Who The Hell Would Live in Minnesota?

[Vigilante]

Greetings from Minnesota... where hell is about to freeze over (literally). Only a slowlaner that has deep seated environmental sickness would live here. There really is no legitimate reason for an entrepreneur, who could be based anywhere on the globe, to live in a God forsaken state like Minnesota. I am convinced that when I die and get to heaven, God is going to say "You know I didn't ever intend on anyone living there...right?" Thank goodness for our short term escape plans, which include some grass skirts, palm trees, pog juice and rum, and a business that will keep putting money in my account while I cook some burgers poolside.

I am a 41 year old, soon to be "retired" almost fast-laner. I am on the cusp of breaking free from the rat race --- with a business in it's infant and pre-breakout stages. I have enough entrepreneurial war scars on me to have died a thousand deaths already, and I am happy to report that I am better off for them.

My best colossal failure was building a business that became a national phenom for the world's largest retailer, only to find out overnight that I forgot to close the barn door (literally and figuratively) and had the business ripped out from underneath me. That was a bad morning. I am sort of famous, in a dumb a$$ kind of way. However... I learned a ton through that and the trial and error of a few other business that got me in great position... for the fast lane that I am now driving towards.

If you want to know just about every way there is to screw up a business, ask me. I've probably done it. I've paid people too much, built empires too fast, spent more than I had on what had NO CHANCE of garnering a fast lane ROI, gotten screwed out of my own business because I wanted to save some money on legal drafting, and created some pretty spectacular product failures. I even wrote and had published a worst selling book. And, I live to tell about them all.

I absorbed the Millionaire Fastlane in about 72 hours...the book crystallized the path that I am already on, but more articulately than I ever could have captured the essence of WHY I am doing what I am doing. And... this time around is going to end differently. I am winning as I speed towards the fast lane. I have no intention of stopping for any headwinds.

I am here to listen more than to speak, and I want to absorb from you all things that I will then secretly deploy behind the scenes to make my exit strategy that much more spectacular.

Thanks for a great book, an interesting forum, and the opportunity to meet some people that speak my language.

- David

 

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[Michael W.]

built empires too fast

I don't understand this....


And welcome!

 

[MJ DeMarco]

David,

Welcome aboard - sounds like we can learn a lot from you! Looking forward to hearing more about your "war stories" ... those are always the best!

 

[Shad0w]

Glad to welcome a veteran here to the forum.

 

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[Vigilante]

m31ab - I jumped into businesses and hired people and assumed expenses... before I knew if I had a viable, profitable business model or not. In this version of failure v2.0, I :

1. Had significant front end investment (at a time that I was operating on a shoestring budget)
2. Had empires of workers, operational systems, and fixed expenses
3. Had terrific pomp and circumstance for a grand opening, including media, performers, bouncy house things for the kids, free food, etc...

and proceeded to sell almost nothing.

Wish I had read MJ's book first. I was like a local sandwich franchise, only my product was even more limited in scope. I didn't understand my customer, my potential market reach, or my industry. I simply opened a new retail concept and thought people would flock to my brilliant idea. They flocked in for the free food at the grand opening, and that was about it.

You know the phrase "if you build it, they will come?" Yeah, that's bullshit. Better idea is to learn/discover what "they" want and build something that meets a need. I tried to create a need where there (apparently) wasn't one. However, they did like the free donuts and carabou coffee (while it lasted!)

Built an empire --- too fast. Didn't understand what I was getting into, and plunged into it anyway. Result? Crashed and burned. That's what I meant.

 

[G-man422]

Vigilante,

And I bet you'd do it all over again because you learned and grew so much, right? It's awesome to have you here and I hope to learn a lot from your experiences.

 

[Vigilante]

Thanks G-man. If you ask me that question in approximately 30 months, the answer at that time will be "for sure." Scars heal. Pretty sure I would not be doing what I am doing right now if not for the crazy winding path that brought me here.

