What We Learned From Acquiring Companies, Why 'Best Practices' Fuel Mediocrity, How Long Does It Take to Generate Revenue After You Speak At A Conference? | Marketing School - Digital Marketing and Online Marketing Tips | Podwise
What We Learned From Acquiring Companies, Why 'Best Practices' Fuel Mediocrity, How Long Does It Take to Generate Revenue After You Speak At A Conference?
This episode explores the lessons learned from acquiring companies, contrasting the experiences of two entrepreneurs with differing approaches. Eric Siu discusses his two unsuccessful acquisitions, highlighting the importance of acquiring complementary businesses for easier cross-selling and higher customer lifetime value. More significantly, he emphasizes the crucial role of retaining founders to maintain company culture and motivation, noting that a misaligned culture can severely hinder growth. In contrast, Neil Patel, who has completed numerous acquisitions, primarily in the SaaS sector, focuses on acquiring companies offering services he doesn't already provide, often in new geographical regions. For instance, he details his successful acquisitions of UberSuggest and Answer the Public, highlighting his ability to quickly improve profitability through strategic implementation. As the discussion pivots to broader strategies, both entrepreneurs agree that blindly following best practices from books can be detrimental, advocating for a more personalized and adaptable approach. This underscores the importance of experience-based learning and the need to adapt strategies to specific business contexts and evolving market conditions.
