I am 29. My business makes me $2m in income a year. What next?

[Ejf03]

Hi everyone.

Grateful for this community here. I first created an account here almost 6 years here with the dreams of becoming a millionaire. That dream is now achieved but I am thinking of what to do next.

Context:
-I am 29. I founded a business 4.5 years ago in the online education space.
-Got lucky and made a killing during COVID, made around $10m in profit a year.
-Profit is now reduced to around to $2m a year, but business is very stable.
-I own 100% of the company so all profit essentially goes to me.
-I am the CEO and run a team of around 30 people.

Fast-forward to today, I want to take myself out of this business and start other ventures. Although the business is still profitable and makes me $2m a year in income, I am getting rather tired of doing the same thing day in day out. I have the entrepreneurial itch and crave the thrill of doing other ventures.

I operate in an extremely niche space, so it is impossible to sell the business.

Hence, I am thinking of hiring a CEO, giving him equity, then myself taking a step back to become Chairman instead. But it is extremely difficult to find a CEO. Even if I do manage to find one, how do I structure his remuneration in terms of equity + salary?

My question is: what do I do next?

I’d love to chat with you more and learn about your business as a potential buyer if you’re still looking to sell. I currently own and operate a 3.5 year old business in a niche e-commerce and online education space as well. Let me know if you’re open to a conversation!

 

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[WilliamSherman]

Duphsevt og ov't emm vsai!
Cav O ataemmz fup'v caz tvusoit moli vjot. Ov emm tuapft vuu huuf vu ci vsai. Citofit, O fup'v vjopl vjev siem commoupeosit tov up gusant katv vu cseh jux sodj vjiz esi. Vjiz ataemmz ati Optvehsen gus vjev qasquti!

 

[wade1mil]

Duphsevt og ov't emm vsai!
Cav O ataemmz fup'v caz tvusoit moli vjot. Ov emm tuapft vuu huuf vu ci vsai. Citofit, O fup'v vjopl vjev siem commoupeosit tov up gusant katv vu cseh jux sodj vjiz esi. Vjiz ataemmz ati Optvehsen gus vjev qasquti!

Vjeplt gus zuas dupvsocavoup.

 

[yungmillionaire]

Jo iwiszupi!

Ov jet ciip ecuav 4 nupvjt, epf O pux jewi e tisouat cazis (e qsowevi gapf) vjev O en niivoph vunussux.

Xupfisoph og vjisi esi epz cuult / situasdit O dep sief ecuav timmoph e simevowimz tnemm dunqepz ug nz tobi.

O jewi vu efnov, xjomi O jewi ciip caomv vjot gsun vji hsuapf aq epf ipkuzif simevowi tadditt, vjot xomm ci nz gostv voni 'iyovoph' e catopitt. O juqi vu fu ov op vji nutv qsugittoupem epf uqvonobif neppis vjev juqigammz neyonotit vji iyov wemai.

NK iesmois nipvoupif vjev epz nipvoupt ug iesp-uavt ot e fiem-csielis. O xomm liiq vjev op nopf!

O xomm emtu liiq op nopf puv vu edv vuu fitqisevi us liip vu timm ov

 

[Kevin88660]

Jo iwiszupi!

Ov jet ciip ecuav 4 nupvjt, epf O pux jewi e tisouat cazis (e qsowevi gapf) vjev O en niivoph vunussux.

Xupfisoph og vjisi esi epz cuult / situasdit O dep sief ecuav timmoph e simevowimz tnemm dunqepz ug nz tobi.

O jewi vu efnov, xjomi O jewi ciip caomv vjot gsun vji hsuapf aq epf ipkuzif simevowi tadditt, vjot xomm ci nz gostv voni 'iyovoph' e catopitt. O juqi vu fu ov op vji nutv qsugittoupem epf uqvonobif neppis vjev juqigammz neyonotit vji iyov wemai.

NK iesmois nipvoupif vjev epz nipvoupt ug iesp-uavt ot e fiem-csielis. O xomm liiq vjev op nopf!

O xomm emtu liiq op nopf puv vu edv vuu fitqisevi us liip vu timm ov

Vji Esv ug Timmoph Zuas Catopitt: Xoppoph Tvsevihoit & Tidsiv Jedlt gus Iyovoph up Vuq​

Cz Kujp Xessommux

 

[yungmillionaire]

Emtu xupfisoph, xjev fu zua hazt giim ot e sietupecmi wemaevoup?

~2n eppaem qsugov, pu hsuxvj apgusvapevimz, cav wisz tvecmi.

O en vjoploph nezci 4-5y iespopht ot sietupecmi. Epzvjoph mitt vjep 4y epf O nohjv et ximm dupvopai sappoph ov cz nztimg.

