Please don’t get jacked up on cheap SBA money and go tag the 14th thing you look at.
This is a valuable thread and @XavierHelgesen has excellent intentions. If you were planning to buy a SMB using the SBA, the deal got sweeter.
That said, there are caution flags I'd like to raise:
1) It's brutally hard. I outline the steps here https://t.co/MZ0beEl0UU
Please don’t get jacked up on cheap SBA money and go tag the 14th thing you look at.
If things turn against you, you’ll declare bankruptcy. Seen it happen. Not pretty.
The idea of cashing checks and “allocating capital” is a joke. Someone somewhere has done it, but I’ve never seen it.
It’s going to be a challenging 7/365 grind to hopefully make very good money. That’s the best you can hope for.
You’ll often have top employees getting more cash out of the business than the owner.
There's a chasm between the world of finance and operations. If this is surprising, be worried.
Cash is like oxygen. You only pay attention to it when it's in short supply and that's often too late.
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