ots of great details in today's interview.
DiggyPOD, a print-on-demand service for self publishers, is a bigger business than is typical in self-funded search.
Our hero Anica John paid almost $9m, which means she needed $2.6m of pari passu debt on top of the SBA loan that maxes out at $5m. She also had seller financing. We'll hear how she structured that.
Then there was another $1m that went to cover excess cash requirements, the fee to Rejigg (the platform where she found the deal), and other items, bringing the total project cost to about $10m.
Also, DiggyPOD is far from Anica; she lives in Palo Alto while it is based in Tecumseh, Michigan.
The business has two other attributes which would scare off many searchers: it is declining, and it is capex heavy. Anica addresses both of these points.
You'll learn about the self-publishing industry, which is surging, and a great fit for Anica's background in working in products for creators.
Finally, listen for Anica's why: she's a mom and wanted to control her schedule in way that life at Amazon, her employer, just wouldn't accommodate.
And she wants to spread the awareness of ETA to other women frustrated by the mom-unfriendliness of high-paced corporate life. So if you know such a mom, forward her this episode please.
OK, here is Anica John, owner of DiggyPOD.