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Recent content by yungmillionaire

  1. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    I would like to express my gratitude to each and every one of you here for the responses. My thinking has always been that it's impossible to sell to a bigger player because the business is so niche. This thread has opened my thinking to selling to an investor or fund instead. Since the thread...
  2. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Thank you for your kind words. Unfortunately, I don't have any employees that are capable for this role. In the ideal scenario I would promote from within, because that person would already be familiar with the business. I don't have any good candidates, hence I am left to source for a GM/CEO...
  3. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Thank you for your kind words. Likewise I wish you the best in your future endeavors.
  4. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Thanks for your input! I never thought of engaging a third party company to connect me with a buyer. Perhaps I will explore that. If I can't sell, then I will hire a GM. Appreciate these words of wisdom.
  5. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Appreciate your thoughts. I agree - after making some money and doing the same thing for 4.5 years, I've slightly lost the hunger to continue for this particular business. I need to hire a hungry CEO and focus on other things. Giving away 10-15% equity makes sense. However, I think finding a...
  6. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Thank you very much. I operate in an extremely niche field so it is impossible to sell the business. So I guess my only option now is to hire a General Manager or CEO to take over me and run the business.
  7. Y

    I am 29. My business makes me $2m in income a year. What next?

    QUESTION 
    Hi everyone. Grateful for this community here. I first created an account here almost 6 years here with the dreams of becoming a millionaire. That dream is now achieved but I am thinking of what to do next. Context: -I am 29. I founded a business 4.5 years ago in the online education space...
  8. Y

    To all CEO/Founders, what designation do you put as your email signature?

    I have been deliberating this for some time now, being the sole founder of a small business (less than 10 staff). I have been putting my designation as 'Business Development' on my email signature. Calling yourself a CEO/Founder to me implies that you are a leader of a large organization. A CEO...
  9. Y

    Doing $75,000 USD Per WEEK (Service Business)

    GOLD! HOT! EXECUTION 
    Absolutely true.
  10. Y

    Approaching supplement manufacturer

    Hi everyone, I am looking to private label my own health supplement. I have narrowed down a list of local contract manufacturers to approach. I have a couple of questions: 1. How do I approach them as an individual, without coming off as a complete noob? I have not even incorporated a...
  11. Y

    [Progress] Sanctus Nutrition - Supplement Company (and first real entrepreneurial pursuit)

    NOTABLE! 
    Hi @Brewer07 , The amount of value contributed by members in this thread is amazing. I'm just wondering if there has been any updates. I see that Sanctus is still operating so that's good news.
  12. Y

    Perfectionism is a plague, introducing Johnny Neverstart!

    NOTABLE! 
    Just dropping by to say thank you for this thread. Reading this has made me realise that I am somewhat of a perfectionist and procrastinator and have wasted unnecessary time on the minute details - be it on schoolwork before or business now. I will execute fast, fail fast and learn fast from...
  13. Y

    Come and watch me make FU money: Over $100K/mo now.

    GOLD! 
    Just dropped by to say thank you so much for sharing your progress. Considering you are doing B2B sales, I have a couple questions: 1. How do you decide how much inventory to hold? 2. Why not use a pre-order system so that you do not have to hold inventory? So for example, you bring a sample of...
  14. Y

    You’re not selling wholesale?

    NOTABLE! 
    Hi everyone, I am a bit confused. Do you guys brand your own products and wholesale it to stores? Or are you wholesaling existing brands to stores?
  15. Y

    I've Read UNSCRIPTED!

    GOLD! HOT! 
    read the book!
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