Jack Duffley @JackDuffley Twitter profile

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Jack Duffley

5 months

Well, we did it. We cracked $90k in revenue in April. So, with a little extrapolation, we're officially a $1 million firm! Now for the next problem: we only made $1,800 in profit on that $90k or so (which included $800 in credit card cash back 😅). Profit is profit, but that's

Jack Duffley

@JackDuffley

1 year

I'm aiming to build a $1 million law firm within the next year. That's $83,333.33 in revenue per month. Here are the steps that I'm planning to take. Granted, everything is always subject to change. Last month, I had about $10k in fees billed. And that was a part-time effort

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Jack Duffley

@JackDuffley

2 years

Look at $COST go.

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Jack Duffley

@JackDuffley

3 years

Take a look at this incredible, violent, massive #stockmarket crash

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Jack Duffley

@JackDuffley

1 year

The first ever Punch Card Investing meetup was a success! Thanks to everyone who has helped to build a great community! Now we just have to get @TomInvesting @lonewolvesfrank @KaranMGurnani and @bkaellner for next time

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Jack Duffley

@JackDuffley

1 year

I'm aiming to build a $1 million law firm within the next year. That's $83,333.33 in revenue per month. Here are the steps that I'm planning to take. Granted, everything is always subject to change. Last month, I had about $10k in fees billed. And that was a part-time effort

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Jack Duffley

@JackDuffley

2 years

14.5 hours later and we've made it to Dubai for @KaranMGurnani 's wedding! Not only is Karan taller than me (just like @bkaellner ), but he's also significantly more swole. That makes 2 punch card members met in person. Who will be number 3?!

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Jack Duffley

@JackDuffley

6 months

It’s my big law layoff anniversary today! 1 year ago today, I lost my big law job. The very next day, I filed the paperwork to start my own law firm. And, today, we have an 11-person team with hundreds of client matters worked so far. It’s been a crash course in business

Jack Duffley

@JackDuffley

1 year

Friday was my last day in big law. Well, at least for now. Who knows what the future really holds. It would have been nice if this was ending on my own terms...

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Jack Duffley

@JackDuffley

2 years

"The four most dangerous words in investing are, it’s different this time." - Sir John Templeton

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Jack Duffley

@JackDuffley

2 years

Just want to give a shout out to my man @bkaellner - he's eclipsed 15k subscribers on YouTube despite refusing to edit. Instead, he exclusively focuses on providing great information. Congrats on your well-deserved success, Brad! 📈

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Jack Duffley

@JackDuffley

1 year

I got laid off last week. I’m OK with it. That’s because I bought myself options. I have other things to work on, like the business I bought this year. I have assets I can pull from in a pinch. Freedom is an asset, too.

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Jack Duffley

@JackDuffley

1 year

Omaha trip just keeps getting better!

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Jack Duffley

@JackDuffley

2 years

Over the last year, my stock portfolio is down around 20% 📉, but my net worth is up 70% 📈. Here’s what most people get wrong about investing to get rich:

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Jack Duffley

@JackDuffley

2 years

My man @TomInvesting meeting billionaires left and right 📈

Investing with Tom

@TomInvesting

2 years

Me and Li Lu. We go way back

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Jack Duffley

@JackDuffley

1 year

IAH ➡️ OMA "Hey you do YouTube with a few other guys, right?" Congratulations to @Alejand86295404 for being the first confirmed stranger to recognize me in public 😅 The Punch Card empire has broad reach! On to Berkshire!

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Jack Duffley

@JackDuffley

2 years

First trip to Dubai and first time seeing my man @KaranMGurnani in person, for his wedding nevertheless! Congrats to Karan & Jasmin!

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Jack Duffley

@JackDuffley

9 months

The steam cleaning business I bought about 1 year ago has been a disaster. I’ve sunk nearly $300k into the thing. No profit. And more losses expected. Here’s what I’ve learned so far and what I plan to do to stop the bleeding: 1. DON’T UNDERESTIMATE THE PREVIOUS OWNER’S ROLE

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Jack Duffley

@JackDuffley

2 years

It's closing day! About to close on a small business in Houston, barring a very unexpected disaster 🤞 Excited for this next chapter!