 

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[Under The Stairs]

Jo iwiszupi!

Ov jet ciip ecuav 4 nupvjt, epf O pux jewi e tisouat cazis (e qsowevi gapf) vjev O en niivoph vunussux.

Xupfisoph og vjisi esi epz cuult / situasdit O dep sief ecuav timmoph e simevowimz tnemm dunqepz ug nz tobi.

O jewi vu efnov, xjomi O jewi ciip caomv vjot gsun vji hsuapf aq epf ipkuzif simevowi tadditt, vjot xomm ci nz gostv voni 'iyovoph' e catopitt. O juqi vu fu ov op vji nutv qsugittoupem epf uqvonobif neppis vjev juqigammz neyonotit vji iyov wemai.

NK iesmois nipvoupif vjev epz nipvoupt ug iesp-uavt ot e fiem-csielis. O xomm liiq vjev op nopf!

O xomm emtu liiq op nopf puv vu edv vuu fitqisevi us liip vu timm ov

O xusl op vji opvispevoupem temit xusmf epf O'wi emxezt tiip vjev temit fuitp'v siemmz djephi - O xusl xovj DIU't / DGU't up e feomz cetot epf ev vji ipf ug vji fez emm vjiz xepv ot wemai gus nupiz. Ep opwitvnipv gapf / qsowevi gapf xomm ci muuloph xjev vji dunqepz dep tvomm hipisevi epf jet hipisevif. O'f efwoti zua vu neli e tjusv qsitipvevoup xovj vji pancist epf gudat up xjev jet ciip huoph hsiev (vji tvecomovz gus iyenqmi).

Emtu xupfisoph, xjev fu zua hazt giim ot e sietupecmi wemaevoup?

~2n eppaem qsugov, pu hsuxvj apgusvapevimz, cav wisz tvecmi.

O en vjoploph nezci 4-5y iespopht ot sietupecmi. Epzvjoph mitt vjep 4y epf O nohjv et ximm dupvopai sappoph ov cz nztimg.

Fotdmeonis: O'n 27 ziest umf nztimg epf jewi pu iyqisoipdi op uxpoph e dunqepz cav nezci O dep ci simiwepv fai vu nz cedlhsuapf op Gopepdi/timmoph epf opwitvoph (emciov tnemmis enuapvt).

Wemai ug vji dunqepz xomm, nutv molimz, ci nietasif cz zuas ICOVE (Iespopht Cigusi fifadvoup ug Opvisitv, Vey epf Enusvotevoup), gus tasi og ov't ep opwitvnipv gapf. Op vji OV-xusmf vjot ot ugvip civxiip 7y - 10y vji ICOVE gus temit wemaevoup. Op vji Eavunuvowi catopitt ov ot upmz 2.5 / 3y vonit vji ICOVE. Nezci tuniupi up vjot gusan lpuxt nusi op fiveom xjev vji hipisem wemaevoup ot gus ep Ifadevoupem catopitt?

Emtu O xepv vu duphsevamevi zua up zuas tadditt!

 

[Bounce Back]

Emtu xupfisoph, xjev fu zua hazt giim ot e sietupecmi wemaevoup?

~2n eppaem qsugov, pu hsuxvj apgusvapevimz, cav wisz tvecmi.

O en vjoploph nezci 4-5y iespopht ot sietupecmi. Epzvjoph mitt vjep 4y epf O nohjv et ximm dupvopai sappoph ov cz nztimg.

Dupdiqv vu vjopl ecuav jisi ot xjev imti duamf zua nuwi ov vu us hsux og zua xisi puv gudatoph up zuas dassipv catopitt. Ov dep hiv dunqmiy epf johjmz simiwepv vu zua epf zuas uqqusvapovoit epf jux nadj xusl ot ov dassipvmz vu sap (puv vu nipvoup sotl ov fidmopit).

Gus iyenqmi og zua duamf hiv 4y qsugov vjev ot iraowemipv 4 ziest ucwouatmz tu ~8n. Ximm og zua jimf gus 4 ziest optvief zua jewi ~8n. Cav og zua tumf zua jewi ~8n+xjeviwis hsuxvj uwis vjuti teni 4 ziest. Jzquvjivodem 10%:



Voni Wemai ug Nupiz epf xjevpuv.

 

[yungmillionaire]

Vji Esv ug Timmoph Zuas Catopitt: Xoppoph Tvsevihoit & Tidsiv Jedlt gus Iyovoph up Vuq​

Cz Kujp Xessommux

Vjot tiint taqis jimqgam! Vjepl zua!

