Sold an HVAC co to a 56yo guy for $570K 5 years ago w/an SBA loan. He improved and grew it. Now I'm under contract to sell it for him for $1.2M 5 years later. It's not all Holdcos and Whale Sharks Sometimes it's a skilled tradesman setting himself up better for retirement.
@ClintFiore High return on equity, but sounds like a pretty low return on brain damage & risk (given personal guarantee), particularly after transaction costs & capital gains tax.
@moseskagan Wins are different for different people with different ages and skills. Twitter is a weird success bubble and twists our perceptions. I can't think of a much smarter thing this guy could have done the last 5 years knowing his age, personal financial details, skills, etc.
@ClintFiore @moseskagan It’s like if you didn’t have a 100 Million Dollar exit in 3-5 years you ain’t did nothing! I love the statement: Wins are different for different people!
@TyronMcDaniel @ClintFiore Fwiw I’m in favor of small-scale entrepreneurship (I’m a small-scale entrepreneur!). Just thinking through amount of $$ made after taxes w effort & risks run to make it. (The fact that he’s selling to take a six figs job tells me something abt how he viewed the biz.)