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  1. DaveC

    How failing sports franchises still draw sellout crowds

    Seinfeld with the nail on the head:
  2. DaveC

    Should I Buy a Business? Is it Cheating?

    HOT! 
    Its a risk profile. You need to do your due diligence. You can buy a house that will appreciate or you can buy a house with a cracked foundation. E-commerce especially with Amazon can be risky especially when you don't have a unique product. If I was looking to launch a product though, the...
  3. DaveC

    How failing sports franchises still draw sellout crowds

    I'm not sure about 10 years....but long term its going to be tough to keep the NFL as it is. Parents are starting to stop allowing kids to play football, and even la crosse or most contact sports. For many small high schools, the liability is going to be too much once more lawsuits start...
  4. DaveC

    Lending Club Investing: Good Passive Income Source? (Answer: NO)

    NOTABLE! INVESTING 
    This is definitely interesting....after a few years of on-time payments from my loans at Prosper, I have 3 delinquent out of 9 now. I saw some similar issues back in 2009/2010. Probably not enough data to infer anything right now but I think we are probably back into a credit bubble of some sort.
  5. DaveC

    2018 Fastlane Summit - Preliminary Probe for Speakers

    MEETUPS 
    Proposal: Buying Web Based Businesses…..Accelerate your Fastlane Ride Why this applies to all Fastlane Forum members….i.e. what’s in it for you? 1) New entrepreneurs - Get started in business for less risk and with often immediate cash flow 2) Intermediate - Grow and add to your...
  6. DaveC

    Chicago Meet Up...

    MEETUPS 
    Not sure I haven't been over there yet, was just more of an FYI.
  7. DaveC

    Chicago Meet Up...

    MEETUPS 
    Hey guys sorry I couldn't make the BBQ meetup. I may try to shoot by this WeWork meetup next week as it sounds like it has some digital entrepreneurs there. Would be great to see other FLF folks there. The Entrepreneur's Workshop | Small group sessions for Chicago professionals
  8. DaveC

    Chicago Meet Up...

    MEETUPS 
    Not sure I can make this one but PM me the address
  9. DaveC

    Chicago Meet Up...

    MEETUPS 
    I may have some availability Sat afternoon or early evening
  10. DaveC

    Achieve Laser FOCUS + PRODUCTIVITY With The System Legendary Fastlaners Use...

    GOLD! 
    I've been in and out of a couple systems, but I follow a few big pillars of the GettingThingsDone system. The big things that I find that were most useful from there are: 1) Get everything out of your head and into some sort of list (paper, Outlook, Trello, etc...) and prioritize from there 2)...
  11. DaveC

    Business has come to a halt. No cash flowing and bills are overdue

    So you are 21 and earning $66-$100 hr? That's pretty darn good. How are people finding you? How well are you converting them? See if you can amp up that piece (leads & sales) with some more legwork. $100/hr is a lot more than minimum wage. If you can't find a good way to grow it, you can...
  12. DaveC

    Selling my Ecommerce Business

    GOLD! 
    Brokers usually require an NDA. While this is hard to enforce it adds some level of protection. Brokers should do a minimum level of DD on the buyer (check LinkedIn, social profiles, etc...) I know that most don't though, so its a risk for sure. I usually provide a profile of my...
  13. DaveC

    Selling my Ecommerce Business

    GOLD! 
    Proof of funds is a delicate subject. Most buyers, including heavy hitters, simply don't have the full purchase price sitting in an account somewhere, its usually in some other assets at least temporarily to get a better return. At the least, they'll usually need to liquidate another...
  14. DaveC

    Selling my Ecommerce Business

    GOLD! 
    The broker should be able to help with the Amazon transfer. IMO, this should be part of the service with web business transaction and needs to be done correctly as Amazon can burn you if done incorrectly, I know as its happened to me. I've never done an LLC purchase so typically the buyer will...
  15. DaveC

    Amazon purchased Whole Foods for $13.7 Billion

    OFF-TOPIC 
    Its hard to bet against Bezos, but this is a risk IMO. Grocery stores aren't really set up for warehousing, and they are low margin businesses. Maybe they think they can automate the checkout and stocking and get higher margins that way by cutting labor down? Its not like a Zappos where there...
  16. DaveC

    Selling my Ecommerce Business

    GOLD! 
    This is big...I've walked away from deals where the guy sounded like a curmudgeon, even when the numbers made sense. There's going to be snags in any deal and there is going to be a compromise. You're going to have to work together on a transition, with suppliers, team, etc... and if someone...
  17. DaveC

    Selling my Ecommerce Business

    GOLD! 
    That's still a pretty rough multiple I've been seeing. I think some Amazon businesses were taking a beating from some of the affiliate changes, sales tax changes, and general concern with Amazon's direction.
  18. DaveC

    Valuing SEO/Adwords/social media customers

    MARKETING SOCIAL MEDIA 
    The longer term deal was more to: 1) Let folks get locked into a current rate if they want, or prepay for a discount. I was going to look at average length of client and offer a longer term option to sign up. 2) Get some additional cash up front from customers to use for additional marketing
  19. DaveC

    Valuing SEO/Adwords/social media customers

    MARKETING SOCIAL MEDIA 
    Yes I would have a transition period for sure and keep using the same team/rates/etc...for at least a few months, although I would look at transitioning some of the work to our internal teams at some point. One of the first things I'll do is try to get them a big discount to sign in longer term...
  20. DaveC

    Valuing SEO/Adwords/social media customers

    MARKETING SOCIAL MEDIA 
    Yes they own campaigns and websites but most campaigns and social media accounts are managed.

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