Blueprintsmb @blueprintsmb22 Twitter profile

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Blueprintsmb

18 days

A few pple have asked what my day to day is like as a relatively new SMB owner vs my previous W-2 in public markets. Below is my summary of life now vs my old W-2 life

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Blueprintsmb

@blueprintsmb22

12 days

I’m 2 years removed from market neutral but someone sent me Morgan Stanley factors today and this is absolute death.

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Blueprintsmb

@blueprintsmb22

2 months

I am hoping someone smart can explain to me how unemployment is only 4 pct when I’ve never had so many smart friends looking for work while the onslaught of layoffs of public companies seems like a weekly occurrence.

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Blueprintsmb

@blueprintsmb22

5 days

@ChairliftCap Buyside guys like having sellside buy them lunch and dinner at Nobu57 too much where they can all giggle about the same 10 stocks they all own

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Blueprintsmb

@blueprintsmb22

5 months

@IamScottlarson and $6k for a 2 bedroom apt in NYC is actually a good deal which is insane

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Blueprintsmb

@blueprintsmb22

5 months

Asking this as someone now getting daily inbounds from pained market neutral senior analysts/PMs. How did so many of us get duped into thinking this was a sustainable career path when most barely make more than base salary for yrs while being 3 bad mos of perf from getting fired?

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Blueprintsmb

@blueprintsmb22

8 days

Personal texts this wk: “Entire team fired except the PM and me. We are dead” “Beta funds down 5-10% this wk” “Some TMT pods down 2-4%. Capital cut in half” “Risk forcing teams to cut capital” Work texts: “Javier overslept and will be in at 8am” “David has COVID”

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Blueprintsmb

@blueprintsmb22

6 days

Last night I got a text from my parents saying "Happy Gotcha Day" as yesterday was the anniversary of the day when a nice couple in Kansas adopted a 3 yr old boy from South Korea. Lots of reasons to be cynical right now, but I'll always be grateful to live in America. 🇺🇸🙏

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Blueprintsmb

@blueprintsmb22

1 month

Just spent an hr w a searcher about to close. We walked thru a 26 wk cash flow model. “Oh so I’m going to burn thru 400-500k? And this assumes customers pay on time? Why aren’t the lenders or my cpa warning me abt this?” “Have any of them run a biz before?” Pause. “Right”

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Blueprintsmb

@blueprintsmb22

4 days

My friend in long only credit pinged me today for the first time on a work related note in years to mention he's "getting absolutely destroyed." Could be nothing but usually we just share fun pics of our kids/family.

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Blueprintsmb

@blueprintsmb22

9 months

@realEstateTrent When I became a father

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Blueprintsmb

@blueprintsmb22

12 days

@jxbusiness so big platform funds require that you can't be overweight certain factors so all returns are alpha (ie stock picking). investors tend to hide in quality/size/momentum (what has worked last 12 mos)...

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Blueprintsmb

@blueprintsmb22

12 days

@jxbusiness on days like today, risk will force teams that are doing very poorly today and maybe cut exposure which only makes things worse and exacerbates this terrible action

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Blueprintsmb

@blueprintsmb22

1 month

Today I'm realizing the hardest part of transitioning from Wall St is the ability to be ok not working 24/7. Buying a SMB w no experience is hard AF but my work/life balance has never been better. Gratitude to my younger self working 90 hrs/wk but wondering now if it was worth it

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Blueprintsmb

@blueprintsmb22

29 days

I’ve always lived life on hard mode. Investment banking, public markets and now SMB owner. Coming in on Saturday to unload pallets is just another task. I wish I was smart enuf to life on easy mode but I haven’t figured it out. Selling courses def wld be easier I’m guessing

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Blueprintsmb

@blueprintsmb22

27 days

Talked to a junior M @A banker fired up abt ETA. Energy level 12/10. Talked to an ex PE guy who purchased a biz, grew it 4x, had an exit and doesn’t know what he wants to do next as the deal hurt despite the $ success. Energy level not 12/10. Both def will read this. Great guys

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Blueprintsmb

@blueprintsmb22

3 months

Maintenance guy quit. 4 customers complaining about product. Machines breaking down. Left factory at 9am to see 6 yr old daughter perform during "Int'l Day" at her school. She cried and hugged me when she saw I had come to watch her. I never cld have done this on Wall St.

