MJBizMag August 2021 - 11

(in 2020) that myself and my partners
were ready. They made the right offer
(and) that was probably about six to
seven months to close.
Ag Natural was a much simpler
deal. That was just a couple months
from the time I decided to sell it. But
it was somebody I knew, a private
party, who already had a hydro store
and understood the business very
clearly. It was a friendlier and more
knowledgeable, strategic deal.
At the time, it was incredibly large
for me. I made seven figures. But in
complexity and size, it was a speck compared
to the deal (with Scott's).
What advice do you have for
others when exiting a startup?
Run your business first. Take care of
your customers, your employees and
your vendors. That's first and foremost.
Without that, there'll never be a good exit.
I think a lot of operators get
The cleaner your financials, sales
distracted with trying to sell their
business rather than trying to run their
business, because they're trying to
sell it instead of trying to optimize. Get
operating. Everything takes time, so
the sooner you start, the sooner you'll
start creating value.
Don't underestimate the value in
people and team members. And really
be prudent in bringing people in that fit
the culture, that have desires that are
similar to the mission of the business.
Build a dynamic team that will fight for
the wins and never give up. That's super
important.
Clean, accurate data, that's an area
I learned quickly early on. Keep good
records: contractual, financial, legal. Take
the time to do it up front so you're not taking
time, looking back, to clean it up when
you're in the middle of a deal, because it'll
cost you time, energy and money.
history and contracts, the easier it will
be to point out your strengths while
negotiating and back them up. That's
really important in a deal.
The most important is to actually
have fun and enjoy the chase. Looking
back, my favorite memories are from
the journey, not the exit. Though the
wins feel really good, it's important to
enjoy the adventure. Some of the hardest
times can be some of the most fun
times.
This interview has been edited for
length and clarity.
John Schroyer is a reporter
for MJBizDaily and
MJBizMagazine. You can
reach him at john.schroyer@
mjbizdaily.com.
August 2021 | mjbizdaily.com 11

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MJBizMag August 2021

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