Drei Unternehmen, welches soll es sein?

0:00Unternehmer/Gast I made some mistakes before I started following your content and like an idiot I started three businesses. So I have three businesses. I'm exiting >> three wives. What? Yeah, I know. >> It's impossible. So um Should be illegal. I know, it's a problem. So the main business which is my primary source of revenue, me and my partner very much not on the same page. I'm transitioning and exit right now. I have a large buyout coming and I'm trying to decide do I redo that same business? I'm good at it. It's my primary source of revenue or do I pour it into one of these other two businesses? And I can give you some more context. Okay. What's the business you're selling? So I'm in the financial services Okay, great business. Yeah, I was the top producing rep like number two out of like 3,000 reps like in the country.

0:40>> you right now, do that. If you're two out of 3,000, you're not even 1%. You're like point one whatever percent. And so these other things probably sound really sexy and interesting. You can tell me what they are and then I'll tell you that they sound sexy and interesting. Well, so I guess my problem was is like I've got a non-compete non-solicit that to relocate. So it's like I have to move 60 miles away. My home network has to be restarted. >> for? So I'll have about a million bucks probably when it's all said and done. So I have you know time to rebuild.

1:06>> to move to a new location? So I if I want to not take a like three-year hiatus, I have to move 60 miles and I'm very regional in my my business. Like all my local that's all local multi-family habitation all like So if I move >> Yeah, but it's a six-year process to start all over again I guess is where where my brain goes is like Don't you think you could do it faster the second time? You Oh, for sure.

1:33Alex >> [laughter] >> I could do it in third of the time. So yeah, so you're 24 months away from a brand new business doing the same thing you do right now except you know all the lessons you learned. So just go for it and What are the other two? Just so I can say >> So yeah, no I I've got Well, I've got a real estate portfolio and I I feel like I'm really good at real estate too, but the problem is capital, right? Like I can buy buy buy, but insurance did that and create all the deals through a network, had all the contractors and it like they fed into each other really well which is why I started it. But um the problem is like then you were like well hyper focused and I was like well I don't think you need to stop real estate. I mean like I own a bunch of apartment buildings. It but like it's just not my main game. Like I've got some money that I'm like this is my like if I got become a crippled vegetable like there's cash flow for everybody.

2:12Um but like what's my main game, right? And so I want to make sure that you're not like trying to make your your side hustle your main hustle. Okay. Cuz the returns on real estate are not as good as the returns in business, period. Private equity owners are by far much wealthier on average than than real estate. Real estate makes more millionaires, private equity makes more billionaires. Yeah. So low risk, high likelihood. Business once you gain the skills is always where all the upside is. All right, what's the third one? So well, the third one I did the same thing again where I was like I started a junk removal company to feed more leads into the real estate. Cuz I was like and it does. So then but then it's like how far can I move horizontally before I'm losing that vertical integration? Cuz it's like hey, it does provide leads and flips that feed into the real estate and finds deals. So it's like

2:54Alex >> old ladies and they've got money so you do the financial services and I know we're just Well, and part of my question I think is how lateral can I get inside that vertical before I'm losing focus where it's like >> losing focus. I know. So do I just sell it and dump it? I mean what do you do? So I will give you the unpopular advice that I would give to myself. Um which is like do you believe you can win? Yeah. Then [ __ ] it. Do the thing. Do the main thing. Forget the other stuff. Basically on some level doing these side hustles is almost like a hedge against your own risk.

3:26Alex But you incur more risk because it decreases the likelihood that one sure thing actually is the sure thing. And so when if I gun to your head I was like you have to make money, what would you do? >> I'd sell insurance. >> Of course. Then do the thing that you would do when you need to make money and you will make money way more. Okay. Appreciate it. I'm only saying that because I have done this. Yeah. I had a dental agency, had a chiropractor agency, had a gym. If someone if I went out of business tomorrow like my I had a some hundred thousand dollar bill, what would I do? I'd launch a [ __ ] gym.

3:53Alex For sure in my sleep I know that's what I would do because I can do it in my sleep. So then Leila had this brilliant idea. She's like why don't we just do that thing that we're really good at over and over again and just not do the stuff that we suck at. And I was like I don't know if that's going to work. >> [laughter] >> I was like what if these other ones take off? That's right. Thanks. >> Thanks. If you are a business owner and you are not growing as fast as you'd like, I'd like to give you a free gift. So my team and I put together the $100 million scaling road map which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it. And so we broke it into these 10 stages and we made this little kind of quiz thing where if you put in your business information it'll tell you where you're at and the most important part for you what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources and finance. And so no matter what you're struggling with, someone else has already struggled with it and solved it. And so I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page you can just book a call with my team and we will look into business, see if we can help and if we can we'll invite you out to Vegas and we'll do this in person live.