AI Summary
→ WHAT IT COVERS Nick Huber shares lessons from acquiring Somewhere.com for $52M, including mistakes like losing 300 monthly leads from a name change, shutting down four of eleven portfolio companies, and rebuilding executive teams with international talent. → KEY INSIGHTS - **Portfolio concentration:** Huber started eleven companies from 2016-2022 but shut down four and kept two treading water. The three successful companies now generate higher total cashflow than all eleven combined, demonstrating power law dynamics where focus beats diversification. - **International executive hiring:** Huber rebuilt leadership teams with six Americans among 160 employees at Somewhere, hiring COOs in South Africa, performance marketers in Colombia, and finance controllers internationally at 70% cost savings while maintaining or improving quality and work ethic. - **Talent filtering system:** To screen 60,000 monthly applicants, Somewhere filters by 35 words-per-minute typing speed (eliminates 85%), then requests one-minute video introductions (eliminates 80% more), leaving 30-40 qualified candidates from 1,000 initial applicants per job posting. - **Single distribution channel focus:** Successful companies identify one distribution channel that works and scale it relentlessly before exploring others. Huber's advisor prevented him from pursuing influencer marketing until Facebook ads reached $300,000 monthly, ultimately scaling to $1M monthly without needing alternatives. → NOTABLE MOMENT Huber lost one-third of monthly leads overnight after rebranding from Support Shepherd to Somewhere.com for $400,000, believing the easier spelling would help growth, only to watch SEO rankings and brand recognition vanish immediately post-acquisition. 💼 SPONSORS [{"name": "HubSpot", "url": "hubspot.com"}, {"name": "Mercury", "url": "mercury.com"}] 🏷️ Business Acquisitions, International Hiring, Portfolio Management, Distribution Strategy