I run a $1,000,000+ company 100% remotely while traveling full-time.
The ONLY way this is possible is by having great systems.
But I’ve never seen anyone explain how to actually create systems when you’re starting from 0...
So let me show you how (in granular detail):
⬇️⬇️
Jeff Bezos is worth 126.5 billion dollars.
He shared how he did it for 18 years in the Amazon Letters.
I read all 40,000 words, so you don't need to.
Here are 13 lessons every person should know:
Buying a business is the easy part (37 closed, 2 this year, through 7 platforms). Integrating and growing a business is much tougher.
Knowing what KPIs to track, how to track it, and when to track it is tough.
We use the Crawl, Walk, Run Framework
10 Takeaways from it 🧵👇
Over 25 years and 1,000s employees, I've learned:
Good bosses do some uncommon things.
Here are the 11 of them you should copy:
(1/x)
ChatGPT is a FREE assistant.
But most people don’t know the best ways to use it.
Here are 8 ways ChatGPT can save you thousands of hours in 2023:
Pro tip: When researching a company, try this in Google:
[COMPANY NAME] filetype:pdf site:.gov
You will be suprised what kind of docs you will find !
McKinsey, Bain, BCG, routinely charge $1m a WEEK for consulting support
They are also some of the largest proponents of outsourcing work
I should know: one of the first things they taught me at training was how to do it
By popular request, here's that training
I’ve seen many businesses fail over 10+ years as a CFO.
They had one thing in common: they all sucked at cash management.
Use these 5 KPIs to become a cash flow master and save your business:
Want to make your LOI extremely meaningful?
Here’s how:
This is the story of a resilient searcher 3 years out of college with an IB background who wouldn’t take no for an answer and used an SBA 7a loan to acquire a business for $5 million despite some big hurdles.
A thread about resilience in searching. 1/16
We’re building a baby Berkshire Hathaway.
The crazy part? We plan to pay 0% capital gains, compound w/ low taxes, and give our investors the same luxury.
Here’s the playbook (that you can use too):
There are a thousand ways to structure a holding company.
Our HoldCo has a portfolio of 5 home service businesses with 120+ team members.
Here’s how we structure our holdco:
Buying businesses is the quickest way to cash flow $500k+ per year.
Here’s a 5 step process for buying your first business:
What do I ask about BEFORE the LOI???
Are you starting to get to a point in the ETA SMB process where you are speaking with business owners, but don't know what you don't know?
Here is my PRE-LOI question list.
(geared towards small service biz)
I compiled every listing on Bizbuysell with over $1m in reported Cashflow.
🚨 Here are key insights to consider when buying a business. 🚨
They say price is what you pay, value is what you get.
What is a reasonable price? 4x, 5x, 6x EBITDA?
Obv depends on industry, company, etc.
But if trying to max SBA debt, there's a simple answer that may help in your screening process.
~4.5x EBITDA
How did I get there?
⬇️⬇️
I'm acquiring an SMB next week with 25+ employees. Most of the staff are remote.
I'll meet everyone via Zoom and will get one-on-one in person asap with all.
My high level 30 day post acquisition plan is...
One underrated trick for understanding a target industry?
Look at the risk factors in the SEC reports for public companies in the same industry.
I can elaborate on this if anyone is interested.
Apple, Nike, Coca Cola.
3 legendary companies. 1 common marketing trait:
Great copywriting.
Here are 10 copywriting tips to help you master marketing:
Want to exit the rat race in 2022?
Buy a Business for $50k.
Turn it into a $1M a year profit machine.
Let me show you how 👇
$7 trillion of Baby Boomer businesses will be sold by 2030.
A quick and dirty guide to buying one:
You've heard of them, you may even have one, but do you really understand what an S Corp is?
In this thread I break down exactly what "S Corp" means and why they're popular in SMB.
In a future thread I'll address their drawbacks in M&A.
For now, grab a mimosa and let's dig in!
The Chief of Staff role is quickly becoming the trendiest executive position in the business world.
🧵 Here's 5 things to know:
Your competition spends $10,000+ for their industry leading secrets.
But you can learn their secret sauce for < $200.
Here's how I do it in my businesses:
Let's say you just bought a commercial HVAC company in Raleigh, NC. It's a classic, "the owner never did any marketing"…
As Checkmate becomes one of the most followed fintech products of all time, here's the 9 things we've learned about marketing:
1 - Marketing is demographic-specific. If you want to market to a new demo, make a new page for that demo.
We take this to the max - we have separate…
I reviewed my notes from the business mentoring I did over the last year.
I noticed I gave the same advice repeatedly.
Here are the top 11: 🧵
10 KPIs every SMB should track:
Cash flow
Churn rate
Drop off rate
Inventory turnover
Gross profit margin
Revenue growth rate
Acc payable turnover
Relative market share
Repeat purchase ratio
Acc receivable turnover
While it's context-dependent, this is the 80/20 of KPI tracking