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  1. Rich Wood

    Questions about Venture Capital

    I'm not an expert in VC, but have been a limited partner in a few funds. I've also stayed very close to some of the investments our funds have made over the years and been an adviser to a couple of funds. Keep in mind there are a lot of different funding sources available to entrepreneurs...
  2. Rich Wood

    Not taking action because I'm afraid of creating myself a job.

    I know that MJ is not a fan of Biz Plans, but I've done a fare share of these in the past. The only part of the biz plan, that I really value is the financials. Why, because a quick back of the envelope calculation can save you a lot of unnecessary effort and time. I have thought of several...
  3. Rich Wood

    The Jockey, The Horse, and the Track

    This is a post about investing, selecting the right employees and investment professionals to build your track. My question is how to you pick the right Jockey and Horse, and establish the track for them to succeed. I'm not talking about gambling, but choosing the right leaders (the Jockey's)...
  4. Rich Wood

    Value of your local Chamber of Commerce

    I appreciate your comments MJ and lowtek. Your feedback is greatly appreciated, and I have a great deal of respect for both of you. It can be very challenging to find others with similar ideals and interests, who actually are fastlane participants, and not merely salespeople. I'll look to...
  5. Rich Wood

    NOTABLE! Developing Relationships With Top Players - Master Thread

    High rollers are typically very busy people. Getting on their calendar can be tricky but feasible if you know the appropriate way to ask. I worked with a colleague that is a VC, and now advise him on a Private REIT. I've assisted in his fundraising efforts, and so finding accredited investors...
  6. Rich Wood

    NOTABLE! Developing Relationships With Top Players - Master Thread

    Excellent list of groups. Well done on the list and thank you. I'm also aware of a group in the Western United States called Corporate Alliance and the C4 group which is made up predominately of owners of mid-level revenue companies (private companies) that go on re-treats each year and hold...
  7. Rich Wood

    Value of your local Chamber of Commerce

    Today, I attended a speed-networking local Chamber of Commerce Event - called First Fridays. There were over a hundred attendees, all representing different companies, products and services. We spent about 2 mins each pitching who we were, what we did, and what our ask was. After everyone had...
  8. Rich Wood

    Best way to fastlane the absorption of MJ's books.

    Thank you for your feedback and great ideas. I will plan to attend the annual forum in the coming years. I was un-aware of the meet-up functions, so I apologize for the naivety. I'll be sure to prep a bit more, prior to starting a question or a request. I'll look into a local group as well...
  9. Rich Wood

    Businessmann or Dealmaker? Which way is faster to real wealth?

    Thank you for the question. I read a lot of business articles, and am constantly tracking local news stories. I am especially interested in tech trends in my area, real estate opportunities. I was listening to MJ's book today, the fastlane, and he writes about, when everyone rushes in the...
  10. Rich Wood

    Best way to fastlane the absorption of MJ's books.

    Over the past month I have listened via audible to both of MJ's books. On planes, in my truck - via bluetooth, while with my daughter at the park, running in the mornings, and basically any other free time I had. First off the books are fantastic, and are extremely trans-formative. I don't...
  11. Rich Wood

    INTRO I'm Looking To Join The Fastlane

    Welcome! Congrats on taking risk early in your career. Don't worry, $15k will seem like a deposit for the greatness you will achieve. I recommend a couple of things to help you in your journey to freedom. 1. Look for a mentor or someone that can help you in your path. Meet with them...
  12. Rich Wood

    Can I Have Friends ?

    My closest friends are the ones I am in business with. I've found as I get older (getting married, having a child), that my friend scene has diminished, but those I have business relationships with stays strong. I invest with my friends, travel for board meetings with my friends, and deal...
  13. Rich Wood

    Do you think the planner niche is already oversaturated?

    Hi, my two cents :) Every Sunday I sit down with my Moleskine notebook and plot out my week, by listing the days and themes for each day. I then list my highest priority tasks and place them in the days - reserving time for them. I also clump certain activities together, reducing bouncing...
  14. Rich Wood

    Light Commercial Development - Seeking Advice

    A couple more updates for the team. I've found a parcel - $950k. Spoke to the city planner and they are supportive of the idea. Working on the financials, and the plot layout of the property. Will likely be fundraising soon (my capital + others). Have two banks in mind for the debt financing...
  15. Rich Wood

    Businessmann or Dealmaker? Which way is faster to real wealth?

    From my perspective - owning a business gives you the opportunity to do big deals. For example I have a VC friend who got in on the ground floor of a recent unicorn business, and now has sold a large portion of his stake, and moved the money to a real estate fund in a large A Type property -...
  16. Rich Wood

    Closing business, now what

    I have a great deal of respect for individuals like yourself. True entrepreneurs who laid it on the line for several years. Don't get down on yourself. Think of this time as a rejuvenating opportunity, to pivot into something you really want to do. Less work, more free time to pursue things...
  17. Rich Wood

    RANT Job finding

    The resume is only one piece in the hunt for the best job for you. I hire and let go on average about 20 people a year. The main thing I look for is good communication skills, a positive attitude, the ability to learn and contribute, with a drive for success. Most of what you will need in...
  18. Rich Wood

    INTRO Hello every one future entrepreneur here!

    Welcome! Chi-Town is a great place. First off, the fact that you are in school is great! Keep it up and finish. Build a network of successful people while there. Use this time to find others like you that can help you grow a business. Also, most colleges have great entrepreneurial support...
  19. Rich Wood

    NOTABLE! Starting a lawn care service business

    Things to consider if you plan to grow and become an official, law abiding and sustainable company. Liability insurance, workers compensation insurance, un-employment fees, paid time off, social security match, and taxes. Will you W-2 or 10-99 your employees. If you control their schedules...
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