Key Points From the Interview
oday's guest caught a falling knife.
Revenue was declining at the marketing agency that Scott Alexander was negotiating to buy.
But the seller explained it away, saying he had taken his foot off the gas was all.
If only.
When Scott got into the business, he quickly saw how dire the situation actually was.
Clients were furious, fleeing, and refusing to pay invoices.
Unhelpfully, the seller cussed out the biggest client after Scott took ownership.
So today's interview is a case study in how to recover from seller deceit and sabotage and the unhealthy culture they leave in their wake.
It's also a case study in completely repurposing the business you buy.
Scott spent his first year righting the ship, and just as things were looking up, Covid hit.
In a span of two weeks, 80% of revenue vanished. (There's a lesson there to not confuse recurring revenue with quality of revenue.)
This second crisis forced Scott to rethink the entire business, and he spent the next year essentially rebooting it.
Flash forward 5 years, and Jairus Marketing serves a better market with a stronger value prop, and revenues are in the mid-7 figures.
A lot to learn from and admire in this conversation with Scott Alexander, owner of Jairus Marketing.
