Yeah, that's right. So for anyone wondering, I'm allowed to talk about this stuff. It's public domain. They ratio is the organization that bought my first brand and they used me in a lot of their P. R. So it's it's all public domain that I built a brand of fitness equipment called Beast gear and sold it to three ratio. It was their first or second european acquisitions. My experience was different to what a lot of people experience now because so much has changed in such a relatively short time. I made the decision that I wanted to explore an exit In early 2019 And I sold the business in late 2019. So it was Halloween 2019 that I did the deal. And so uh even in that short, you know year and year and a half year and nine months or whatever. Since then so much has changed. Um For a start there are dozens and dozens of three ratio copycats if you like. You know aggregated in this space. Whereas ratio formed in september 2000 and 18 they made me their initial offer in september 2018. So, a year after they formed, I hadn't heard of them many, many people hadn't heard of them. Um the whole idea of buying and selling a purely e commerce business was only just beginning to become, you know, mainstream and it's still not really mainstream. Um you know, for a long, long time, despite, you know, the internet existing for for decades now and e commerce existing for an awfully long time. Now, the idea of buying or selling an e commerce business was bonkers too many, You know, if it didn't have a door, you know, we just wasn't gonna happen. Um and so an awful lot has changed in my experience is quite different. Um, I went through a broker and that was that was okay. They introduced me to the buyer, which, you know, I'm grateful for, but that broker um didn't do a great deal in terms of actually getting the business ready to sell. They pulled some reports from my amazon account and my, my Shopify site and slap the value on the business more or less based on uh, the market average. And actually a great deal of the work to get the business really ready to sell was my accountant. And I, and actually we picked up on a major number crunching error by the broker, which was allowed me to actually negotiate down the commission. Yeah, they undervalued the business by about 30%. Um, so then, yeah, yeah, exactly. Well, that was one of the main things that made us say what we could do a better job of this, you know, apart from anything else. Alison, my co founder, she has 20 plus years experience in mergers and acquisitions. Um and so, you know, that experience led us to feel like we could a offer more to the seller be make the buyer's experience more smooth because the seller is gonna be so much better prepped for the sale and see the seller is going to maximize the value of their business rather than just sort of generically pull down some reports, slap it on our website on the Ebay of businesses that flip the business. Um That's not what we're what we do
Thanks,
George
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