Action Academy | Millionaire Mentorship For Your Life & Business How An Air Force Vet Bought A $3.7M Construction Company w/ $485k In Take-Home Profit (Within 11 Months)
Jan 14, 2025
A former military member recounts their inspiring journey to acquire a $3.7 million construction company within just 11 months. The discussion covers the critical goal-setting and strategic planning needed for a successful business acquisition, compared to climbing a mountain. Insights into stock vs. asset sales, the importance of effective communication with employees during transitions, and clever financing strategies such as seller financing are also shared. Emphasizing community engagement, the speaker highlights how collaboration fosters entrepreneurial success.
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Matt's Success Story
- Matt joined Action Academy 11 months ago, aiming to acquire a business within a year.
- He achieved this goal, buying a $3.7 million construction company with $485,000 in profit.
Focus on the 'Where'
- Focus on the "where" (your vision) instead of the "how" when setting goals.
- Starting is key; handle obstacles as they arise.
Determine Your Buy Box
- Define your SDE requirement based on your income replacement needs.
- Avoid buying a business that's too small, turning it into another job.