The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Please Leave the Politics to CNN and FOX.
    Just a reminder that political topics/memes are prohibited, unless discussed within the realm of business and investment, for example, the impact the new Treasury Secretary might have with BTC. Please help keep the forum free of politics. (And I promise to do better myself!)
  • Join 60,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

EXECUTION Mr. Trash's journey to shakeup Private Equity (Trash Panda Capital)

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
October 23rd to October 30th, 2020.

Word of the week is kindness. More about that here.

Trash Panda Capital
I closed a three month (for now) business management deal under Trash Panda Capital, to provide revenue operations & Salesforce services to a client.

While this is a Slowlane thing, it helps cover my personal expenses and provide a good amount of capital to fund the business. I've been thinking about turning it into a productized service also and eventually getting out of the day to day with it, as that could be a major revenue generator. Another idea is to offer it as a free resource on the website, or one I can sell. Right now, its the small part of the Slowlane I am willing to accept to keep my head above water and fund other parts of the company.

I've signed a few more agreements with some more Private Equity firms to be a scout for them. Now I need to build up the network more and begin to connect buyers and sellers.

I'm a bit disappointed that I have not spent too much time in this area so far, as the scout rates are quite lucrative. Some of these private equity firms will pay out anywhere from $25k to $500k, which makes it a no brainer to get this up and going. The problem right now is that everything else in the business is taking time away from this, and it's a very long term game due to the nature of acquisitions. It will grow with time :)

Ok, and now the thing that has been sucking up most of my time, closing the deal on the on the aviation drawings website.

After finishing due diligence, I shot an offer over to the buyer, with a proposed downpayment in Escrow, price, and then the monthly payments. I got quite a response that I did not expect, that the seller refused to go into Escrow!

Why do you ask? Well, long story short, the Seller got scammed by someone via Escrow (seller sold services, delivered them, got paid via Escrow, buyer filed a dispute after money was released, seller is now fighting Escrow to prove he provided services), and wrote all the services off. Similar to what some shitty people do with PayPal. I got him to agree on using the service, but now I have to use a different service all together due to their stupid requirements! SIGH.

Thankfully the seller has been awesome and patient as I have asked questions, done my homework, and we have negotiated and are working towards a deal. The best part was when he dropped the price by $25k due to the sellers wife ;)
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
October 31st to November 5th.

Word of the week is Break Time. More about that here.

Its been quite exhausting getting back to a Slowlane job, but I am working through it. That and the election have put a ton of stress on myself. Biggest problem has been a lack of sleep and adjusting to a set schedule working for other people again. I hate it as I have had a taste of the Fastlane for the past 2.5 months, but I have accepted the fact that I need to get some income to work towards a permanent Fastlane life.

Trash Panda Capital

Officially closed on the Aviation Drawings website on October 31st. I’ll share it next week as I am still working on the asset transfer. Crazy that this deal went through, and at a lower purchase price than what I expected! Now that I have this first acquisition under my belt, I’m pausing on further ones unless something comes up that I need to have. I need to focus on growing this port-co, consulting and finally building up the scouting business.

As mentioned above, I started with my first large scale consulting client this week, and its been a ride dusting off brain cells and doing prep work for action next week. That and the fact that their previous Salesforce admin did stupid things in their system.

Good news on top of that, I signed a second consulting client (third really, as I had one before these two, but it is tiny. ) This one is 5-15 hours a week for three months. Its good to have this money coming in, but I want to replace it with port-co and scouting income. With time...

Speaking of scouting, no updates on that front, but I am beginning to take a step back and plan next steps. I really want to automate the outreach as much as possible, to save time that can be used to build up relationships with sellers and buyers. Thats going to involve me learning how to actually code most likely, which is scary.
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
November 6th to November 12th

I finally unveiled the first acquisition this week, more about that here.

Trash Panda Capital

Finally closed out the acquisition and I am beginning to unpack everything. It needs a bit more work than I thought, which stinks, but it is still a good deal. It did put me in a bad mood for the first part of the week, but I am over it now.