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Jack Duffley

@JackDuffley

3 months

The past year of running a law firm has not been profitable. That's mostly because I overextended in the first half of this year by hiring a bit too quickly. But I've learned a ton, including a few specific things that give me a lot of confidence going forward. For one, I now

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Jack Duffley

@JackDuffley

3 months

We grew our firm from 1 attorney (me) to 5 attorneys in about 8 months. We were definitely overextended for most of that time. But we've reached the point where everyone's plates are consistently full. While we still need to clean up the administrative side of things, among

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Jack Duffley

@JackDuffley

2 months

Life's about to get a whole lot more interesting in 5 or so months [The cake declares that it's a boy!]

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Jack Duffley

@JackDuffley

2 years

“Many young men die at age 25, but are not buried until they're 75.” -Benjamin Franklin

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Jack Duffley

@JackDuffley

1 year

Happy birthday to my beautiful wife!

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Jack Duffley

@JackDuffley

2 years

I'm under contract on a small business. Due diligence ends today! Here are the 5 main reasons I'm buying a business:

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Jack Duffley

@JackDuffley

1 year

Charlie Munger on big law: "It's like a pie eating contest where the winner gets to eat more pie" 😂

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Jack Duffley

@JackDuffley

1 year

PUNCH CARD MEETUP! It's almost Berkshire Hathaway annual meeting time! Join me and other members of the Punch Card community for a casual meetup at Jams Old Market in Omaha on Friday, May 5th from 6 PM to 8 PM.

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Jack Duffley

@JackDuffley

2 years

Don't expect your employees to care any more than they are incentivized to.

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Jack Duffley

@JackDuffley

11 months

LAW FIRM GROWTH UPDATE! ‣ I hit slightly under 5-figures in billables last month, with collections looking strong so far. ‣ I worked with over 20 clients last month. ‣ I'm up to eight 5-star reviews on Google. ‣ My average client LTV is $825 (and climbing!). Right now, I'm

Jack Duffley

@JackDuffley

1 year

I'm aiming to build a $1 million law firm within the next year. That's $83,333.33 in revenue per month. Here are the steps that I'm planning to take. Granted, everything is always subject to change. Last month, I had about $10k in fees billed. And that was a part-time effort

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Jack Duffley

@JackDuffley

2 years

@bkaellner Been talking to this guy almost weekly for two years and finally got to realize that I'm shorter than him 👍

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Jack Duffley

@JackDuffley

2 years

A little door to door selling never hurt anyone! Closed a job and am trying to put our brand out there in a new area. Every effort counts!

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Jack Duffley

@JackDuffley

10 months

My law firm has gone from 1 to 4 people in about a month. It's been quite stressful but I'm already feeling a lot of the stress being lifted as each person gets into a groove. We're producing much more than I could alone. Taking 1 step back to go 2 steps forward!

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Jack Duffley

@JackDuffley

2 years

Here are my taxable stock holdings before and after purchasing a private carpet cleaning business a bit over a week ago, by weight. Let's just say my priorities have shifted...

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Jack Duffley

@JackDuffley

2 years

Ackman out of $NFLX already 👀

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Jack Duffley

@JackDuffley

2 years

Just finished my first week after having closed on an existing small business in Houston, TX Getting cash flow from day one makes things way easier

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Jack Duffley

@JackDuffley

1 year

I guess Duffley Law will be starting a lot sooner than expected 😅 Onwards!

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Jack Duffley

@JackDuffley

1 year

Getting married has been the single most motivating thing to happen to me. The game is very different when you have someone else to take care of besides yourself (though it's a two way street!). I'd imagine having kids would be the next level to that. What say you, parents?

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Jack Duffley

@JackDuffley

2 years

I went on a week-long trip to Dubai and my carpet cleaning business in Houston didn't collapse. Hooray for hiring! Thankful for my team

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Jack Duffley

@JackDuffley

1 year

Friday was my last day in big law. Well, at least for now. Who knows what the future really holds. It would have been nice if this was ending on my own terms...

