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  1. CPisHere

    I bought a business!

    EXECUTION 
    It's official, I signed the paperwork yesterday to buy a local janitorial service company! I got an insane, unbelievable deal on it. The business was listed for sale a year ago at $200k, and I paid $35k for it yesterday with great terms. In 2015 the executive comp was $150k, but the owner's...
  2. CPisHere

    Out of curiosity. Anyone experienced in Laundromats?

    OFF-TOPIC 
    I recently talked to a banker that said laundromats/drycleaners have one of the highest default rates on loans. I was surprised by that because it's not a passion business so you would think people would run the numbers. But it's a very high overhead business that requires a lot of volume to be...
  3. CPisHere

    You haven't posted in a long time but I saw you said you have Janitorial experience. What have...

    You haven't posted in a long time but I saw you said you have Janitorial experience. What have you done there?
  4. CPisHere

    Investing in Yourself - Right or Wrong Decision?

    Personally I've come to the conclusion that the only GREAT investment in yourself is when you are 100% clear on what you want and the investment has a money back guarantee to help get you there. Everyone selling information tells you that you should invest in yourself. Coincidence? If you...
  5. CPisHere

    Selling a business

    Those sound like your best bets. Your family member could take it to a business broker who might have a roladex of interested buyers.
  6. CPisHere

    WTF does Tai Lopez do?

    GURUS 
    My initial impression of Tai was very low, but I've really come to appreciate how good he is at what he does as a marketer. No need to buy his products, simply pay attention to things he does to sell them (as others here have pointed out). He is a master at it.
  7. CPisHere

    Tax Strategy For Wealth Protection/Investments

    HOT! TAXES | REGS 
    I find this so fascinating. It's a strange mix of my fears about how 'stacked the deck' can be against me and yet how exciting it is to hopefully have it stacked in my favor...
  8. CPisHere

    Which type of business is best for YOU?

    I get it, but lots of businesses meet this criteria so you have to choose one, and certainly individual strengths play a role in which ones they can succeed at.
  9. CPisHere

    Which type of business is best for YOU?

    Managing employees is a part of most businesses - even products. It is certainly a bigger piece to a service business, but I don't see how a product business solves the problem - you will still need people in order to scale.
  10. CPisHere

    Which type of business is best for YOU?

    I'm in a product business and thinking about getting into a service business. :) What do you dislike about the service business and why do you think a product business would be better?
  11. CPisHere

    Which type of business is best for YOU?

    All the internet marketers pitch their type of business as the best - Blogging/Info products E-commerce Amazon FBA Affiliate marketer Etc, etc, etc. Not to mention all the different types of offline businesses. Some of these may be objectively better than others, but ultimately certain people...
  12. CPisHere

    20k cash. What business would you start?

    EXECUTION 
    It would be enough to cover a low cost of living, then you could invest 100% of the income from a job. $20k cash isn't able to do much more than that.
  13. CPisHere

    Deep Work: Rules for Focused Success in a Distracted World

    I read Cal Newport's other book, So Good They Can't Ignore You, and really enjoyed it but found it lacking in practicality for application to entrepreneurship. That's the only thing that has stopped me from picking up this book. Cal is an academic, and though the concepts do apply to us, I...
  14. CPisHere

    Best Books on Improving Profitability?

    BOOKS 
    My margins are pretty good, 50% typically in retail, and revenues are up nicely as well. Here's an example of what I've learned about profitability in retail: A single loser product in an order will wipe out all the gains. But you can't completely avoid losers, so the key is pushing that risk...
  15. CPisHere

    Best Books on Improving Profitability?

    BOOKS 
    These are mostly increasing revenue. And I find that's the problem - there's a lot of advice about increasing revenue. And very little about how to make that hit the bottom line. I own a brick & mortar retail business focused on kids. Revenue growth is fantastic, but it's capital-intensive...
  16. CPisHere

    Best Books on Improving Profitability?

    BOOKS 
    I always assumed that more revenue = more profit. Afterall, your fixed costs stay fixed, so higher revenue should lead to higher net profit %.... right? We all know you just have to "create value" and "run lean", but in my experience profitability is actually much more than that. I've read a...
  17. CPisHere

    6 Months to 6 Figures

    BOOKS 
    I got it free and couldn't get more than 20 pages in. SKIP
  18. CPisHere

    Need some advice: Make or Break it Year

    HOT! 
    Exactly. I haven't read the book, but this concept actually comes directly from "The Goal: A Process of Ongoing Improvement" which just reading about was enough to take action on. The book was recommended to me by Billy Murphy of Forever Jobless aka @snowbank
  19. CPisHere

    Need some advice: Make or Break it Year

    HOT! 
    The real problem was that our sales were being limited by our (lack of) inventory, which was being limited by our (lack of) cash. And the lack of cash was because our sales weren't high enough. So a bit of a catch-22, but once I figured it out we cut expenses as much as we could, added some...
  20. CPisHere

    Need some advice: Make or Break it Year

    HOT! 
    UPDATE (ONE YEAR LATER): My business is up 40% from last year, because I ignored the advice here. It's not because the advice here is bad. I'm actually focusing on all this advice for 2017. It just wasn't the right time. I couldn't put my finger on it when I wrote this, but all the problems I...

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