If you're someone who has been spinning their wheels for years and haven't had success in business, then this post is for you.
I dedicate this post to my FLF E'Com buddies (you know who you are)...
Before May, 2018 the stats for my five-year entrepreneurial career went something like this:
In February 2018, I decided that it would be beneficial for my situation to buy a ticket to the Fastlane Summit to find some much needed clarity and guidance on the matter. To my surprise I found that and much more; real friends, mentors, and unprecedented accountability. Up until that point, I didn't really have any business buddies that were going to help me "kick it in the a$$." It turned out that a kick in the a$$ is all I really needed to make sh*t happen.
During that time, the Desert of Desertion was real with my soon-to-be Sports Bra company. Prototypes were failing and costs (time & money) were starting to rack up with no end in sight.
A now friend and mentor from the Summit suggested that I buy a business.
I think he knew that I was the type of person who needed to be occupied and he pitched his suggestion as a course in learning how to import and sell online while I wait for more prototypes to fail... The last thing that I wanted to do at the time was shop business deals.
This was met with a high-level of resistance (after all, I had gotten burnt badly from the last deal that I tried to do), but here is the turning point where things go from zero to 400 mph.
My online search took me a single day and I only looked at three diffrent businesses when I decided to engage an owner on 04/22/18.
On 05/08/18 (16 DAYS LATER) I had closed on the business with inventory in my storage unit and digital assets in hand.
With a little hand holding from the mentor and excellent communication, I was able to do something in 16 days that took me more than a year to do (unsuccessfully) just a year prior.
Yes this purchase was much smaller, but the amount of work that goes into it is all the same. I think that bad deal taught me; what to look for, how to valuate businesses, and be more confident at the negotiating table.
So it wasn't all for nothing, was it???
Fast forward to today (nine months later), and here are the major successes that I've had. Do not take this as bragging. I say "success" with as much modesty as possible. This is merely to show you what can happen in a very very short amount of time.
To Conclude:
If you've been spinning you're wheels for years without much success, try buying a business.
For a sum of money that most people can afford or take a year to save up and get, you can tap into your true potential and execute your a$$ off.
Let's face it, some people are better at taking existing things a making them better than they are at starting something brand new.
Are YOU one of those people??? Now it's your turn.
I dedicate this post to my FLF E'Com buddies (you know who you are)...
Before May, 2018 the stats for my five-year entrepreneurial career went something like this:
- Read how to be an entrepreneur= 2 years
- Passive Real Estate Investing= + $50-75k , 5 years
- Blog on Real Estate Investing= - $2k , 2 Years
- Failed Construction Business Deal= - $12k , 1 Year
- Failed Construction Business= - $10k, 6 Months
- Sports Bra Company (never launched)= - $6-8K , 1 Year
In February 2018, I decided that it would be beneficial for my situation to buy a ticket to the Fastlane Summit to find some much needed clarity and guidance on the matter. To my surprise I found that and much more; real friends, mentors, and unprecedented accountability. Up until that point, I didn't really have any business buddies that were going to help me "kick it in the a$$." It turned out that a kick in the a$$ is all I really needed to make sh*t happen.
During that time, the Desert of Desertion was real with my soon-to-be Sports Bra company. Prototypes were failing and costs (time & money) were starting to rack up with no end in sight.
A now friend and mentor from the Summit suggested that I buy a business.
I think he knew that I was the type of person who needed to be occupied and he pitched his suggestion as a course in learning how to import and sell online while I wait for more prototypes to fail... The last thing that I wanted to do at the time was shop business deals.
This was met with a high-level of resistance (after all, I had gotten burnt badly from the last deal that I tried to do), but here is the turning point where things go from zero to 400 mph.
My online search took me a single day and I only looked at three diffrent businesses when I decided to engage an owner on 04/22/18.
On 05/08/18 (16 DAYS LATER) I had closed on the business with inventory in my storage unit and digital assets in hand.
With a little hand holding from the mentor and excellent communication, I was able to do something in 16 days that took me more than a year to do (unsuccessfully) just a year prior.
Yes this purchase was much smaller, but the amount of work that goes into it is all the same. I think that bad deal taught me; what to look for, how to valuate businesses, and be more confident at the negotiating table.
So it wasn't all for nothing, was it???
***
Fast forward to today (nine months later), and here are the major successes that I've had. Do not take this as bragging. I say "success" with as much modesty as possible. This is merely to show you what can happen in a very very short amount of time.
- Imported three containers from China
- Launched three new products
- Started an independent distributor network
- Sold 15,000+ total units
- Got into retail stores across the country
- Got into the industry's largest trade show
- And recently made a six figure wholesale deal
- Increased the value the business by at least 10X
To Conclude:
If you've been spinning you're wheels for years without much success, try buying a business.
For a sum of money that most people can afford or take a year to save up and get, you can tap into your true potential and execute your a$$ off.
Let's face it, some people are better at taking existing things a making them better than they are at starting something brand new.
Are YOU one of those people??? Now it's your turn.
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