Below are several examples of vision plans. I am not suggesting this is the way to do something. These are simply meant to be illustrative.
- [ ] Vision: Acquire 5 SMBs
What “done” looks like: successfully purchased 5 businesses and integrated them together.
Estimated time to complete: 8 years
| Skills |
Relationships |
Beliefs |
| Leadership |
Business broker |
I can run a company |
| Management |
Corporate attorney |
I can cast a compelling vision |
| Finance |
Accountant |
I can find a good deal |
| Operations |
Mentor(s) |
I will be able to find good financing |
| Sales |
|
|
| Marketing |
|
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| Time Management |
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|
| Prioritization |
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|
Year 1 - learn about the space:
- Find 3-5 books explaining the process of buying and selling businesses.
- Develop informal relationships with 5 business brokers.
- Find 3 mentors who have previously acquired SMBs.
- Practice time management and prioritization.
Year 2 - practice:
- Get an internship role in a private equity fund that actively manages portfolio companies.
- Learn about various financing options available, and how much cash I will be expected to put to work for each.
- Practice doing informal diligence on 100 deal listed on b2b marketplaces.
- Read 5 books about marketing and sales tactics for SMBs in my niche. Offer to help one of the portfolio companies implement some of the tactics for free.
Years 3-4 - acquire and operate first SMB:
- Develop a deal pipeline of 100 deals, submitting proposals on 5 and buying 1.
- Implement operating plan on first deal. Demonstrate I can increase revenue and/or profitability to achieve financial outcomes.
- Read 5 books on being a good leader and manager.
- Learn how to implement systems and SOPs.