Thread: My $500,000,000 net worth competitor is on the way out and I...

Hello from NC!

I have a plan. It's been in the works since 2008. I've actually got people working for me for free that will only be paid commission and percentage if they are successful (which is highly possible) and this business is a process (not a quick buck). But I'm hungry for more!

Let me explain (intimate details to the potentially right people only - sorry)...

I am in a position where I can overtake or directly compete with the best of the best. I'm shooting for the stars but honestly even the lower rungs of this business is fantastic. Because I am the founder, I keep significant equity in both what I've created and am given equity from products created based on my original product - to extinction. Basically, I've built a brand.

The leader in the industry rakes in $100 million personal contract a year. She's been in the business for over 10. My business can have success like this if positioning is right. My people are working for it. If all goes as planned, I will have an amazing platform, traffic, and almost unlimited resources to grow it while having substantial guaranteed revenues/income (not to mention my own guaranteed contract).

However, I have some personal issues bogging me down.

Having just picked up MJ's book and not putting it down until I was finished, I realized I was more of a slowlane sidewalker than anything. It pissed me off, admittedly. It's like I ran too fast and forgot to look both ways before crossing the street, getting hit by a moped breaking my leg (not a tractor trailer which would have killed me). I want to change these things about myself.

I've hit financial difficulties that I shouldn't have by losing focus. I admit to them. Now it's time to change.

Unfortunately my road to the fastlane is not overnight and real bills must be paid so I'm forced with a decision: take on an outside investor to let me continue solely on my original plan without falter OR take a full-time job while working on my plan after work. It wouldn't even be a question if it wasn't based on necessity and I had some kind of timeframe to when the plan is worked to fruition, but as a recently married person, I also need to think about my wife.

So experts - I know I've not given much about what my plan is (as contractually from the people working on this for me I can't), but in this situation what do you do? And if you need to sell equity for living expenses, how much is a good percentage (or just a flat percentage return on a principal)?

Will answer anything I can! Gotta go on a run to clear my head!

How much money do you need? How long till you could re-coup that amount?

Is a loan a possibility? SBA or otherwise?

Do you have any revenue at this point? If you have no revenue, you will struggle to find VC money, but may be able to get some Family/Friends to be 'Angel Investors' where you have the option to buy them out later.

I will have my people contact your people...

Wait, you have people but you need to go get a job..

Do this.. pick up your phone book, call the 3-5 biggest business men in town, you know the ones that are always in the paper. Older car dealers, etc.. Make an appt, pitch your heart out..

If you are between getting a job and making 100 million.. Don't be a pansy.. Pick up the phone. Get the deal done.. Even if you have to give up a lot.. Do it..

Originally Posted by JackEdwards

If you are between getting a job and making 100 million.. Don't be a pansy.. Pick up the phone.

Hmmm...get a job or make a 100 mil.

Listen to the person above...

Originally Posted by JackEdwards

I will have my people contact your people...

Wait, you have people but you need to go get a job..

Do this.. pick up your phone book, call the 3-5 biggest business men in town, you know the ones that are always in the paper. Older car dealers, etc.. Make an appt, pitch your heart out..

If you are between getting a job and making 100 million.. Don't be a pansy.. Pick up the phone. Get the deal done.. Even if you have to give up a lot.. Do it..

Wow. I like this forum. I just found it today and there's no ass kissing - just brutal honesty...and honestly what I need. I agree with you. There's still no guarantees I'll get the big deal but I it wouldn't hurt to have a big gun in my pocket as a partner. I'm just waiting on some meetings with my people packaging the deal so I can gauge progress to negotiate a deal. Believe me the job option is not an ideal option but I will still look at every option.

I was trying to think up some advice, but I am not really in a position to give advice...so I'll just ask this:

What part of NC are you in? I'm about an hour north of Charlotte.