In this engaging conversation, Bakari Akil, an experienced entrepreneur, shares his journey as the Managing Director of Graves Hall Capital and a proponent of digital nomadism. He discusses the necessity of adaptability in business, highlighting how flexibility can help entrepreneurs navigate challenges and seize opportunities. Bakari also reflects on his experiences with Remote Year, the significance of representation for Black digital nomads, and the insights gained from a year of global travel, emphasizing the balance between work and cultural exploration.
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volunteer_activism ADVICE
Ease into Digital Nomadism
Consider joining organized programs like Remote Year for digital nomad living.
They handle logistics like flights, housing, and workspaces, simplifying the transition.
question_answer ANECDOTE
Persistence Overcomes Setbacks
Bakari Akil faced a major setback when a lender backed out of a deal at the last minute.
He persevered, highlighting the importance of persistence in entrepreneurship.
insights INSIGHT
From Operator to Investor
Bakari Akil's initial goal was to operate the acquired burlap company as CEO.
However, he recognized his strength in investing and transitioned to a holding company model.
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Being adaptable isn’t just a nice-to-have—it’s essential for any entrepreneur who wants to see their business thrive for years to come. Flexibility in business helps you to navigate unexpected challenges, seize new opportunities, and pivot when necessary. My interview with Bakari Akil reminded me of just how important it is to build your business with that flexibility at the core, so that you can effectively address any changes in the market without having to reinvent your operations every single time.
About Bakari Akil
Bakari Akil is an experienced entrepreneur and investor with a strong background in acquisitions and business development. As the Managing Director of Graves Hall Capital, Bakari has successfully led the acquisition of several companies, demonstrating a keen eye for identifying valuable opportunities. His approach to entrepreneurship is rooted in flexibility and adaptability, allowing him to navigate complex deals and build a diverse portfolio of businesses.
Other than his work in acquisitions, Bakari loves sharing his knowledge and experiences in digital nomadism. He has traveled extensively while managing his ventures, proving that with the right strategy, business can be conducted from anywhere in the world.
Key Insights:
Diversify your investments. I’ve always believed inspreading your business interests across different industries. This way, if one area faces challenges, others can keep your overall business stable.te
Delegate to experts. Hire experienced professionals to handle daily operations. This frees you up to focus on strategic decisions and big-picture growth instead of wasting your time on small tasks.
Prioritize recurring revenue. Look for businesses with steady, recurring revenue. This ensures a reliable cash flow and helps your business stay resilient.
Do your homework. Always visit and verify business operations in person before making any big decisions. This ensures you’re getting exactly what you expect.
Avoid depending on key individuals. Structure your business so that its success isn’t tied to one person. This makes transitions smoother and reduces risk of making your operations stuck because someone isn’t there.
Bakari's best advice for entrepreneurs:
"As an investor, it's important to be on location to see the business and evaluate it. [...] You really need to come there and make sure that the operations actually exist, that somebody's not selling you a business that actually is not there."
Beyond 8 Figures 