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ChrisV

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Really? $1.2m a year is $700k after taxes... meh. I plan to spend more than that on jet fuel per year.
Lmfao, I love this guy.


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MTEE1985

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There you go again... Valuation? You need to make all of your early investors billionaires. You need an 11 or 12 figure valuation hell maybe even 13.
Hey, whatever keeps you contributing to the thread. Trying to do the forum a public service here.

Let me ask you this...when did your mindset shift occur to not only add more 0’s but to add a LOT of them?
 

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Kak

Kak

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Hey, whatever keeps you contributing to the thread. Trying to do the forum a public service here.

Let me ask you this...when did your mindset shift occur to not only add more 0’s but to add a LOT of them?
Why not add zeros? You should to put this lens on BEFORE you start.

It gets your head right for what kind of businesses matter for more than a century. What kind of business will give your great grandkids a life most people will only dream of?

As long as you are going to do something... Why not do it huge? I don't understand why someone would willingly cut their own balls off before they even start.

Let me reiterate this... there are people in this world that own $50m dollar homes in the Hamptons, $65m dollar jets, blow $10 million a year for fun, give away hundreds of millions, if not billions, and STILL plan to leave their 10 grandchildren 9 figures. These people exist. Why not do everything you can to be one of them? What is 100k a month now going to mean in 100 years? Probably nothing. It will probably be gone.
 
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MTEE1985

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Why not add zeros? You should to put this lens on BEFORE you start.

It gets your head right for what kind of businesses matter for more than a century. What kind of business will give your great grandkids a life most people will only dream of?

As long as you are going to do something... Why not do it huge? I don't understand why someone would willingly cut their own balls off before they even start.

Let me reiterate this... there are people in this world that own $50m dollar homes in the Hamptons, $65m dollar jets, blow $10 million a year for fun, give away hundreds of millions, if not billions, and STILL plan to leave their 10 grandchildren 9 figures. These people exist. Why not do everything you can to be one of them? What is 100k a month now going to mean in 100 years? Probably nothing. It will probably be gone.
Thank you for that. Maybe it was just me but seems like there has been a lot of forum action lately regarding defensive plays and trying not to lose vs. your offensive, love to win mentality that is paramount to being a successful entrepreneur.

Bigger mindsets see bigger opportunities. The president of the golf club I was at a few years ago exemplified this perfectly. We had a freak flood that did $2 million dollars of damage to his house. While getting the run around from his insurance company he went out in 3 months and found $2 million in new opportunities to cover his costs.

Thanks again @Kak hope there are more people out there shifting their thinking after reading this thread!
 
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Kak

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MTEE1985

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The Tribune is pretty lefty
No wonder you read it.

Seriously though, very interesting read and project. Brings up a lot of good points for future considerations and projects. If they are successful and look to expand nationwide they are likely to encounter thousands and thousands more who won’t want to sell off the portion of their land. But my God, imagine the opportunity for an expanded nationwide network if it costs $15-$18 billion to connect Houston and Dallas

I wouldn’t be surprised to see this project get nationwide attention in the near future, hopefully not in the lie of a “big corporation trying to bully people.”
 

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Why not add zeros? You should to put this lens on BEFORE you start.

It gets your head right for what kind of businesses matter for more than a century. What kind of business will give your great grandkids a life most people will only dream of?

As long as you are going to do something... Why not do it huge? I don't understand why someone would willingly cut their own balls off before they even start.

Let me reiterate this... there are people in this world that own $50m dollar homes in the Hamptons, $65m dollar jets, blow $10 million a year for fun, give away hundreds of millions, if not billions, and STILL plan to leave their 10 grandchildren 9 figures. These people exist. Why not do everything you can to be one of them? What is 100k a month now going to mean in 100 years? Probably nothing. It will probably be gone.
I love your mindset and your very long term targets, my only problem with this idea of thinking that big, is the ability to see that far, to be able to know if this business is able to reach that level.
 
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Kak

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No wonder you read it.

Seriously though, very interesting read and project. Brings up a lot of good points for future considerations and projects. If they are successful and look to expand nationwide they are likely to encounter thousands and thousands more who won’t want to sell off the portion of their land. But my God, imagine the opportunity for an expanded nationwide network if it costs $15-$18 billion to connect Houston and Dallas

I wouldn’t be surprised to see this project get nationwide attention in the near future, hopefully not in the lie of a “big corporation trying to bully people.”
They’re not a “big corporation” anyway lol. Maybe to a communist.