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Blueprintsmb

@blueprintsmb22

20 days

Buddy under LOI for construction biz that was 1.5-2.0mm sde/EBITDA for 3x. Just got 2023 tax returns. 350-400k SDE. 2024 tracking to breakeven. Unclear if he will move forward even if price/complexion of financing changes (ie 70%+ seller financing). Be careful out there guys

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Blueprintsmb

@blueprintsmb22

12 days

@jxbusiness ...easy to own NVDA, hard to own a distressed retailer. today is showing all the garbage ripping and quality is imploding so long/short spreads are terrible. pple cld be losing 50bps in 1 day when they target 400bps over a yr

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Blueprintsmb

@blueprintsmb22

3 months

Morning. Just woke up to a text from a 40 year buddy at a major pod “pod performance in the gutter.” Could be nothing. Market neutral am I right?

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Blueprintsmb

@blueprintsmb22

9 days

Can confirm crowdstrike outage not impacting the production of sourdough bread bakery bags scheduled to ship on Monday to New Hampshire.

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Blueprintsmb

@blueprintsmb22

26 days

Another smart Wall St W2 called me to talk ETA. Late 20s & already has ? on the terminal multiple of the path. If u can make 4 pct unlevered in mkt neutral u can make 7 figs/yr but seems like more questioning the probability/cost of stress/hrs. Prob nothing new/hope I helped him

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Blueprintsmb

@blueprintsmb22

2 months

@WilsonCompanies Need more posts like this=> pple in industry explaining what the risk is w some of these services businesses

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Blueprintsmb

@blueprintsmb22

1 month

I was once interviewed by a billionaire who told me he would spend billions/give anything to "be 40 again." I think about that alot now that I'm in my early 40s and view any day with a successful bowel movement as a win. My random thought on a beautiful day in the tri-state area

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Blueprintsmb

@blueprintsmb22

23 days

PE prof telling me why he’s quitting to do search. “Pre pandemic just easy to pay down debt. Now need to improve the asset to hit return hurdles.” Oh actually growing EBITDA. Brilliant.

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Blueprintsmb

@blueprintsmb22

8 days

It’s super important to grind 80-90 hrs a week to make 7 figures for many decades so you can afford driving to Freehold NJ to pick peaches on a Saturday which is something that only…oh wait is accessible to all

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Blueprintsmb

@blueprintsmb22

3 months

If I wanted to ensure a high achiever to be miserable in life, I wld tell them to go an Ivy League school, work at a market neutral hedge fund and live in a high cost of living city. Tell me I'm wrong. This is my response to TMT pod land complaining to me of AMZN being barely up

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Blueprintsmb

@blueprintsmb22

7 months

@DecadeInvestor I was a professional hedge fund investor from 2006-2022. The answer is a clear no

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Blueprintsmb

@blueprintsmb22

8 months

SMB life today. In at 4am per usual to turn on equipment. Business closes at 330pm but I'm still at factory after 5pm waiting for Central to pickup 3 pallets. Going to be late to pickup daughter. Old Wall St buddies texting me of all the firings at a big hedge fund

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Blueprintsmb

@blueprintsmb22

1 month

Connected w a former analyst of mine who lives in Battery Park w his wife and 2 kids. Social/well liked guy. Talks to everybody. Claims he and most of those living in Battery Park are living paycheck to paycheck with less than 12 mos of savings shld they lose their W2s. Wild.

