Welcome to a new episode of Business Lunch! In this episode, Roland Frasier and Ryan Deiss share insights on the challenges faced during the acquisition and management of the Traffic and Conversion Summit. They discuss the importance of understanding community dynamics versus content value, the pitfalls of corporate decision-making, and how these factors contributed to the event's struggles.

Highlights:

"If you're going to do acquisitions, you need to be really clear on exactly what it is that you're buying."

"The hardest thing in the world to do is to create a place, but you can lose that way faster than it takes to build."

"You cannot let bean counters make business decisions."

"The consulting firm that advised them not to buy Digital Marketer gave some of the worst advice they probably ever paid for."

Timestamps:

00:00 - Introduction

01:54 - Community vs. Content

08:18 - Pre-Pandemic Sales Struggles

10:00 - Financial Implications of the Pandemic

12:35 - Lessons Learned from the Deal

15:30 - Importance of Community Involvement

17:00 - Consequences of Poor Marketing Decisions

20:15 - The Role of Digital Marketers

22:40 - Strategic Partnerships and Growth Opportunities

25:00 - Reflections on Corporate Culture

28:15 - The Future of Events Post-Pandemic

30:40 - Closing Thoughts on Acquisitions

37:22 - Episode Conclusion

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