In this episode of the Tech M&A Podcast, Andrew McConnell, co-founder and CEO of Rented, shares his journey of building a pricing optimization engine for vacation rentals and the eventual sale of the company. He discusses the market dynamics that led to the sale, the importance of having a strong team, and the mindset shifts necessary for personal growth. Andrew also emphasizes the significance of reclaiming ownership of one's thoughts and crafting a fulfilling life post-sale, including his travel experiences and advice for entrepreneurs. takeaways
- The market dynamics can dictate the timing of a sale.
- Having a strong team is crucial during transitions.
- Your mindset is your most valuable asset.
- Don't wait for a sale to start living your desired life.
- Understanding what you are running to is essential for clarity.
- Post-sale life can be fulfilling if crafted intentionally.
- Travel can enrich life experiences after a business exit.
- It's important to separate your identity from your business role.
- Reclaiming ownership of your thoughts can lead to personal growth.
- Seeking help from experts can make a significant difference.
Chapters 00:00 Introduction to Tech M&A Podcast 01:04 The Journey of Rented and Market Dynamics 03:51 Balancing Business and Personal Growth 05:47 The Concept of Ownership and Mindset 09:14 Life After the Sale and Travel Adventures 11:11 Crafting Your Desired Life 12:08 Final Thoughts and Recommendations