Take Five #030: The most straightforward way for anyone to become a millionaire, and more
Five takeaways we loved at Kumo this week
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Before we jump into our Take Five: we’ll be at the Booth-Kellogg ETA Conference tomorrow (October 25th)!
If you’ll be there, swing by our table and say hello 👋
We closed on a deal last year so we know how frustrating and grueling the process can be, which is why we built Kumo: a deal aggregator that combines deals from thousands of brokers/marketplaces into one platform (currently we have more than 120,000+ deals.)
With Kumo you can:
Browse 100,000+ deals from hundreds of brokers and every major marketplace, with 700+ unique deals added daily.
Save time and stop reviewing duplicate deals. Kumo matches identical deals across hundreds of sources so you can view unique business opportunities, even if they’re slightly different across different websites.
Get a daily or weekly summary of deals that match your search criteria
Take Five #030: The most straightforward way for anyone to become a millionaire, and more
1. The most straightforward way for anyone to become a millionaire with a Personal Holding Company
2. 150 episodes of Acquisitions Anonymous 🎉 and lessons learned
3. What to expect when raising for a search fund
David LaMore is back again with a super practical, detailed dive into his specific process for raising for a search fund. Here’s an excerpt of his PPM (private placement memorandum) template that he sent out to investors:
For more practical guidance on the matter, here’s a version of the initial email I sent to investors:
Hi [first name],
I hope this email finds you well. I am excited to share my PPM with you and the rest of the [investor name] team. Please see attached for a final copy.
Here are a few highlights on my search:
The search fund name is White Cedar Company
Raising $XXX,XXX for 24-month search; # units of $XX,XXX
Looking for ~#-# different investor groups in total
Industry-agnostic search; however, the initial industries of interest are [insert industries here]
The full launch date is [month year]; [short sentence on how I planned to utilize my time before my launch date]
Would you please take a look and let me know when you'd like to connect to discuss further?
I look forward to hearing back. Let me know if you have any questions.
Best,
David
My common response after the initial email was that the investor would take a look and follow up in the next few days to schedule a call. From there, the process kicked off!
Process for fundraising by David LaMore
4. How to REALLY interpret a balance sheet
5. “At the end of the day, PROFITS are an opinion. CASH is a fact.”
A 20-tweet masterclass on PROFIT vs. CASH in your SMB by @10kdiver:
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