Fastlane AMA: James Altucher; Startups, Publishing, Bloggin More...

[Vigilante]

JA - your latest blog post was not only the best of your writing I have ever seen, but maybe the best blog post I have ever read. It is MUST READ for any Fastlane entrepreneur.

"THE ULTIMATE CHEAT SHEET FOR STARTING AND RUNNING A BUSINESS"

Reposted to https://www.facebook.com/BlazeYourOwnPath

 

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[Darius]

JA - your latest blog post was not only the best of your writing I have ever seen, but maybe the best blog post I have ever read. It is MUST READ for any Fastlane entrepreneur.

"THE ULTIMATE CHEAT SHEET FOR STARTING AND RUNNING A BUSINESS"

Reposted to https://www.facebook.com/BlazeYourOwnPath

Great Post

 

[vtlambo]

JA - your latest blog post was not only the best of your writing I have ever seen, but maybe the best blog post I have ever read. It is MUST READ for any Fastlane entrepreneur.

"THE ULTIMATE CHEAT SHEET FOR STARTING AND RUNNING A BUSINESS"

Reposted to https://www.facebook.com/BlazeYourOwnPath

Great post, thank you!

Hey James,

I'm curious about one of the points in your article. 57) Should I care about margins? No. Care about revenues. I actually worked my business the opposite way around focusing on margins and was able to get through year 1 (with over 3 mil in sales, no funding or anything). We were usually around 50-60%, in some cases around 80% for larger orders. We're expected to do around 10mil this year and always try to keep margins pretty high. I'm not doubting your statement and I'm sure there are vets on here that can probably chime in as well but just wondering your reasoning behind your point?

Thanks again for the AMA, this is gold!

 

[Vigilante]

James. If you are still around, here's another question for you.

Lets say you owned a completely kick a$$ company. It was profitable, and owned it's market share position.

You wanted to cash out. Do you simply wait for someone to come along and express interest, or do you actively market the business as being for sale?

I assume if you are the hunted and not the hunter that the multiple works more in your favor.

How do you go about finding a buyer for the company? Or don't you... do you wait for them to find you?

 

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[deevan]

I thought I would share this from James Altucher's quora page. Excerpt and a link to the full post.

No joke. This is going be a bullet FAQ on starting a business. If you're a lawyer, feel free to disagree with me so you can charge someone your BS fees to give the same advice.

If you can think of anything to add, please do so. I might be missing things. If you want to argue with me, feel free. I might be wrong on any of the items below.

There are many types of business. Depending on your business, some of these won't apply. All of these questions come from questions I've been asked.

The rules are: I'm going to give no explanations. Just listen to me.

The Ultimate Cheat Sheet For Starting And Runni... - The Altucher Confidential - Quora

 

[Mike Kavanagh]

I assume if you are the hunted and not the hunter that the multiple works more in your favor.

I would take this like I would take a very favorable hand in poker. If I just meet raises with the most active bidder, he will eventually go "all in" to either call a bluff or take my bait.

Hook, line, sinker.

If you hold the cards you determine the price.

 

[Edgars]

How do you go about finding a buyer for the company? Or don't you... do you wait for them to find you?

In his writing he always says he keeps sending potential buyers weekly reports about company's successes and growth in general.

 

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[Bosstradamus]

so much good info just on the first page

 

[Vigilante]

James Altucher has written about his perspectives on a 4 year cycle in the life of the business from startup phase ---> operating phase ---> selling phase.

Do any of you Choose Yourself fans have a link to where I can find his writing on this?

And YES I Googled it, but couldn't find the concise information I was looking for on this subject, specifically from James.

To those of you who add snarky comments, here's a link for you:
http://www.prosportstickers.com/product_images/o/1350_mickeymousefinger_attitude__61124.jpg

And to the first person who finds it.... 100 forum points as a THANK YOU.

 

[sitemaster]

James Altucher has written about his perspectives on a 4 year cycle in the life of the business from startup phase ---> operating phase ---> selling phase.

Do any of you Choose Yourself fans have a link to where I can find his writing on this?

I googled it as well, and this is the closest I've found so far. Not sure if it's what you are looking for:
http://www.jamesaltucher.com/2011/04/the-100-rules-for-being-an-entrepreneur/

 

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[Vigilante]

I am searching for a blog post on the subject I think.

 

[Kreedos Phoenix]

I'm going to come back and read through this entire thread. Mr. Altucher is the man! He wrote this article I read roughly a year ago:

10 Reasons To Quit Your Job in 2014
http://www.jamesaltucher.com/2013/01/10-reasons-why-you-have-to-quit-your-job-this-year/

Eye opening and life changing for me...and a year later, I've quit my BS corporate job!
He also wrote a super tight article about reinventing yourself that I read roughly five years ago (I'm on the 5th year and the reinvention is near completion!)

In addition, he gave me some kick a$$ advice on a twitter q&a that he does on Thursdays. I still use that advice to this day and it has opened up a ton of doors for me. Great man for sure and just wanted to give proper acknowledgement. Your words inspired me and made a huge impact on my life and my family's life.

 

[The Grind]

Off topic, did anyone read his new book Guide to Wealth?

 

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