Why You Should Turn Down a $14m Acquisition Offer with Derek Bluford of QuickLegal Ep 124 Derek Bluford of QuickLegal joins Nathan. Derek Bluford is the founder of Quicklegal, Inc., A new company that provides attorneys on demand via Facetime, voice call and instant messaging. Mr.Bluford has a history of entrepreneurial success in the legal service markets, and has won business awards such as California TechWeek, Entrepreneur Magazine Growth Conference, Legal Innovator and more. Mr.Bluford has a degree in legal studies and graduated Cum Laude. Mr.Bluford’s companies have been seen on publications such as Business Journal, California Lawyer, Landlord, Daily Journal and Porsche’s “The Drifter”.
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3 Key Points: Due diligence is key to decision making Create a stellar team and build upon partnerships There are lots of contributing factors in the decision to sell Episode Notes: 01:15 –Nathan’s introduction to today’s Show with Derek Bluford 01:34 – QuickLegal 02:00 – Founded January 2014 02:14 – Why did you start Quick Legal? 03:10 – Sold last company for $424,000 when he was 26 years old 03:41 – Funding came from last company 04:10– Launched February 215 after one year of beta testing
05:00 – What does QuickLegal provide? 04:13– How do you make money? 06:04– Bootstrapped company up to 600,000 and raised about 750,000 06:31 – Evaluation hopes of $12 million 06:58 – 65k per month, 800k annual rate 07:44– Offers to purchase 08:31 – Growth before selling 09:30 – Use offers for credibility for evaluation 10:00 – Will not sell for $14 million 10:08 – Why won’t you sell? 11:30—Shark Tank 12:09—Biggest concern 14:12 – The Famous Five Resources Mentioned: QuickLegal, Derek’s new company that provides on demand legal service Growth Geeks – The way Nathan hires growth hackers on a per project basis for things like info graphics, blog posts, and other growth projects without hiring full time employees. The Success Principles—By Jack Canfield Famous 5 Favorite Book?— The Success Principles by Jack Canfield What CEO do you follow?— Jack at Cleo What is your favorite online tool?— Google Analytics Do you get 8 hours of sleep?—Absolutely not, probably closer to 8 hours per week If you could let your 20 year old self know one thing, what would it be?—Always be humble and realistic. Follow the data.
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Article Resource - https://www.derekbluford.com/single-post/2017/08/16/Why-YouShould-Turn-Down-a-14m-Acquisition-Offer-with-Derek-Bluford-of-QuickLegal