Ujwal Velagapudi @UjwalVelagapudi Twitter profile

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Ujwal Velagapudi

@UjwalVelagapudi

19 days

Only in Florida #HurricaneHelene

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

Bought @hibyronHQ as a fun side project on @microacquire 1 yr ago for $25k. $2.6k to $40k+ in MRR I spend 15 min/wk chatting w/ops. team on Slack Just got an offer for $1.3M Any growth expert wanna take the 🔑’s and help scale to an 8 fig. exit?

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@getnickwright We both scored the same number of points tonight 🙌🏽

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Forget a private jet. Hiring a driver is the best ROI for your time. I drive 25k miles/yr. 35 mph avg. That’s 700+ hours I could be a passenger in my car doing anything I want, disengaged. Driver comp. seems to be $50-100k. Well worth even a few hundred hours of time.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@espn Lakers in 7 King returning to the NBA Finals

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@LakeShowYo Would rather see this - I’m going to Cancun!

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Ujwal Velagapudi

@UjwalVelagapudi

5 months

Flight got delayed. Connections missed. It was a mess at the airport trying to rebook everyone. Just 2 agents working a fresh line of 50+ pissed off travelers. I was called up, pretty rudely. I flashed a smile. Made some small talk about the crazies in line. Stood there calm,

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@RealSkipBayless Lebron ended them.

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Friend bought a business for $500k a few years ago, and turned down nearly a $100M offer. 🤯

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@Dame_Lillard Ishbia needs a tech for flopping 😂

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

Met a guy at a tailgate yesterday that was telling me his story. Took $$ from his small biz’s & invested in RE for the past 5 decades. Bought land leases on outskirts of towns & waited for them to blossom. Sitting on 40+, each is low 7 figs. Zero debt. “Keep it simple.”

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Coolest business I've seen was a $40M distributor that ran out of the owner's basement. Not a tech business. Just 2 employees. Zero inventory. $8M EBITDA.

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

I’ve bought 5 small businesses before last year. Then decided to swing for the fences & buy an SMB with more zeros at the end. It was the toughest deal I’ve ever closed. Here’s my acquisition journey…

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@Lakers Lonnie + Rui + Dlo + AR gonna get 🔥 next game

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

I’ve been including a 3 page doc. w/every LOI stating: - Why I’m the right buyer - Relevant experience - 100 day plan - 12 mos. plan Brokers/sellers have really liked it & think it’s a difference maker in such a hot, fast moving market.

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

@JerryDunleavy Can someone explain what exactly “these circumstances” mean? There’s a vacancy, it was appointed, pretty simple. Obviously ppl wanting the new Exec. branch to appoint is ideal for half the population, but how is it wrong for someone to accept a once in a lifetime role??

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

Business brokers need a massive overhaul - Get on Docusign - Streamline basic NDA process w/links & few clicks - Don't be arrogant b/c you have "been in the industry for 40 years" - Let natural conversation happen b/w buyer & seller - Let astute buyers negotiate directly

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Ujwal Velagapudi

@UjwalVelagapudi

1 month

@jaiyagill @pitdesi their parking lots can’t handle this 😂

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Ujwal Velagapudi

@UjwalVelagapudi

3 months

8 years ago I had my craziest 3 day stretch: - quit my day job b/c I wanted to go to the Olympics and I had no more vacation days 😅 - closing my largest RE purchase - a 14 unit mixed use building. Seller had cold feet, tried to sell building to someone else for more - I had to

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Best acquisition I've had was on @microacquire <1 wk from listing to close Beat 100+ buyers w/email titled "Serious cash buyer" LOI in 1 day Transition was excellent, even w/first time seller. Very well documented, patiently trained, & was seamless as a buyer could ask for.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Breakdown of my recent LOI: Price: $2.6M Cash: $2M in escrow, disbursed via the following milestones: a. 80% cash at closing b. 10% cash after Seller Transition of 30 days has been completed c. 10% cash after 90 days of closing Seller Note 1: $600k paid per the following in 3

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Drafting LOI’s at La Quinta so maybe one day I can stay at a Holiday Inn Express 😎

