business is boring This is a topic that many people are looking for. bluevelvetrestaurant.com is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, bluevelvetrestaurant.com would like to introduce to you Why You should Buy Boring Businesses – YouTube. Following along are instructions in the video below:
“Has one papa here and in this next video. I m going to tell you you why you should buy a boring business. Let s get to it and yet you didn t yet subscribe comment below share this video with a friend this channel is all about me documenting my journey out there looking to buy businesses grow businesses one share everything i know everything you want me to talk about so feel free to comment below let me know what you think any feedback would be great. I love to get the feedback from you guys and also see in the description below if you want to watch me and my companies back while we go out there looking for deals.
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If you want so yeah. See the description below for more info about that so let s talk about today s video. I see many people other especially again everyone out there talking about creating a business from scratch starting businesses start up. Everyone want to create the next facebook uber snapchat all that stuff and i see people want to change the world non stop.
Which is all great i ve got nothing against it. The only problem. I have with this is that most of those businesses fail. And again.
I m not trying to be pessimist or something like i m just saying..
If you re just starting. And you at least most the people that i talk to you start to get into business. They don t care about changing their world. As much as they care about changing their financial and lifestyle financial personal financials and lifestyle and if you want to do that i think you don t want to go in in the vibe of hey.
I m here to change the world to bring in the next new ideas. Many times. It just not lead to give businesses. I think what you want to do if you want to change your lifestyle and your financial life is actually look for boring businesses or dual businesses businesses that grow slowly year by year and by the people out there start businesses scratch.
It s gonna take you one two three many many many years to get profitable. And it s such hard work to start a business try to make it successful. What i m saying is go find a boring business. That s already someone already put the work for the first few years.
And you just go and take it when it s already working and already profitable or at saying. During the profitable where it s steadily growing literally. Many times just by word of mouth. Because the business is out there consistently and you just go in there.
After someone already already worked for that that hard and it just could give you such a great lifestyle and financial..
I guess freedom even from just one deal versus if you go and start a business from scratch and raise capital and work to startup and especially people get into technology. It s like things change. There s so much. But many times you re going to start business in the sector right now and in few months.
The technology won t be worth anything so i think going into boring. Businesses can many times. Be so much better for most people out there go and buy a boring business. You have many times were you carrying clients.
The business is so profitable literally with many times not even tribes. Because there is a good product. There s a good track record for the business. It s a good brand recognition.
There s a good in any for that business. The customers know the business already for many many years and it s so much easier to get into those type of businesses and then if you want to change the world bring your ideas into those businesses and just implement them into that existing boring businesses. When you have those good fundamentals that good financial. I guess basics and then if you want to change the war.
Just bring in another department..
A new department to your already existing business. Many people other try to go into technologies and startups and businesses that can grow really fast. But remember all those businesses that can grow really fast have also the highest risks and most of them eventually you know so many businesses have friends in the vc venture capital words were investing in those technology startups yes they can have amazing returns. But if you and your entrepreneur try to start those businesses your risk for failure is so high.
I think in my opinion just not worth it as an investor it s a different perspective. Because you know that all you need is just 1 out of 10 businesses to be successful to make a lot of money back. But when you re the intrapreneur put in all your life. All your efforts.
Many times all your savings into that one technology business in my opinion just not worth the risk so in my opinion. If you want to have i guess it clear mind not not to worry already i think by a boring business. Yes you might i mean you ll still need to work hard. But you re gonna have a steady income coming in and then yes like i said if you want to change the world still do it in your existing business and when you look to buy a business.
Just buy a business in that sector that you want to change the world also i think the fact that especially if you want to get into the space of buying businesses. When you re going to businesses that grow slow you can also just buy them at a fair price in multiples for example just to give you an example you can buy boring business for like two three four times multiples your pre tax profit versus if you go to technology businesses. It s going to be really hard to buy those businesses just because they grow so fast you can see crazy multiples. I m talking ten plus multiples on the profit that people are willing to pay for those kind of businesses again just because the returns can be so amazing.
But the risk is there as well like i know people who sold their businesses for like ten times multiples at the same time..
The owner that the new buyer had to shut down the business. After two years or so just because the technology changed so much so it s like high risk high reward in my opinion. I rather go for boring more at least as the basic for your financial life. You want to have something that is stable something it is bringing consistent cash flow every month in my opinion.
That s the best way to grow slowly and surely and then if you want to put some of that money into that have high risk. And it s okay i just put a percentage of that into things that you re willing to risk. And that s all good as well so yeah. That s it for this video.
I hope you enjoyed it subscribe comment below let me know what you think and but you know what else you want me to talk about i m here for you guys i m here documented my journey. Letting me know what i m doing day to day. And here pretty much to to answer your questions. So i hope you enjoyed it and i ll see you soon.
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