Business Buyer Diaries: the Reality Before, During, and After
<p>Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat the same mistakes I do.</p>
<p>Join the Business Buyers Club! <br>
https://businessbuyersclub.com/memberships <br>
Enter code 070499</p>
<p>Learn Due Diligence for yourself! <br>
https://dealacademy.app.clientclub.net/courses/offers/75e59f69-9746-4b94-a6cd-562bcc9347d1 <br>
Enter code</p>
<p>SanterMedia, my goto Gym Marketing Agency <br>
https://go.santermedia.com/nathan <br>
Tell them Nathan sent you!</p>
Business Buyer Diaries: the Reality Before, During, and After
362. It takes 3x more efforts to run events than people think, I’m blessed to have my challenges
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Morning Men's Group Workout Leadership
Speaker 1Good morning . Well , I just finished up a workout with my church men's group and today was good . So the main guy who leads it , he's on a missions team this week . So I volunteered to keep the group going and basically it's a group of guys that read a couple of chapters of the Bible . We show up at 6 am , we talk about for like 10 , maybe 15 minutes , and then we do like a HIIT workout at 6 am . We talk about for like 10 , maybe 15 minutes , and then we do like a hit workout at our church parking lot , then mention prayer requests and then take a group photo for those that showed up . And so the guy that's been leading it has been doing it weekly for gosh I don't know two months at this point , and so I volunteer like , hey , I've kind of seen the program , I see how it goes , the format , happy to . Hey , I've seen the program , I see how it goes , the format , happy to step in and cover it . And so a good number of the guys still showed up .
Speaker 1And it's crazy , as an attender person that benefits from masterminds or groups or events , there's a lot more work than people realize . Part of it is creating the workout . Everyone has different health requests . Some folks really love health requests , some folks really love running , some folks really love upper body , some love squats , um , so you gotta find something that works for most everyone so they keep coming back . Then you also need to coordinate , like reminding people hey , we're gonna be doing this thing , I'm gonna show up , and then , once they show up , you now have your text thread . Of all , right , out out of 10 guys , six guys are showing up . I'm going to text the workout and the prayer request
Behind the Scenes Effort
Speaker 1to people . And then you got to actually be 10 minutes early . You got to read the material , you got to know what you're walking into and then leading the discussion and then you do the workout . And then you even doing the workout , like all right 30 seconds or 60 seconds , like you got to run the timer , you got to coordinate the music and just everything that goes into running a smooth event .
Speaker 1It's crazy . There's probably three things you have to do behind the scenes for every one thing you do that people see and people just don't realize it . And then at the end , like there's prayer requests . You got to write it down , you set it to people so they can pray for each other , and so I I'm just reminded how much effort it takes to go into leading and coordinating things , cause you got to prep , you got to do and then you got to wrap up , and so there's literally it's three things for every one thing that people experience . And so hats off to you leaders , managers , owners . You do a lot behind the scenes to make the front of house look good .
Speaker 1I'll wrap it up with a with a quote that I once heard , and then I'll call it good for the day . But there's something . I don't know where I heard it , I don't know who the quote said , who said it first , so don't give me credit , but it's something along the lines of if you've ever been to a Broadway show and everything runs smooth , that's because everything was going on behind the scenes . And it's so true , the audience only sees the things when it's not going smooth . But the quote is yeah , just that
Today's Agenda and Financial Questions
Speaker 1If everything goes smooth , everything was going crazy behind the scenes , because that's exactly how it goes . So there's that . I'm off to the gym for right now .
Speaker 1Today is a pretty busy day . We're catching up with the attorney on how we should do our personal finances , the business finances , and getting that advice and direction . We got a couple follow-up questions for him , like should I get a side hustle ? Are we doing chapter 7, ? Are we doing chapter 13, ? Are we doing something else ? Do I , should I get a side hustle so that we can like bridge the gap in our finances ? Is there a gap in our finances we need to bridge ? Should we upgrade my wife's car that's got duct tape and like maintenance , delayed maintenance on it ? Do we tell the franchisor ? Do we tell the bank ? Do we tell the landlord ? When do we tell the members ? When do we tell staff ? Just all these questions about the business itself .
Speaker 1And then I've got my weekly one-on-one .
Speaker 1It's this week on Friday . Normally it's on Tuesdays but I got bummed out to Friday , so a little bit antsy about that , but praying it would go smooth . And then also just doing the Friday check-in with my head manager , interim manager , and , if he needs anything from me , tomorrow we're doing a fall festival event for members that want to go to it . So it's a pretty happening day and ultimately things will have a way of working itself out they always do and we're going to show up , we're going to be present , we're going to be engaged with where our feet are and we're going to enjoy every moment that we are living in . Whether it's easy or spooky , it's a moment that's not going to be repeated . So , even if we're facing down the barrel of bankruptcy
Finding Gratitude Amid Uncertainty
Speaker 1, the not knowing phase is something that will one day close .
Speaker 1Tomorrow onward , for the rest of our lives , we'll know how closing the business looks like . So we're going to enjoy the unknown , as tricky as that is right now . So pause right there , call it good for the day . It's only 710 right now , so there's still plenty of daylight to go , and I'd rather have my problems , my uncertainties , than millions of other problems and uncertainties . Right now , I'm blessed to have the life I have , the family I have , the friends that I have , and I'm so grateful for everything . That's where we're at , that's where we're going . Let's rock and roll .