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Blueprintsmb

@blueprintsmb22

15 days

Ex finance bro 3 months post close once those sba payments start coming out of biz checking account while realizing net 30 for their customers is turning into net 60 while key team members ask for a raise

Barstool Sports

@barstoolsports

16 days

“I gotta get the fuck outta here before I lose my fucking life” Davante Adams was sick of the Jimmy G hospital balls

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@blueprintsmb22

4 days

@ColonelAngusss well he's long only-sounds like his book is imploding as spreads widening. says he's seeing stuff unwind a bit in credit. he said something that rhymed with "banally graped" - he almost never complains

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Blueprintsmb

@blueprintsmb22

18 days

Tough stretch. June was weak. July busy but short month and equipment issues due to heat not fun. Resin railcar delayed-need to find solution ASAP. Macro continues to be weak, but team is great/liquidity is fine. Have to remind myself I'm in no rush and that life is good.

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Blueprintsmb

@blueprintsmb22

1 month

My company closes the 1st wk of July (what previous seller did/now employees used to it). Costs me $50k of cash flow easily. I hate it. Chatted w a supplier owned by a billionaire-sales guy was like "Huh? You guys shutdown? We are 24 hrs/365 days a yr." Some guys just want to win

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Blueprintsmb

@blueprintsmb22

2 months

Women you have no excuse. If you want to meet men, I have your answer. Work on Wall St for 20 yrs, go on Acquiring Minds to discuss the pain of buying a subscale small biz and your DMs will be inundated by predominantly Caucasian men in their 30s. Like shooting fish in a barrel

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Blueprintsmb

@blueprintsmb22

12 days

@alexyaggy you and me both. jokes on me as i've been in a warehouse in searing 100 degree heat trying to get plastic bags manufactured to my customers! my 100% long brokerage account is enjoying this. feels very uncomfortable/not sustainable

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Blueprintsmb

@blueprintsmb22

9 days

Lately searchers have been sending me pics of their sellers. These individuals look similar to the seller of the biz I bot-an aw shucks individual in their early 60s that types 15 words a minute/can't use excel. Gives finance bros false confidence that it will be the easy. False

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@blueprintsmb22

1 month

Had a searcher stop by the factory for 2 hrs to learn abt ETA. He is ready to burn the boats and go all in. He’s living w in laws to save money as he puts on the helmet for an expected long process. He loved the factory despite the old tech. Was like a shot of adrenaline for me

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Blueprintsmb

@blueprintsmb22

4 months

@patrickdichter i've chatted with many new smb buyers (many industries) that have closed in the last 2 yrs. knife fight wld be an understatement. chasing AR, employees stealing, customers going BK, key employees leaving, etc. some staying optimistic, others convinced they have ruined their lives

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Blueprintsmb

@blueprintsmb22

1 month

When I was young working 100 hrs on Wall St in NYC, I would get angry when I wld get staffed at 8pm on a Fri night. Now my day is ruined when my team asks me to buy some rubber bands at Staples and I treat myself by buying some Mccafe k-cups to only realize I bot decaf.🤦‍♂️

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@blueprintsmb22

2 months

Had a 30 yr old ping me after learning I bot a manufacturing biz. He’s running a nice ecomm biz netting several million and has oppty to buy sizable manufacturing supplier. 30 yr old me wld be jealous. Current me just loves it when pple show up and get shvt done. Impressive

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Blueprintsmb

@blueprintsmb22

2 months

Just read an email of an ETA owner shutting down his biz/defaulting on his SBA loan. Former tech W2 that saw demand weak in 2022 where he defaulted 20 mos post close. Appreciate his transparency, but if I ever default I won’t be sending out an email like a Spotify year in review

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Blueprintsmb

@blueprintsmb22

3 months

Still looking for new maintenance guy. Buy pizza for team for lunch and invite one of previous owners (former maintenance head) to grab a slice. Mention casually a problem w a machine. Follow me if u want to learn how to exploit retired workers

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Blueprintsmb

@blueprintsmb22

4 months

A lie seller told me during diligence. "Most days I never step foot into the factory. Team is solid." 3 wks post close (a period my head was exploding learning how to run the biz) - "You need to go into the factory every 30 min to check orders - team makes alot of mistakes"😂

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Blueprintsmb

@blueprintsmb22

5 months

1.5 yrs removed from leaving Wall St to acquire a manufacturing biz an old colleague pinged me to asked me if I missed it. I wrote a quick no w a screenshot of an email exchange with a customer to show how boring my day is. “I’m so jealous you have no idea” was the response

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Blueprintsmb

@blueprintsmb22

21 days

@LPWhisperer 12mm equity in 140mm real estate assuming a 6.5 pct cap? So if the 140 is 110 his entire net worth wiped out?

