Yeah, so my. The. I own practices in cities and states in which I do not live in at all.
Acquiring Minds
Buying to $4m Across 7 Sites in 3 Years
Excerpts · 636 segments · ~1:56:00 long
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Right.
And so you wanted this.
This was something. Not a flaw. This was a feature.
No, this is a feature. This is on purpose for two. One specific reason.
I did not want to be able to drive in to the practice or the. My. The business that I bought and start to run it. And I think even listening to your show and hearing what a lot of people who buy businesses talk about is a lot of the stressors are like somebody quits and they have to jump into the role of the main producer of revenue.
And so I knew that I needed to be able to buy something in which if something happened, I had set up enough tools, enough systems and processes that we could fill the gap of what produces revenue there. So that means it could not be where I was. So I obviously. So I could not jump into like the front.
An easier one would be the front desk. Obviously I could not or I wouldn't have the time to go to school and go get a doctorate in audiology. Right. But I don't want to have to jump in and be the front desk person answering phones or doing any of those things at all.
So. So to be clear, you wanted this physical distance as, as a boundary because you didn't even want the temptation to be there to get sucked in. I mean, we all want a business that runs itself. But it sounds like you were going out of your way to make it a little bit harder on yourself to go solve problems physically so that you would have kind of the.
It would force you to build infrastructure so that in fact you do build. Build a business that doesn't need you.
Exactly. I mean, I thought about it from working with Procter and Gamble, like if you work on like a Bounty or Downey or any of those things, like it's. Maybe the team is in Cincinnati, but I'm sure that less than 1 or 0.1% of the businesses in Cincinnati, Ohio. So if it's not on the shelf, like what are you going to do?
Fly to Kansas to go put it on the shelves? Like no. Right. You need to have the team in place for that.
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