😃

Haha. I think you’re right about that Tracy. Even the Kobayashi Maru Dilemma incident created turmoil in Starfleet when Kirk reprogrammed the scenario to allow a win. I LOVE this as the analogy to the scenario we are often given when building wealth (or most anything else where the odds are stacked against us). I have learned after years of exercises like the one I gave you with the Maze, initially being frustrated, but then finally realizing that you need to be very liberal in your interpretations of the instructions because often those giving the instructions use language based on their own limited understanding of the possible solutions or are constrained by their limiting beliefs. Ultimately, with respect to the maze, you can interpret the word “through” several ways. Definitions of “through” include “continuing in time toward completion of (a process or period)” or “continuing or valid to the final destination” but even so, if we are looking for creative solutions, it helps us to think about the ultimate objective we want to reach and then think about all the possibilities that can get us from where we are now to where we want to go to and then explore them all to see what works best. Hope that helps. Despite lots of frustration that I have experienced and continue to experience in exercises like this, it really does help me to learn to more creatively explore possibilities which in the end gets me where I want to go faster. :)

Yeah, he definitely had his challenges as a good human or good business person.

Nicely done!

Thank you 🙏

Not really. The easy part is the acquisition. Then you have to operate the business or find someone to operate it. It’s work, but the results can be pretty outstanding. This is something that people have been doing for centuries and there are lots and lots of proven success stories. So, another way to look at it might be. “Hey, this sounds too good to be true, but what if it is!” Then you are open to it, you can try it out for yourself while remaining cautiously optimistic or even slightly skeptical and then see for yourself how it works for you. Is it not better to be open and try than to be closed off from the possibility?

I get it. Just as in real estate, in business there are motivated sellers. These are people who are getting divorced, want to change careers, no longer want to be an entrepreneur, get burnt out, have shiny object syndrome, have partner challenges, health challenge, die, etc. and those motivated sellers have no choice but to be flexible in terms of sale. They NEED to sell so seller financing, earn outs and other creative strategies are helpful to them. This is especially true when you consider people who tried to sell at market through a business broker and did not succeed (that’s about 80%+ of would-be sellers).

@@RolandFrasierEPIC I’m currently In the process of negotiating an equity deal for a company that was hit heavy during covid.

That’s great @GangBizTv, they should be motivated and if they are looking to get out of the business, they should be a good candidate for creative financing, including seller financing and earnout.

@@warroom9086 they don’t won’t to leave the business they want to save the business. I’ll be increasing their profits and redirecting current outgoings into areas which are needed for growth and development and implementing new systems. I’ve got an agreement based if I hit target and set a commission on all sales during the development process.

​​@@GangBizTvHI THERE GANGBIZ I'M CURRENTLY PROFESSION IN SALE.. BUT I'M NEW IN THIS PROFESSION SOOO.... JUST WANT SOMEONE CAN GUIDE ME OR GIVE ME SOME DIRECTION..... IT WOULD BE VERY HELPFUL IF YOU CAN GIVE ONE OR TIPS ABOUT HOW EQUITY AND THESE STUFF WORKS !! AND I CAN UNDERSTAND AND UTILISE THOSE TIPS EFFECTEVLY IN MY COURIER

Absolutely!

Much easier to go from $1k to $1M than 1M to 1B and so on.

Problem is, when people say they "make" such and such, that's just their sales. Once they take the costs out, very few businesses are rarely left with 20% margins. His $1,000 to $1m is more like $1,000 to $100,000. And let's not forget that the $1,000 he paid is just the money he put up front, he still has $99,999 in debt, so bottom line, he broke even after year 1 and that's it.

Thank you Michael!

Jordan, the point is not to feel bad about it or about the exercise. Life does not give you instructions or frequently gives the wrong instructions or less than ideal. So the point is to understand that many of our biggest breakthroughs come from not following instructions, or looking at them differently, or interpreting them differently, or even just becoming aware that there are different ways to accomplish something than the most accepted way. That’s where innovation comes from. Drawing a line over three dimensional lower walls still goes through the maze. Going around the outside takes us on the shortest path between the entry and exit.

@@RolandFrasierEPIC “through” and “around”/“over” are mutually exclusive. The point of a maze is not to get to the other side, it is to exercise the mind. The message is received intact, but there are probably other exercises that do the same thing, but much better.

@@jordanhenshaw Thank you, I will look into that. Appreciate your feedback.

It costs nothing to try it Roy. So why not give it a try. If you don’t you will never know, so give it a go!

@@RolandFrasierEPIC I saw your ad on KZbin. My next question is, is it possible to borrow money from a bank to buy a small Amazon FBA business? Let's assume it's for a buyer who has average credit and limited resources such as a saving, credit, or asset.

@@veramannpossible yes and probably the most likely option would be via an SBA loan bank. This is for people in the US. There are also many other strategies that would allow you to do this without a bank or personal credit, including seller financing, ear outs and friends and family investors

@@RolandFrasierEPIC That makes sense. I'm going to download your podcast and buy your audiobook from Audible because I need to learn about it and the concept of "other people money."

@@veramann Sounds great!

Paul, that was one of the potential options from using 1st principles reason, and you’re right, even when the thought exercise achieves a desirable financial result, the branding result, or heart and soul result might cause you to choose differently. :)

You don’t, you go to a different company right after, rinse and repeat type of thing

Sell a company after 4 years of growth