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@blueprintsmb22

1 month

How a Harvard MBA envisions life after updating his 2k line excel model 2 wks pre close on a commercial HVAC biz at 4x SDE not realizing net 30/60, weekly payroll and COD with key vendors will mean he will run out of money in 6 months.

Brian Dolan

@BPD1776

1 month

How W2s think it will be when they “go out on their own”

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Blueprintsmb

@blueprintsmb22

5 days

Seeing some scary YTD #s in CIMs where 20% revenue declines are dramatically impacting EBITDA/SDE. I've seen high 6 figure EBITDA become negative. Searchers shld make sure they understand the cost structure and what EBITDA looks like in a downside revenue scenario. See below.

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Blueprintsmb

@blueprintsmb22

8 months

@bucketshopcap An all too common story. Unlike other careers there is no compounding. Your ability to generate alpha doesn’t improve the longer you do it. Had a good yr? Congrats, clock starts over Jan 2nd. A few bad mos at a pod u r done and a few bad yrs as a single mgr u r w going concern

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Blueprintsmb

@blueprintsmb22

12 days

One of my resealable tape vendors got acquired by PE. Every wk, I get an email from the sales rep asking how I am on inventory for resealable tape. Either things are slow or they put an insane amount of pressure on their sales team or both. Previous sale rep never emailed.

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Blueprintsmb

@blueprintsmb22

22 days

Landed in NYC. Hot as hell. Now at factory catching up on a wk of emails, orders, and customer complaints. Will deposit checks, pay invoices, schedule jobs and update 13 wk cash flow/quickbooks-prob 4-5 hrs of work. Choosing to do everything until I pay off more debt for now

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Blueprintsmb

@blueprintsmb22

5 months

Smb life. Woke up at 3am to meet mechanic at 345am so he can install new motor b4 extrusion comes in at 6. Smell smoke an hr later. Call 15 electricians. Finally got someone by 6am/we find a solution. Mfg is all abt speed so crisis averted. Left factory at 430 today exhausted.

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Blueprintsmb

@blueprintsmb22

4 days

An unexpected benefit of operating a small manufacturing biz is all the walking. Despite the stress of deadlines and equipment breaking in this heat, I’ve never felt better. Averaging 20k steps/8-9 miles a day this wk.

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Blueprintsmb

@blueprintsmb22

7 days

Really good post. In my experience as a first time smb owner (blue collar manufacturing), employees don’t care abt incentives as biz school classes wld suggest. Cash and trust is king. Equity doesn’t motivate at all.

John Caple

@BigJohn043

7 days

I have had a couple meetings with Ownership Works, but it is really more mega fund focused. I think the idea of alignment with all team members is really important. But I think there are some issues with what they are trying to do. 1) Employees don't really value the equity.

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@blueprintsmb22

4 months

@bucketshopcap platforms like MLP will make you sell unless takeout was written explicitly as the thesis...becomes an event/risk arb situation and most risk managers will force the L/S fundamental team to sell if a takeout was not part of the thesis. process is important to the big pods

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Blueprintsmb

@blueprintsmb22

9 months

@SMB_Attorney Math easy to follow so pple shouldn’t be questioning getting a 30-80 pct return on equity when the unlevered return of buying a biz at 3-5x is by definition is 20-33 pct. Some leverage and returns go up. Big variable obviously is what sde/ebitda does post close

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@blueprintsmb22

1 month

@KenjiCapital In Florida definitely. I would go to the Morgan Stanley Miami Brazil consumer conf in January and every investor relations professional wld fly w empty suitcases to buy luxury products at much cheaper prices than in Brazil due to tariffs

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Blueprintsmb

@blueprintsmb22

2 months

@codywagee Yes def curious if that data is out there but blue collar loosening up a lot in the last few months. Meeting candidates that worked at packaging companies that crushed during COVID but just fired half the staff in the last few weeks

