A little behind the scenes on the thought process of what we did and why. Hit me up on IG! @russellbrunson Text Me! 208-231-3797 Join my newsletter at marketingsecrets.com ClubHouseWithRussell.com ---Transcript--- What's up everybody. This is Russell Brunson. Welcome back to the marketing secrets podcast. So today I'm excited because we officially just purchased our first company, which is crazy. And so I will talk to you about that today, what I learned and some things that might help you along your journey as well. All right. So I can't tell you all the details yet because we're still... I don't know, we'll officially announce it to the world, what it is, why and all that kind of stuff later. But we finished signing all the paperwork today, which is crazy because two days ago I had to sign 96 signatures and there was like another like 20, and then there was a couple more. So it's like over a hundred and something signatures I had to sign to officially get this company. And it's exciting. It's our first ever acquisition. Now I bought a lot of things in the past. Right. I bought traffic secrets. We bought mastermind.com, I bought bootstrap, salesfunnels.com. Like we bought really expensive domains, but not like full, active acting businesses. Right? This is the first time where it's a business that we purchased that has huge cashflows and all sorts of crazy stuff. And I wanted to share with you guys just because hopefully it gives you guys just a different way to look at business. It's definitely given me a different way to look at business, which is one of the reasons why we did this. And a lot of you guys know my philosophies and principles on business, right? That's what we talk about all the time, that's what my books are about. This is what my podcast is about and there're different ways to grow a business, one way is that the more traditional where you get an idea, you get a bunch of investors, you raise money and then you go and you create something cool. I hate that way, as you know. So we are the bootstrapped way, which is like create something amazing and then create fronted offers that self liquidate to bring customers in. And that's the bootstrap model we've been doing that, I love. But there're other ways to grow a business as well. And this one I wanted to talk about, because this has been something really, really interesting to us, and I'm not going to share all the stats, the numbers and all that kind of stuff. Partially because I don't know if I'm legally allowed to partially because I don't know the numbers I wasn't involved with all of the day-to-day because I'm no longer the CEO, Dave did all the work. I've just had to sign a million times. So I wanted to give you like some structural concepts to think through that were really, really cool for me. So part of my understanding of this dates back to about a decade ago, I was actually at a mastermind meeting in Mexico and sitting next to this dude and he is different kind of business person than me, right? Like I'm like startup guy, start a business, grow it, scale it, launch it all that kind of stuff where he was like, he told me, he's like, I'm not an entrepreneur, you're an entrepreneur, you start stuff, it's amazing. I'm in mergers and acquisitions. And I think he had bought like 60 or 70 businesses and bought and sold and made a ton of money. And so I was trying to understand them. I'm like, so you never started a business? He's like, no, you guys do that, that's way too hard. He's like, what I do instead, is I find entrepreneurs like you, and he's like, what you have to understand... And I'm probably going to mess up these numbers but this is just illustration purposes. Right? He said if you look at your businesses, right, he's like at a certain level, let's say you're at like $3 million. He's like, you're only going to sell for like a three X multiple. Right. So maybe you'll get 9 million for it. He's like, but at $10 million you'll sell for a five X or