First, Id like to thanks @MJ DeMarco for taking the time to organize and publish his approach to business. There's so much BS out there, I was skeptical to purchase either book. What ultimately drove me to purchase and read both TMFL and Unscripted was the 1000+ reviews that stated theses are a no BS system of guidelines to business.
As a no-nonsense person this really appealed to me. After reading both; I purchased the paperbacks and audio books, I was ecstatic. Finally! Someone that can think critically and cut the crust off the shit sandwich. Its so much much easier to propagate the easy way of doing things. I'm grateful for these writings as well as the time I spent reading them.
Anyways, I'm (M 31) here to chase the buzz I got after reading these titles and implement them into a new business. I have a scroll worthy list of failed or abandoned entrepreneurship ventures in my life. If you'd like that list let me know. Honestly, I have used three of the five commandments of the CENTS system in my current business without even knowing them. I'm so glad I am now able to define what does work, and more importantly was doesn't, and use this information for my next business.
Here's a quick origin story about my current business:
Employed as a welder in a small local shop, I (M 24) started a metal fabricating business in my garage. I took every dollar I had from my day job, some I didn't have, and built a small scale fabrication business. I didn't really have a business model or a plan, I was just doing what I loved. For me it was a way to fine tune my craft as I wanted to be the best fabricator I could be.
My moon-lighting gig was turned upside down when I was approached to supply steel brackets for a horse training facility that was being custom built by the Amish. This job would require 100% of my time and after much deliberation I decided to quit my day job and work from home exclusively. Many thanks to my wife for being supportive.
Being full time self employed was so exciting that I never formulated a plan after this training facility was finished. I felt invincible.
After completing the job I walked away with around $40k in profit for a summers work and man! Did I work for it. I had no material moving equipment other then my clapped out Chevy Suburban and a shitty landscaping trailer. Over the course of four months I moved over 90k lbs of steel in and out my garage.
When the dust settled, literally, I mean I had metal dust pouring from the soffits and gable vents in my garage. A few choices presented themselves: I could swallow my pride and get another job OR I could use the time that I was afforded to meet more people in my industry and further my metal working career. I chose the latter. This became the most formative time I had ever spent. Meeting with vendors and potential customers had more benefit then almost anything I had done in the past. One conversation in particular lead me to my biggest opportunity yet.
This conversion led me to a business owner in my industry that was ready to retire. His exit strategy hinged on a partner that had recently passed away. Both partners were septuagenarians. We negotiated for around four weeks and spent a good chunk of that time discussing how we could get creative with the purchase, as I only had around $30k at that point.
I felt so out of my comfort zone during this time, I just tried my best to not look like a fool. Turns out he was doing the same. It had been a family business since 1947 and he had no experience dealing with business valuations, real estate and all the things needed to sell a business with tangible assets.
Fast forward through all the boring stuff and I was able to acquire a 10,000 sq. ft. continuously operating welding and fabrication business, on 2.5 acres financed by the previous owner. The only problem is that I was broke! After paying my attorney and the down payment I had about $3k to operate.
On going, the new car smell was the catalyst for operating with paper thin capital but the income and profits were slowly growing. At this point It was just me and one employee.
All the hats I needed to wear were weighing me down. Just the paperwork and reporting alone was practically a full time job. I started to hire more people thru the years and currently employee 6 people with no intentions of hiring more.
Even though were grossing $700k annually something didn't feel right. I was no longer doing something I loved, I was managing people that do (or at least enough to do it 40 hrs a week). It took about a year for me to understand my role in the company, something I never needed to think about.
One day preparing to head home, I climbed into my truck took a deep breath and said, "Shit, now what?". Shortly thereafter I came about MJ's books.
These books gave me that new car smell all over again! It only took five years of growing my "passion" for it turn into another job. Even though we're making nearly $60k gross monthly, I have little free time and have extinguished the love for my work.
Its not all bad though, we're making a profit and my employees seem happy. At this juncture I can afford to take a different approach to a new business and hit it hard without the fear of "What if it doesn't work?".
