Fundamental to financial success is allocating a portion of one's time towards investigating investment or business opportunities, building a brand or marketing, and negotiating and closing the deal.
Following is a recap of how a portion of my time is allocated Monday through Friday in a typical week.
Mondays: Brand Development
- Twitter, Facebook, YouTube
- Broadcasting media
- Blogging
- Posting to relevant message boards
- Listening and getting involved in the ongoing conversations
- Interview and meet with prospective employees, contractors, or teams
Tuesdays: Businesses for Sale
- Search for industries I'm interested in expanding into
- Talk or meetup with business brokers representing listings I'm interested in
- Call owners of privately owned businesses and ask them if they'd consider selling
- Meet with potential sellers and inspect the business
- Submit NDA's (Non Disclosure Agreement), LOI's (Letter of Intent), or a formal offer
- Review a company's financials (if an LOI has been submitted, with my CPA or attorney)
- Call on relatives, friends, accredited investors, bankers to discuss purchase if additional capital is needed
- Negotiate terms, get commitments
Wednesday: Shop Stocks
- Shop for paper assets: stocks
- Use stock screeners (like google or finviz) to weed out the gold from the garbage
- Read a company's financial statements, and industry & annual reports
- Decide go/no go on a particular company - strive for 30-50% off intrinsic value for buy-in price
- Go? Do technical analysis to get right timing and buy in
Thursday: Build Business
- Expand existing company through new promotion, product, or different marketing medium
- Work on having something good to say, saying it well, and often
- Improve the company in a meaningful way
- Not sure how or what to improve in existing biz? Build a business plan for another business venture
- Post business plan to gobignetwork.com and other sites to attract investors
- Raise capital for new ventures through friends/family/angels
Friday: Shop Real Estate
- Search the MLS & Craigslist & equity swap sites for real estate for sale or lease
- Post any assets for sale that I'm willing to part with
- Call on sellers, landlords, etc.
- Inspect properties
- Submit multiple offers
- Negotiate, Due diligence
- Close escrow
Recreation: low or preferably no-cost activities like visiting the library or Barnes and Noble, watching a netflix movie, writing, playing disc golf, hitting the punching bags, playing guitar, or playing with my wife or daughter Braelynn.
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