Oliver

BACKGROUND

Please describe your company and your position there.

I am the CEO of a brand storytelling studio.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Barney, Inc?

We were exploring a merger.

SOLUTION

How did you select this firm and what were the deciding factors?

We considered a few firms but Amanda made a strong pitch, was very passionate and aggressive --and incredibly confident. She put forth a great first impression, which quickly changed after we signed the agreement. Despite having a contract, she immediately increased the monthly price 3x (blaming an administrative error on her team's side) and failed to deliver on any of her promises.

Describe the project in detail and walk through their service package.

This is the first time in my 20+ years running our firm that I felt we were defrauded.  Amanda and her entire team made promises we paid for, which they failed to deliver. There was poor organization, they dropped frequently in the middle of zoom calls or had "technical difficulties," they introduced us to people who were not qualified or had low integrity, and they published and shared confidential information about our firm multiple times, which distracted and confused our hard working team. In short, it was a mess.

How many resources from the vendor's team worked with you, and what were their positions?

Amanda was supposed to be leading our engagement (part of our requirement in hiring them). She did attend the first few meetings but then reassigned us to a junior person --who then left the company, and we were reassigned to someone brand new who never spoke at any meeting beyond introducing herself. It was awkward and embarrassing.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

This is the first time in my 20+ years running our firm that I felt we were 100% misled. Amanda and her entire team made promises that we paid for and which they flat out failed to deliver. There was poor organization, they dropped *frequently* in the middle of zoom calls blaming "technical difficulties," they introduced us to people who were not qualified or had low integrity, and her team published and shared confidential information about our firm multiple times, which materially hurt our business. In short, it was a mess.

How effective was the workflow between your team and theirs?

Horrendous. She responded quickly, but usually made excuses or just apologized without explanation.

What did you find most impressive or unique about this company?

Their marketing, ahead of hiring them. I still am in awe of the massive gap between how professionally they present themselves (which is amazing) and the actual service quality (very poor).

Are there any areas for improvement or something they could have done differently?

Invest in service quality and in the relationships with your customers with honest, direct and consistent communication.

BACKGROUND

Introduce your business and what you do there.

I’m an executive at a B2B demand generation and marketing agency.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Barney, Inc.?

We were trying to sell our business at a price that made sense for everyone.

SOLUTION

What was the scope of their involvement?

At first, they interviewed me and the business. After that, they market our business anonymously to a pool of prospective buyers and then went into the NDA process, qualifying or disqualifying prospects based on fit, funds, and all that upfront work. Once they found interested buyers, they’d set up calls between myself and the potential buyers.

They also helped us with accounting matters and offered financial services in terms of valuation and making sure our books were correct. Consequently, some companies sent us proposals and we ended up taking one of those offers. We went through the due diligence process that took a couple of months, but Barney was there every step of the way through, working with me but also with the buyer to facilitate the deal.

What is the team composition?

We worked with Nick (Broker), Jay (Founder), and Tom (CFO).

How did you come to work with Barney, Inc.?

They reached out to us; we were approached by a handful of buyers off-market. We spoke to Barney and they went through the whole process and explained to us what they could do and said they only focus on digital agencies, which is what got us interested. They proved to us that they knew their stuff, we liked them, and we gave them a shot.

How much have you invested with them?

We invested $75,000 with them. 

What is the status of this engagement?

We met in June 2020, our company was bought in December of that same year, and the deal closed in April 2021.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

It’s tough to put it in a statistical amount but they got and structured the deal for us providing financial resources.

How did Barney, Inc. perform from a project management standpoint?

We had scheduled frequent calls on a weekly basis as well as ad hoc calls. They gave us the freedom to do what we needed. At the same time, when we needed anything, we’d give Barney several unscheduled calls, and they were responsive.

What did you find most impressive about them?

They understood our business well. They captured the size of our company and they treated us like so. We never felt pressured to make a decision so I’d say they cared about us and you rarely get that feeling from other brokers.

Are there any areas they could improve?

It’d be interesting to see an anonymized database with the different deals they’ve done in the past in terms of consulting so you can get a better expectation of their work.

Any advice for potential customers?

Dedicate at least three months to selling your business and, if you have a business partner, focus one person on doing the deal and one person on running the company. I was doing both and that was a lot of work. Also, listen to them and their expertise.

BACKGROUND

Introduce your business and what you do there.

I’m the founder of a digital design agency.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Barney, Inc?

We recently sold the company and they helped us broker the deal.

SOLUTION

What was the scope of their involvement?

They started the process of selling the investment partnership project and then were with us the whole time. They found the right investor for us, walked us through due diligence and financing, then handled the finance part of the process. They held our hand through everything.

What is the team composition?

I primarily worked with Jay (Acquisitions Manager). They’re a pretty small team, so he brokered the whole thing himself.

How did you come to work with Barney, Inc?

He reached out to us a year and a half ago, and we just started talking. It was interesting, the idea of a potential sale. We stayed in touch, and when I looked to actually sell the company I reached out to him.

How much have you invested with them?

We spent $80,000 — a commission of the investment price.

What is the status of this engagement?

They worked with us from October 2020 to January 2021.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They were the authority on the process. I knew nothing about how this worked. They helped me get a great deal.

How did Barney, Inc perform from a project management standpoint?

They were excellent, incredibly buttoned up, and communicative.

What did you find most impressive about them?

They’re very personable and trustworthy. I found them very honest. They have great expertise.

Are there any areas they could improve?

They were awesome, I can’t say anything.