 

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[GlobalWealth]

Great intro Vigilante, speed++.

I'd like to hear more about the WMT stories though. I have some horror stories that sound rather similar regarding this behemoth.

 

[Russ H]

Welcome to the fastlane, Vigilante.

Rep speed for your intro. Always open to the war stories. How we learn from each other.

-Russ H.

 

[Michael W.]

By building an empire too fast I thought you meant you grew it to fast and couldn't manage it. Some guys have that problem... not I lol!

Good luck on your journey and we'll want more war stories but more importantly, your successful exploits!

 

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[Robre]

To go to Minnesota I have to go SOUTH! Yeah I know your pain but I love he people here so that's why I stay, oh and the hockey, got our Jets back!!

Welcome to the forum, glad to see someone else likes to brave the cold.

 

[Anon3587x]

Welcome.

So how are you 'sort of' famous?

 

[smmirza]

Haha. Your post made me almost fall out of my chair laughing. I used to live in Wisconsin and man did that place suck. I remember one time I went to the DMV to get my license renewed and they wanted me to bring in the apartment lease, phone bill, electricity bill and a letter from my employer. To which I said "Who the hell wants to live in Wisconsin?". All kidding aside, welcome to the forum. I am cheap too and will take your words of wisdom on not skimping on legal matters!

 

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[Vigilante]

Bateati... famous was maybe a stretch. I grew up in retail (my bachelor's is from Best Buy corporate university and my Masters degree is from Wal-Mart in Bentonville, AR). In the Minneapolis area, I won a business/entrepreneur version of "survivor" where I knocked out 32 other entrepreneurs and won a business funding package after several weeks "on-air." I am probably famous mostly in my own mind.

I used to think that the more visible I was, the more money it might attract. Now, having been through a couple of highly visible business dramas, I prefer to build in stealth. I'm not interested in owning, building, or working for a public company... having seen many friend entrepreneurs struggle through SEC regulations and shareholder struggles.

One of my most visible businesses involved one of my best friends, and it nearly killed the friendship at one point when times got rocky. Now, I prefer to go it on my own. I think to a certain degree, it's true what they say that business and friendships (and relatives) don't mix. I don't want to use someone else's money to grow at a more rapid pace --- as shareholders or lenders all have strings attached.

Richard Schulze, the founder of Best Buy, is a really quiet, private guy. A really private, quiet guy with a few billion dollars in the bank. I think his model (quiet billionaire) is a good one. I don't need fame. I need cash.

 

[Vigilante]

Shit. I just looked at my profile, and realized I am 42. Time is passing much too quickly.

 

[garyfritz]

Tell me about it. I barely *remember* 42 .... :smxD:

 

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[s_sherrell]

Hey Vigilante. I grew up in California, but went to school in Minneapolis. I loved it! I lived downtown and had some great times in that city. I am now in Chicago are, but get back there a few times a year on business (was just at General Mills last week). So yes there are people who like your state! Hope to learn more from you here on the forums.

 

[CommonCents]

I live in MN(south burbs) as well. Just took the cruiser off Tonka yesterday. Plan is to have a 2nd home in a warm climate!

Good luck in your venture!

 

[Kung Fu Steve]

I am definitely not looking forward to this winter...

But I'm an eternal optimist so how about we look at the good side of Minnesota in winter?

...
...
...

Well the women will wear short skirts no matter how cold it is - that's a plus!

Vigilante we may have to grab lunch one of these days!

P.S. As silly as it sounds, I think we have the best grass in the country. Every other state's grass is weird feeling when you walk on it. Florida for example - it's so sharp and pointy... and filled with alligators...

 

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[Vigilante]

Steve. Last winter almost did me in. We live(d) west of Chaska, MN on an acreage and were literally snowed in for a few days until my local farmer came over with his front end loader and dug us out one scoop at a time.

I lived in Arkansas for a while, and their grass is weird.

