How to Raise Funds and Negotiate and Win on Competitive Deals

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Ben Carpel has purchased two of the largest listings from Quiet Light Brokerage in the last six years. One is a SaaS business, the other a publishing site. In this episode of the Quiet Light Podcast, Ben shares how he raised funds and beat out multiple offers in both transactions.

In his pre-entrepreneurial life, Ben was an institutional investor. He sourced deals and made business investment decisions as part of a larger investment fund. At the time, he played no role in the management of the businesses purchased.

Over time, Ben made the conscious decision to move into the digital space where owning and operating the company entirely would be his new role. He did this through raising funds, negotiating professionally, being likeable, thinking about others, and never over-promising and under-delivering.

If you want to raise funds, be a better buyer for yourself, for your investors, and negotiate and win on competitive deals, this Podcast episode is perfect for you.

Episode Highlights:

  • [0.32] Who is Ben Carpel
  • [3:40] Are the multiples higher or lower in the online space?
  • [5:32] Three Steps to winning in multiple offers scenarios.
  • [9:07] What two buyers stood out in Joe’s own transaction.
  • [11:04] What makes Ben a great buyer that sellers love to work with.
  • [14:59] Why doing what’s best for the seller is important.
  • [16:10] Does being a “nice guy” help or hurt?
  • [17:03] How to raise money.
  • [20:09] Why being open and honest matters.
  • [22:07] Get your “money” involved early on.
  • [24:42] The upside of things going sideways.
  • [26:14] Why managing communications is critical.
  • [27:59] Don’t do this…it kills relationships.
  • [31:14] What will win in the long run.

Transcription:

Mark: Whenever we do these podcasts we’d like to have a nice clear hook that we want to kind of tempt listeners with. Something that you’re going to learn, something that you’re going to pull away from this episode and a real actionable item but sometimes it’s really just good to sit down with a buyer who’s been super experienced, has a proven track record of doing really really good work and have been successful in what they’re doing and today we have that sort of a guest. Joe, you sat down with Ben … is it Carpal or Carpel or do we know?

Joe: You know what I think I say I’ve been saying Carpal for years but it’s Carpel. We’ll let him pronounce it properly and just go with that instead.

Mark: We really need to improve in this part of our podcasting career. We should stick to brokering. All the same Ben we won’t rank as far as how much different buyers have bought from us but Ben is the definitely one of our top five all time buyers as far as what he’s done through Quiet Light Brokerage. And you spent some time talking to him about how he’s financing some of these deals, how he has been [inaudible 00:01:40.7] money and also just some of the things that we can pick up [inaudible 00:01:45.1] we can pick up from somebody who’s done as much as he’s done.

Joe: Yeah if anyone out there listening is thinking about making an investment in a web based business they should listen to Ben’s approach. Because it just makes me, the broker, want to work with him more and more and more. He’s easy to work with. He’s always trying to under promise and over deliver. He’s continually giving updates. And he thinks first about the seller, trying to make the deal work for them. Naturally, it’s got to work for him but he doesn’t mind overpaying for a great business that has incredible growth opportunities. He comes from or came from years ago the larger investm

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