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Covid dragging on and buying businesses – SG Weekly 94

Happy Monday folks, back with weekly update on business, lessons learned and more. Let’s jump in:

What I’m working on

Another week of Covid life in the books. They’re all different, but in a weird way, they all kinda feel the same. Not sure what it’s like where you folks are living, but my office has been closed for 12 months now, and it’s definitely not ideal.

That being said, I consider myself lucky that I’m in the immigration industry – and while numbers are definitely down, there are still people applying and in need of help. So I’m thankful not to be in hospitality, food, etc.

We’re still heads down improving and selling our immigration tech, and I think it’s a great area to be innovating in right now. There will hopefully be some floodgates opening when Covid finally cools down, so I’m feeling good about it.

What I’m learning

I’m learning more and more that building businesses often takes an ironic amount of work and speed, as well as the right balance of patience. No matter how hard or fast you want to work, the market and the world around you needs time to happen.

But being patient isn’t always that fun…

What I’m pondering

I really like the idea of buying existing businesses. Can’t really pinpoint a single reason, but I think it’s very opportunistic because:

  1. there are lots of boomers retiring
  2. why start from zero if you can push a snowball that’s already rolling?
  3. the internet has made it easier to find sellers, and online businesses present a whole other potential to scale income quicker

I haven’t pulled any triggers on anything yet, most likely because I’m still focused on my current immigration tech company… but one day I think I’m going to start buying, combining and building businesses in some kind of conglomerate.

Anyone else think the same?

Lastly, I’m going live on Clubhouse again on Monday, going to make it a weekly thing. Come chat about business, give/get some advice, or just listen in!

Follow @ joshschachnow to join, 7:30pm EST – if you need an invite and have an iphone, let me know!

That’s it for me, have a great week and keep grinding. And if you want to get these updates (and more) right to your inbox every Monday morning, make sure to join my personal email list here!

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