Colin Dougherty describes what it feels like to see acquisition funds hit your bank account. The surreal moment when the wire transfer arrives, the emotional weight of suddenly having that money, and what actually goes through your head when it's real.
It comes time to, you know, wire the funds. Did you use escrow service?
Yeah, so I think we use an escrow service. Decided a date. And it's weird because, like, I don't know, you. You assume when you're selling a business that, like, you don't really know what's going to happen, and then you realize that, like, oh, this is just all going to get wired to my bank account. And then it just kind of appears in your bank account. And so I'm, like, looking at my Chase app, and I'm like, oh, wow, this is real. Now it's kind of a weird moment where you're just like, all right, this is cool. This is also super strange. Like, I. I made this thing, and now it's, like, worth this money, and it's on my phone.
I can relate. When I sold my first business, when the wire came in, I actually wasn't excited. I was super, like, nervous and scared. I sold to a private equity firm, and he texted me, like, hey, check your bank account. And I checked my bank account. I'm like, whoa. Like, is this illegal? I actually didn't, like, sleep very well that night. It's one of those moments, like, you just never forget. I'm glad you got to experience that.
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