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Jack Duffley

@JackDuffley

2 years

When someone primarily makes money from telling people how to make money 🚩🚩🚩

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Jack Duffley

@JackDuffley

2 years

I'm trying to buy a small business. They tend to sell at far lower multiples than public stocks. Way lower. Why? Probably because they need at least some active management and have limited liquidity. But serious opportunities are clearly there.

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Jack Duffley

@JackDuffley

3 years

Got to meet the man himself, @heycjwilson ! Chicago investor YouTubers unite! Stay tuned for a future collaboration 👍

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Jack Duffley

@JackDuffley

1 year

Finally started running ads to my law firm website. Getting calls just about every day now. Trying to get to the next level!

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Jack Duffley

@JackDuffley

1 year

@TripleNetInvest Holding to that level of gains seems like the hardest part. The temptation to sell off after an easy 5x would be tough to manage.

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Jack Duffley

@JackDuffley

2 years

I just made my first hire for the carpet cleaning business I bought a little over a week ago. It's not for another technician. It's not for an office admin. Instead, it's for a general manager. He'll basically become my chief operator. Growth flows downstream from the top.

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Jack Duffley

@JackDuffley

2 years

2023 Goals: -Payoff $200k in debt -Reach over $250k in annualized business & investment cash flow -Don't forget about those billable hour targets 😅

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Jack Duffley

@JackDuffley

2 years

Thank you, everyone!

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Jack Duffley

@JackDuffley

1 year

I've gotten a lot of encouragement about starting my own law practice. I have at least one person looking to work with me in the coming days. Your network really is your net worth. I wouldn't be nearly as confident in this option if I didn't have a decent network.

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Jack Duffley

@JackDuffley

2 years

I'm thankful for being alive in a time and place where dysentery doesn't kill a large portion of the population and there's a big chance I live past 40 👍️ #thanksgiving

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Jack Duffley

@JackDuffley

1 year

A gentle reminder that working for someone else is not risk free.

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Jack Duffley

@JackDuffley

1 year

I had to fire an employee recently. Punctuality was becoming a major problem. We gave warnings and a number of chances to change the behavior. It wasn’t enough. I think we were too slow to start addressing the issue. Next time, we'll stress our expectations from day 1.

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Jack Duffley

@JackDuffley

2 years

My 1st Week Owning a Business | Diary of a Business Owner | Ep. 1

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Jack Duffley

@JackDuffley

1 year

Launching my solo law practice has been a thrilling ride so far. I'm working closely with a number of clients now and learning a lot. Grateful for their trust and excited for the future of Duffley Law!

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Jack Duffley

@JackDuffley

1 year

My solo law practice is off to a good start - I'm working with a few clients already. It's been about a month since I got Duffley Law fully up and running. Excited to see what the rest of the year (and beyond) holds!

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Jack Duffley

@JackDuffley

2 years

The average person thinks he or she is above average

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Jack Duffley

@JackDuffley

2 years

The biggest edge when investing is a grounded temperament.

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Jack Duffley

@JackDuffley

2 years

PSA: Salaried jobs are not "guaranteed" Relying solely on a W-2 job is plenty risky, as is relying solely on your own business. Don't pretend like either is permanent. Assets buy security.

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Jack Duffley

@JackDuffley

1 year

Clients keep rolling in! Very glad to have launched a solo law practice just a short month or two ago!

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Jack Duffley

@JackDuffley

1 year

I started my own law firm a couple of months ago. I mainly do real estate work. I already have a steady stream of client work that's continuing to grow. Here's how I've gotten clients off the bat:

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Jack Duffley

@JackDuffley

1 year

A successful meetup in Chicago yesterday! Great to catch up with so many people and to meet many more! I got a lot of positive feedback about it and definitely plan on putting together more events in the future. Thanks to everyone who attended this one!

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Jack Duffley

@JackDuffley

1 year

My financial order of operations: 1. Earn active income (job, career, trading time, etc.) 2. Invest earned income into private business(es) 3. Invest business profits into real estate 4. Invest RE income into stocks, commodities, & speculative assets I'm focusing most on 1 & 2.

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Jack Duffley

@JackDuffley

3 years

Some of my favorite investing YouTube channels: @PatrickEBoyle @GeorgeGammon @GrahamStephan @bkaellner @realMeetKevin @SvenCarlin @TomInvesting @joecarlsonshow @KaranMGurnani @frankinvesting I've really enjoyed building a community and meeting people on the platform!