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@SMB_Attorney I convey: - I’ve bought X biz’s in numerous industries. - I transplant myself to operate, hands on - Financing in place - I’m the only decision maker/solo owner Key one I say/write: “I know we’re both incredibly busy - so I will write you an LOI within 2 email communications +

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@kylekuzma @KingJames King James ending the Warriors

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

@TheDailyEdge Completely taken out of context. Write down the next 3 lines she says as well.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

I quit my job 5 years ago today. Salary I left was $92k/yr. I was making $125k+ from my 3 other businesses, while barely working 5 hrs/wk. It was a ton of money for me to leave at the time, but I quit on principle, knowing I could do more with the 40 hours I was spending at my

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

@JonErlichman So mature. Just like he is on the court, he’s got a high IQ off of it too. Very, very few in the world can handle this type of pressure for decades, and actually thrive in it.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@stoolpresidente The end 😂😂 Celtics in 7 🤣

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Ujwal Velagapudi

@UjwalVelagapudi

8 months

@WorldWideWob Did it all

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

Cold called a business owner Friday. Left a voicemail. Call returned this morning. “When can we meet? I’d like to exit.” Literally, just pick up the phone & dial.

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

I'm seeking my 6th SMB purchase. I've put together this thread of my acquisition criteria & my rationale behind it. As I keep learning, reviewing new biz's at this scale, & see more deals, I'll definitely have plenty more iterations. Open to all feedback, tips, & questions!

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@kylekuzma @KingJames Come back Kuz!

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Ujwal Velagapudi

@UjwalVelagapudi

20 days

Got more deals than I know what to do with. All off market. All non-SBA & hairy. $50-500k SDE. I typically structure w/no or low money down, heavy earn-outs, large seller notes, and around a 2-3x SDE. These are my types of businesses. I spend a ton of time developing

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Ujwal Velagapudi

@UjwalVelagapudi

7 months

How I’ve financed my 10 acquisitions: - cash - cash + seller credits - cash + seller note - cash - cash + earn out - cash + SBA max + seller note - private loan - commercial loan + seller note + private - private loans - seller note Cash in my early days: - actual cash I saved

Ujwal Velagapudi

@UjwalVelagapudi

7 months

I've bought 10 small businesses. Only one had an SBA loan. Only one other had a commercial bank loan. You can buy in a bunch of different ways.

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

Best transaction I've had was on @microacquire 5 days from listing to close. Beat 100+ buyers w/email titled "Serious cash buyer". LOI in 1 day. Transition was excellent, even w/first time seller. Very well documented, patiently trained, & was seamless as a buyer could ask for.

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

Just struck me that I *actually* bought a SMB w/no money down. Tiny deal, off market - 3x SDE - 13% int. - 4 yr amort - all profits go towards DSC - value add play (2x) Thought it was just something online gurus fed you to sell courses. Just gotta make it work for all parties.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Can count on one hand how many days I could do this in the past year. By far the fewest since my first dunk 12 years ago. Couple of nagging injuries really slowed me down, but been working on improving the foundation to be able to do this with ease more often. Goal is to still

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

I penciled both out: flying private: ~$3M for the 260+ hrs I flew globally time saved: 100ish hrs cost: ~$30k/hr saved hiring a driver: ~$150k w/local + international + wknds time saved: 700+ cost: $200/hr saved

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Pocket $1M/mo cash from my businesses. That’s my goal by the end of 2024. Working backwards to plan how to get there.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@RealSkipBayless Probably. But not betting against the 👑 LakeShow in 7 🙏🏽 Amazing series either way

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

@spakhm Study > ace the exam > get a good GPA > get into a good college > make good money > be successful “Your GPA is an indicator of your income & success in life.” - 8th grade teacher I believed it then, but what a joke it is when I look back on it now.

