Angel Descomps @descomps
Bought a 50-yr-old heavy equipment parts distributor in TX after 4 years of self-funded, part-time search | Engineer | Dad of 3 | Sharing it forward #ETA Houston Joined July 2009-
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Budgeted a new forklift at month 10 in my diligence model. Week two after close….one breaks down. Turns out the equipment did not get the memo. Luckily was able to repair it but seems like that line item is coming due early!!
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Today I bought a 50-yr-old family business. Almost 4 years of searching while I kept my W2. Two deals blew up during diligence but finally was able to close and begin this new phase. The ETA community got me here so I want to pay it back by sharing my learnings as I figure it out.
@redwood_ryan_a Yes over time I noticed how much more competitive and busy was with brokers. My buy box was geographically constrained so had to be fairly open on business type which was B2B product or service.
@bibelhausen @JackieHirsch_ Thanks Kevin
Nobody warned me I'd love this part. A customer we have never done business with found us this week. I quoted fast, answered his questions, closed a big order. I was fired up, selling stuff is energizing!
Finished my forklift certification and got to drive one for first time today!! in such a small business when a warehouse employee is out and/or many customers picking up at once, need to be ready to jump in. Safety first!
Day 1 and 2 done! Long days as expected but energy at 200%! Long list of things to do but I was able to complete my top priorities: 1. coffee machine up and running 2. System access and logins setup (tried to find help from the IT dept but i then realized that’s also me) 3. Key customer intros completed 4. First few orders in the books Let’s goo!!
@Divenire888 sba financing with a small seller note, will share more details in future posts
@Jacob_presents Mainly reaching out and building relationships with business brokers will try to share more of the process and experience in future posts
Most important of all, this would not have been possible without my wife. Her support, encouragement and love kept me going, and I know we are just getting started!
None of this happens alone. I want to thank @SMB_Attorney your post from 2022 is the one that pulled me in, @whentheresawill podcast got me through the lonely stretches, @walkerdeibel book was the initial map, and @Sam_Rosati boot camp was the reset I needed halfway the search
Angel Descomps retweeted
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