Manage episode 218063685 series 1770904
Brad Wayland may be the only QLB broker that was asked to join our team. Others amy dispute that, but they were not interviewed today, so they don’t have a voice! Brad has been with Quiet Light Brokerage for less than a year now, and has already established himself as an honest, hardworking and driven entrepreneur and broker.
Prior to joining Quiet Light, Brad spent his time focused on SEO for a custom t-shirt firm (Blue Cotton) where he is a partner. From there Brad built a portfolio of content & affiliate sites and eventually sold them to a private equity firm in 2015. In all, Brad completed 30 transactions between 2010 and 2016. Mostly as a buyer, with four sold.
Brad learned quickly how to find the right opportunities and work out a deal that made sense for both the seller and himself. And he gained a reputation as the person to sell to, where sellers reached out to him to sell their business.
- [3:22] Who is Brad Wayland?
- [8:10] Why is the custom t-shirt business the most difficult ecommerce niche?
- [8:40] Buying and building a portfolio of content sites.
- [11:15] Wall street style negotiations, or nice guy everyone is happy?
- [11:45] Name dropping. Yep, Brad met Warren Buffett.
- [13:50] How to implement economies of scale.
- [14:45] Outsourcing and keeping things simple, streamlined and with little effort.
- [16:10] How Brad set up the corporate structure(s).
- [17:00] How to work with investors and set up a win/win.
- [19:40] Why having investors can turn pretty uncomfortable, quickly.
- [20:30] Brad’s recommendation on deal structure for investors.
- [23:10] What interest rate do you pay investors?
- [23:30] How the multiple of SDE changes with larger net numbers.
- [27:15] Brad’s view of PE monies and what’s happening in the industry
- [28:40] Google “freshness” is critical to long term content portfolio success.
- [29:50] Content multiples are strong, the nich is hot and buyers are in abundance.
- [30:30] QLB closes a content site for just under $9,000,000
- [32:30] Bryan @ QLB has a supplement business under LOI for $18,000,000.
- [33:55] The worst conversations we have as brokers are…
- [35:35] Near death accident: Wayland Falls – the newly named mountain in North Carolina.
Joe: So Mark the more we bring on brokers here at Quiet Light the less I feel like I’ve achieved anything in my life. I think you and I are just a couple of slackers compared to the people that have joined the company.
Mark: You know I feel the exact same way. We were at the capitalism.com just a few weeks ago and I was standing next to Walker, you know the last picture he sent me was of him in the lineup with Bill Nye the Science Guy right next to him. And he’s casually mentioning over a dinner about the different documentaries he’s been a part of and all that right? But it goes for every single person on the team. Amanda, when we were talking to her there and I was just consistently feeling like boy I need to get my butt in gear.
Joe: Yeah I don’t try to have in-depth conversations with Amanda about business because I just feel stupid.
Mark: Right, I mean she just starts going off and you’re like oh okay I … everything I thought I knew yeah it could pale as in comparison. Brad though is one of those guys and I remember the first time we did a companywide call; we do this once in a while with Quiet Light Brokerage because we’re all over the world. All over the country but all over the world and so I don’t know maybe once a quarter we have a companywide Zoom conference call where we can see everybody and there was Brad on top … in his o
90 episodes available. A new episode about every 0 hours averaging 38 mins duration .