Local resources to help you buy, and grow, a business.
Before there was Contrarian Thinking, there was Sesame Street. Yup. They’ve been introducing kids to occupations since 1969 with a song called “Who are the People in Your Neighborhood”.
This week's newsletter is piggybacking, with a twist. Let’s talk about all the resources right next door to find, buy, and run, your cash-flowing business. And, if cashflow is something you're in need of right now (aren't we all) we built our premium membership Contrarian Cashflow, just for you, where one of our members just negotiated at $28k raise and another worked up a $70k profit share deal. Yup. It doesn't always have to be about buying businesses. You can get started with negotiation strategies to up your cashflow, with no money out of pocket. If this sounds interesting to you...
Making lemonade from lemons - A 'Codie rant' on what to do now that inflation seems here to stay
Resources all around - Some obvious, and some not-so-obvious, local resources to help you find, research, and run your business.
How to network - Leverage your neighbors to expand this powerful psychological principle. People are stronger, smarter, and more capable in tandem.
Rant: Europe Edition
So I’ve been in Europe this week strolling around, drinking Barolo, getting fat on pasta, stressing about not working enough AND learning about Roman history. This was my favorite fun fact. PSA: Not appropriate for children.
Besides learning that Marcus Aurelius was in fact NOT so stoic, here’s what I noticed. Communities row together in Rome as they do in the Italian Alps. There is a camaraderie in the neighborhoods that somehow, we’ve forgotten in many parts of America. The butchers help the bakers help the hoteliers. One tour guide of ours chastised a young man selling water at too high a price with the saying, “Do you need to make a killing? Can’t you just make a living?”
Another maître d' at a restaurant we weren’t even eating at flags down a cab to get us a fair rate, half of the cost of a hotel-supplied version. I suppose in today’s internet-addled world we can believe that humans have lost their… humanity. But I don’t think that’s true. It’s all around us if you just look a bit closer.
Being a decent human being might make you fabulously wealthy
Being a decent human in the real world not the metaverse may actually 10x your business. Now, I’ve referred to:
I hope in all these words it’s clear how important people are in this thing we call living.
People are your friends, customers, partners, confidants, investors, mentors. People ARE your business. So, today, I’m sharing how the people you interact with daily can be part of the plan to free your mind and build your bank account.
This is a topic we could write about for pages, but for now, let’s start small and focus on two areas: Resources and Networking. Now be warned, these lists are old-school. I’m not talking here about the next online mastermind or going to the All-In Pod conference. Why? Because you’ll find those all over Twitter. I’m talking here about the way my parents networked and got what they needed.
We are obsessed with boring businesses, but not enough of us think of boring ways to execute. EVERYONE WANTS TO BUY A PUBLICLY LISTED BUSINESS ON A WEBSITE NEVER ACTUALLY HAVING TO TALK TO A REAL HUMAN. I get it, ya’ll lazy. Like me. But the best deals are found on the pavement not on the innerwebs. If you want deals and access most won’t get you need to be willing to do what most won’t do.
So put down the iPhone and maybe print these old things we used to use call business cards. Yes, business cards.
Resources:
Tools and Organizations to help you find, purchase, and run your business
1. Small Business Development Center. Let’s begin with the biggest player in your neighborhood. There are now over 1,000 SBDC’s, providing assistance to 1 million small businesses and entrepreneurs yearly. You can see some of their services below, most of which are free or at cost.
clients generated $7.6 Billion of local small business revenue ($100,000 every 7 minutes)
clients generated 71,399 new jobs
clients built 18,691 new businesses between 2019-2020
Much of the SBDC’s work is free, they have at least one center in every state (California has 5!), extensive contacts at local banks, have expertise in marketing and information technology, host free classes on topics like digital marketing and cyber security (among so many others). Find your local SBDC by clicking here.
2. The Local Library. Before you skip this section, hear us out. In this age of digital commerce, ebooks, the metaverse, etc, most of us don’t stray far from our screens, and being told to shush is typically not something Contrarians take kindly to. But, your local library is a cornucopia of physical and digital information. Each state/city/county is going to be different, but often they will have different flavors of the following:
Business and Government Data. Many local libraries have specialized staff dedicated to starting or growing a business and accessing government grants. They have training like Grant Proposal Writing, Search Engine Optimization, Marketing, and more-all for free. Local libraries often also have centralized links to local County Economic Development offices (more on them in a sec) and legal information about business formation.
Digital Collections. Don’t pay for market research on your boring business! Your local library can help you get Industry studies, like the one below from GALE Business Insights, without paying for them.
A to Z database access. Allows you to look up records about businesses that you may be looking to purchase, find listed locations to help with mailing lists and sales leads, or reach out to NEW movers into your area who may not know about your business yet.