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Blueprintsmb

@blueprintsmb22

8 days

@realEstateTrent 2 bedroom? Not a bad deal to be honest

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Blueprintsmb

@blueprintsmb22

19 days

If you don’t like the idea of custom made old equipment where you may have to buy parts from eBay, buying a SMB may not be for you. Good luck finding someone that knows how to fix it too! 😂

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Blueprintsmb

@blueprintsmb22

27 days

@bucketshopcap Majority of the buyside has NEVER invested in a rising rate environment. We shld all count our lucky stars we mostly invested in a declining rate environment but it clearly has led to some false ideas of what is alpha vs beta & how to make $ now. Pple angry it’s hard now

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Blueprintsmb

@blueprintsmb22

13 days

Today big customer asked for update for 50k order for bags for high school graduations (gown and cap bags) and I told him he could pick up 12 pallets this wk. Right after call, fuse blew/entire machine shutdown due to heat. Luckily team got it up and running shortly. Gratitude.

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Blueprintsmb

@blueprintsmb22

18 days

My Oprah moment. No central air in warehouse. Brutally hot. Previous owner only had a few fans. I bought each team member a personal fan. Smiles all around. YOU GET A FAN! AND YOU GET A FAN!

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Blueprintsmb

@blueprintsmb22

1 month

This honestly should be reposted every Saturday and be required reading for anyone pursuing ETA. Yes it’s a de facto working capital warning but it is amazingly not understood well even though by those in finance

Bruce Marks, MBA, CM&AA

@sbabmarks

1 month

WSS; Bruce, I want submit an LOI for a business and need your help. The financials look great on an accrual basis, but the tax returns, which are done on a cash basis, do not. Can we go over the structure to see if the deal pencils? Points to consider!

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@blueprintsmb22

20 days

Was going to write I was debating quitting X given how distracting it's been but instead will express my gratitude not to be deep in earnings previews where my longs wld be beyond stretched from a valuation perspective w my short book vulnerable to squeezes on expected bad prints

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Blueprintsmb

@blueprintsmb22

9 months

@LeadershipAcad1 Curious what others say. Entrepreneur friend teamed up finance guy to pay 9mm cash for 6 hvacs doing 2mm cash flow. They rebranded/changed numbers and cash flow went negative in 13 mos as customers didn’t know who to call. He fired the finance guy and now biz breakeven.

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Blueprintsmb

@blueprintsmb22

2 months

Important episode for those considering ETA. John very transparent abt the mistakes he made but by all accounts John is a smart individual w a long successful w2 career prior to this deal. Gratitude to John for sharing his story and Will bringing it to us.

Buying a $5m+ Business that Collapses | John Ikalowych Interview

After a professional life filled with success, John Ikalowych decided to try entrepreneurship by acquiring a business. He found an automotive hail-repair bus...

www.youtube.com

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Blueprintsmb

@blueprintsmb22

2 months

Grabbed brunch today at tops diner with another acquiring minds participant and our families. Always fun to swap employee stories as it isn’t easy to explain to our former Wall St buddies what it’s like to manage blue collar employees and the crap you can’t imagine dealing with

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Blueprintsmb

@blueprintsmb22

8 months

@bucketshopcap This doesn’t shock me. But smart pple like to make money the tiger fundamental way - buy good businesses beating numbers. Sadly doesn’t work like it used w unwinds more common. Nov 2016 post trump win, Aug ‘18, q1 ‘20, fed pivot Dec 23. Unwinds r destroying entire annual pnl

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Blueprintsmb

@blueprintsmb22

2 months

1% problems but private school costs in major cities outrageous. $40k/yr per kid in SF. Married friends with 3 kids ($120k/yr!). Breadwinner lost W2 but due to savings and home equity, financial aid is $15k off $40k per kid bill when income basically 0. Likely going public...

