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Recent content by MatthewFoster

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  1. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Very cool. How did you find your mentor? Do you feel like the mentor has helped your progress?
  2. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Nice! Congrats on your success. How big is your staff? Are you at the store full-time, part-time, or absentee? I haven't created any course content to post. The info product is an idea I haven't pursued. Where are you in the process? What tools did you use to create your info product...
  3. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks for the book and thread recommendation!
  4. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thank you, JScott! Yes! I know it probably doesn't make sense. I agree the business will not be the same without me as the GM. Don't I need 3 years of financials to sell the business at a new valuation? So I need 2 more years of these sales/margins to exit at a new valuation? I will...
  5. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks for your response. Ultimately, I don't feel like I've reached my full potential or performing in my zone of excellence. Yes, I can run this business at a very high level, but just because I can doesn't mean I should. I enjoy working and really enjoy solving problems. I'm not...
  6. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Excellent! You're right. Great perspective. Understanding leverage is definitely a weakness of mine. Overall lack of knowledge. I've lived by the "save up and pay cash" philosophy most of my life. Great advice. A BOD is an excellent idea! I've always browsed business brokerage websites...
  7. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thank you so much!! My intention is to move from the slow lane to the fast lane. If I start another business like the ones I already have from 0, I'll be right back where I am now in a short time. I'm looking to get over the hump, not start back at the bottom. Maybe I'm not understanding...
  8. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    The business started in 2011 is a used car dealership. The business purchased in 2017 is retail automotive repair.
  9. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Just wanted to say thanks again for turning me on to Andy's post. Great recommendation.
  10. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Amen to that. Thanks for the comment. That's exactly how I ended up on this forum and reading MJ's books. I know where I am is not where I want to be. In many ways my businesses own me and not the other way around. I know I have what it takes to lead the life I want, I just have to develop...
  11. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    I have not. I'm certainly interested in Real Estate investing, but have been moderately intimidated on where to begin. The whole "I don't know what I don't know" thing holding me back. For example, my business is on Main St. in an old dairy farming community sandwiched between 2 growing metro...
  12. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Very cool! Thank you. I have been offered the opportunity at a few other businesses nearly identical to mine in the past few months. I've declined for 2 reasons. 1) Staff. Everyone says good people are hard to find. I call BS. Good people are everywhere. The RIGHT people are hard to...
  13. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks! GREAT Question!! The short answer is yes, absolutely. The long answer is not yet. I have limited experience with franchises, but I have to imagine that most franchisees will want to see more consistency over time. I know one great year looks good on paper, but 3-5 profitable years...
  14. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks. Great questions. 2018 was a net loss. 2019 I was able to put myself on payroll and make a net profit of about $90k. I do have experience opening stores and expansion with my first company. When I left, we had 85 employees and 8 locations. Adding locations is definitely something...

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