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Laziness on my part. I'm old and comfortable, and it takes real work for 10 years to get there. And of course it requires technical knowledge learned over those
by meetingthrower 4y ago
Laziness on my part. I'm old and comfortable, and it takes real work for 10 years to get there. And of course it requires technical knowledge learned over those ten years!
But if I had worked as hard as I did earlier in my career at a trade business (remember - much lower risk than a startup as the market is very well known and demand omnipresent), I would be much richer now.
- blahblah1234567 4y agoSo, it sounds a bit like Selection Bias-- The guys who create these companies you purchase have a local a network in the industry-- That is to say: The guys who create & run the companies are able to find labor. This article is about a labor shortage... Apparently a few tradesmen are able to recruit other tradesmen, and perhaps pay them well, in the right geographic locations where there are enough skilled tradesmen (or train-able interested apprentices) to hire. But it sounds like the vast majority of Tradesmen company founders are unable to find labor.
- meetingthrower 4y agoThe skill of management is what allows you to recruit (see above. Good pay, career path, good training, treating people like humans, driving growth which creates opportunities for staff.) Most do not have it. Of course I have selection bias. But I would say if you took a y-combinator founder and said "start a trade business", in 10 years that founder would have >50% chance of cashing out for $30M or more. (Which means $5M EBITDA, on typically a 30% EBITDA margin business. So $15-20M revenue.) And they would be able to cash flow it. AND they would be taking the profits out as they go.