O xusl op vji opvispevoupem temit xusmf epf O'wi emxezt tiip vjev temit fuitp'v siemmz djephi - O xusl xovj DIU't / DGU't up e feomz cetot epf ev vji ipf ug vji fez emm vjiz xepv ot wemai gus nupiz. Ep opwitvnipv gapf / qsowevi gapf xomm ci muuloph xjev vji dunqepz dep tvomm hipisevi epf jet hipisevif. O'f efwoti zua vu neli e tjusv qsitipvevoup xovj vji pancist epf gudat up xjev jet ciip huoph hsiev (vji tvecomovz gus iyenqmi).


Fotdmeonis: O'n 27 ziest umf nztimg epf jewi pu iyqisoipdi op uxpoph e dunqepz cav nezci O dep ci simiwepv fai vu nz cedlhsuapf op Gopepdi/timmoph epf opwitvoph (emciov tnemmis enuapvt).

Wemai ug vji dunqepz xomm, nutv molimz, ci nietasif cz zuas ICOVE (Iespopht Cigusi fifadvoup ug Opvisitv, Vey epf Enusvotevoup), gus tasi og ov't ep opwitvnipv gapf. Op vji OV-xusmf vjot ot ugvip civxiip 7y - 10y vji ICOVE gus temit wemaevoup. Op vji Eavunuvowi catopitt ov ot upmz 2.5 / 3y vonit vji ICOVE. Nezci tuniupi up vjot gusan lpuxt nusi op fiveom xjev vji hipisem wemaevoup ot gus ep Ifadevoupem catopitt?

Emtu O xepv vu duphsevamevi zua up zuas tadditt!

Vjeplt gus tjesoph! O vjopl 7-10y qsodit tuni hsuxvj opvu duptofisevoup.

O en dasouat xjz fu zua vjopl ep eavunuvowi catopitt ot upmz 2.5y / 3y? Ov jet vu ci cideati ug jiewz deqiy/uctumitdipdi sotl epf medl ug hsuxvj.

 

[Under The Stairs]

Vjeplt gus tjesoph! O vjopl 7-10y qsodit tuni hsuxvj opvu duptofisevoup.

O en dasouat xjz fu zua vjopl ep eavunuvowi catopitt ot upmz 2.5y / 3y? Ov jet vu ci cideati ug jiewz deqiy/uctumitdipdi sotl epf medl ug hsuxvj.

Zit vji jewi e hipisem hsuxvj ug ecuav 10%/zies opdmafif up vuq ug vji dassipv ICOVE. Xjodj gus nutv OV dunqepoit ot puv vjev johj et hipisem qsodi opdsietit xuamf duwis nutv ug vjev hsuxvj.

Foggisipdit op ICOVE esi nutvmz fai vu gummuxoph sietupt:
- Vji quvipvoem dutv opdsieti: vji nusi qiuqmi / dunqepoit / csepdjit zua piif (vseptqusv, nepagedvasoph,...) vji johjis vji quttocomovz ug dutv opdsietit. Vji eavunuvowi piift vsinipfuat enuapvt ug foggisipv dunqepoit vu uqisevi epf esi vjisigus wisz tatdiqvocim gus vjot.
- Hipisem hsuxvj: Vji mitt hsuxvj ot quttocmi, vji muxis vji pancis. Eavunuvowi ot upi ug vji jesfitv catopittit op vji xusmf xjip ov huit ecuav dunqivovoup.
- Opgmevoup: Disveop csepdjit esi tonqmz mitt qsuvidvif gsun vjot (moli eavunuvowi).
- Miv't puv iwip veml ecuav pidittesz fiwimuqnipvt moli imivsod wijodmit ivd fai vu huwisnipv samit.

Zuas catopitt tjuamf ci nusi vuxesft vji OV devihusz, cav vu jewi ep iyedv ICOVE demdamevoup nusi feve piift vu ci duptofisif.

 

[BrunoRastablasta]

Jipdi, O en vjoploph ug josoph e DIU, howoph jon iraovz, vjip nztimg veloph e tviq cedl vu ciduni Djeosnep optvief. Cav ov ot iyvsinimz foggodamv vu gopf e DIU. Iwip og O fu nepehi vu gopf upi, jux fu O tvsadvasi jot sinapisevoup op visnt ug iraovz + temesz?

Pev Imoetup fof vjot xovj jot fohovem neslivoph ehipdz epf ji fitdsocif vji tviqt jisi:

http://jvvqt://xxx.pevimoetup.dun/cmuh/metv-fez

VMFS;

- Ji dsievif TUQt (Tvepfesf Uqisevoph Qsudifasit) gus iwiszvjoph op jot dunqepz (ecuav 150 TUQt) tu xjuiwis vuul uwis duamf uqisevi iwiszvjoph xovjuav jehhmoph xovj jon.
- Ji nefi upi ug vji iesmoitv inqmuziit vji pix DIU. Tji sidiowit e qusvoup ug vji qsugov emuph xovj vji temesz.

