Why I’ve been MIA 👀
A day off at Sydney Park
Half the story is I got pretty busy with RaffleLink as we released our long-awaited platform upgrade (still in beta) and rushed to build a few custom features for some new big client partnerships we got.
The other half is that I got back in the ring and started getting far along in a few small business acquisition opportunities I spotted. That is when I realized that I unfortunately have a conflict of interest with this newsletter.
I always thought in this golden era of baby boomer retirement there were way too many good small businesses out there for sale than I could individually consume, so I figured I wouldn’t mind sharing the love. But the thing is…finding them is hard and finding truly great businesses at cheap prices is even harder so when I do find one, naturally I want to pursue it myself which is what happened this past month.
I found:
A $4M education technology business that had 50% margins and was offering 75% seller financing
A $4M fully-remote MSP IT business with 80% recurring revenue and a fully diversified client base
A $1M property management business in a major market that has been around for several decades with 99% retention lol
One fell through cause I lost the LOI bid, another I backed out cause I wasn’t ready for that commitment yet, and another I am still in talks with.
The short story is that the deals I find and used to send through this newsletter are “good” and they do match and simulate my typical buying criteria and standards but they clearly aren’t good enough for me to want to pursue myself. And I think that’s where I kind of lost my motivation for it.
I’ve heard it is helpful for some people as a learning exercise but it takes me a lot of time to dig through the deals out there and sometimes I am forced to include 3 deals cause I promised 3 deals even if they aren’t actually 3 good deals.
I’m still ironing out the details, but going forward, I think I’ll use this channel as a way to talk about what’s going on in my journey more in depth from how my 3-year transformation plan with RaffleLink is going to any new acquisition deals I am pursuing to any thoughts and ideas I find insightful.
Let me know if you guys have any suggestions on what you might find interesting about my journey and want to learn more about 😎
Where are the Tik Tok videos??
Clearly as some of you might have noticed, I’ve also lost some rhythm and momentum with my Tik Tok videos.
Half the story is that it’s hard to prioritize doing Tik Tok, the rewards of which take longer to materialize (connections, brand, audience), over things I can do for RaffleLink and my acquisitions business which translates directly into revenue very quickly.
The other half of the story is I’m a bit lost in what kind of content I should post. The hardest part about posting is thinking about what to post. It’s easier if you really know what your niche is but my niche has jumped around from classic small business acquisition tips and warnings for complete beginners to alternative investment advice (real estate vs small business acquisition) to RaffleLink stories and updates to startup philosophy/news.
I think I just need to get back in the ring and stop thinking so much cause the things posting on Tik Tok has given me so far (a really close friend, an investor backing me, a client I’m now consulting) are real and definitely worth it. Plus, it’s kind of fun and teaches me a whole different side of business and character building.
This is me telling all of you so I hold myself accountable next week 🤓
Tell me what you think plss
One of my goals in this next phase of @eddieacquires is to just go where my audience wants me to go and not overcomplicate it so please if you have any advice or requests, message me on Tik Tok, reply to this newsletter or email me at [email protected]