Generous Offer
Posted on April 9, 2008 - Filed Under My Strategy |
Mentor: “Dude, you made your mistake. Now what are you going to do?”
Clifford: “Play again. I just need to figure out how to be able to access a little more capital without having to make monthly payments on it.”
Mentor: “You have access to capital.”
For my next project my mentor has proposed working with me side by side.
It is in my nature to do things on my own. Part of my character rebels against relying on anyone to carry out their part of the deal. Usually the person flakes out, walks away thereby leaving a mess.
When my mentor tossed out the idea, I had to mull it over. The romantic notion still exists that I can do this on my own. My own path can be paved with smart decisions and lessons learned along the way.
But this is unique. My mentor plays at the big boy table. Bringing him gives me virtually unlimited access to all his knowledge, all his skills, and a lot more education than could ever be learned out of a book.
A secondary benefit: the level of risk would be greatly mitigated. If a deal was found that I thought was good, his eyes can see things mine would miss. Since he is usually right in the matters his judgment would prevail.
Indirectly this makes me responsible to other people. My reputation is now on the line. Does this make me nervous? You bet. But by delivering, more capital for future projects will be forthcoming.
My next task: develop a spreadsheet which can be used to analyze properties, front to back. Not usually my calculations but using his. My thinking: why present him with properties if I know in advance won’t work.
My mentor likes this idea.
I’m feeling really good about the next project and I have no clue what it is.
Giddy up!
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3 Responses to “Generous Offer”
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Sounds like a great learning opportunity.
moom’s last blog post..Revising Annual Goals (Up)
So would you guys be partners? Partnership agreements are must-haves if that’s the case, IMO. Especially exit strategies.
bluntmoney’s last blog post..Why do people do this?
Mrs. BM, I’m thinking he would be more of an investor than a “hands on” type person. But no doubt partnership agreements will be in place. And he never starts anything without an exit strategy.
Something I need to get better at.