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Don't Buy Too-Small Businesses
- Do not buy sub-million-dollar service businesses unless you have the financial runway to accept low earnings. Run the family P&L with a financial planner before committing.
Buying A Small Print Shop
- JD bought a Minuteman print franchise that did $175,000 in revenue when he took over. He doubled revenue to about $350k in the first full year but still struggled personally.
Sold The House To Survive
- JD and his wife sold their house because the business and real estate income left them cash-poor. The move to a rental was emotionally difficult for the family.