I recently had the pleasure of meeting some of the people involved in this project.

The land owners are getting paid like crazy. Most of them want it to come through their land so they can make a ton of money. Others are getting a payout every time the train goes by, like a noise fee. It does suck to be forced to let a train through your property though, if you don’t care about the money... but should you really view it as your property? Not really. It’s not as if we actually own our homes. The government can take them away from us if we don’t pay “property taxes.” It’s just an easement they are paying for anyway, they still “own” the land. The tracks are going to be up on a bridge. Business as usual underneath except for the pillars holding it up.

I personally think someone that offers a cheaper way to tunnel underground is going to open up a lot of new possibilities without the eminent domain issues.
 
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MTEE1985

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They’re not a “big corporation” anyway lol. Maybe to a communist. I recently had the pleasure of meeting some of the people involved in this project.

The land owners are getting paid like crazy. Most of them want it to come through their land so they can make a ton of money. Others are getting a payout every time the train goes by, like a noise fee. It does suck to be forced to let a train through your property though, if you don’t care about the money... but should you really view it as your property? Not really. It’s not as if we actually own our homes. The government can take them away from us if we don’t pay “property taxes.” It’s just an easement they are paying for anyway, they still “own” the land. The tracks are going to be up on a bridge. Business as usual underneath except for the pillars holding it up.

I personally think someone that offers a cheaper way to tunnel underground is going to open up a lot of new possibilities without the eminent domain issues.
In speaking with them or in your readings, did they touch upon long range plans? They’d like this track open by 2024, any mention of a Dallas to San Antonio next or up to OKC?

Eminent domain will get interesting with underground tunnels...how deep will somebody argue they own? I’m sure of all people here you remember this making headlines:

https://www.texasmonthly.com/the-culture/boone-pickens-wants-to-sell-you-his-water/
 
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Kak

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In speaking with them or in your readings, did they touch upon long range plans? They’d like this track open by 2024, any mention of a Dallas to San Antonio next or up to OKC?

Eminent domain will get interesting with underground tunnels...how deep will somebody argue they own? I’m sure of all people here you remember this making headlines:

https://www.texasmonthly.com/the-culture/boone-pickens-wants-to-sell-you-his-water/
No, I don’t think there are expansion plans on the radar yet. I’m sure they have their hands full. I’m a fan of Boone Pickens. His book was great.

Check this out Home - Surf Air Texas If I lived by one of these particular airports, I would have a subscription, but that’s an hour drive for me minimum to get on.
 

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BlindSide

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I'd love to get in on this thread, but feel like I'd be attempting to punch way above my weight. This thread has helped me to realize that I need to focus on problems, and then think BIG when it comes to solving. How can I give the absolute MOST value.

Also makes me more aware that I need to stop shying away from bigger issues I may come across, just because I feel like I'm not qualified.

Great thread!
 

MCBoots

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... but am about 30 days out from closing on a high 8-figures acquisition
So to update, that happened. :cool: I did end up putting some of my own money in as well for skin in the game, but a rounding error in the greater scheme of the deal. This was a growth/private equity style transaction. As planned, I'll join the company's board, which comes with additional incentives beyond my stake going in.

I offer the update to echo the theme of this critically important thread - continue aiming higher! The possibilities are bounded only by the size of your ambition paired with relentless action.

To illustrate, on the back of this first deal I just completed as a principal rather than a hired hand, I'm now talking with different groups of investor-entrepreneurs who want to and and have the means to pursue mid 9-figure acquisitions/roll-ups (this is alongside their own main businesses they continue to own and operate). My own personal balance sheet is *nowhere* near that capacity now or anytime soon, but getting access to those circles and their checkbooks is a function of upping my game, a byproduct of stepping out on the ledge -- and provides the fuel and opportunities to leapfrog to the next tier. Had I stayed in the slow lane angling for a 20-25% job hopper raise, these conversations would never have even started. And to be clear, I am just getting started!

