Take Five #036: 136 comments to the question: “Has anyone bought a business without prior industry experience?” and more
Codely v2.0 public release is here
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What has changed in our latest release?
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All new features available for all public channel users
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Coding collaboration with over 200 users at once
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Real-time code save every 0.1 seconds
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Take Five #036: 136 comments to the question: “Has anyone bought a business without prior industry experience?” and more
1. Here’s how its going, one year after buying a company and putting in a great CEO:
Performance so far:
FY2021: $1.25m EBITDA
FY2022: $2m-$2.5m EBITDA
FY2023 estimate: $2.5m-$3.5m EBITDA
I'm happy with this:
1. I'll deliver on the CEO making $1m way ahead of schedule
2. I'll get all my money back soon.
3. Business generates lots of profit.
2. 136 comments to the question: “Has anyone bought a business without prior industry experience?”
Very few business acquisition posts on Reddit take off, so this one in /r/smallbusiness with 136 comments caught our eye. OP’s ask:
“Has anyone bought a business without prior industry experience?
What type of business did you buy? What were you doing before? What was your experience like? Were you ultimately successful (whatever that means to you)? Why were you successful or why did you fail? Would you do it again?
I've always wanted to own my own business, but the industry I'm in now, as a salesperson, is pretty impossible to start or buy a business. So, I would have to go outside the industry. Just seeing what people's experience was like doing that.”
Some choice comments (followed by dozens of nonsensical comments asking if it was Elon Musk posting the original question):
3. How marketing turned Oatly into a 10 billion dollar brand
A great marketing dive into how marketing, branding, and going back to the basics can transform an old/existing company into something incredible:
4. 18 go-to sources for anyone starting off their search
5. The letter that Warren Buffett sent to business owners in the 1990s
“Here is the letter from 1990 that Warren Buffett sent to business owners - before he was the household name he is now. I appreciate the candor and authenticity of his approach. Sharing this as inspiration for searchers who are conducting direct outreach and looking to differentiate themselves.”
Read the full letter
From “Buffett Letter to Business Owners” on Searchfunder
Upcoming Events in the SMB & Business Acquisition Space
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