fter serving as CEO of an HR firm that she grew and helped shepherd to a nice exit, today's guest was looking for her next thing.
Investors and bankers were now eager to work with Marci LaRouech, wanting her to come run other HR platforms for them and do it all over again.
But Marci now had money in the bank and, more importantly, a desire to do something at her own pace, by her own rules.
So she set out on a search to buy her own business in the HR space.
Ultimately what she bought might surprise you:
An HR consulting firm that was quite small at less than $1m in revenue, with but a single full-time employee beyond the owner. The rest, 1099s.
Listen for our discussion as to why buying this business made sense to Marci.
After all, at that small size, and with Marci's own deep network and comprehensive knowledge of the industry, is this not a case where starting something from scratch instead could have made sense? (Spoiler: no.)
Lots of themes informed her decision, including:
- wanting to work on not in the business;
- when time is more valuable than money;
- the power of buying a business at a low multiple and at great terms;
- and, the value of certain contracts that Marci believes hold the key to accelerated growth.
OK, please enjoy this conversation with Marci LaRouech, owner of Seay HR.