About a year ago, I started coming out as having Asperger’s.
It has been an enormous relief to own it instead of faking neurotypical.
I felt a dose of Aspie pride seeing Elon hosting SNL and thought I should write about how to better understand the Aspie in your life: 👇🏻👇🏻👇🏻
Our superpower is that we don’t care what other people think about us.
We don’t choose to disregard what people think. We don’t care because we don’t spend any time even thinking about what they think.
This can make us weird, awkward, frustrating, etc.
We are weird.
It isn’t always because we want to be weird.
That thing that makes most people acutely aware of others and how they are thinking/feeling - we don’t have that.
We don’t spend all that time that most people do trying to fit in.
We are sensitive.
We don’t appear to be, but we can actually get stung really deeply and sometimes by really random stuff. We often won’t say anything about it, but it will eat away at us.
We are obsessive.
If we are working on something (could be baking bread, could be designing a rocket ship), we are capable of singularly focusing on that thing.
We may forget to bathe, do our laundry, eat or open the mail.
We are single threaded.
This might be a male Aspie thing, but I find it impossible to multi-task.
If I am not thinking about you, it isn’t that I don’t care. I literally can’t think about two things at once.
Being interrupted is a mild form of torture for me.
We need love.
We often act like we are indifferent to the world around us, but we really crave being accepted as we are (weirdness/faults and all).
We have trouble asking for what we want or putting words to our emotions, but it can usually be pried out of us.
We are remarkable and dysfunctional at once.
We can do amazing things through extended and obsessive focus.
And we can be frustrating partners in work and love.
The key if you have an Aspie in your life is really just to understand that and assume they are doing their best.
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Smart young generalists VS experienced specialists. I have hired literally hundreds of both. Either can cause huge problems in the wrong situation and change your business in the right one. Short thread 1/
Smart young generalists are almost always terrible managers. They have no experience managing people. The smarter they are, the less patience they have for the boring, sometimes tedious aspects of good management.
Experienced specialists are often used to high pay, a big budget, and a team around them. Take any of those away and they fall on their face because they haven’t made a spreadsheet themselves in 15 years.
#1 Question I get: Where to find a business to buy?
The gold standard of business sourcing is proprietary search.
It is available to everyone yet most stay in the swamps of bizbuysell.
Even those who try mostly do it poorly.
Read on for what has worked for us. 👇🏻👇🏻👇🏻
Rule #1: You can’t boil the ocean.
Start with either a niche you understand (let’s say you are an avid snowboarder) or a sector with high gross profit margins and predictable revenue (self-storage anyone?).
Rule #2: Go Deep.
Get to know business owners in that space. Let them know you are in the market to buy. If you see any businesses listed for sale in that space, call their brokers and introduce yourself. Comb Yelp and Angie’s List if a service biz.
Did you know that 30% of funded search funds end up not making an acquisition?
We have bought eight beautiful businesses this year and learned a lot about what works and what doesn’t.
Read below for case studies of the two best (20x) acquisitions I have seen. Happy New Years!
First - you pay for existing profits, but you usually pay nothing for the growth potential. Buying at 4x EBITDA and doubling a business, you now paid 2x. Your loan payments are only based on the price you paid. You keep all the growth as equity.
So there are businesses out there that have both boring, predictable profits today AND potential for substantial growth. Make sure you find one with both.
Going to celebrate all my new followers (thanks @ShaanVP) with a thread on why 2021 is the best time in modern history to buy a business and everyone with a pulse should consider it. It is even possible to buy with no net equity. Read on for how and why:
1. SBA six month free program. If you buy before end of Sept 2021, the SBA will make your payments for you (capped at $9000 per month). That will be approx. 5% of the value of the business purchases.
2. Many people don’t know you can buy a business with an SBA loan for only 5% down. If you negotiate upfront with the seller to have 5% of the purchase on full standby (meaning it could be up to 10 years before they get paid off) you can use that as equity.