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Jack Duffley

@JackDuffley

1 year

My first foray into law pay-per-click ads: $421 in ad dollars spent over 2 weeks 4 small clients (worth a few hundred each at least) 1 potentially large client (worth potentially thousands) Looking at a 4x to 6x return on ad spend already Guess it's time to scale up a bit!

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Jack Duffley

@JackDuffley

1 year

Videos, books, and podcasts are great for the first 80% of learning something. But then they become an endless vortex of looking for the last 20% that can only be found with real experience.

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Jack Duffley

@JackDuffley

2 years

The greatest finance hack is dual income (bonus is not yet having kids) 😅

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Jack Duffley

@JackDuffley

1 year

I'm planning to launch periodic business owner & investor meetups in the coming months. I want to build a community of likeminded folks with varying levels of experience. Meetups like that might make for good excuses to hit up some other cities as well 😎

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Jack Duffley

@JackDuffley

1 year

I just got back from an excellent trip to Salzburg with my wife. We celebrated our 4th anniversary, and she got to fulfill her dream of visiting the city of the Sound of Music. It was a pleasant reset after an eventful last year!

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Jack Duffley

@JackDuffley

2 years

What I learned from doing my business taxes myself last year: Hire someone else to do them.

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Jack Duffley

@JackDuffley

2 years

I increasingly think of investing as defense rather than offense. Investing is first and foremost about preservation of capital. Excess growth is secondary. Granted, one home run investment can supercharge the offense. But it's hard to predict when those might happen.

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Jack Duffley

@JackDuffley

1 year

@TreyLockerbie @nytimes Would be like calling Warren Buffett a "failed airlines investor"

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Jack Duffley

@JackDuffley

1 year

YouTube & podcasts are insanely powerful procrastination tools. You might be learning something, so it feels like it's time well spent. But it's undoubtedly a lot less than you'd learn by actually trying the thing.

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Jack Duffley

@JackDuffley

1 year

We're looking for people who would be interested in hosting a monthly, bi-weekly, or weekly show on the Punch Card Investing channel. If you're interested in value investing and would like to know more, please let me know!

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Jack Duffley

@JackDuffley

9 months

I’m preparing to make my most important hire of the year. It’s the managing attorney for my law office. Here’s how it will catapult the growth of my law firm [if done well!]. 1. GETTING ME OUT OF BILLABLES As the firm owner, I am technically responsible for everything. This

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Jack Duffley

@JackDuffley

3 years

About 6 years ago, I picked up one of the Rich Dad Poor Dad books and discovered #realestate investing: Years 1-3: Learning, attending school Year 4: Door 1, house-hack in Chicago Year 5: Door 2, house in Indianapolis Year 6: Door 3, townhome in Chicago Excited for what's next!

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Jack Duffley

@JackDuffley

1 year

Focusing on tax efficiency before you actually have a large tax bill is probably costing you more money than if you focused on simply earning more first.

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Jack Duffley

@JackDuffley

2 years

I've decided to once again become a cooking channel:

Crispy Chicken Parmesan (So SIMPLE! So GOOD!)

Thanks to my man @aragusea for putting out an excellent chicken parm recipe video some years ago.Chicken Pamesan (approx. 4 portions)2 Chicken BreastsParmesa...

www.youtube.com

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Jack Duffley

@JackDuffley

1 year

The key to rapid business growth is trying to find more of your top 10% customers while cutting out the bottom 90%. For my cleaning biz, we're trying to shift increasingly towards commercial customers because of this. Bigger tickets, more often recurring, etc.

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Jack Duffley

@JackDuffley

2 years

Until your portfolio is quite large, the returns you make (or the losses you take) probably won't be too significant when we look at the big picture. The income you bring in will likely outweigh your portfolio returns. That's how my portfolio is down while my net worth is up.

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Jack Duffley

@JackDuffley

3 years

"Successful investing is about managing risk, not avoiding it" -Benjamin Graham

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Jack Duffley

@JackDuffley

3 years

$FL stock currently trades at around a $3.2 billion market cap following some negative news about Nike moving towards a direct to consumer model 👟 Meanwhile, $FL has approved $1.2 billion in share buybacks 👀

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Jack Duffley

@JackDuffley

1 year

When you work for someone else, you are one distant, impersonal committee meeting away from no longer working for that someone else.