Other than that, not much else is going on. I've been working 26 hours a week for a consulting client, with another one starting next week, and I have done some other brainstorming here and there for scouting, but to be quite honest, I've sat in a depressive state. I'll get through it though. Hopefully.
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
November 13th to November 19th

I'm a lazy, depressed POS who forgot to post an issue this week, more about this here.

Trash Panda Capital
I've been neck deep in clients and haven't done too much with the store. However, I did publish a banner ad on a large aviation website, and I am starting to see the traffic flow in.

I also deactivated the physical products (for now), until I get them set up as options. It has helped to consolidate the product line and re-focus on getting traffic to convert instead of visitors being confused.

I'm aiming to shoot out a Black Friday email with a coupon to my email list (which is surprisingly large), hoping that will help with conversion.

Also a lot more work to come... stay tuned.
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
November 20th to December 2nd

I'm going to go to bi-weekly posts on this thread. Too little going on. I wrote about it here in my newsletter too: Issue #40 - Newsletter Update ️


Trash Panda Capital
Still neck deep with my primary client. I fired a client on December 2nd also, and it felt refreshing. Most likely what will happen with this client, is that I will go and work for them full time, to provide a stable income while I grow Trash Panda Capital. I honestly need this right now, and the place is a the perfect fit for me.

I've made alot of changes with Aerodrawings. First, I blasted out some marketing emails with coupons to drive conversion up on Black Friday/Cyber Monday. I offered some deep discounts on purpose - to reactivate old customers, and also because my product and overall costs allow me to. More campaigns to come this month.

On the marketing front, I am eager to get started on Instagram and Pinterest marketing, but I have been battling Pinterest to get the account unlocked so nothing on this yet.

In the next few weeks, I have a massive plan to overhaul all of the products and optimize everything from SEO to Pictures and Variants. I plan on also adding Physical product variations to replace the old ones I deleted. Shopify doesn't make this easy.

Project X

Introducing Project X. Calling it this because we do not have a name for it yet.

Remember a few months ago when I was talking about partnering with a friend to open a fund? This is it. We are not sure if we are going after a fund or another finance related vehicle, but we are working on incorporating a partnership and then looking at our options. I'm excited about this one as we are a founder fit.

Project RE

Also introducing Project RE, another unnamed project. I'm working on the early steps of partnering with my girlfriend to pursue real estate investment and development opportunities. Updates will be sporatic on this one.
 

Jasper S

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jul 14, 2020
36
43
107
Chicagoland Area
It's great that you are honest with yourself and have a good idea of what you need to do in order to continue to pursue your fastlane goals. Even when it means taking a slowlane job. Bonus points for it being a good fit.

Also, I feel like I should say congrats on firing a client! I'll bet it's not an easy decision to make, but it seems like it was what needed to be done. Not worth the effort, or the headache.

It is wonderful to see you are still pursuing your goals and continuously building your business(es). Keep up the great work! :smile:
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
It's great that you are honest with yourself and have a good idea of what you need to do in order to continue to pursue your fastlane goals. Even when it means taking a slowlane job. Bonus points for it being a good fit.

Also, I feel like I should say congrats on firing a client! I'll bet it's not an easy decision to make, but it seems like it was what needed to be done. Not worth the effort, or the headache.

It is wonderful to see you are still pursuing your goals and continuously building your business(es). Keep up the great work! :smile:

This means alot, seriously. Its been a bit tedious with AeroDrawings because of the amount of work needed to take it to the next level, it is a good base but needs alot of small and not easily made tweaks (SEO, variants, product cleanout, operational efficiency). Its also losing money (due to the payment), but its a small amount. Just frustrated with it overall but every time I get into it, I am extremely happy and satisfied to see the changes, and also see verification that they work with customers buying the product.