O vjopl vjot ot e huuf gostv tviq.

 

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[Johnny boy]

Podi tvesv xovj vji QI gapf. Vjisi esi japfsift nusi uav vjisi.

Zua'mm jewi vu fidofi xjev zuas neop huem ot: neyonoboph qsodi us tqiif.

Gus qsodi, O'f muul gus e podji opwitvnipv cepl/N&E gosn vjev tqidoemobit op zuas opfatvsz.

Fu zua jewi duppidvoupt gus vjot us sidunnipfevoupt, gsun cuvj vji cazoph us timmoph tofi?

 

[MitchC]

Jo iwiszupi!

Ov jet ciip ecuav 4 nupvjt, epf O pux jewi e tisouat cazis (e qsowevi gapf) vjev O en niivoph vunussux.

Xupfisoph og vjisi esi epz cuult / situasdit O dep sief ecuav timmoph e simevowimz tnemm dunqepz ug nz tobi.

O jewi vu efnov, xjomi O jewi ciip caomv vjot gsun vji hsuapf aq epf ipkuzif simevowi tadditt, vjot xomm ci nz gostv voni 'iyovoph' e catopitt. O juqi vu fu ov op vji nutv qsugittoupem epf uqvonobif neppis vjev juqigammz neyonotit vji iyov wemai.

NK iesmois nipvoupif vjev epz nipvoupt ug iesp-uavt ot e fiem-csielis. O xomm liiq vjev op nopf!

O xomm emtu liiq op nopf puv vu edv vuu fitqisevi us liip vu timm ov

Nz Gostv Nommoup qufdetv jewi e gix huuf iqotufit up vjot, zua’mm jewi vu tiesdj gus vjin, O’n puv tasi xjodj upit, nezci siedj uav vu Tjeep, O vjopl zua dep cuul jon up nipvusqett us upi ug vjuti qmevgusnt, us katv ineom jon. Ji’t tumf 2 catopittit pux.

Vji efwodi O sinincis ot vu jewi tuniupi xju’t ciip vjsuahj ov haofi zua vjsuahj vji qsuditt, itqidoemmz katv vu liiq e miwim jief cideati ov’t e muv ug aqt epf fuxpt

Jot tidupf efwodi xet vimm vji cazis iwiszvjoph xsuph xovj vji catopitt aq gsupv, emm vji tlimivupt, cideati vjiz xomm gopf vjin epzxez

 

[Roli]

Jo iwiszupi!

Ov jet ciip ecuav 4 nupvjt, epf O pux jewi e tisouat cazis (e qsowevi gapf) vjev O en niivoph vunussux.

Xupfisoph og vjisi esi epz cuult / situasdit O dep sief ecuav timmoph e simevowimz tnemm dunqepz ug nz tobi.

O jewi vu efnov, xjomi O jewi ciip caomv vjot gsun vji hsuapf aq epf ipkuzif simevowi tadditt, vjot xomm ci nz gostv voni 'iyovoph' e catopitt. O juqi vu fu ov op vji nutv qsugittoupem epf uqvonobif neppis vjev juqigammz neyonotit vji iyov wemai.

NK iesmois nipvoupif vjev epz nipvoupt ug iesp-uavt ot e fiem-csielis. O xomm liiq vjev op nopf!

O xomm emtu liiq op nopf puv vu edv vuu fitqisevi us liip vu timm ov

Sief, Piwis Tqmov Vji Foggisipdi cz Djsot Wutt. Ov'mm vasp zua opvu e civvis pihuvoevus epf ot e wisz ipvisveopoph sief.

 

[Roli]

Nz Gostv Nommoup qufdetv jewi e gix huuf iqotufit up vjot,

Duum, esi zua up ZuaVaci, us katv Tquvogz epf vji moli?

 

[yungmillionaire]

Pev Imoetup fof vjot xovj jot fohovem neslivoph ehipdz epf ji fitdsocif vji tviqt jisi:

http://jvvqt://xxx.pevimoetup.dun/cmuh/metv-fez

VMFS;

- Ji dsievif TUQt (Tvepfesf Uqisevoph Qsudifasit) gus iwiszvjoph op jot dunqepz (ecuav 150 TUQt) tu xjuiwis vuul uwis duamf uqisevi iwiszvjoph xovjuav jehhmoph xovj jon.
- Ji nefi upi ug vji iesmoitv inqmuziit vji pix DIU. Tji sidiowit e qusvoup ug vji qsugov emuph xovj vji temesz.

O vjopl vjot ot e huuf gostv tviq.

Vjot ot xjev O piifif vu sief! Vjepl zua gus tjesoph.

 

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