Personally, I'm a tattoo and BBQ enthusiast that races motorcycles. I'm trying to work on my writing and learn more about e-commerce and marketing. I believe I have a product that is valuable to my target. I'd be happy to share my journey here. Thanks for listening!
As a no-nonsense person this really appealed to me. After reading both; I purchased the paperbacks and audio books, I was ecstatic. Finally! Someone that can think critically and cut the crust off the shit sandwich. Its so much much easier to propagate the easy way of doing things. I'm grateful for these writings as well as the time I spent reading them.
Anyways, I'm (M 31) here to chase the buzz I got after reading these titles and implement them into a new business. I have a scroll worthy list of failed or abandoned entrepreneurship ventures in my life. If you'd like that list let me know. Honestly, I have used three of the five commandments of the CENTS system in my current business without even knowing them. I'm so glad I am now able to define what does work, and more importantly was doesn't, and use this information for my next business.
Here's a quick origin story about my current business:
Employed as a welder in a small local shop, I (M 24) started a metal fabricating business in my garage. I took every dollar I had from my day job, some I didn't have, and built a small scale fabrication business. I didn't really have a business model or a plan, I was just doing what I loved. For me it was a way to fine tune my craft as I wanted to be the best fabricator I could be.
My moon-lighting gig was turned upside down when I was approached to supply steel brackets for a horse training facility that was being custom built by the Amish. This job would require 100% of my time and after much deliberation I decided to quit my day job and work from home exclusively. Many thanks to my wife for being supportive.
Being full time self employed was so exciting that I never formulated a plan after this training facility was finished. I felt invincible.
After completing the job I walked away with around $40k in profit for a summers work and man! Did I work for it. I had no material moving equipment other then my clapped out Chevy Suburban and a shitty landscaping trailer. Over the course of four months I moved over 90k lbs of steel in and out my garage.
When the dust settled, literally, I mean I had metal dust pouring from the soffits and gable vents in my garage. A few choices presented themselves: I could swallow my pride and get another job OR I could use the time that I was afforded to meet more people in my industry and further my metal working career. I chose the latter. This became the most formative time I had ever spent. Meeting with vendors and potential customers had more benefit then almost anything I had done in the past. One conversation in particular lead me to my biggest opportunity yet.
This conversion led me to a business owner in my industry that was ready to retire. His exit strategy hinged on a partner that had recently passed away. Both partners were septuagenarians. We negotiated for around four weeks and spent a good chunk of that time discussing how we could get creative with the purchase, as I only had around $30k at that point.
I felt so out of my comfort zone during this time, I just tried my best to not look like a fool. Turns out he was doing the same. It had been a family business since 1947 and he had no experience dealing with business valuations, real estate and all the things needed to sell a business with tangible assets.
Fast forward through all the boring stuff and I was able to acquire a 10,000 sq. ft. continuously operating welding and fabrication business, on 2.5 acres financed by the previous owner. The only problem is that I was broke! After paying my attorney and the down payment I had about $3k to operate.
On going, the new car smell was the catalyst for operating with paper thin capital but the income and profits were slowly growing. At this point It was just me and one employee.
All the hats I needed to wear were weighing me down. Just the paperwork and reporting alone was practically a full time job. I started to hire more people thru the years and currently employee 6 people with no intentions of hiring more.
Even though were grossing $700k annually something didn't feel right. I was no longer doing something I loved, I was managing people that do (or at least enough to do it 40 hrs a week). It took about a year for me to understand my role in the company, something I never needed to think about.
One day preparing to head home, I climbed into my truck took a deep breath and said, "Shit, now what?". Shortly thereafter I came about MJ's books.
These books gave me that new car smell all over again! It only took five years of growing my "passion" for it turn into another job. Even though we're making nearly $60k gross monthly, I have little free time and have extinguished the love for my work.
Its not all bad though, we're making a profit and my employees seem happy. At this juncture I can afford to take a different approach to a new business and hit it hard without the fear of "What if it doesn't work?".
Personally, I'm a tattoo and BBQ enthusiast that races motorcycles. I'm trying to work on my writing and learn more about e-commerce and marketing. I believe I have a product that is valuable to my target. I'd be happy to share my journey here. Thanks for listening!
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