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fatFIRE, Finding Businesses, and First $1s
The Weekly Variable
The Weekly Variable
This week we’re all about business. And since it’s marketing week, I officially started looking for Founders for divs.design. But don’t worry, that didn’t slow down my YouTube/podcast consumption. Here’s what I’ve got:
Founder’s Special
I have a deadline of securing one client by the end of the month for the current Deep30 session, and the end of April is coming up fast! I created my first post on LinkedIn yesterday and surprisingly, one of my old co-workers reached out saying he might know someone that needs help with a website, so there’s one potential lead.
As a backup plan, I deployed a variation of the waitlist method from a few weeks ago. Signing up can get a free month of service if the project is a good fit. Better to build a reputation first before worrying about making millions.
I created a post about it on Facebook and paid to “Boost” it (turn it into ad) for $21, so we’ll see what happens!
But enough about me…
Goodbye Atlas, Hello Atlas
I saw Farewell to HD Atlas the other day and almost took the bait. I hoped Boston Dynamics hadn’t been outpaced in the race to humanoid robot domination, but luckily it turns out they’re not out yet.
They debuted the new and improved, electric version of Atlas the very next day. An impressively agile improvement from the hydraulic version that’s been on YouTube for more than a decade! I’ll be anxious to see more of the new Atlas at work in their future videos, but you can compare the old and new versions below:
fatFIRE
I’ve had the fatFIRE goal in mind since the height of Mr. Money Mustache blog’s popularity back around 2015, and it basically lead me to where I am now, getting by without an employer.
MMM is all about ruthlessly cutting costs though, saving everything you can and spending as little as possible so that you can be Financial Independence, Retiring Early (FIRE). fatFIRE expands that idea by requiring more money, but also being more strategic on what you spend, setting a higher monthly allowance rather than cut everything possible.
Recently, I’ve been catching up on the My First Million podcast, and unsurprisingly, they are fatFIRE fans as well. Sam explains it better than I can in the pod, but it’s a fun subreddit to scroll. It’s been a few years since I’ve browsed it, but I used to read it all the time. You could say MFM reignited my passion for the movement. Or you could learn strategies for the fatFIRE life from guys that are actually living it:
How to Find a Business to Buy
This week, Codie Sanchez released a tutorial for how to find a business to buy in this hour long video, which is kind of mind-blowing. What a time to be alive.
I really like the simple idea of just looking at where you spend money and start with those businesses. Can you get access to the owner of that business and develop a relationship to potentially work out a deal? If you use Amazon a lot, it may be tough to get to Jeff Bezos, but there may be a small or local business near you that’s doing well and has an owner that’s looking for someone to take over. Never hurts to ask.
Crazier still, Codie gives an example of someone that ended up taking over a co-worker’s business and didn’t have to pay any money for it. They structured a deal so that the new owner would slowly take over the old owner’s business after a few years of operating together.
Not only finding a business to buy, but paying no money to buy the business. Hard to believe.
Once divs is a cash-flowing machine, I’ll be coming back to this idea and and applying the concept to acquire.com. I’m sure there are businesses on there that are looking to exit with seller financing.
Learn how to find your business to buy below:
Rich Businessman Explains New Way to Make Your First $1
First off, how can you go wrong with a title like that? You can always count on Alex Hormozi for blunt business talk.
This is one of the first videos he’s put out on any of his channel’s discussing the investment, and right away he opens with an interesting take on education.
He explains the main reason for the investment is a shift from formal education to E-learning. College continues to get more expensive, but there are also more and more ways to learn online for much cheaper, if not free. For example, Alex’s mission is to release free quality content to help businesses grow (and potentially invest in the ones that succeed).
I’m going to be honest, this video came out as I was writing this, so I haven’t gotten all the way through it, but I’m willing to bet it has a number of valuable insights. I’ll blindly recommend it now, and I’ll be finishing it up later today.
Good luck with your first $1!
And that’s it for this week! This is now officially a business newsletter, with some parts still web design and surprisingly no AI!
Those are the links that stuck with me throughout the week and a glimpse into what I worked on.
If you want to start a newsletter like this on beehiiv and support me in the process, here’s my referral link: https://www.beehiiv.com/?via=jay-peters. Otherwise, let me know what you think at @jaypetersdotdev or email [email protected], I’d love to hear your feedback. Thanks for reading!