I've been trying to get something going for myself for many months now, and I'm realizing it's not going to happen in my spare time. I've been trained in how to acquire businesses from beginning to end, from identifying good businesses for sale to due diligence, financing, negotiation, and closing. I have a substantial network of very experienced and knowledgeable contacts and advisors, and every resource I need to successfully acquire a going business with $5-10mm in sales...
...except the time in which to do it.
Working the night shift and commuting two hours every day is not compatible with this plan. I've tried and tried, and I simply cannot get any traction half-assing this. I can't hold business meetings or make calls to business owners and sellers in the middle of the night, and buying a business is a psychological and emotional process even more than a financial one...if you can't establish some sort of rapport with the seller, you're sunk.
I'm sure there are fastlane plans that I could work on at night in my down time or in the few free hours I find on my days off, but my dreams are too big to be doing drop-shipping or internet marketing or web design as a one-man-show.
If I could ditch the night job and live in my car, hustle my a$$ off, and make it happen, I would have done so long ago...but there's a wife and a 1yr old son waiting for me at home, so I'm responsible for more lives than just my own.
So here's my fastlane plan...find someone willing to finance the process over the next 6-12 mo @ $30-60k, which will entitle them to 5-10% equity interest in the acquired company. This means a $30-60k investment would net a $250-500k equity return (cash-out will be negotiable post-acquisition). Not too shabby, I don't think. There's someone out there who would be willing to bite...I just need to keep knocking on doors.
Once I have my partner/investor, I'll ditch the golden handcuffs and devote 100% of my time and energy to completing that acquisition. I'll do all of the prospecting, research, fundraising, and negotiation. I'll secure the legal help and everything else needed to complete the deal. My advisors, mentors, and management team partners provide a wide breadth of experience and track records to draw upon, and I've really got everything I need to succeed.
While partners from this forum would obviously be welcome, I am really just posting this as "my goal, my fastlane plan". I'm stating this plan, I'm making myself accountable for it, and I'm going to find the partner I need to make it happen. Let's do this.
...except the time in which to do it.
Working the night shift and commuting two hours every day is not compatible with this plan. I've tried and tried, and I simply cannot get any traction half-assing this. I can't hold business meetings or make calls to business owners and sellers in the middle of the night, and buying a business is a psychological and emotional process even more than a financial one...if you can't establish some sort of rapport with the seller, you're sunk.
I'm sure there are fastlane plans that I could work on at night in my down time or in the few free hours I find on my days off, but my dreams are too big to be doing drop-shipping or internet marketing or web design as a one-man-show.
If I could ditch the night job and live in my car, hustle my a$$ off, and make it happen, I would have done so long ago...but there's a wife and a 1yr old son waiting for me at home, so I'm responsible for more lives than just my own.
So here's my fastlane plan...find someone willing to finance the process over the next 6-12 mo @ $30-60k, which will entitle them to 5-10% equity interest in the acquired company. This means a $30-60k investment would net a $250-500k equity return (cash-out will be negotiable post-acquisition). Not too shabby, I don't think. There's someone out there who would be willing to bite...I just need to keep knocking on doors.
Once I have my partner/investor, I'll ditch the golden handcuffs and devote 100% of my time and energy to completing that acquisition. I'll do all of the prospecting, research, fundraising, and negotiation. I'll secure the legal help and everything else needed to complete the deal. My advisors, mentors, and management team partners provide a wide breadth of experience and track records to draw upon, and I've really got everything I need to succeed.
While partners from this forum would obviously be welcome, I am really just posting this as "my goal, my fastlane plan". I'm stating this plan, I'm making myself accountable for it, and I'm going to find the partner I need to make it happen. Let's do this.
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