I don't consider this my fastlane since someone else is ultimately in the driver's seat, but it is going to be what allows me to begin leveraging my time far more efficiently, and working my way into the fastlane.
I started working with a team of entrepreneurs through an educational program I joined a over a year ago. The focus of the program was business acquisition, financial leverage, and growth (strategies to implement once you've purchased a business). However, many of the strategies in the program could easily be provided on a consulting basis as well to other businesses.
One in particular introduces some extremely powerful cash flow management strategies that give small to mid-sized businesses many of the same advantages as the big multinationals when it comes to tax planning, balance sheet enhancement, qualifying for financing, and attracting investors.
I decided to pursue the opportunity to provide this sort of assistance on a consulting basis to allow me to break free of the time clock tyrant. Since I'm still learning the finer points, I'm merely working as a representative currently, and some of the veteran entrepreneurs are the ones providing the actual strategic planning, but I will be well-compensated for my time...far more so than my current 9-5.
So that's my first step...lucrative self-employment. From there, I'll merge into the fastlane as I gain speed, and take on actual business ownership. Whether that'll be a transition to providing said services directly and taking more control of the process, or if I purchase another business entirely (I'm already negotiating with one local seller for a $4M company) and run with it, we'll see.
Either way with the economic craziness right now, there's a definite need for what I'm going to be doing on the consulting side, and it's certainly a buyer's market for distressed businesses, and those who know how to create the financing for acquisition build their fortunes by consolidating during a bust. Times are tough right now...and that's when empires are created.
I'll post updates here periodically and let everyone know how it's going!
I started working with a team of entrepreneurs through an educational program I joined a over a year ago. The focus of the program was business acquisition, financial leverage, and growth (strategies to implement once you've purchased a business). However, many of the strategies in the program could easily be provided on a consulting basis as well to other businesses.
One in particular introduces some extremely powerful cash flow management strategies that give small to mid-sized businesses many of the same advantages as the big multinationals when it comes to tax planning, balance sheet enhancement, qualifying for financing, and attracting investors.
I decided to pursue the opportunity to provide this sort of assistance on a consulting basis to allow me to break free of the time clock tyrant. Since I'm still learning the finer points, I'm merely working as a representative currently, and some of the veteran entrepreneurs are the ones providing the actual strategic planning, but I will be well-compensated for my time...far more so than my current 9-5.
So that's my first step...lucrative self-employment. From there, I'll merge into the fastlane as I gain speed, and take on actual business ownership. Whether that'll be a transition to providing said services directly and taking more control of the process, or if I purchase another business entirely (I'm already negotiating with one local seller for a $4M company) and run with it, we'll see.
Either way with the economic craziness right now, there's a definite need for what I'm going to be doing on the consulting side, and it's certainly a buyer's market for distressed businesses, and those who know how to create the financing for acquisition build their fortunes by consolidating during a bust. Times are tough right now...and that's when empires are created.
I'll post updates here periodically and let everyone know how it's going!
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