DYB Podcast Show Notes: KAI Research
Doing Your Business with Matt Hartman is a podcast where I interview founders of profitable non-tech businesses that are not backed by venture capital. This week’s episode is an interview with Rene Kozloff, co-founder of KAI Research. KAI performs clinical trials and operated for 28 years before being acquired in 2009. Rene talks about starting the company, building a strong corporate culture, and discusses the acquisition process in depth.
“The people we trained could go to big pharma and make a lot more money. But they stayed with us, and it was because of the culture. So it was really important that the company that acquired us would appreciate it. That’s why we could not go through with that initial deal.”
KAI episode Part 1 covers these topics:
- What does KAI do?
- Founding Story “business? what do I know about business?”
- The clinical trial industry for pharmaceutical research. What even is that?
- Who is in your office? People in lab coats? Turns out, no.
KAI episode Part 2 covers these topics:
- How do you productize clinical trials?
- Do you have repeat customers, or one-off clients?
- Walking away from an acquisition offer because of culture fit.
- How to value the company and the process of selling it. Having a great personal reputation in the industry decreases the value of the company?!
“We looked at [the potential acquirer] and said…there is no way that [our cultures] can be merged…and we walked away.”
As always, if you have thoughts on this episode or others, please leave me a voicemail or shoot me a text at: 646–779–1234
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