Talent Raid, Don't Acquire
When a competitor collapses, you don't need their company — you need their people, today.
In 2019 Tipnes's largest competitor filed for bankruptcy and released its sales force from non-competes. While everyone else tried to buy the company, Tipnes reasoned the company was the liability and the sales force was the asset — and that he was the only buyer able to absorb all of them at once, so the talent had nowhere else to go. He hired their VP of sales, then 80% of the national sales force within a month, and became #1 in the country.
- A bankrupt company's value is its people, not its entity — buy the people.
- Move before the auction forms; speed is the moat when a competitor folds.
- If you're the only one who can absorb the whole team, you set the terms.
2019 competitor bankruptcy; the rival CEO told his reps 'we have 2 months of finances left, go find another job' — effectively voiding their non-competes overnight.
Source · VIDEO
I Had $78 in My Bank Account… Now I Own a Private Jet | Vick Tipnes (full episode)