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Blueprintsmb

@blueprintsmb22

8 months

@SaaS_Monkey Most important variable outside of gmv of team is if your PM is a good. The best PMs r the best risk mgrs and prob couldn’t go to an idea dinner and sound smart to save their life. A lot of analysts don’t get this and get frustrated when ideas don’t get in.

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Blueprintsmb

@blueprintsmb22

25 days

I’m a Korean man. When I was living in SF, my good Indian friend Chaman and I went to go see Harold and Kumar go to Guantanamo Bay at the theater. He made me go in first-he was nervous pple wld make fun of Harold and Kumar watching Harold and Kumar. I’m no one w/o my friends

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Blueprintsmb

@blueprintsmb22

25 days

Let’s do this.

Blueprintsmb

@blueprintsmb22

26 days

Redundancy. It’s expensive hiring more pple and having excess capacity all the time, but it improves lead times and can lead to market share gains long term as customer experience improves. Are there any good books or resources talking about how to manage/think abt this?

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@blueprintsmb22

1 month

I actually don't disagree with this, but is there anything more rich kid privilege than an Ivy League grad that got a 6 figure family loan to buy his first self storage facility telling us how to raise our kids?

Nick Huber

@sweatystartup

1 month

Allowing your children to choose another meal when they don’t like what you’ve served for dinner is a sure-fire way to raise entitled, spoiled, mentally fragile kids.

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@blueprintsmb22

2 months

@SMB_Attorney Don’t love this tweet. ETA is very hard. I cringe at what I knew at 25 (had just left Morgan Stanley and was starting my career in public markets). I am doing ETA where I have enuf liquidity to pay off all my sba loans now and while I’m happy, w2 better option for most.

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@blueprintsmb22

3 months

Asked if all sectors. “Pretty much. Massive unwind last week.” If u have no idea what this means congrats- u r an interesting person. Those still at it, respect and keep plugging away. It’s only May. A lot of time to ton it or go bankrupt by thanksgiving.

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@blueprintsmb22

1 month

Good post below. My unpopular opinion is any self-funded searcher shld target 2.0+ DSCR. Shvt happens. Leverage works both ways and leverage is permanent.

Chris Hoffmann

@STLChrisH

1 month

As great as SBA programs are - creating opportunity for aspiring entrepreneurs - These programs are driving up valuations to levels that create near-zero margin for error on behalf of the buyers. Near-zero money down, 10yr terms, “air balls” — terms that banks would run from.

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@blueprintsmb22

1 month

@bucketshopcap I can't think of a tougher environment for SM. No smart allocator comfortable allocating $ to beta at this pt in the cycle is my guess and alot of SMs got exposed as basically massive growth factor bets that unwound post covid as interest rates went up for the 1st time in 20 yrs

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@blueprintsmb22

5 months

@bucketshopcap man can we agree that these convos wldn't be happening if the market wasn't at all time highs? passively living off a nice PA? doubt this convo was happening march 2020 or sept 2008...pple need to take a step back and figure out how to solve for the things that matter for them

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@blueprintsmb22

4 months

Great post by Chenmark this week. "In our experience, a big part of effective leadership in SMB is knowing what battles to fight, and when. If we run around trying to fix every single problem we will make ourselves (and our team) crazy. It’s easy to lose common sense..."

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@blueprintsmb22

10 days

Smurf mode this morning. Blue tinted wicket bags going to Texas. No idea what they are used for.

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@blueprintsmb22

10 days

All 3 extruders running smoothly. Hoping for some rain today to take the bite out of the heat this week.

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@blueprintsmb22

7 days

@SMB_Attorney Problem is they dont have relevant experience. I’ve interviewed candidates controlling 100mm pnls for publicly traded companies. They solve problems by spending 500k. That doesn’t solve problems in micro PE.

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@blueprintsmb22

1 month

@KrissBergTweets You have changed their lives for the better. As a Korean adoptee (adopted age 3 and grew up in Kansas) my gratitude for the opportunities I’ve had being here in America is boundless. Happy Father’s Day!

