The key to success:

Be able to cover A LOT of ground in the first 3 minutes of a conversation.

Simplify what you say. Cut out the not-necessary junk. Say it concisely.

Get your point across QUICKER.
Humans have short attention spans.

Say less. More clearly.

That’s the key to winning over LPs. Customers. Partners. Employees. You name it.
I follow someone here on twitter who is insanely good at copy and a phenomenal follow.

When he was interviewed on my favorite podcast I was pumped.

His “tell us a little about you” took 8 minutes.

I turned it off.
Be able to sell yourself quickly. Structure your conversation with bangs early and often.

Let the person you are talking to ask questions if they need clarification.

Move along quickly if they don’t.
Time with a powerful person is insanely valuable and insanely scarce.

Make it count.

Talk like you have a character limit. Because you do.
I’m not perfect and I’m always working HARD on this.

Listen to the first 90 seconds of my Pomp interview if you want to hear an example of what I mean.

You know you have an audience of 30k influential folks.

What do you do?

Make it count!

podcasts.apple.com/us/podcast/453…
My goal was to pack as much value as possible into that precious 34 minutes of airtime.

Did I do it perfectly? Definitely not. I was nervous as hell.

But we covered a ton of ground.
Treat every introduction in your life exactly like this and it will help you get closer to your goals.

Trust me!

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More from @sweatystartup

26 Dec
Controversial take:

80% of the population isn’t very competent. Not good at decision making. Financially illiterate. Poor communication skills.

If the 20% who are competent, very few of those are willing to take the risk necessary to become an entrepreneur.
The folks in that 20% that do take a risk and start a biz are very likely to do very well.
I think far too many people think of successful entrepreneurs as genius folks who are of a rare breed.

I’m here to tell you that is bullshit.

Most of them did a lot of things wrong but put themselves in the game. And did a few key things well.
Read 4 tweets
25 Dec
The last week has been a whirlwind.

My biz partner sold our business yesterday.

The Tuesday before Thanksgiving we got a $9.05MM portfolio right in our wheelhouse under contract.

The next three weeks were spent on diligence, underwriting, document prep and bank meetings.
It’s the largest deal we’ve ever chased by 3x. Pre-twitter would never have had the courage to tie up.

We’re raising $2.675MM on an aggressive structure. I practiced what I preached and raised my price.

2.5% acq fee, management fee, 50% of the depreciation.
No capital return. Long term hold. 10% pref with 50% carry. $250k minimum investment.

I was nervous but I knew the deal was a good one for all parties.

Sent out the prospectus to 150+ folks last Friday at 2pm.

Spent the next 5 days in meeting after meeting.
Read 7 tweets
23 Dec
Theory:

Very few real estate investors buy deals over $1MM.

Of the ones that do, they outgrow the $1-3MM deal quickly, moving up to larger deals.

Therefore:

$1-3MM is the perfect place to buy RE locally for an aspiring RE investor.

Sub institutional, too rich for mom-and-pop
The way to make real money.

Buy 5-10 good deals in this range over a 3-5 year period.

Group them together. Attract sophisticated buyers. Exit. Get very wealthy.
Step one on how to get started:

Make your money doing something else.

Entrepreneurship is the best way.
Read 4 tweets
21 Dec
Local club had a no-initiation fee special in August so I joined. Had played about 25 rounds in my life prior and had never broken 125.

I broke 95 today for the first time! (Typo 44 on front)

Loving the game.
Finally sprung for fitted irons and wedges ast week. Taylormade P790s were the only ones that fit me and I didn’t have to wait 8 weeks for!
For those who complain golf is boring:

I played this entire round in an hour 45!
Read 4 tweets
20 Dec
Wish me luck tomorrow.

Tis the season!
If there is a bright side of COVID it’s that the roadshows can happen from your home office nowadays.
To the folks who think this is crazy:

My wife is a registered dietician and did this 4x a week with 12 patients a day for 5 years at Tufts Medical Center
Read 4 tweets
20 Dec
I would never want to do business in a market where people "love what they do"

Those same people won't allow the market to act freely. They'll charge too little for too long. They don't care about profit. They make irrational decisions.

I'll take the not-fun biz any day.
The act of building and growing a business is the fun part for me.

Far too many people start a biz because they love what they do.

Looking at markets unemotionally is a tremendous advantage.
Here’s a list of businesses that are prime targets for selfish entrepreneurs:

sweatystartup.com/businesses-i-h…
Read 5 tweets

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