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Ujwal Velagapudi

@UjwalVelagapudi

22 days

@DannyMagazu I know a great bus driver

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@statmuse Fully healthy, a top 2 team. If we gel, maybe best in the league. But accounting for normal injuries and all, probably will finish top 4.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

One of my businesses is cashflowing nearly $500k less than last year. That’s cash straight out of my pocket. Increases I’ve faced: - $180k+ delta in variable interest rate - $50k more in insurance - $100k+ in new structure/reclassifying employees - higher COGS & other opex

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Starting to realize the power of a strong network. No one you can’t tap for help, gain access to industry expertise, partner up with, access to resources, etc. - and vice versa as we share w/peers. Most of all, just so fun learning & sharing the journey with others 💪🏽

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

Progress ✈️

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Business brokers need a massive overhaul - Get on Docusign - Streamline basic NDA process w/links & few clicks - Don't be arrogant b/c you have "been in the industry for 40 years" - Let natural conversation happen b/w buyer & seller - Let sophisticated buyers negotiate directly

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

My first cold call to a business owner: Owner: so you want to buy my company…? Me: yes Owner: seems you already have enough businesses, you don’t need another one. Have a good day. 😂😅🤔

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

SMB owners – would you hire a former small business owner onto your team or fear they’ll shortly run off to do their own thing again?

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

@xKlayx1 To what Rachel asked him, definitely the longest peak career.

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Ujwal Velagapudi

@UjwalVelagapudi

2 months

@Mikethelummox I sign nda’s like breathing air. Irrelevant doc IMO for a genuine buyer with no mal intent. Just like buyer profiles and all. Just sign and smile, part of the game

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

7 companies $80M purchase price $12M Adj. EBITDA An old friend hit me up out of the blue to help finance this deal. - worked in PE for 10+ yrs - cultivated ~1k relationships w/sellers - $1M in deal fees - going solo as an independent sponsor Different ballgame 🤯

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Ceased business operations. Sent my teams home yesterday. Hunkered down in SW FL. Praying for my team & everyone impacted by this 🙏🏽 🙏🏽 🙏🏽 #HurricaneIan

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Anyone else always have their business(es) on their mind? I love it, but what do y’all do to mentally detach for a minute?

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

@thesamparr I'll give $100k to pod/charity/anyone who introduces me to my future wife ** ** paid out in 4 installments every yr starting from wedding date Gotta be cheaper than hiring Sima aunty 😂

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@getnickwright Only he can

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Ujwal Velagapudi

@UjwalVelagapudi

4 months

THIS is what I’m working for! 5+ years of relationship to get this email. This company was listed on BBS in 2019. I was their favorite buyer, but soon got outbid 2x, and then 3x. They took it off market, continued to operate the past few years, and now are interested in

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@LegendaryQuart1 @getnickwright 😂 yes, we were so effecient

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

Latest Offer: $1.8M price $300k down NWC: I will need to put in $300-500k to fuel growth, hiring Current sales: $3.8M Cashflow: 🤷🏽‍♂️ $350k+ ish Earn out: 20% of sales above $3M until price is satisfied, then 10% (uncapped). Or 5 years, whatever comes first. Sellers: I would

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Ujwal Velagapudi

@UjwalVelagapudi

4 months

Industries where you’re the youngest one at trade shows are a great bet for an investment. So much knowledge, experience, and wealth waiting to be passed on.

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

I’ve been including a 3 page doc. w/every LOI stating: - Why I’m the right buyer - Relevant experience - 100 day plan - 12 mos. plan Got me 2 back up LOI’s & 1 accepted. Brokers/sellers have really liked it & think it’s a difference maker in such a hot, fast moving market.

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Ujwal Velagapudi

@UjwalVelagapudi

5 months

I don’t get how people are still buying brokered businesses today. Especially in hot markets, as their first business. I get roll ups, strategic buys, etc. How to get crushed in a horrible buy: - pay 4-6x SDE! This isn’t cashflow. Some of those add-backs are garbage. - pay

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Ujwal Velagapudi

@UjwalVelagapudi

11 months

If you’re searching for a multi-million dollar business and never owned one before: Buy small. Like 5 figure small. Put your own money in. Just buy something, almost anything. Not meant for everyone, but I bet it’d do good for a majority of first time buyers I’ve come across

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Walked through the @McDonaldsCorp drive through at 1am with nothing else open & Uber Eats an hour wait after a flight cancellation. I think the staff thought I was homeless and gave me extra food 😅😂

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Pretty cool seeing these guys live. Surprised at how jovial and sharp they are even at their age. Amazing seeing people doing what they love every single day even after decades. #Buffett #Munger #Berkshire2023

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Street food in my grandma’s village in India Mirchi bhajji’s 😋

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Those with *flexibility* should seriously consider moving to Puerto Rico. As investors & business owners we move mountains to eek out a few % in growth or savings. Imagine 40-54% savings! Many factors to consider, personal & business wise, but something more ppl can consider.