I did have a 10+ year journey to put myself in position for these opportunities. I won't pretend it was all part of some grand, master plan. Each stepping stone along the way was an opportunity presented and seized. But to be clear, I'm still squarely in the early-mid innings of my working life, which most certainly didn't begin with a silver spoon. I started the "professional" stage of my career as a call center tech support / telesales nobody, hopping between temp agency assignments. Like anyone, I had my own unique advantages, strengths, and experiences going in, but in the end the range of options comes down to mindset and discipline.
 

MTEE1985

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No, I don’t think there are expansion plans on the radar yet. I’m sure they have their hands full. I’m a fan of Boone Pickens. His book was great.

Check this out Home - Surf Air Texas If I lived by one of these particular airports, I would have a subscription, but that’s an hour drive for me minimum to get on.
They must be crazy efficient for the prices they are charging. Best guess is that it’s a function of using the Pilatus. I know a ton of guys who went the NetJets/Wheels Up route vs. owning, but we also had the Chairman of Cessna at the club trying to chirp in everybody’s ear to buy a Citation.


I'd love to get in on this thread, but feel like I'd be attempting to punch way above my weight. This thread has helped me to realize that I need to focus on problems, and then think BIG when it comes to solving. How can I give the absolute MOST value.

Also makes me more aware that I need to stop shying away from bigger issues I may come across, just because I feel like I'm not qualified.

Great thread!
Get in on it man. Look not only for the opportunities, but also look for areas where you can spend time with high achievers and ultra high net worth people. It changes your mindset to see how they operate, think and act.

So to update, that happened. :cool: I did end up putting some of my own money in as well for skin in the game, but a rounding error in the greater scheme of the deal. This was a growth/private equity style transaction. As planned, I'll join the company's board, which comes with additional incentives beyond my stake going in.

I offer the update to echo the theme of this critically important thread - continue aiming higher! The possibilities are bounded only by the size of your ambition paired with relentless action.

To illustrate, on the back of this first deal I just completed as a principal rather than a hired hand, I'm now talking with different groups of investor-entrepreneurs who want to and and have the means to pursue mid 9-figure acquisitions/roll-ups (this is alongside their own main businesses they continue to own and operate). My own personal balance sheet is *nowhere* near that capacity now or anytime soon, but getting access to those circles and their checkbooks is a function of upping my game, a byproduct of stepping out on the ledge -- and provides the fuel and opportunities to leapfrog to the next tier. Had I stayed in the slow lane angling for a 20-25% job hopper raise, these conversations would never have even started. And to be clear, I am just getting started!

I did have a 10+ year journey to put myself in position for these opportunities. I won't pretend it was all part of some grand, master plan. Each stepping stone along the way was an opportunity presented and seized. But to be clear, I'm still squarely in the early-mid innings of my working life, which most certainly didn't begin with a silver spoon. I started the "professional" stage of my career as a call center tech support / telesales nobody, hopping between temp agency assignments. Like anyone, I had my own unique advantages, strengths, and experiences going in, but in the end the range of options comes down to mindset and discipline.
Nothing to say but Rep+.
 

BlindSide

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Get in on it man. Look not only for the opportunities, but also look for areas where you can spend time with high achievers and ultra high net worth people. It changes your mindset to see how they operate, think and act.
Thanks! I definitely know that changes in my mindset are much needed, but I don't want to just only focus on that, as I feel it could just be making excuses for not actually starting on building businesses.

In honor of this thread, I've been thinking about what truly big goals I'd love to have, but I always immediately doubt I'll ever achieve. Here are just a few:

- First off, I admit that I do enjoy being a center of attention. I loved being the kid in college who many classmates enjoyed talking to, and I feel like my social skills were much better in college than they are now. So, I'd like to build one or a few businesses that have national impact, just because my social circle would be much more expansive. I love having friends around, and I feel businesses of this magnitude would create that.

- Being an owner of an NFL team, preferably the Cincinnati Bengals, is a dream. I LOVE football, probably takes up too much of my time.

- Creating enough wealth to help my parents (currently early to mid 50s) live however they please for the rest of their life. They've done so much for me, and continue to do so. I live on the other side of the US from them now, and I honestly regret the move. I'd like to just give them enough so that they could move wherever they want, and do whatever they want. (Hate whenever I call my mom and I ask, "How are you two doing? Her response is ALWAYS: "Good. Just working.")

