$5 Million Biz or $5 Million Cash?

This was the question the lawyer asked at dinner after the Ziggy Marley show on Tuesday.

Besides him, there were five more of us.

The turkey farmer.

The lighting designer.

The general contractor.

The P.A.

And me.

A common thread ran among us: we'd spent most of our working lives self-employed.

The lawyer, who'd recently changed careers, raised the question and everyone answered in unison, "I'd rather have the cash."

They'd rather have the cash and not have to run the business and take care of all the hassles that came with it.

Not me.

I'd rather have the business, although that comes with an essential stipulation: it has to be a business, not a job.

--> Business Vs. Job?

Back when I first got my real estate license, when people asked what I did, I'd answer that I had a real estate business.

It took me nearly 15 years in that business to realize it wasn't a business at all.

It was a JOB.

It was a JOB because:

-- The income was 1:1 and directly proportional to my partner & I's working hours.

-- Hiring someone to manage us would not increase productivity or income, nor would it reduce our working hours

-- We couldn't sell it. When we closed "the business," there was nothing to sell. Without my partner and I, there was no business to speak of and, therefore, nothing to sell.

-- In short, the "business" could not run itself and make money for us in our absence.

With those criteria, I'd also take the $5M in cash.

But what if I'm getting a $5M BUSINESS that:

--produces income that exceeds a 1:1 ratio with my time (like how Uber makes money from all the drivers)

--allowed me to hire people to manage employees who make money for the business (like how Target has cashiers)

--could be sold for a profit if I wanted (like how Moiz Ali sold Native to Proctor & Gamble for $100M two years after he founded it)

--in short, could run itself and make money for me in my absence (like how Bezos gets paid on Amazon while he's sleeping)

With that stipulation met, I'd take the $5M business all freakin' day.

Then scale it.

Then exit.

That's the kind of business I need for Ten Ten Ten.

With Optivīv, Julia's goal is to help people live better.

Me too.

But I have another goal as well.

Since nobody is going to give me a $5M business, I only have one choice.

Build it.

While Julia & I are in Yellowstone, the [currently very small] staff at Optivīv will be here running IVs.

By this time next year, we'll hire a practice manager.

Then practice can run with minimal day-to-day input from me, allowing me to focus on the next location.

At that point, we'll be on our way to having something worth being acquired.

And, who knows, maybe a $5M exit?