We currently have a place in the SW suburbs of Minneapolis --- it was designed with NO GRASS. No maintenance. Designed for a fastlaner, who traveled often and wanted to have fun when he was home. Hot tub, indoor sauna, etc... but no grass. Makes maintenance... non existent. Huge gardens but with perennials.

I will lurk around here for a while and make sure you're not a bunch of axe murderers, but then definitely would be up for a Minnesota get together.

 

[Vigilante]

@Common. Have you seen that boat club that is on Tonka? Like $3k a year but you just show up and boat. I kind of like the idea, as I don't have time for all the hassle. I had a boat on Minnetonka for a few years... until I decided I could save $250 in winterization costs and do it myself. I left some water in it and cracked the block. That $250 in savings cost me $18,000.

I guess with the boat club you can also run over to the St. Croix and use boats there, which might be cool as my in-laws are in Hudson, WI.... which is probably where we will move next year as an interum step towards moving south.

It makes absolutely zero business sense to have a business operating in Minnesota. I need to get primary residence in TX, FL, or ND where the tax situation is far more favorable as I come into the prime few years before I have a "liquidation" event. There's pretty much no case to be made for anchoring in a high tax state during your prime earning years.

I "need" three houses. I need to always keep something in the Twin Cities area, because my kids will be here. I need a primary residence in a tax advantageous state where I can live and operate (probably Florida) and I need a place in Maui because... it's Maui.

I aim to have all three within 30 months.

 

[Kung Fu Steve]

Haha I'm up in Rogers at the moment, I've lived all over. I do a lot of running around the cities on a day-to-day basis.

As far as axe murderer... well I teach martial arts so I guess I do teach people how... but more with swords and nunchuku and such...

 

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[Vigilante]

Steve... I took some Krav Maga classes recently and loved it. I liked the aggressive, unconventional "street fighting" aspects of it. They're all about vigilance. I learned to fight dirty from them, and I like that they teach about making responses reflexive so you don't have to "think" about it when the time comes. I know probably just about enough to extract myself from danger and that's about it. I think, like anything else, it's a discipline that needs regular participation to keep your mind sharp enough to be effective.

 

[DavidofMN]

Vigilante,

I am in Stillwater and last winter almost did me in too. I totally messed up my elbow shoveling all that freaking snow. Time to get a snow blower. The state is ridiculous about starting a B&M business. It seems like it is only good if you are a big timer like the Cargils, Pohlads, Daytons and such.

Lurk around some more (like I like to do) and you'll find a lot of good info.

David

 

[Kung Fu Steve]

the snow isn't so bad if it isn't so damn cold. I love it in the summer but the vacation home needs to come into play during winter!

 

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[phade]

and I need a place in Maui because... it's Maui.

I aim to have all three within 30 months.

PM me when you're ready for that place in Maui; I'm not in real estate but know the island well

 

[CommonCents]

@Common. Have you seen that boat club that is on Tonka? Like $3k a year but you just show up and boat. I kind of like the idea, as I don't have time for all the hassle. I had a boat on Minnetonka for a few years... until I decided I could save $250 in winterization costs and do it myself. I left some water in it and cracked the block. That $250 in savings cost me $18,000.

I guess with the boat club you can also run over to the St. Croix and use boats there, which might be cool as my in-laws are in Hudson, WI.... which is probably where we will move next year as an interum step towards moving south

Yeah, there are a few boat clubs in the metro. Pretty cool if you can plan ahead and aren't going to boat as much. I was on minnetonka close to 3x a week over the summer. They say the two best days for a boat owner, the day you get it, and the day you sell it. BOAT? stands for Bust Out Another Thousand I got mine brand new on a great deal from a bank that foreclosed on a dealership so have a little room for depreciation and repairs.

 

[Vigilante]

Heading towards 50 degrees in MN this weekend. Now... if it can just keep that up until April...

 

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[Kung Fu Steve]

I just saw snow out my window... need another glass of wine.

 

[Vigilante]

Fortunately it melted... now back to the 60's for the weekend!