So, a few things that I have previously thought I'm completely unqualified to solve, I'm now interested in looking at and opening my mind to:

- NFL concussion issue. Big problem obviously, has created some really horrendous stories post NFL for some guys. Is there some type of material that could be made? Maybe even a full-body tech that could greatly reduce impact when hitting others and the turf?

- I also have considered where I see a lot of people, but not much to do around them. Such as lakes where there are a lot of boaters. Could you create something out there that boaters could benefit from?

- Pretty vague, but I also have been looking into the airline industry. Just to see if there are any overall weaknesses that possibly a new airline company could fix.
 

Ronak

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So to update, that happened. :cool: I did end up putting some of my own money in as well for skin in the game, but a rounding error in the greater scheme of the deal. This was a growth/private equity style transaction. As planned, I'll join the company's board, which comes with additional incentives beyond my stake going in.

I offer the update to echo the theme of this critically important thread - continue aiming higher! The possibilities are bounded only by the size of your ambition paired with relentless action.

To illustrate, on the back of this first deal I just completed as a principal rather than a hired hand, I'm now talking with different groups of investor-entrepreneurs who want to and and have the means to pursue mid 9-figure acquisitions/roll-ups (this is alongside their own main businesses they continue to own and operate). My own personal balance sheet is *nowhere* near that capacity now or anytime soon, but getting access to those circles and their checkbooks is a function of upping my game, a byproduct of stepping out on the ledge -- and provides the fuel and opportunities to leapfrog to the next tier. Had I stayed in the slow lane angling for a 20-25% job hopper raise, these conversations would never have even started. And to be clear, I am just getting started!

I did have a 10+ year journey to put myself in position for these opportunities. I won't pretend it was all part of some grand, master plan. Each stepping stone along the way was an opportunity presented and seized. But to be clear, I'm still squarely in the early-mid innings of my working life, which most certainly didn't begin with a silver spoon. I started the "professional" stage of my career as a call center tech support / telesales nobody, hopping between temp agency assignments. Like anyone, I had my own unique advantages, strengths, and experiences going in, but in the end the range of options comes down to mindset and discipline.

That's totally awesome, congrats!
What's your role going to be in the company? Are you taking over existing management, or are they staying in place?
 
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Dmoneyzzz

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I love the idea of thinking beyond your own financial means or capabilities! Its all about how you can think BIG and provide MASSIVE value to this world.
 
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@Kak your original post and the subsequent posts have been invaluable to me, I've been able to take an idea that had always seemed too lofty and put it in terms that it is achievable.

I don't need $50 million in the bank to start it.

As long as I break it into manageable chunks, and take massive action every day, it will get done.
 
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Kak

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@Kak I like the way you think.

What habits help with this type of thinking?

Who did you surround yourself with?

What do you read? News Sites? Business Sites?
Habits-

I’m not a big spender. From a consumer perspective I am a fan of self deprivation. I don’t want the things I desire to have power over me. I think it gets my head right as a producer. That said, I like cool stuff, I just tend to wait until it’s just as easy as buying a bagel.

I keep the dopamine triggers at bay.

Investments? I am very free with my money. I will be buying an airplane because of the tremendous value it will provide to my businesses. I have the newest smartphone and unlimiited everything including international, again for business. I am also, happy to invest in nice business attire to exude professionalism.

I don’t have social media. I don’t try to compete with others. I have suppressed the jealousy emotion for so long I honestly don’t think I get very jealous any more. Jealously is for the weak.

I use the phone or Skype for business about 10x more than email. I just find it more effective on every level.

People-

There are many people I know and don’t like, but the ones I do like absolutely have this one thing in common... an internal locus of control. It has gotten to the point where I feel like external locus people are speaking a different language to me. It’s excuse after excuse after excuse.

Go getter, competent people are the only kind of people I consider friends.

Read-

I read almost exclusively non-fiction. I like to learn. I am NOT however reading tons of self help. I like applicable business, business history, biographies, and seldom some self help on topics that are interesting to me.

I spend a portion of my reading time in the Bible.

The Wall Street Journal is my news source.
 
