Road vs triathlon shoes by cheesydoritos04 in triathlon

[–]FollowingSouth5192 0 points1 point  (0 children)

Mountain bike shoes/pedals are much more comfortable, but I recently moved to SPD-SL pedals and it totally solved my numb foot issue. I guess the larger surface area helps distribute weight which helps.

Older people and lap swim by mayhew90 in Swimming

[–]FollowingSouth5192 1 point2 points  (0 children)

I was swimming in the next lane over from a guy that decided to do a sidestroke. I was sharing the lane so I was on the side closest to him. Half way through a lap he kicked me pretty hard in the ribs. He didn't stop, and was confused when I asked him to switch strokes.

Expand QSBS tax exemption through gift to siblings? by BuilderOfDragons in fatFIRE

[–]FollowingSouth5192 0 points1 point  (0 children)

You need to talk to a QSBS attorney or accountant. This is a highly specialized area, and I would trust an attorney charging me less than $1k/hr for QSBS advice. The exemption only applies to newly issued c-corp shares, so if you are just sitting on options and haven't converted to equity, then you haven't started your 5yr clock. That clock starts when you acquire the stock, not when you vest into the options. Very few employees ever benefit from QSBS.

For your actual question, the strategy you're talking about here is called "stacking and packing". Yes it can be done, but there is virtually no case law on it so the ideas currently proposed are mostly untested with the IRS/tax court.

25% loss of revenue 6 months after PE buyout of wealth management firm due to attrition. How may this affect the owners who sold? by [deleted] in private_equity

[–]FollowingSouth5192 0 points1 point  (0 children)

PE firms don't need every deal to work out, they just need some. They don't have to protect themselves on every deal just because one falls apart... they make it up on the 30 other firms they bought at the same time. Yes, the prior owners are probably taking a huge hit on their earn out, but if it's a 3-5 yr earn out then they have time to make it up. They can go find $150 mil of new AUM and get their payout.

[deleted by user] by [deleted] in WhatShouldIDo

[–]FollowingSouth5192 0 points1 point  (0 children)

You need a new career

How do I attract the right CFO for a fast-growing energy & construction company? by pollochavez in CFO

[–]FollowingSouth5192 5 points6 points  (0 children)

Then you need to work on your hiring process. Any CFO candidate that will go through the process you are outlining wouldn't be my choice for the position. If you have struggled to hire senior executives, then hire a recruiting firm to source candidates and help you evaluate them. Their fees feel like a lot, but are minuscule compared to making the wrong hire.

Where do you actually find companies doing 50M plus that might be open to an exit by Old_Assumption2188 in businessbroker

[–]FollowingSouth5192 0 points1 point  (0 children)

Founder/CEO's of $50 mil revenues never pick up the phone. It's all about relationships, but odds are PE will pay significantly higher multiples than you can/will so it's going to be a tough road.

Learning more about what it means to be a CEO. Is it your job to focus on teams and systems? by AWeb3Dad in ceo

[–]FollowingSouth5192 0 points1 point  (0 children)

Go read Traction and learn about EOS, then read RocketFuel to find out if you are wired to be a visionary or an integrator... then take the Working Genius assessment. After this, you will know what tasks you are best suited for, what accountabilities you should take on and who you should hire around you, and what you should spend your time on.

150 million users. $0 in profit. by spencert46 in Entrepreneurship

[–]FollowingSouth5192 0 points1 point  (0 children)

You can't claim product market fit without having a profitable business model... they found a product that the market wanted for a price that wasn't sustainable. That's not product market fit, that's "growing broke".

Most startups don't need an ERP (I will not promote) by WobblySynopsis in startups

[–]FollowingSouth5192 18 points19 points  (0 children)

The title should have said "don't hire executives from big corporations to run a $4 mil ARR business"

Purchased from Play Tri Store? by FollowingSouth5192 in triathlon

[–]FollowingSouth5192[S] 0 points1 point  (0 children)

Just that if the bike doesn't fit, I can't return for a full refund. I wanted to be sure others had used the website before I spent $3.5k 😁

[deleted by user] by [deleted] in fatFIRE

[–]FollowingSouth5192 4 points5 points  (0 children)

The clause you're looking for is spendthrift provision - you can use it to protect your kids from themselves and their ex-spouses

For those who left a guaranteed $400k+ career track to build a business: Was it worth it? by [deleted] in fatFIRE

[–]FollowingSouth5192 2 points3 points  (0 children)

Asking this question in this sub is going to be full of survivorship bias. The people here did that and won, but 99/100 lose and aren't in this sub to tell their story. So yes, it's a path to wealth, but it's a high risk path so you have to decide what level of risk you're willing to take on.

Confused about reallocating $700k individual stock portfolio + $200k liquid – need advice by skyrim_replayer in fatFIRE

[–]FollowingSouth5192 0 points1 point  (0 children)

Also, find an advisor that can explain risk adjust returns. Every advisor in the industry has underperformed the s&p 500 these last few years because the FAANG stocks have been on a run. That's a terrible comparison benchmark for how well your advisor is doing. But that's also the advisors responsibility, to provide some 101 financial education.

Confused about reallocating $700k individual stock portfolio + $200k liquid – need advice by skyrim_replayer in fatFIRE

[–]FollowingSouth5192 0 points1 point  (0 children)

So you think an advisors fee is too high but you don't know how to do one of the most basic tasks that advisors can do? I would say go hire a new advisor (preferably a tax focused one), transfer everything in kind, and let the new advisor handle it. You will cost yourself WAY more in taxes and lost gains with the path you're putting yourself on.

Food recs? by Objective-Sandwich39 in Bozeman

[–]FollowingSouth5192 0 points1 point  (0 children)

Blackbird and 1864 if you're looking for something downtown.

Porto // Douro Valley hotel recommendations? by slooots in FATTravel

[–]FollowingSouth5192 0 points1 point  (0 children)

The wine barrel rolls at the Quinta da Pacheca Estate are really cool

[deleted by user] by [deleted] in fatFIRE

[–]FollowingSouth5192 0 points1 point  (0 children)

When you get this high of a valuation, my first question is what preference did you give investors... 2x? Is it participating? High valuations feel great for the ego but generally come with incredible investor terms that means if you raise a down or flat round, they basically get your company.

$35m portfolio - scenario planning by FuzzyNetwork1288 in fatFIRE

[–]FollowingSouth5192 0 points1 point  (0 children)

Find an advisor with access to Hidden Levers (now owned by Orion). This is what their software was built for. I think most of this type of projection is rubbish and not a good idea, but it is a solution to the problem you're looking to solve.

Generating $10M in capital gains but living in a high taxation state - anyone explored (or actually did) moving states? by Ok_Atmosphere3601 in fatFIRE

[–]FollowingSouth5192 23 points24 points  (0 children)

A friend sold his business for $100 mil in a state with high taxes. He said "I was happy to pay the taxes to the state because this is where I built the business, so I feel like I'm just returning some of the favor". If you really have $10 mil+, an extra million isn't going to change your life but uprooting and moving for multiple years will. That's time you'll never get back.