to EBay, and then we had a crossword or transaction carve out from EBay that participated in where we fourteen companies all twelve. Another one of my companies in another company, and it was one, actually four private equity awards. It was a nine hundred twenty five million dollar transaction and magenta does actually, one of those companies. Wow. I mean, hate me twenty nine you a major Silicon Valley angel invest, invade. See hasn't always been that way. One of his involved you on the show today. He's on sharing inspirational starts stories, and from the world of tech, and how anybody listening listening can follow their dream and really make a difference. So can you share your story from humble? Beginnings to actually going on not only achieving success, but actually giving away three million dollars after your first big deal testing store and it really is. So I started my mom's nine thousand Greece. They left the church to take our kids and doing so they didn't have much money they really wanted to foster and adopts, I was raised in family of foster children. And then we were we have any money so, you know, I, I built my own businesses when I was a little kid, I used to sell remix cues and actually later on when we were in a pretty rough neighborhood and Oberland California. There was a lot of gangs and stuff, my momma, just the country and I will catch rattlesnakes solemness exotic pets to the pest or. And then the rows necks eight rats. So I bought two rast Radoman and started feeding him. So I can feed them the the product. It was a two sided platform, basically, is the rows Knicks. And the, and so, you know, I started building tech companies and build this one company and built it up and sold it. And like I said earlier, and it was really, really exciting. And it was a lot of people that really helped me, and so I gave away, three million dollars to, you know, to the people that work for me. And it was the most inspiring thing I'd ever done. And it was full of magic to why people pay off student loans, and put their kids through school by houses, and, you know, pay for their his way, and it was just it was magical is what it's all about how refreshing to hear that story being told and you have been incredibly inspirational journey, but in two thousand sixteen you so to you'll full companies to EBay and I think it was over nine hundred million. Dollars cross Brun Dale unav-, help twelve plus companies get quiet, but anybody listening at the beginning of their stole to journey that could be going through a bit of a tough time at the moment or, or China achieve funding of so many of stages of that journey. What advice would you pass down to that person? I would say, first of all, you know, I have I'm working on a Ted talk that I'm doing later, and I tell him you need a handful of things. And you're in the handful is, is Dr enthusiasm discipline and optimism. And those things I think are critical. That's one thing I would tell them the other thing, I would tell them I think is, and this is something that I always get into debates about with investors is that when you start building a business, you have to understand who your buyers and a lot of people don't do that. A lot of people say, oh, well, you know, I'm building a business, I don't need to know that was down the road. And I tell them I say, well, listen, if you don't have an ideal buyer profile in ninety. Customer profile and you don't know that, that ideal customer profile is the same ideal customer profile profiles, your buyer basket of June. A really bad situation. You've ma'am work under company for years. And it's not like you were going to company, build it up. And then you go find a buyer, you have to have the whole time you have to be creating a relationship doing partnerships and things like that. So I tell people, I'm like if you were to build a product, you would have customer in mind, you would be solving a problem for a customer will your whole company to good buyer to a strategic. Buyer is just a product to them, most of the time, they don't need your customers. Not the good strategic, you know, as good synergies they have customers, and they've already paid for them if the customer acquisition costs have been absorbed, so you're building a company and you make sure that your buyer in their buyers aligned, they see, acquiring you as an additional extension to their existing investment in their current. Customers, and your whole go to market strategies should be aligned with that. I see people raising capital. And I you know, in my own investments to where I say, they're like, I want to raise five million, and I'm like, well, why do you want to raise five million and they said, well, because I have go to market strategy that's three million. And I say, well, why what is your go to market strategy? Let's go. Going out. And Quiring customers will buy you're going to go on choir. All these customers will because I wanna have revenue we'll buy you need. Revenue is the buyer. That's buying your company buying your company because you'd have revenue because if they're a forty billion dollar company, or a ten million dollar company are one hundred million dollar company, and they're buying your company, and you're like you've got like two three million in revenue, or whatever it is, is insignificant to them. They don't care about that. Would they care about his growth, margin and retention grosses, people want to buy a product margin says you do it at scale and retention says people wanna hold onto your product? And attachment rate is when you have a buyer and you acquire some of their clients and show those three drivers on their clients on their current customers, and that's how you sell company. And so you have to start with that in mind, otherwise, raise capital, you don't need you burn, where he don't need. And by the time you turn around the now, I wanna sell my company, you're starting on that process net process takes a year two years. You know where you start working with their customers in, you prove rove, margin retention with their customers. And you show that over a period of twelve twenty four months, and then you go, and you set up a partnership with them, and then you take a little investment from them, and then they buy your company and that's the pattern that I've seen repeatedly. And I get into a lot of arguments with investors look at their track record. I'm like, what are your clothes, how many deals out of the ones that you invest in fail? And they're like nine out of ten and I'm like, well, I don't have mines twelve for twelve so there you go. Oh, that's a pretty good averages any of that. So, well, it was just about to ask, why do so many stall to struggle to get a quiet formula experience. Sounds like if I'm is because if not doing early work around growth, margin and retention and kind of skipping those steps, would you say I think it has to do with that. But I also think it has to do with them, not planning for the acquisition. Right. So, you know, when you if you're building a company that sells widgets, and you have a better widget and everybody else has or you have a bulk onto an existing engine existing widget. Then when you go out need to identify I calm, your ideal buyer profiles. So you go out and you find three to five companies that went by your company, and then you justify that acquisition by building user stories. So I am and I want to buy so that I can set. Right. And when you build that out, then you say, okay who are their customers, and what are their customers ideal profile? And then you go out and acquire their customers. So let's have a base, which is their total customer size and I'm just using random numbers all over here. But let's thousand customers and you say them, I'm going to acquire ten percent of your. You don't tell them this. But in your head you say I'm gonna choir ten percent of this abyss buyers customers. And then you get out of that ten percent. You get fifty percent you shown a fifty percent growth rate on their customers. That's tach -ment. Now, if you retain those for twelve to twenty four months, you're showing that you can retain them for twelve twenty four months. Now, if you show that you can scale, meaning you can actually, you know, do have margins increase in show economies of scale over time now you have the magic trio. Right. That trio on their base makes it. So why wouldn't they buy you've proven to that already that you're perfect acquisition for them? Does that make sense? Absolutely. Another thing that I..

EBay Gregg Sheppard Greg shepherd California Pepe Neil Gem Oberland California founder rast Radoman Atta Bull Dale unav Ted China rove ten percent twelve twenty four months three million dollars fifty percent