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When I started as Chief Revenue Officer at LawRoom in 2015, we had an acquisition offer on the table from http://Lynda.com for $17.5M (~2x revenue).
19-months later we sold LawRoom to EVERFI for $45M.
This is what happened, and what I learned. 1/
https://refounders.substack.com/p/7-things-i-learned-from-lawroom
19-months later we sold LawRoom to EVERFI for $45M.
This is what happened, and what I learned. 1/
https://refounders.substack.com/p/7-things-i-learned-from-lawroom
“Focusing on the simplest possible system (an individual company) is the greatest opportunity for an investor since a company is understandable in a way which may reveal a mispriced bet.” -Tren Griffin 2/
What Tren means here is that one of the best ways to make money is to invest in businesses where you have specific knowledge or insight about its potential. This must be something that’s non-obvious to the rest of the world.
LawRoom was my mispriced bet. 3/
LawRoom was my mispriced bet. 3/
It was a 20-year old, slow growth compliance training company that I believed deeply to be a sleeping giant.
It didn’t look the part, of course. Very smart friends and mentors didn’t agree with my assessment and tried to talk me out of it.
But here’s the thing. 4/
It didn’t look the part, of course. Very smart friends and mentors didn’t agree with my assessment and tried to talk me out of it.
But here’s the thing. 4/
LawRoom had some incredibly compelling product and market drivers that were non-obvious. My specific knowledge and experience in the HR and compliance markets gave me some insights into what LawRoom could become.
The big learning? 5/
The big learning? 5/
It’s so damn important to trust your specific knowledge of a business and to bet big when an opportunity presents itself.
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Check out the rest of this post at Refounders (my new substack!). http://refounders.substack.com .
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Check out the rest of this post at Refounders (my new substack!). http://refounders.substack.com .
