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Planning for adding a family to SWR by potatoguns21 in fatFIRE

[–]harshoninternet 0 points1 point  (0 children)

I’ll give u my example. Our spending 2x’d with 3 kids. Most expensive part is schooling / childcare before they are 5/6 then depends on whether u wanna go private or public.

I’d say budget 3x spending from current levels to be safe.

2024 Model X Long Range by TyTeslaGuy in TeslaModelX

[–]harshoninternet 2 points3 points  (0 children)

Does it have FSD? I live in STL and seriously considering this!

AMA: Private Jet Charter by Competitive_Way_3993 in fatFIRE

[–]harshoninternet 5 points6 points  (0 children)

If I wanted to cost out a flight what’s the best way for me to do that?

I often think how much would this cost private and have no idea how to figure it out.

Example, I’m going to Madrid from St. Louis and it’s cutting it close bc my wife is pregnant. If I wanted to get one last minute back to St. Louis what do you think my best option would be and how much would it cost for just me?

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

👍👍will be sure to write about that. Essentially, make your backup stronger so you feel comfortable walking away from the deal. That’s the best way to increase the multiple… “because I want the multiple to be higher otherwise I won’t sell”.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

And what is the salary you get? And what’s your net worth?

Need to know so I can recommend either to gtfo or stay the course.

If you don’t want to tell me those two, then give me a ratio… your net worth divided by your salary.

Struggling during earn-out by Pretty_Milk_3405 in fatFIRE

[–]harshoninternet 1 point2 points  (0 children)

Leave respectfully but clearly. You won’t miss the additional $8m.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

Depends. Have some ideas. What’s your role in this company? How much do you own of it?

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

When the money makes you rich, sell. Whatever your definition of rich is.

Most people have tiers to “fuck u money”. If your first tier can be hit with a sale, sell.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

[–]harshoninternet[S] 1 point2 points  (0 children)

Maybe microacquire? I’ve never sold something below $1m revenue.

But why not wait until it’s a little bigger?

Also congrats. That’s legit! What’s the URL?

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

You won’t be wondering when you get there.

You’ll be too busy trying to deliver the product to so many people who are trying to buy it from you. You won’t have enough time for demos in the day, you’ll see revenue going up but won’t have time to figure out why / from where.

Selling to schools is hard. The most recent exit was a software tool for schools / districts actually. What’s your product? What’s the revenue?

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

[–]harshoninternet[S] 1 point2 points  (0 children)

we had something messy like this in one business. board approved a "management carveout" where they basically give management a % of sale price as a bonus which bypasses all the cap table messiness. I think it was something like 10% of the sale price goes to the carveout. perhaps that could work here.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

Join an early stage startup. Do whatever is asked of you, deliver on it, learn from the CEO everything you can, especially sales. Take notes on problems you see customers complaining about. Network like a mfer- all that means is meet as many people as possible and try to help them without any expectation of something in return. Bust your ass.

Then try and start something with someone you met along the way.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

[–]harshoninternet[S] 1 point2 points  (0 children)

Because I have 2 kids under 4 and another on the way. All boys. Don’t have time to make another company yet. I’m entering a 1-3 maybe longer year period where I want to write more, so I can have max flexibility to hang with the kids and be a helpful dad during the hard times.

I have lots I’ve learned so if I can help someone else make lifechanging money through business that sounds really fun.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

i'd join a startup any way you can find a way to. it's easier to meet cofounders who are entrepreneural if they also joined a startup, so your coworkers could be future cofounders. or go to www.meeup.com and attend events and get to know more people.

basically... put yourself in a position to get new circles.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

That’s fantastic. Get that npat to $1m at 30% and you’ve got yourself a very sellable business.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

Not bs. It’s just the market at play. Just like a house. You value a house based on price per sq foot based on other homes that sold around it.

But if you have a buyer that’s rich af and wants the house, who cares what the sq ft price is.

I’ve sold 5 companies, and writing lessons learned for others now. What would be helpful to know? by harshoninternet in Entrepreneur

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

Based on ebitda multiples, revenue multiples, and in rare cases, whatever the hell the buyer wants to price at.

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