Hey guys, Phil from Briz-Vegas in Australia!
I had a couple of opportunities recently to buy/takeover 2 businesses, but with my current mindset, I couldn't commit to the chance of wrecking them and wrecking myself, ha ha ๐ ๐คฆโโ๏ธ
They're both old guys (Bob 72 and Denis 80) who I've known for a while.
Bob has a real estate business that he's had for 27 years and Denis has a print/LED lighting/heat pump business.
Bob is happy for me to take it over ("for free") full time and "look after him for 3 years." We haven't got as far as knowing what that means exactly, but still seems like a good opportunity.
Denis hasn't specifically said that he'd sell his business to me but he has 4 kids who aren't interested in it and he's not keen to put any more money into the business.
I've previously owned my own small solar business, a trucking start-up and I've royally fucked up a property development opportunity, ha ha ๐ ๐คฆโโ๏ธ None of these were substantial enough to support me.
I've watched some of Codie Sanchez's videos and buying businesses definitely makes more sense!
I hope to learn a few simple steps on buying businesses to start with and what to look out for, especially for the 2 opportunities that I still have.
Fun fact - there's a town in the U.S. (Alabama) called 'Phil Campbell' and there was going to be a documentary made about it and all the Phil Campbell's in the world!
Grateful to be here and all the best to everyone's endeavours!! ๐๐๐๐๐๐