The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Join FREE
Download Books
No Ads? Join Insiders
Free registration at the forum removes this block.

Search results

  1. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Can you explain?
  2. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Very cool. How did you find your mentor? Do you feel like the mentor has helped your progress?
  3. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Nice! Congrats on your success. How big is your staff? Are you at the store full-time, part-time, or absentee? I haven't created any course content to post. The info product is an idea I haven't pursued. Where are you in the process? What tools did you use to create your info product...
  4. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks for the book and thread recommendation!
  5. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thank you, JScott! Yes! I know it probably doesn't make sense. I agree the business will not be the same without me as the GM. Don't I need 3 years of financials to sell the business at a new valuation? So I need 2 more years of these sales/margins to exit at a new valuation? I will...
  6. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks for your response. Ultimately, I don't feel like I've reached my full potential or performing in my zone of excellence. Yes, I can run this business at a very high level, but just because I can doesn't mean I should. I enjoy working and really enjoy solving problems. I'm not...
  7. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Excellent! You're right. Great perspective. Understanding leverage is definitely a weakness of mine. Overall lack of knowledge. I've lived by the "save up and pay cash" philosophy most of my life. Great advice. A BOD is an excellent idea! I've always browsed business brokerage websites...
  8. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thank you so much!! My intention is to move from the slow lane to the fast lane. If I start another business like the ones I already have from 0, I'll be right back where I am now in a short time. I'm looking to get over the hump, not start back at the bottom. Maybe I'm not understanding...
  9. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    The business started in 2011 is a used car dealership. The business purchased in 2017 is retail automotive repair.
  10. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Just wanted to say thanks again for turning me on to Andy's post. Great recommendation.
  11. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Amen to that. Thanks for the comment. That's exactly how I ended up on this forum and reading MJ's books. I know where I am is not where I want to be. In many ways my businesses own me and not the other way around. I know I have what it takes to lead the life I want, I just have to develop...
  12. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    I have not. I'm certainly interested in Real Estate investing, but have been moderately intimidated on where to begin. The whole "I don't know what I don't know" thing holding me back. For example, my business is on Main St. in an old dairy farming community sandwiched between 2 growing metro...
  13. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Very cool! Thank you. I have been offered the opportunity at a few other businesses nearly identical to mine in the past few months. I've declined for 2 reasons. 1) Staff. Everyone says good people are hard to find. I call BS. Good people are everywhere. The RIGHT people are hard to...
  14. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks! GREAT Question!! The short answer is yes, absolutely. The long answer is not yet. I have limited experience with franchises, but I have to imagine that most franchisees will want to see more consistency over time. I know one great year looks good on paper, but 3-5 profitable years...
  15. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Thanks. Great questions. 2018 was a net loss. 2019 I was able to put myself on payroll and make a net profit of about $90k. I do have experience opening stores and expansion with my first company. When I left, we had 85 employees and 8 locations. Adding locations is definitely something...
  16. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Sorry for the confusion. The numbers are gross are sales figures, not net profit. I never meant to imply profit. Thanks for the "low self-esteem" swipe though. Haha. I'll check out Andy's thread.
  17. MatthewFoster

    From $575k in 2018 to $1.1M in 2019. Now what?

    Hey Fastlaners!! I hope you all are making serious progress with your ventures! I'll try to keep this as short as possible. Long story in a nutshell...in 2011 a friend and I started a company from scratch. That business has grown exponentially in that time($0 in 2010, $5.8M in 2014, $31M in...
  18. MatthewFoster

    Man's Search for Meaning, by Viktor Frankl

    HOT! 
    I've seen this book recommended 100 times. It has to be the most recommended book from people that overcome huge obstacles in life. I read it about a year ago. It didn't have the profound impact on me that many readers describe. That's probably because I was already lubed up at the time with...
  19. MatthewFoster

    Self-inflicted wounds and my "F*ck this!" moment......

    INTRO 
    Exactly. I'm glad someone understands. I still catch myself in negative thought patters about all the time I lost and missed opportunities. I've learned to quickly correct my thought pattern to be grateful for all the lessons I did learn and all the blessings that came from that time period...
  20. MatthewFoster

    Self-inflicted wounds and my "F*ck this!" moment......

    INTRO 
    Thank you. I'm happy to be here.
Top