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Ujwal Velagapudi

@UjwalVelagapudi

5 months

$100k. That’s my salary. Artificially paycheck to paycheck. Been my salary for 5+ years. I live within my means. Reinvest everything else.

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Ujwal Velagapudi

@UjwalVelagapudi

4 months

Mailed out 24 personalized, targeted letters today. Specific business owners, asking to buy their company. I'm expecting (hoping?) for at least 2-3 calls next week. Going to follow up via call, email, and in person. Batch testing before sending out hundreds.

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

You cannot just slap a “multiple” onto an SDE/EBITDA and call it a day. So much more nuance to it than that. - seller involvement - culture - revenue trend - cashflow margins - competition - regulations - barrier to entry - branding - industry - ease of ops. - etc. What else??

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

Got my car towed last night. It was such a great experience. Such nice, chill people. Clearly I was in the wrong. I went from steaming to chatting with the guy to buy their tow yard.

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Ujwal Velagapudi

@UjwalVelagapudi

10 months

@sreekyshooter 😂😂

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@girdley I’ve done just one, and my lessons learned: - have it filed & place the UCC lien - have it noted in the note that you won’t contest/go to arbitration and will cede the biz to lender automatically if X, Y, Z happens (default). Forget what it’s called exactly in legal speak ACH is

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Ujwal Velagapudi

@UjwalVelagapudi

5 months

Spent 2 weeks in Peru this month. Hiking with 5 other entrepreneurs. Business is one commonality, but we rarely spent time discussing it. Goes so much deeper - especially with no phones & when you're both suffering on a tough hike together. In the past year I've done trips

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Why isn’t free cashflow the norm? I don’t care for my topline. Outside of a few contexts, I don’t care for my EBITDA either. Cashflow is my focus. #fintwit #SMBtwit

SMBash

@SMB_ash

1 year

“For me there is no EBITDA. It’s how much cash they pay me” @UjwalVelagapudi talks with @Sam_Rosati about generating that 💵

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Ujwal Velagapudi

@UjwalVelagapudi

3 years

Broker newsletter: Landscaping Business Revenue: $420,899 EBITDA: $1,044,588 How do I buy this unicorn? 😂

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Ujwal Velagapudi

@UjwalVelagapudi

8 months

My team's failures is a direct result of my lack of preparing them, providing resources, and overall leadership.

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Ujwal Velagapudi

@UjwalVelagapudi

10 months

2023 has been a pretty wild year.. 6 continents 10+ countries 2/3 of my time spent out of state or international ~15 conferences/events/trade shows Went from having to operate one of my businesses hands on again after firing a manager to working barely a couple of hours a week

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Ujwal Velagapudi

@UjwalVelagapudi

11 months

@gas_biz 🤣🤣🤣 Can you please @ all the brown parents out there telling their kids to become doctors 😂

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Stats from my month off: - laptop usage: 1 hr - meetings: .5 hr - calls: 3 hrs - emails on phone: 1 hr - texts: ~30 min of back and forth Team made some hires, planned for Q3/4, and simply ran their businesses w/o me. Took myself out of the day to day completely. Managers

Ujwal Velagapudi

@UjwalVelagapudi

1 year

Stepping away from my biz’s for a month. Third month long stint away. Only calls/texts/quick emails as needed. Spending time figuring out my next moves.

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

First business you should buy is BEFORE quitting your day job. - Understand acquisitions - Get your feet wet in ops. - Sell & experience full lifecycle - Stability of W2 income - Earn reps, confidence - Make some $$ I did this 3 times before leaving my W2.

