Today we have back for round 2, Frank Dale, who’s the founder of Costello,

which was recently acquired by Sales Loft, the 7th fastest growing tech

company in America last year. I recommend going back to listen to the first

episode with did with Frank, which we rebroadcasted on December 2nd in

preparation for this conversation:

https://startupcompetitors.com/podcast/2019/12/2/costello-the-benefits-of-having-close-relationships-with-your-customers

. 

In part one of this in-depth conversation, Frank shares the journey of the

transition from SalesLoft being a customer for over 19 months, to then

acquiring Costello. He details the lessons he learned from the acquisition

of Compendium, a previous company of which he was CEO, and how he used that

experience to create a pattern through which Costello could be acquired.

Frank also shares helpful tools and insights he gained along the way for

other companies that may go through this process. 

Topics in this episode

* Why this acquisition was a good fit for both Costello and SalesLoft 

* The importance of culture and making sure they’re a good fit when

considering a partnership of any kind

* Taking into consideration how an acquisition affects:

o Employees

o Customers

o Investors

o How do I feel about it?

* Core values as a scaling mechanism for a company

* Being intentional about talent and core values while also having a

strong organizational structure

* Pay attention to the ecosystem of companies that your customers are

using, because some of those could be potential partners. And for

those potential partners, pay attention to their values system.

* Why we bet on SalesLoft: the culture and the people 

* Bottoms-up sales

* Building credibility with investors

* A helpful guide book in understanding the acquisition process: Magic

Box Paradigm by Ezra Roizen,

https://www.amazon.com/Magic-Box-Paradigm-Framework-Acquisitions/dp/0692778047

* How to communicate a possible acquisition to your board