Is this your exit strategy?

F

FB7777

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Shit, I put about that much in my retirement and investment accounts annually

Fund your SEP to the max allowable every year ( 25% net)

One of the most prudent tax strategies available, and will allow you an EARLY exit if you choose
 

Onfire_02_01

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I myself will be doing canine waste removal for big bucks. Less physical .............
I met a guy that does this while I was cleaning carpets. His expenses were an S-10 pickup with a nice wrap, a cell phone, a place to park the truck, a five gallon bucket w/garbage bag, a scoop, and a dumpster.
I may start in the business when I get older. Find a nice neighborhood with dogs and take a walk for 2-3 weeks a spring. Not a bad way to make Beer money.
 

Onfire_02_01

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Shit, I put about that much in my retirement and investment accounts annually

Fund your SEP to the max allowable every year ( 25% net)

One of the most prudent tax strategies available, and will allow you an EARLY exit if you choose
Teach me your ways o Master! Takes me 2 years to make that much.
 

Shane Deubell

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Fred is right on, for most of us an exit strategy is having $500k to $ 1million in income generating assets someday.

Small businesses go up/down in value fast and furious. Unfortunately most of us sell when things are going bad instead of selling in our best year. Has nothing to do with carpet cleaning, just human behavior.
 

Mikey P

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You should see how the mexicans and white trash do it in Scruz. I have a buddy who runs the housing management department.

Free house, EBT cards, Obama phone and more


Under the table jobs gives them 50k a year extra cash to play with.
 
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FB7777

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This thread title and is a very important topic, Shane reminded me of a theory I have about people selling when they're down instead of while they are up.

It's extremely critical in investing

Reminds me of the thought process behind so many gamblers prior to entering a casino

They decide how much money to bring and the max they are willing to lose

Nobody ever decides beforehand to have an amount of winnings that they will quit and walk away while they are up

Everybody seems to have a loser strategy but no winning strategy


Very symbolic, this thread didn't even touch on a point that everyone will eventually have to come to terms with...when and how they'll leave the industry.

If it was a Devastator thread it would be 9 pages long
 
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BIG WOOD

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This thread title and is a very important topic, Shane reminded me of a theory I have about people selling when they're down instead of while they are up.

It's extremely critical in investing

Reminds me of the thought process behind so many gamblers prior to entering a casino

They decide how much money to bring and the max the are willing to lose

Nobody ever decides beforehand to have an amount of winnings that they will quit and walk away while they are up

Everybody seems to have a loser strategy but no winning strategy


Very symbolic, this thread didn't even touch on a point they everyone will eventual have to come to terms with...

If it was a Devastator thread it would be 9 pages long
My growth in gross this year is 27.7% (thanks to Mikey'sboard). The reason I give this forum most of the credit, is because I've never had a growth that big,and this is the year I jumped on board with all you smartasses.

With that aside, my gross is nothing to brag about. BUT, it's a huge jump from the year before. Should I consider looking for a buyer?
 

BIG WOOD

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My growth in gross this year is 27.7% (thanks to Mikey'sboard). The reason I give this forum most of the credit, is because I've never had a growth that big,and this is the year I jumped on board with all you smartasses.

With that aside, my gross is nothing to brag about. BUT, it's a huge jump from the year before. Should I consider looking for a buyer?
I don't want to sell my business, I'm working on a goal to merge 2 carpet cleaning businesses into one right now, so that's not on my mind. Just an example, that's all
 

BIG WOOD

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You purchasing a business to add to your existing?
I offered him a commission close to his percentage in profit last year on each job. There's nothing set in stone yet, but he knows me and he knows I'll boost his customer base up on Window and Pressure washing. He's growing 5 times in that part over carpet cleaning.
 

Willy P

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This thread title and is a very important topic, Shane reminded me of a theory I have about people selling when they're down instead of while they are up.

It's extremely critical in investing

Reminds me of the thought process behind so many gamblers prior to entering a casino

They decide how much money to bring and the max they are willing to lose

Nobody ever decides beforehand to have an amount of winnings that they will quit and walk away while they are up

Everybody seems to have a loser strategy but no winning strategy


Very symbolic, this thread didn't even touch on a point that everyone will eventually have to come to terms with...when and how they'll leave the industry.

If it was a Devastator thread it would be 9 pages long

I like that anology. Years ago I had to do a repair at a casino. It was right in front of the cashiets cage. When I cut out the piece a 100 dollar chip rolled out. Now the camera and security systems as so tight if you fart they can tell what you had for lunch. I walked over to the dude and he said to keep it. A while later I was around thete and I walked in to cash the chip. For some reason I sat down at the blackjack table. 5 minutes later I was up 325 bucks and I got up to cash out and leave. The guy next to me couldn't believe I was leaving because I was "on a roll". Exactly yhe right time to leave. Only time I've ever went to a casino.
 

BIG WOOD

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Run like the wind from a partnership Matt. If you only take one piece of advice from this thread let this be it. I've tried it a few times and just run. It's your success of failure, not a partners.
I don't see this being a partnership. Were not combining our businesses. I'm just paying him commission for every customer he sends to me
 

Willy P

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Just watch out closely for yourself and the business you've worked hard to create. I tried a few similar things thst just didn't pan out and a few that ended badly.
 

BIG WOOD

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Just watch out closely for yourself and the business you've worked hard to create. I tried a few similar things thst just didn't pan out and a few that ended badly.
Can you be more descriptive on the "ended badly"?

I've been swapping jobs back and forth with this guy for the past several years.
-He sends me all his customers who need air duct cleaning, and sends me work when his employee isn't doing what a good employee should do...do the job.
-I send him all my customers who need pressure washing or window cleaning
That's been our agreement for several years now, and I've send him more customers on things like construction cleanup, stripping and waxing, and general house cleaning as well. I'm not worried about him stealing any of my customers, and I hope he feels the same way about me.

So I made him that offer on him dropping out of carpet cleaning and I just pay him commission on it.
 

Mark Saiger

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Thinking way ahead on this idea. Should I run a special something like this?

3 piles for $3............small print would say , Any pile over 3 inches would be considered 2 piles

You better up your game pardner.... :lol:

(and your price! :rockon:)

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