TODAY’S ISSUE

🧩 ALL THINGS WORK TOGETHER
🔎 Canvassing for SMB Cache - this week’s progress that you can copy
📈 Growth - our take-aways that you can use in your business buying journey
📚️ Resources - books, podcasts, etc. we are using to make us smarter

🧩 ALL THINGS WORK TOGETHER

My head tilted back, my lips tightened, my forehead wrinkled, my eyelids opened wide. 

Shock... as I looked on at my two toddlers painting the kitchen, the floor, the table, the chair, the pantry door, the fridge... All had white paint smeared, splattered and puddled across them. 

As my brain kicked on, my four year old smattered across the floor on all fours, leaving hand and foot prints in his wake.  He proudly announced that he and his one year old brother had created their very own painting studio.  They squeeled with laughter. 

How can you be mad at that? The creativity, the initiative, the ability it took for them to move forward with this little kid plan was endearing. 

But, how do I stop it quickly?  I didn’t know what to do next with each moving so quickly. 

Later that day, my four year old played with slime.  Glitter and little confetti pieces were strewn all over the floor. 

While that was happening, I heard crunch, crunch.  I glanced over to see that an entire box of Vanilla Wafers was poured out all over the floor. My one year old was rolling his small balance bike over the top of them, listening to the sound.   

Here are a couple of positive take-aways:

1. Practice - We formatted and submitted our first LOI. 

2. Learning - We learned that some of the language in the LOI needed to be modified to better define the business we were interested in buying.

3. Network - We spoke with the broker and his representative and now have two more partners for future endeavors.

🔎 CANVASSING FOR SMB CACHE

Activities we accomplished this week.

 🪓 2 Opportunities Logged in our Analysis and Tracking Spreadsheet
 ☎️ 1 Listings Inquired After
 📬️ 1 Letter of Intent Submitted
 🏫 2 Learning Events with Unconventional Acquisitions

📈 GROWTH

This journey really is about learning, growing, self reflection and acting on the insight gained.

 🙉 Focus During Development Sessions
 ✔️ Take Development Calls from a Quiet Place, not while driving or riding
 ✔️ Turn on our Camera During the Entire Session, be vulnerable
 ✔️ Practice Active Listening, interact
 🔥 Refining Deal Box
 ✔️ Better Defining What We Do Not Want
 ✔️ Defining What We Do Want
 ✔️ Updated Website with Summary of Deal Box
 🔢 Finding an Accountant
 ✔️ Using our Network to Identify Accountants
 ✔️ Reaching out to Set Appointments to Interview
 📽️ Project Management Software
 ✔️ Researching Options, Functionality, Pricing, Getting Referrals
 ✔️ Testing Functionality of One Option (JIRA Work Management)

📚️ RESOURCES

Resources that can help you learn about small and medium business (SMB) buying:
📰 Here is an article from Sunbelt brokers in Texas.  It provides some basics around how to structure an offer and the possibilities of using your 401k to fund a deal.  This type of funding can be done without triggering a tax bill.  Be careful to get expertise if you try it. 
📰 Here is a link to the latest article from Codie Sanchez’s Contrarian Thinking Newsletter. It provides information about how to do a quick valuation of a company. She just started adding her take on several companies. I find it very helpful to understand how other people look at things. It teaches me by providing insight and perspective on things I missed.