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Blueprintsmb

@blueprintsmb22

17 days

i presented this table w no bias. 99% will think both sound terrible (not wrong). some will like one over the other. i think it's clear we should all be selling courses - way easier

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@blueprintsmb22

5 months

@LeadershipAcad1 Not paying taxes

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Blueprintsmb

@blueprintsmb22

7 months

14 mos post close of my first smb. Pretty cool sba supports first time owners. Also complete insanity they wld loan to pple like me w zero experience. Way harder than I cld have imagined but enjoying it. Paying down most of my credit facility off feels like a win so far.

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Blueprintsmb

@blueprintsmb22

5 months

My oldest bag machine. Just spent thousands to have industry expert upgrade the entire system. Doesnt look like much but runs way faster and smoother and will help complete a 75k ice bag order next week.

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Blueprintsmb

@blueprintsmb22

2 months

@whalewisd0m Def seeing it in tech/finance but also talking to other owners in blue collar industries. I have seen quality of candidates jump up with a noticeable uptick in strangers walking into my office asking if I have work for them (get about 4-5 a wk versus maybe 4 all of last yr)

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Blueprintsmb

@blueprintsmb22

12 days

Debt collection agency called the work line looking for one of my employees. I asked the caller what her name was. She said, "Mona Lisa." Even pple who have never met me think I'm a complete moron.

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Blueprintsmb

@blueprintsmb22

26 days

In Kansas City visiting my parents for the week and grabbing food for lunch. Waiting for our food and was asked “Do we sit ourselves?” Me: “Dunno I’m just waiting for food.” “Oh u don’t work here.” “Nope.” Only Asian in the restaurant. Got it Kansas City

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Blueprintsmb

@blueprintsmb22

1 month

@LateStgeCapital @rev_cap @PauloMacro @SquirrelMacro yeah, their pricing for 1 day lanes is why they are losing share w me right now. my volumes w them dropped prob 90% last month and sales guy panicking. again i'm an irrelevant datapt fwiw (too small)

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Blueprintsmb

@blueprintsmb22

1 month

@RobertMayer He’s a smart guy but working capital is not something pple really think abt enough on these deals as u r up to ur eyeballs on the APA, getting financing/mentally accepting a PG, doing diligence, etc. Why a lot of the smb community talk about working cap weekly here which is good

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Blueprintsmb

@blueprintsmb22

2 months

@PhillySMB i admit i'll lose a good 1-2 hours sometimes watching those back and neck adjustment tik toks...something strangely cathartic hearing all those joints cracking

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Blueprintsmb

@blueprintsmb22

4 months

This wk I'm exhausted, sick (cold/flu) and burnt out for no particular reason. Biz is fine/busy. Will be home by 5pm w/ no wkend work for the foreseeable future. In my old life I would be looking at 6-7 day wks doing earnings previews with NFLX starting the "fun" on 4/18...

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Blueprintsmb

@blueprintsmb22

2 months

@bucketshopcap i don't miss it. waiting for the flood of 30 yr olds to be 1) exhausted in 5 yrs, 2) give up on the dream of being a PM as it no longer appeals, 3) setup a random llc like patient rock capital and 4) send me an unsolicited email asking if i want to sell my biz for 5x sde

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Blueprintsmb

@blueprintsmb22

4 months

@realEstateTrent Lived in the upper west side w my little one for a few years. Fantastic area for young families

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Blueprintsmb

@blueprintsmb22

4 months

@EndresenHeather @acquanon one thing buyers dont incorporate in first 3 mos model projections and working capital needs is risk of an asset sale causing vendors to reprice credit terms from net 30 to COD upon delivery until credit is "built." getting a nice express line of credit + buying inventory a must

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Blueprintsmb

@blueprintsmb22

5 months

Team came in on the dot at 5am on a saturday. I got in at 4am to warm up the machines. Buying them a nice breakfast this morning. Proud and grateful to have employees that are truly team players.

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Blueprintsmb

@blueprintsmb22

4 months

@moseskagan i agree w this. almost all of my peers that went this route are millionaires. almost all r incredibly miserable too. my richest friends tho didn't go this route, approached life nonlinearly and have generational wealth running their own businesses and fly private

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