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- Jul 12, 2022
- 86
- 193
Howdy.
Not sure if this is the place for me or not but I'm looking to glean whatever wisdom I can here. I read TMF a few years ago and it definitely inspired a paradigm shift but at the time I wasn't in a great place to make a big move. But now I am.
I'm in the US, got my bachelors and masters engineering degrees and have worked in manufacturing my whole career. Mostly in a technical capacity with a few reports, but also as a superintendent with ~150 people under me.
For the longest time my goal was to be a plant manager, and I almost got there. I could possibly still do that but now I'm thinking of taking a different path and aiming higher. I want to run my own manufacturing business. I want to reap the freedom and rewards for my decisions.
Over my career I've been responsible for improvements that made the companies I've worked for millions of dollars per year. In return I got a stabile paycheck and benefits and regular promotions. But half the time those promotions came from changing companies. And a bad boss cares more about helping his personal career than company performance, so there has been setbacks too.
I currently have a good, cushy, comfortable job. But it's boring and with limited opportunity to grow. I have some money saved up and am getting some inheritance that could be used to support my wife and 2 kids for a few years while I transition to something else.
My plan is to buy a small manufacturing business with an SBA 7a loan. I have 2 houses and selling one should net around 200k, which I'll use for the down payment. I'm looking at businesses in the 1-2 million dollar range.
I don't know if this qualifies as "fastlane" or not, but it is a step out of the slow lane at least.
I'm glad to be here and looking forward to learning.
Not sure if this is the place for me or not but I'm looking to glean whatever wisdom I can here. I read TMF a few years ago and it definitely inspired a paradigm shift but at the time I wasn't in a great place to make a big move. But now I am.
I'm in the US, got my bachelors and masters engineering degrees and have worked in manufacturing my whole career. Mostly in a technical capacity with a few reports, but also as a superintendent with ~150 people under me.
For the longest time my goal was to be a plant manager, and I almost got there. I could possibly still do that but now I'm thinking of taking a different path and aiming higher. I want to run my own manufacturing business. I want to reap the freedom and rewards for my decisions.
Over my career I've been responsible for improvements that made the companies I've worked for millions of dollars per year. In return I got a stabile paycheck and benefits and regular promotions. But half the time those promotions came from changing companies. And a bad boss cares more about helping his personal career than company performance, so there has been setbacks too.
I currently have a good, cushy, comfortable job. But it's boring and with limited opportunity to grow. I have some money saved up and am getting some inheritance that could be used to support my wife and 2 kids for a few years while I transition to something else.
My plan is to buy a small manufacturing business with an SBA 7a loan. I have 2 houses and selling one should net around 200k, which I'll use for the down payment. I'm looking at businesses in the 1-2 million dollar range.
I don't know if this qualifies as "fastlane" or not, but it is a step out of the slow lane at least.
I'm glad to be here and looking forward to learning.
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