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

Was voted as the Rising Star in an industry event. Yes, we're ages ahead of most competitors. We have a website, use spreadsheets, and pick up calls.

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

I need to buy a med spa. The amount of duck lips I see even in middle of nowhere America is crazy. Amazing recurring revenues too.

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Ujwal Velagapudi

@UjwalVelagapudi

5 months

I started my SMB journey buying 1.5 X multiple businesses off craigslist. That’s all I knew, and were the first hundreds of deals I saw for offline & digital businesses. Today I’ll pay ~3X (after all my new expenses) on free cashflow - not SDE or EBITDA, up to ~4X for a good

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

I’m not selling you a business until I’ve told you every single thing wrong with it. Have learned that being 100% transparent is a great sales method.

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Absolutely my advice for anyone looking to get in the game - just buy a business! Getting a small win under your belt to learn the ropes, A-Z, and operate it, is so valuable.

Acquiring Minds

@AcquiringMinds_

2 years

This worked well. Ujwal Velagapudi bought a tiny business to get experience, build confidence. Note, this is NOT the same as buying a small business as your primary search business. This is a training-wheels business, done just for the learning. @UjwalVelagapudi swears by it:

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Ujwal Velagapudi

@UjwalVelagapudi

4 years

I will buy 2 businesses this year & be a GP in a RE fund. Not a resolution - it will happen.

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Morning views

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Ujwal Velagapudi

@UjwalVelagapudi

7 months

How is it that Indian food is so good, yet there's not a single national franchise fast food or QSR?

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

Healthcare linen laundry services. Heard these places make millions in cashflow for each branch 😳

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Ujwal Velagapudi

@UjwalVelagapudi

6 months

How I’m building my dealflow: Walk in, shake hands. Brokered deals are too $$$ for me. Barely started doing this and I’ve had to stop since I couldn’t manage all the new opportunities. I’m trying to build the pipeline full of relationships with business owners for the next

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

@LakeShowYo Forreal. AR dropped 11 in the final minutes to even keep it close. At least he got some solid reps in, proved he’s a closer and can hang with the best. Get those legs rested and ready for training camp!

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Ujwal Velagapudi

@UjwalVelagapudi

2 years

A managerial candidate accepted for one of my businesses. This will be the final role to get me fully out of operations. Until I buy the next thing 😅

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Ujwal Velagapudi

@UjwalVelagapudi

1 year

Have really started to understand that “a contract is only as good as the people signing it” over the years as I’ve had dozens of agreements either sour real bad, had issues, or work out amazingly well. Doing business with the right people is a blessing 🙏🏽

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Ujwal Velagapudi

@UjwalVelagapudi

9 months

Effects of a desk treadmill: - easily hit 15-20k steps/day - standing all day since I’m too lazy to put the treadmill away for the chair - annoys some people during meetings - I think it may make me more productive Been 2+ months and it’s been awesome

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31

Ujwal Velagapudi

@UjwalVelagapudi

5 months

SBA personal guarantee should be the least of your worries. If I borrow money, I absolutely would expect to have a PG. You're entrusting me with your money, I should pledge everything I have to work to pay you back. And I will. The risk is not in the PG but in the business

4

1

31

Ujwal Velagapudi

@UjwalVelagapudi

3 years

It was great to meet everyone at @REconveneLA and put a face to those twitter handles! Lots of smart folks working on some cool RE projects. Thanks to @moseskagan for hosting! Hoping to stay in touch with all those that I didn't get to meet! #Reconvene

5

0

31

Ujwal Velagapudi

@UjwalVelagapudi

1 year

@BSMotorCity @JLEdwardsIII Deeeeeetroit 🏀

0

31

Ujwal Velagapudi

@UjwalVelagapudi

1 year

When I analyze a new deal, I trim cashflow figures with my expected opex. All things growth related is gravy, but I want to know all the new costs I’ll assume. Things to consider: - under insured - misclassified employees - wage increases - hiring/building mgt. - vendors

4

0

31

Ujwal Velagapudi

@UjwalVelagapudi

1 month

Wow, SBA 7a lenders baking in the cuts

7

2

30