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  1. Bones81

    Alcohol drinking habits

    HOT! MINDSET 
    I guess entrepreneurs can be a bit different in the sense that they set the culture of their business. So if the owner wants to go out for drinks a lot, it could lead to some issues. It really depends on the dynamics of the individuals involved. I've worked for various large banks here in the...
  2. Bones81

    Salt Lake City (SLC) Utah Meet-up?

    MEETUPS 
    Anyone around this weekend? I could make a trip down to the Strap Tank if that works for others.
  3. Bones81

    Salt Lake City (SLC) Utah Meet-up?

    MEETUPS 
    I'm still a slowlaner and about 30 mins from Strap Tank, so a weekend would be better for me. That being said, I could probably make a weekday work if it was after 6
  4. Bones81

    Ask me anything about eCommerce (Ongoing)

    GOLD! 
    If you were looking to buy an E-Commerce business off a marketplace like Empire Flippers etc what are the top qualities you'd look for in a business? What would make one jump out to you compared to the others?
  5. Bones81

    Salt Lake City (SLC) Utah Meet-up?

    MEETUPS 
    I just moved to SLC last week and would love to meet some people here. @MJ DeMarco would you be interested in meeting some of the flock here sometime?
  6. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    I received an offer from the big bank in SLC and accepted it. I'm not super thrilled going back to the slow lane, but it makes sense in the near term. It will get some decent income coming in while the wife and I settle down in SLC. It also takes the pressure off of feeling like I have to buy...
  7. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    Yeah I'll have to dig into the individual industries and see what the requirements are. For example, I don't believe I can have ownership in a law firm without being a lawyer, even if all I was doing was providing capital and none of the actual work.
  8. Bones81

    What Would Your Passion Business Be?

    HOT! QUESTION 
    Yeah, he's on the Grey Market channel a lot and I've watched some of his videos. The guy is definitely fun to watch.
  9. Bones81

    What Would Your Passion Business Be?

    HOT! QUESTION 
    So all of us who have read MJ's books know you can get wrecked chasing your passion rather than focusing on a business that makes CENTS. So departing from reality for a moment, what type of business would you want to have? Personally, I've been really interested in learning about wrist watches...
  10. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    In other news, I have a job interview tomorrow which I really have mixed feelings about. It's with a big bank in Salt Lake City where my wife and I are planning to relocate to soon. I've loved the freedom I've had over the last 2 years to spend time with family, travel, ski, basically do...
  11. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    So I grabbed the relevant data from the 2022 Business Reference Guide and dropped it into a spreadsheet. I then went in and color coded the data into good (green), ok (orange), and bad (red) to see if any really jumped out to me. On the metrics I selected: SDE & EBITDA Multiples - Generally...
  12. Bones81

    James Webb Telescope: Pics and Discussion

    OFF-TOPIC CHAT 
    It's eerie to think that given the rate at which the universe is continuing to expand, objects in space will be so far apart, there will be no light from other stars. You will look up at the sky, and it will just be emptiness.
  13. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    So I took a look through the 2022 Business Reference Guide and these are the initial list of businesses I believe I could be capable of running: • Ambulatory Surgical Centers • Appliance Repair • Auto Repair Shops • Diagnostic Imaging Centers • Distribution/Wholesale – Beer •...
  14. Bones81

    Elon Musk acquires Twitter, Discuss

    HOT! SOCIAL MEDIA CHAT 
    No surprise here. Guess what he won't be doing next? Buying back all that TSLA stock he sold to fund the acquisition.
  15. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    Yeah, I think that's just the way most people market, always making it seem a bit easier than it seems. The thing I like about her is they present plenty of real world examples, so it does a good job of opening my mind to possibilities and having a more creative and positive mindset when it...
  16. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    Speaking of Cody, they sent out an email today about the trucking business. This is one I've considered before as it doesn't require you to be a rocket scientist to understand or operate. I'm going to dig in a bit more to understand what the industry looks like with gas prices the way they are...
  17. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    Yeah, I'm on her mailing list and they provide some useful info. Recently had an article about purchasing parking lots, bringing in all the automation tech that boost revenues and eliminate employees and making really good returns. No rocket science or reinventing the wheel there, just solving a...
  18. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    I'll do both. Before I can approach anyone, I'll need to know which lawyer, accountant, business appraiser, bank, etc. that I'll be using. So next step is to reach out to these various individuals and start interviewing them. I'll also need to define the types of businesses that I'm looking for...
  19. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    I've considered real estate but haven't really dug into the numbers to see how the returns on something like a multi-family unit compare to businesses I could buy with the same funds. Perhaps now with the economy slowing down and interest rates are driving some people out of the market, RE might...
  20. Bones81

    Exiting the Slowlane by Buying a Business

    HOT! SLOWLANE EXECUTION 
    Thanks for the feedback. As far as the down payment, the most I'd probably do is $250k. That would leave me with a decent amount of liquidity outside of the business, or money to use to grow the business. I'll have to spend some time deciding how much leverage I want to take on. The potential...

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