To de-risk their portfolio and free up capital, the EcomCrew host is focused on selling one brand in 2019 and positioning another for sale in 2020. This episode outlines a comprehensive strategy for business exits and provides a framework for integrating personal financial goals, such as debt reduction and location independence, with entrepreneurial objectives. It provides a unique look into an entrepreneur's holistic goal-setting process.
Key takeaways
Actively plan for business exits by identifying brands to sell and working with brokers like Quiet Light Brokerage to de-risk your portfolio and take money off the table.
Integrate personal financial goals, such as achieving zero debt, into your overall business strategy to improve financial stability and personal freedom.
Develop a long-term vision for location independence and actively take steps, like streamlining operations or building remote teams, to achieve it.
Categorize your annual goals into overarching themes (e.g., "less is more," "doubling down," "focusing on me") to create a cohesive and prioritized action plan.
Combine business travel with personal travel ambitions to maximize efficiency and achieve lifestyle goals alongside professional ones.
It's the end of February and I'm behind on sharing my goals for the year. But here they are. My 19 goals for 2019. I made it a little bit different this year by coming up with three themes - less is more, doubling down on ecomCrew, and focusing more on "me". As you read through my list, you'll find that each goal fits a theme or two. 1. Sell a brand. I feel that it's time to de-risk and take some money off the table so this year we will be actively working towards selling one of our brands. I will also be creating a series on this with Joe valley from Quiet Light Brokerage. 2. Position another brand for sale in late 2020. We'll start thinking about this now in anticipation that we will be in a better spot with whatever brand we'll be letting go of next year. 3. Getting back to location independence. We were digital nomads before that was even a thing but we've been grounded in San Diego for 5 years but I miss being location independent so we'll be working on that this year. 4. Reducing debt to zero dollars. My aim is to have zero debt in the business and in our personal lives. 5. Hike the West Coast Trail on Vancouver Island. Supposedly one of the most beautiful trails in the world. Dave and I will be doing this 5-day hike along with some other guys 6. Take at least 10 weeks of personal travel. There will be a significant amount of personal travel. I'll be incorporating it the trips that we'll be doing for the EcomCrew Roadshow. I'd like to visit Iowa and North Dakota - the last two out of the 50 states that I haven't been to. I'd also like to visit some new countries this year get past the number 50 mark of countries visited. <stron
What does this episode say about finance & fundraising?
Actively plan for business exits by identifying brands to sell and working with brokers like Quiet Light Brokerage to de-risk your portfolio and take money off the table.
What does this episode say about founder & leadership?
Integrate personal financial goals, such as achieving zero debt, into your overall business strategy to improve financial stability and personal freedom.
What does this episode say about supply chain & operations?
Develop a long-term vision for location independence and actively take steps, like streamlining operations or building remote teams, to achieve it.
What does this episode say about finance & fundraising?
Categorize your annual goals into overarching themes (e.g., "less is more," "doubling down," "focusing on me") to create a cohesive and prioritized action plan.
What does this episode say about finance & fundraising?
Combine business travel with personal travel ambitions to maximize efficiency and achieve lifestyle goals alongside professional ones.
