Acquiring Minds How a Couple Left Tech to Buy a Business Together
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Jan 27, 2025 Ray and Dana Cherry left successful tech careers to buy Monsam Portable Sinks, showcasing their journey into manufacturing. They share insights on how they outmaneuvered 50 competitors to secure the business, emphasizing the importance of communication and shared goals in their partnership. The Cherrys discuss innovating their product offerings in a niche market that boomed during COVID-19 and their plans for significant growth. They also reflect on the balance of financial management and strategic relationships, providing inspiration for aspiring entrepreneurs.
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Kids Inspired by Parents
- The Cherrys' kids see their parents owning and running the business.
- This inspires them and shows a path to generational wealth.
Broader Perspective from Small Business
- Working in finance and software can create a bubble, limiting perspective on the broader economy.
- Small business ownership provides a wider lens and deeper appreciation for different industries and work ethics.
Establish Credibility
- Establish yourself as a credible buyer when self-funded.
- Talk to lenders, brokers, and explore business marketplaces actively.