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Kak

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@Kak your original post and the subsequent posts have been invaluable to me, I've been able to take an idea that had always seemed too lofty and put it in terms that it is achievable.

I don't need $50 million in the bank to start it.

As long as I break it into manageable chunks, and take massive action every day, it will get done.
Great post! That is correct. Leadership can deliver on the money needed. You eat an elephant one bite at a time.
 

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MCBoots

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That's totally awesome, congrats!
What's your role going to be in the company? Are you taking over existing management, or are they staying in place?
Thank you! It’s awesome to finally do a deal on my own account/as a principal player rather than a hired gun drawing a salary.

As for post-close role, existing management/founders are staying (some changes in roles) and a couple of my partners are going on to the exec team. I’m joining the board of directors.
 

Ronak

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Thank you! It’s awesome to finally do a deal on my own account/as a principal player rather than a hired gun drawing a salary.

As for post-close role, existing management/founders are staying (some changes in roles) and a couple of my partners are going on to the exec team. I’m joining the board of directors.
It seems like you shifted from the most logical linear next step of doing a small acquisition to a quantum leap with your bigger acquisition. How did that exactly happen-- was it something you actively pursued, or did the stars align properly on the deal?

I've heard the same thing time and time again from successful people-- it is usually no more difficult going big than going small, so you might as well go big. That's a terrifying idea for me, and the temptation is to stick with something that's just slightly bigger than what you're currently doing-- i.e, linear progression. Your posts caught my eye because I'm in playing with the same idea of $2-4M acquisitions for a rollup, but you seem to have made the leap. My biggest obstacle is internal, the feeling of lacking credibility or the proper "track record", walking before running, etc, etc.
 
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AlessioLC

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I'm a GC fan. He is right. Work on things that actually CAN get you where you want to go. Not things that "might."
What is fascinating is that this guy has been grinding for 20 years and for him he's not even where he want to go, the billion is the answer.
 

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- NFL concussion issue. Big problem obviously, has created some really horrendous stories post NFL for some guys. Is there some type of material that could be made? Maybe even a full-body tech that could greatly reduce impact when hitting others and the turf?
Dont think it has anything to do with the material, concussions happen because of the brain bouncing around in the skull.

Solving a problem like that would have to do with having brain cells regenerate I assume.
 
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What is fascinating is that this guy has been grinding for 20 years and for him he's not even where he want to go, the billion is the answer.
I applaud him continuing to do what works. Setting up his family for generations. Good man.
 

AlessioLC

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I applaud him continuing to do what works. Setting up his family for generations. Good man.
He took the hardest path and here he is now.
This is legendary money, i don't have a clear sight of how it can be done right now but your vision of things helps to be honest.
 
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Good questions!

First lets examine some assumptions and how I define the following:

Employee- Guy exchanges time for money.

Self employed- Guy exchanges time for money with more flex-ability, risk and maybe more reward. Photographer, consultant, freelancer, broker, realtor...

Small business- Guy exchanges time for money and has a few systems and employees in place that he also uses to make money. Some are better time trades than others. Basically a business that will probably, at some point, hit a time-leverage dead end where you cant afford to grow the company internally and you also can't afford to quit. Business is an asset to some extent, but the owner usually works on location so it wouldn't sell for very much. Bakery, nail salon, boutique, FBA stores, mall kiosk, contractor.

A Real Company- Something that can grow from within. Has the potential to support resources every step of the way. There is either enough value in sales or company growth to either snowball or just raise money with small amounts of stock. People want to be part of it. Stock options and profit shares have real value. You can, or will be able to afford the things you would worry about in a small business. Accountants, legal help, insurance, finance help, sales, managers, ETC... You aren't expected to know how to do everything. You can lead or step out, replace yourself and let it exist on its own.

To me it depends completely on what kind of "big" potential the current business has vs the new one. I will tell you straight up, "a guy selling things on FBA" isn't even a company... Can the venture even afford one extra employee to grow itself? If not, its a small business that has already hit the dead end. It may have a decent trade of time for money, but I would use it to get to something bigger and better.

Some ventures make the jump from small to company (go-pro, yeti, mypillow, etc), but most are born to be big. I like the latter.

Also, no one said you could only have one business... You run the show!
I think I get it now!

Thanks.
 

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