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Use that “layoff" severance package to acquire a cash-flow business

Hey, Data geek.

Yesterday I just shared this story on LinkedIn about a close friend’s situation after being part of a layoff in October 2023:

In October, 2023; I was chatting with a close friend who unfortunately was part of a layoff in September 2023, and one thing I saw when I started to ask the right questions was that he was very "comfortable" in his job, and I know he is not the only one.

My questions were straightforward:

- Q1: Did you contribute something impactful to your daily job? A1: No

- Q2: Were you excited every day with your daily job? A2: No

- Q3: Did you ask for more responsibilities? A3: No. I just got my tasks, finished them (like a robot), closed my laptop at 4:00 PM (He lives in NYC), and went home.

After listening to all this, I told him a harsh truth:

"You have been blessed with this layoff, my friend:

❌ You weren't enjoying your daily job. You were miserable there.

❌ You were there for a paycheck. Nothing else

So, instead of being sad about this layoff, see this as an opportunity to do something you enjoy. I know you have dreamed about having your own business. Use your incredible severance package to buy a business, instead of building something from scratch. You will thank me later"

Today, I chatted again with him and saw a sparkle in his eyes.

Thankfully, he listened to me and implemented a plan for it:

✅ Moved back to Dallas, TX (His family is from there)

💰 Started looking for businesses to buy on BizBuySell and LoopNet

🗞 Found an amazing Paper Shredding business which is a cash cow and growing, acquired it using an SBA loan; and he is happier than ever because he has more time with his lovely wife and two kids

😱 Bought his dream car: ELEANOR ( A 67' Ford Mustang Fastback)

I'm so happy for him and his family.

This is why I encourage anyone to unfortunately who has been part of a layoff: talk to your peers, ask for help, chat with your parents, friends, your wife/husband.

You are not alone on this. Men: we are very strong on the outside but many of us, we are suffering in silence. You don't have to do it. Ask for help TODAY.

I didn’t share this story before because I thought at first that it was a bragging thing. But after chatting with my friend, he told me: “I am sure that you will help a lot of people out there sharing this”.

So here we are sharing all of it, except the name of my friend to protect his privacy. Let’s call it Kevin and I will share some of his advice in this process.

But what about if you want to replicate that? The main goal of this post is to do precisely that.

Disclaimer: This particular post is intended for people inside the United States.

How I would acquire a cash flow business in the U.S in 2024

Let’s divide this into two different paths here: the digital business path, and the boring business path.