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GOLD! Think big and then think bigger than that.

Discussion in 'General Entrepreneur Discussion' started by Kak, Apr 18, 2018.

  1. Kak
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    Kak Capitalist Swine Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    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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  2. MCBoots
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    MCBoots Contributor Read Millionaire Fastlane FASTLANE INSIDER

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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.
     
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  3. Ronak
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    Ronak Silver Contributor FASTLANE INSIDER Speedway Pass Summit Attendee

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    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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  4. AlessioLC
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    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    SMH and Kak like this.
  5. Kak
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    Kak Capitalist Swine Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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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."
     
  6. AlessioLC
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    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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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.
     
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  7. sparechange
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    sparechange Gold Contributor Speedway Pass

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    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.
     
  8. Kak
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    Kak Capitalist Swine Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I applaud him continuing to do what works. Setting up his family for generations. Good man.
     
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  9. AlessioLC
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    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    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.
     
    Last edited: Nov 9, 2018
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  10. Jello
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    Jello Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    I think I get it now!

    Thanks.
     
  11. Ksalazar
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    Ksalazar Contributor

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    Networking is powerful source and neccessary for business this is something Ive overlooked that I am now working on building. This company put together the right people and learned the fundamentals to their business niche and is now executioning on it. I love hearing stories like this truly does inspire me and makes me want to go outside talk to people and learn more about my field of business.
     
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  12. JamItFast
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    JamItFast Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    https://openlattice.com/

    This company is an example of big thinking. It’s a platform with the scale of every Government Organization in the world, from the local to the national.

    It allows different sectors of government to easily share data and then do Data Analysis across that data to solve key problems.

    Sharing of data itself is nothing new, but this is a custom solution built for core societal institutions. And they are experts in this one big area.
     
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  13. sparechange
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    sparechange Gold Contributor Speedway Pass

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    Thinking big, you know whats crazy?

    Someone in the world right now is spending 100m+ on a yacht right now and it doesn't even hurt the bank account
     
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  14. JamItFast
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    JamItFast Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    The Tricky—but Potentially Lucrative—Task of Streaming Videogames

    Many companies are competing to develop streaming video games. No one has figured it out yet. There’s a big technological problem to solve. The computing is done in the cloud and needs to be streamed to the end user quickly without losing data. There are multiple levels to this solution. From the Server Hardware to the network infrastructure to the end user hardware. I would go after the network infrastructure piece.

    Artificiall Intellegince
    Which Country Is Winning the AI Race—the U.S. or China?

    Current advancements in Artificial Intellegince is based on recognizing patterns in large sets of data. China being a less private society has larger data sets in certain areas. But AI based on Chinese data sets doesn’t translate to the US.

    The article mentions that large sets of medical data is harder to get in the US because of the safeguards in place.

    We could aggregate large amounts of medical data and then license it to AI companies that want to use it for algorithm development. It’s a tricky field to navigate with large barriers to entry. The largest hurdles would be navigating the regulation.
     
    Last edited: Nov 13, 2018 at 3:32 PM
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  15. Bekit
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    Bekit Bronze Contributor Speedway Pass

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    I'm brand new to the idea of thinking big. For me, breaking 6 figures will be big. But as Oliver Wendell Holmes said, "One's mind, once stretched by a new idea, never regains its original dimensions." So I'm actively stretching. Today I watched a video interview between Jay Abraham and Subir Chowdhury that was pretty brain-expanding.


    This video starts off kind of slow, but it contains nuggets like these...

    ...how a simple change in approach helped Caterpillar to finally break the $20 Billion threshold where they had stayed stagnant for years
    ...consulting advice that infuriated a Korean automobile manufacturer (and why he turned around 180 degrees six months later)
    ...Three universal human needs (basics, fulfillment, and excitement) and why every product needs to meet all three
    ...Blind cereal taste testing with Kellogg's top executives, and why an executive freaked out about it
    ...Building a process and the using the right tools when you're playing at the billion dollar level
    ...Why a caring mindset can make the difference between getting a 10x return and a 100x return (and four difficult actions to take to obtain that differentiating factor).

    This was like getting strategic business coaching from guys who would typically only ever coach executives who are in the billion-dollar-and-up category. Subir told one fascinating story after another for two hours. Just had to share... hopefully others will also benefit!
     
    MTEE1985 likes this.

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