I have a buddy that used to be a Mergers and Acquisitions advisor for JP Morgan. He left JPM and started consulting on his own, from a small office. It's him and his assistant.
He earns a sweet, high 6 figures from fees, but here is the kicker, he's using his consulting fee's to buy businesses. :0) He own's 5 small businesses that generate about $25-$30/millions in annual sales. He uses some of his consulting fees along with the profits of the businesses to buy other businesses. He says he can usually get his money back within a year. These are businesses that do $5-$10 million a year in sales.
All of which are managed by professional managers, he oversees things and manages the numbers from dashboards. These are the most unexciting businesses that one would want. (that's the beauty of them).
2 of the businesses are: wooden pallet maker and industrial packaging maker
His plan is to build them up and sell them over time. He says he always wants to keep at least 5 businesses at any given time that he's planning to sell. He's a 45y/o guy but he has a great lifestyle and plenty of coin put away.
Would you guys consider this a FASTLANE approach? Maybe not the way the book presents it but I think he's doing it his own way.
He earns a sweet, high 6 figures from fees, but here is the kicker, he's using his consulting fee's to buy businesses. :0) He own's 5 small businesses that generate about $25-$30/millions in annual sales. He uses some of his consulting fees along with the profits of the businesses to buy other businesses. He says he can usually get his money back within a year. These are businesses that do $5-$10 million a year in sales.
All of which are managed by professional managers, he oversees things and manages the numbers from dashboards. These are the most unexciting businesses that one would want. (that's the beauty of them).
2 of the businesses are: wooden pallet maker and industrial packaging maker
His plan is to build them up and sell them over time. He says he always wants to keep at least 5 businesses at any given time that he's planning to sell. He's a 45y/o guy but he has a great lifestyle and plenty of coin put away.
Would you guys consider this a FASTLANE approach? Maybe not the way the book presents it but I think he's doing it his own way.
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