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Jack Duffley

@JackDuffley

3 years

“Wide diversification is only required when investors do not understand what they are doing.” - Warren Buffett

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Jack Duffley

@JackDuffley

2 years

Kind of wild how you can ask a random bank "Hi, I'd like $30,000 in unsecured credit" over the phone with someone you've never met and they're just like "Sure" because your credit score is OK.

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Jack Duffley

@JackDuffley

2 years

Incentives are the most important part of hiring.

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Jack Duffley

@JackDuffley

2 years

@BenWilsonTweets Maybe we should ask Brigadier General Ripper

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Jack Duffley

@JackDuffley

2 years

I just put out a job listing for a salesperson. Our current systems have enough capacity to take on more demand (I think). Now it's time to find that demand.

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Jack Duffley

@JackDuffley

2 years

The point is, don’t forget to focus on producing more income before you get too caught up with investing. Focus on the things that really move the needle.

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Jack Duffley

@JackDuffley

1 year

I'm selling my Indy rental property. I bought it for $85k in July 2020. Put about $40k into it since then. Selling it for $180k now (after closing costs & taxes, probably $155k take home). That implies only a 4% cash flow yield on my equity if I left it in the property.

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Jack Duffley

@JackDuffley

3 years

It took me 15 months to reach my first 1,000 subscribers. It only took an extra 4 months to reach my second. Thanks to everyone who has made this possible! Next stop: 3,000!! #YouTube #Investing #Finance #RealEstate

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Jack Duffley

@JackDuffley

2 years

"The first $100k is a bitch" - Charlie Munger

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Jack Duffley

@JackDuffley

1 year

Big law: get billed out at maybe $600+ per hour and take home $100 - $150 Solo practice: bill out at, say, $250 per hour and keep all $250 Clients pay half and attorney takes double... IF the attorney can find clients!

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Jack Duffley

@JackDuffley

2 years

Netflix exiter Bill Ackman has emphasized this as the “return on invested brain damage” metric. Even if you make a positive financial return on a stock, how much mental power did you devote towards buying and holding that stock in the first place? That’s worth something.

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Jack Duffley

@JackDuffley

1 year

Big law business model: 1. Bring in clients with deep pockets and a lot of volume 2. Bill associates out at $600+ per hour 3. Pay associates $100 to $150 per hour

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Jack Duffley

@JackDuffley

2 years

My biggest surprise in running a service business so far: Insurance costs. In particular, work vans are expensive to insure.

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Jack Duffley

@JackDuffley

1 year

BUSINESS OWNERS & INVESTORS MEETUP Please RSVP here: Looking forward to seeing you in Chicago!

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Jack Duffley

@JackDuffley

1 year

When I was first getting into investing, I was infatuated with the idea of bringing in a bunch of money and not working. Years later, a life without meaningful work sounds sad. Financial freedom is the ability to work on whatever you want. And working on nothing sounds awful.

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Jack Duffley

@JackDuffley

1 year

My first deal for my solo law practice is a small commercial building. It's been exciting (and very reassuring) to get going!

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Jack Duffley

@JackDuffley

2 years

Some people: "I don't want to take the raise since it would put me in a higher tax bracket" Same people: "The rich have an unfair share!"

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Jack Duffley

@JackDuffley

1 year

Buying an existing business has proved to be quite difficult. Well, the purchase was pretty easy. But running things (profitably) has been tough. Though that challenge is an education that keeps on giving.

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Jack Duffley

@JackDuffley

2 years

#stockmarket

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Jack Duffley

@JackDuffley

1 year

Showing up on time is the root of a ton of success. Not showing on time is the root of many headaches.

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Jack Duffley

@JackDuffley

7 months

In January, we spent around 🟥 $10k 🟥 on ads and brought in less than 💵 $10k 💵 in new client retainers... In February, we've spent around 🟥 $7k 🟥 on ads and have brought in just shy of 💵 $40k 💵 in new client retainers... A few significant changes to our intake process

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