I'm lucky that my largest client currently will most likely be the one that I join full time, and they have a Salesforce instance that is aviation focused. Keeps me challenged and interested and makes it much easier to work in the slow lane. Seriously. My mental health has been at all time highs doing everything I am doing, even though I have those very low moments where doubt creeps in.

Now that I am also looking at other income strategies, it makes it even easier to get to the fastlane. Hopefully.
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
December 3rd to December 18th.

I know I am late with this one. Sorry :) Its been busy between work and

I wrote a long newsletter post about what has been happening with my first acquisition, Aerodrawings. Check it out here.

Trash Panda Capital
AeroDrawings has been taking up most of my time. I finished a large scale redesign of the website, products, and some of the social media pages, and ramped up marketing with extremely positive results. Nearly doubled last year's numbers for this time, and organic traffic driven orders keep piling in. My focus now is to dial up social media, email and forum engagement, along with regular promotions and adding more product. I've been cutting expenses also, like paid advertising, as that is ironically not doing anything for me. What a shock. Its good to know as this reduces my burn rate dramatically.

I need to get scouting going. I know there is a MASSIVE evergreen opportunity scouting not only for buy-side players (PE firms), but also scouting for brokers, as I talked with one recently that offered 10-20% of his 6-10% cut on a deal if I source it. Not chump change by any means. And its easy once I build the network. No more excuses.

Project RE
I've made this officially a part of Trash Panda Capital, focused on real estate development and investment. Felt natural to just add it to what I was doing, as real estate has been a LONG (10+ year) passion of mine. Mainly working on research into investors/fund strategies, trends in a certain area in Western Michigan, and also playing around with some container home designs I have had in my brain for years (a little bit of my secret sauce I am cooking up). I'm actively working my GF to build up hers (our) portfolio as we investigate multi-family properties around here. Perks of dating a realtor. Future updates will be in the Trash Panda Capital category.

Project X
My partner and I are actively working on this one, just struggling with a name. Looks like it will be VC focused.
 

MrTrash757

Resident Trash Panda
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 31, 2020
223
277
166
Grand Rapids, MI
December 19th (2020) to January 10th (2021)

Happy New Year! Its been wicked busy, so I know this post is late. I'll be posting bi-monthly on random days now.

I wrote a newsletter post about 2021 goals, fessing up to some mistakes I made last year, and also showcasing where I want to go this year. Check it out here.

Trash Panda Capital
With the holidays over, my focus with AeroDrawings is to dial up social media, email and forum engagement, along with regular promotions and adding more products. January and February are traditionally slow for retail also, so I need to be prepared for that hit. Due to a massive tax refund this year, I am also looking at paying the seller off early to get some positive cashflow with the business. My goal for January is to get everything on autopilot (mostly), so I can begin to focus on other endeavors.

I sent my first scout deal off to a potential buyer, fingers crossed it closes. Kick back would be 10-20% of his fee (which is a good amount to start). I am actively looking to grow my scout network of buyers and sellers to get some more pipeline going. Feeling extremely confident with this (and everything else).

On the real estate side, most of my time has been researching the investor and Urban Planning side, to get up to speed with what I need to look at and learn. I am also looking at getting my realtors license later in the year and joining the team my GF is on. Eventually, once she gets her broker's license, I'll hang up mine with her. I'm also working on rekindling the creativity I had in urban planning school, working on home and community designs with big goals.


Project X
My partner and I are actively working on this one, just struggling with a name. Looks like it will be VC focused with an advisor side. We are two squirrels so it makes it hard to work sometimes. Maybe that should be our name, Squirrel Capital Partners. :rofl:
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Yeah, your youtube channel is incredible and all the videos I have seen so far are really great...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Finally! I just launched a short story on Kindle (FREE if you have Kindle Unlimited)! After...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
I planned to make a separate post for this video but it is useful here as well for anyone...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Last promo of the year.. Get the training you need now or miss it. Promo Code: FINALHOUR...
  • Sticky
MARKETPLACE Kill Bigger Incubator
UPDATED POST: Hey Guys! I wanted to give a quick update on what this program has become. In...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom