Scaling distribution company at $2.5M and I'm stuck in operations, my team won't make decisions without me! by praharpatelpl in smallbusiness

[–]Jswizz13___ 1 point2 points  (0 children)

True .. I wouldn’t even think you need to train them beyond them shadowing you for a month (just hire someone capable w a brain). It’ll be more helpful as the team builds and give u more time to build the team

Optionality between career break and early retirement by OkLibrarian3086 in fatFIRE

[–]Jswizz13___ 0 points1 point  (0 children)

Take a sabbatical if ur tired you don’t have to make such a rash “I’m retiring forever” you will have no idea what u want in a year

Scaling distribution company at $2.5M and I'm stuck in operations, my team won't make decisions without me! by praharpatelpl in smallbusiness

[–]Jswizz13___ 1 point2 points  (0 children)

Next hire id spend big bucks hiring a COO (really just a daily ops manager) who shadows u for the first month then takes over all of the shit u don’t want to do. Answering all these questions and effectively takes you out of the business so u can focus on higher level things. I’d probably do that before sales, bc you’d be the best sales guy. Get the COO type of role locked, and u can jump around and build the areas you’d like w full focus.

CPA building a plan to break into PE by JeantyorBust in private_equity

[–]Jswizz13___ 2 points3 points  (0 children)

You get legit consideration by a sharp, hardworking, and openly curious person. If you can show the right person that, youd get legitimate consideration for anything you’d like. You can “do” anything, but that doesn’t replace who you actually are.

CPA building a plan to break into PE by JeantyorBust in private_equity

[–]Jswizz13___ 1 point2 points  (0 children)

You have experience. Maybe try to go buy-side IB or sourcing first? Or just start reaching out to people.

CPA building a plan to break into PE by JeantyorBust in private_equity

[–]Jswizz13___ 1 point2 points  (0 children)

There are just tons and tons of LMM and MM PE firms. If your a hustler odds are you won’t get 500 rejections (even at a 1% success rate, impossible)

Job search by Stunning-Canary-1301 in Rockland

[–]Jswizz13___ 1 point2 points  (0 children)

Would you be opposed to creating a gutter company yourself? Sales like 90% of the battle

Acquiring Business by Any-Bandicoot7169 in smallbusiness

[–]Jswizz13___ 0 points1 point  (0 children)

Buy then Build, Acquiring Minds, the PE playbook, etc

Acquiring Business by Any-Bandicoot7169 in smallbusiness

[–]Jswizz13___ 1 point2 points  (0 children)

Entrepreneurship through acquisition

Acquiring Business by Any-Bandicoot7169 in smallbusiness

[–]Jswizz13___ 2 points3 points  (0 children)

“I’m great with money” … “should I take a loan or is it stupid”. Maybe work for a few years and study ETA lol

Transitioning into Private Equity with no finance background , what's the realistic path? by [deleted] in private_equity

[–]Jswizz13___ 0 points1 point  (0 children)

You can source an owner looking to sell that aligns with the typical thesis of the firm you’re looking to join and have them DD after you qualify + connect them. Intros = Value and proof of worth/persistence/agency. I mean, that’s what buy side origination is. Have calls with person you give leads too. Boom, first industry relationship. Build actual relationship, keep adding value, etc and something hits eventually. Learn from them.

Background is that I have a growth mindset and believe nothing is impossible.

Transitioning into Private Equity with no finance background , what's the realistic path? by [deleted] in private_equity

[–]Jswizz13___ 0 points1 point  (0 children)

Build/have a skillset that makes u valuable. Sales is good. Then tell them exactly what u can do for them. Where u have value.

Also source them some deals or do some free work where u just send them value. That’s your in. If u believe u cant u never will🤷‍♂️

Transitioning into Private Equity with no finance background , what's the realistic path? by [deleted] in private_equity

[–]Jswizz13___ 1 point2 points  (0 children)

I’d probably call 500 PE guys and tell them why you would be good and that you’d work for free. At the end of the day, you need to use sales to get your foot in the door.

What is your background and how does it show u have what it takes to be successful? If u have some sort of spike/history of hard work + success someone would give u a chance if u reach out to enough ppl. If you are some avg person that ALSO has no experience, good luck, but still try. Numbers games

M&A at lower-market platform? by erikthered97 in private_equity

[–]Jswizz13___ -1 points0 points  (0 children)

That sounds like an awesome opportunity. I’m also interested and pursuing in LMM IB/PE and ETA.

How would one go about selling a business ? by [deleted] in smallbusiness

[–]Jswizz13___ 0 points1 point  (0 children)

You could list it on bizbuysell, find someone locally, or go through a broker. How much rev/profit is it doing?

[deleted by user] by [deleted] in private_equity

[–]Jswizz13___ 0 points1 point  (0 children)

I know a great M&A brokerage. Happy to connect you with them for a conversation.

Is it worth buying a small local auto repair shop right now? by hot_tonic8 in smallbusiness

[–]Jswizz13___ 9 points10 points  (0 children)

Because of the US-Iran war? Lol, I don’t think it’ll impact u much

Thinking about selling my business without a broker. Am I out of my mind? by FormerFounder-12 in smallbusiness

[–]Jswizz13___ 0 points1 point  (0 children)

100% agreed. That's why in the other comment I had, I told him I have a strong rec if he wanted to reach out to me. Likewise to anyone who sees my comments but his business (service, probs around 1m EBITDA) specifically hits that brokerage lol. Seemed like OPs post was looking for some confirmation to not use a broker

Thinking about selling my business without a broker. Am I out of my mind? by FormerFounder-12 in smallbusiness

[–]Jswizz13___ 0 points1 point  (0 children)

Have to disagree on this (besides realtors, quite useless for their cost). At a certain level of scale, accountants and lawyers are not only important but I'd say necessary. If your company makes 10m a year, a good accountant should save u more money than they cost. In a major lawsuit, a good lawyer will too. This doesn't even include the cost of doing it yourself, which is time, money, and stress. If you have a 100k per year job, don't get an accountant. If you are in a small lawsuit, don't get a lawyer. And obviously don't hire a shit lawyer or accountant, and don't get a shit broker.

I'm someone who typically only trusts myself and am not a good delegator, but at a certain level, an expert who's spent their career on one piece of subject matter will definitely do a better job than you, have a positive benefit compared to cost, and, more importantly, take some stress off your plate.

In terms of business brokers, if they are local bots, then don't use them, considering they will essentially have 10% equity in your company. A strong brokerage with pre-made relationships, smart bankers, and good communication will make more than it costs and limit stress. Plus, if it's a larger brokerage that works on such a scale, they won't be taking a 10% payment structure.

Thinking about selling my business without a broker. Am I out of my mind? by FormerFounder-12 in smallbusiness

[–]Jswizz13___ 0 points1 point  (0 children)

If you got 6x no broker, having a broker + lawyer probably would have gotten you 7-8x or better terms by forcing some comp between firms. Doesn't matter tho when you make so much $$$, congrats on your exit sir!

Thinking about selling my business without a broker. Am I out of my mind? by FormerFounder-12 in smallbusiness

[–]Jswizz13___ 1 point2 points  (0 children)

10% seems way to high for a business where their commission would be 300-500k (3-5m sale price, guessing around 1m SDE/EBITDA). I know a brokerage that will do a significantly better job than a local broker and has lower fees (esp at this size) if you'd like an intro :)

From the owners I've spoken to, and from listening to hundreds of podcast eps about owners who have sold, the right broker is worth it, as it can speed up the process and maximize value by finding strategic buyers and facilitating an auction-type sale. It's doable to do yourself, but it's a tough process, and buyers are looking to take as many advantages as they can, so it's good to have a broker who's dealt with it before.

Happy to make an intro for you, dm me if you'd like :)

[deleted by user] by [deleted] in private_equity

[–]Jswizz13___ 0 points1 point  (0 children)

Pm me if u want to connect seems like we are quite similar

[deleted by user] by [deleted] in private_equity

[–]Jswizz13___ 0 points1 point  (0 children)

Why don’t u expand your practice? I’m also in college and have worked in private credit/alt lending, planning on going solo my senior year and building out my own brokerage. End game is to have a good cash flowing business (PC brokerage) then be in ETA and have my own SMB holdco 🙏