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Steve Jobs once said, “It’s more fun to be a pirate, than to join the Navy”. Many of the businesses I talk about are ones that most of you never thought of, and that are disrupting an old school industry like franchising. I also love businesses with great margins and when no previous experience is needed to be successful
Well, my bud Jon has never made a cabinet, never used a screw gun, and never sold a garage upgrade…. but what he did do was find a business that he grew 5X in 18 months, within the fastest growing category of home improvement – garage upgrades. He’s now expanding nationwide after creating a complete “soup to nuts” system called Garage Business in a Box that anyone can manage from their laptop.
Since they launched two months ago, he’s already added three affiliates in different markets. If you want to get all the benefits of a franchise relationship, but without all the rules, costs, and BS...
3.Office of Economic Development. Their mission is to improve their county’s economy by retaining existing businesses and encouraging new business investment. What do they do?
Real Estate database information enabling research for potential business locations. Because offices of economic development are looking to entice business growth, the information in these databases can include potential incentives, tax credits, and population density, along with all the information about the business itself.
Monthly Economic Indicators. If your county produces them, these can be fantastically helpful. You’ll find numbers about the labor force, the unemployment rate, commercial real estate vacancy rates, median home prices, hotel occupancy rates, taxable sales revenues, etc.
4. Local Chamber of Commerce or Business Orgs. Basically one word: networking. It costs you money to join but sometimes all you need is the right human at the right time.
Local Chamber of Commerce. Average cost is ~ $300-$400 yearly and Chamber events accesses are often based on membership.
Join Chamber Business Councils. Much smaller venues with significant networking opportunities. Some typical business councils would be education, government contracting, health and wellness, not-for-profit, Hispanic, etc. Great to buy businesses with people who aren’t on the internet. 60+-year-olds galore.
Ribbon cuttings. It’s cliche, but getting your small business recognized at one of these can drive business. Our friend Lisa Song Sutton does this for all of her businesses.
So, you’ve found your networking place, now how do you actually talk to people IRL?
Does anyone else ever call people up and pray they don’t answer? Ya, I get it. You can read this article on relationships that ROI 10x your crew but bottom line, open your mouth, tell neighbors what you’re interested in, and see what happens. Also maybe stop making memes about boomers if you want to buy their businesses… eh?
Also real talk… as a late-stage millennial now attempting to understand twitch… I feel triggered by this.
If you’re curious about a Turo business, talk to mechanics in your area. Vending machine delivery persons may know the local laundromat owner looking to sell, and letting others in your sphere know you're looking to buy a business just may help you find that off-market deal.
Be decent to others, go local, get off your phone, go shake an honest to God hand, because it’s right and it just may end up making you rich.
Step away from that screen and go say “Howdy Neighbor,”
Your Contrarian Team
Written by: Codie Cashflow or Die Sanchez, and CJ Don’t Over-regulate Me Mulligan
Edited by: Nikki GSD Cohn-Byrd
The 'Not So Boring' Section
George Orwell, or George McFly?:Nextdoor might be creepy, or it might be genius. Check out this site where you can complain about your neighbors, OR help grow your business.
Get help SCORING in your local community: Double-entendre aside, SCORE has 320+ local community offices across the US where they provide FREE small business mentors. Sweet.
Buy then grow: Found a biz? Now how do you grow it? If you didn't already know, we have a course on exactly how you can take your email list and turn it into a 7 figure biz, like we did. The price goes up TOMORROW but you can still grab it at its current price. Ready to start your own mini-media co? We gotchu.
Why Bill Gates is buying up farmland... and you should too
Farmland could just be the best as set class to invest in right now. And I'm not alone... Apparently, the largest farm owner in the United States, looks like he’s unlikely to have ever had dirt under those meticulously manicured fingernails. It’s the man, the myth, the legend… Bill Gates. See why I think that might be your best play right now and why I'm looking to invest!
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Disclaimer – This is the “Be an adult” section. Everything mentioned above isn’t advice, just a recount of what I did. That said: This article is presented for informational purposes only. The opinions stated here are not intended to recommend any investment or provide tax advice. Neither are they an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Codie Ventures, LLC or its affiliates. All material presented in this newsletter is not to be regarded as investment advice, but for general informational purposes only. Day trading and investing do involve risk, so caution must always be utilized. We cannot guarantee profits or freedom from loss. You assume the entire cost and risk. You are solely responsible for making your own investment decisions. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest with or without seeking advice from such an advisor or entity, then any consequences resulting from your investments are your sole responsibility. By reading/sharing this newsletter or consuming our content on our other channels, you are indicating your consent and agreement to our disclaimer.
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