Seth Mosk retweeted
Two best podcasts in America both use Forge
@thereforgepod with @MatthewChang and @ThaaatColin
@ForgedUSAPod with @RavinGandhi1 and @goldstein2002
🇺🇸
Official invitation to Boom to join us on The ReForge Pod, where we talk about the actual American reindustrialization.
@thereforgepod
Seth Mosk retweeted
MCAs are cash flow jail. Don’t go to jail.
But if you do, you can get out. Do not get discouraged, do what is needed to get through it.
More small U.S. businesses are ailing. Firms offering merchant cash advances promise quick relief. The catch: effective finance costs as high as 2,000%. on.wsj.com/4BGpZTi
MCAs are cash flow jail. Don’t go to jail.
But if you do, you can get out. Do not get discouraged, do what is needed to get through it.
This is possible. The mindset of looking at short term rental and laundromats to get there are 🚩
My buddy has $500,000 he wants to spend on a business to get out of his W2 that he hates.
His main requirements are:
- It must be something that can make $300k+/year
- It needs to replace his W2 within 2-3 years
- It can be operated by a third party (he doesn't want to do the day-to-day)
- It should be something where he can take 6-8+ weeks of vacation per year (he likes to travel)
What ideas would you have for him?
He's been looking at logistics companies, short-term rentals, and laundromats.
I'm afraid to give him any real advice in case it goes bad.
This is an interesting case study in Buy vs Build.
Would buying a small towing company - for its trucks, know how and most importantly Customer List , have been a better move?
On paper, my towing business looked amazing…
Every truck was going to bring in $1,000 a day in repair work for my shops
In real life, it cost more to get jobs than I thought
Fewer of those customers ended up in my shops
And the trucks kept breaking
Insurance was $16,000 to $20,000 per truck per year
After 8 months, I had enough and shut it down
I realized that while chasing a new business was fun, it was financially a terrible decision
Not because of the money I lost but because of opportunity cost to the auto repair shops
Every time you say YES to something new, simultaneous you say NO to something you’re currently doing to make room
This cost multiples the bigger you get
Towing took away time from improving the shops
If my team used that “towing time” to find a way to improve by just $500 per day per shop the results are stunning,..
That adds $5.5M in revenue per year with zero additional overhead or anything new
The simpler you keep the business, the easier to multiply
ALT Brian Beers by a tow truck
Buying a business can pose a lot of challenges but there are clear playbooks for success. Study @therobertbrooks
Two best podcasts in America both use Forge
@thereforgepod with @MatthewChang and @ThaaatColin
@ForgedUSAPod with @RavinGandhi1 and @goldstein2002
🇺🇸
Official invitation to Boom to join us on The ReForge Pod, where we talk about the actual American reindustrialization.
@thereforgepod
Seth Mosk retweeted
Big law partner learning the reality of owning a SMB
Big law partner learning the reality of owning a SMB
Bobby out here just trying to get people extra cash flow.
Why is he getting so much hate?
It’s because he called the businesses boring, isn’t it?
Seth Mosk retweeted
Not pictured: SMB owner who just agreed to sell for $50M
Post Tampa mixer
Not pictured @sethmosk
Left to right
@KurtisCarman
@MatthewChang
@cgstiver
The most connect man on x
Big thanks to @paulswaney3 and @ryanraysr
Great crowd and great event. Ryan really did bring out the stars and also got rewarded with a $50M deal falling into his lap. LITERALLY
@MatthewChang @KurtisCarman
Announcement of the debate topic against @ryanraysr for tomorrow!
“Are Gurus Good for America?”
(Live stream taped by @writeclimbrun who is holding the camera.) nitter.cf/i/broadcasts/1nxeLMALL…
Not pictured: SMB owner who just agreed to sell for $50M
Post Tampa mixer
Not pictured @sethmosk
Left to right
@KurtisCarman
@MatthewChang
@cgstiver
The most connect man on x
Seth Mosk retweeted
Had the opportunity to meet with an excellent operator this morning and he shared his secret sauce.
Work harder on the things that matter.
Simple. See you in Tampa @ryanraysr
Had the opportunity to meet with an excellent operator this morning and he shared his secret sauce.
Work harder on the things that matter.
Simple. See you in Tampa @ryanraysr
This makes an important point for solo owners, have a plan in case of the worst.
CPAs, Lawyers sometimes seem obvious but advisers like Rand or brokers like @ClintFiore or @wraithbrokerage can really be more beneficial to continue operations and maintain value over the service providers. Plan ahead.
Had a super weird, crazy win this morning.
I was added to one of our member’s “In Case of Emergency” documents. Like (god forbid) if he dies or is in a coma.
It reads:
[Redacted Name] has known Rand about four years. He runs [Redacted Name’s] small business owner peer group and the larger Scalepath peer group organization, and knows nearly everyone in the small business acquisition world.
[Redacted Name] highly recommends reaching out to him, he can find the right person to help with almost any topic or problem that comes up.”
4 years ago I was not this person, just a guy getting business owners together.
Today and especially this last year, I’m able to be personally helpful to a large group of people.
Sorry if this sounds like bragging, this is just a really cool sign of personal achievement and “doing good things” over a long period of time without a clear payoff and through periods of doubt.
Which btw, is what most business owners go through.
BRB, I’m going to frame this quote and put it on a wall.
