Back from Bankruptcy | I tweet about babies and business. | Acquired 4 businesses for $3.8M | Christian Father
West Palm Beach, FL
Joined April 2010
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Here's the timeline towards bankruptcy:
HINT: Don't do this. Give your lessons time to simmer.
Mar. 2019: Quit job at Facebook
May: Joined largest client
Sep: Got fired
Oct 2019: Went down Warren Buffet rabbit hole. The idea of Impact Industry was born.
Jan 2020: Found search funder community (should joined Twitter)
Feb 2020: put together documents to buy a business.
Mar. 2020: COVID happens E-commerce blows up.
April: Start taking on new client's full time at Impact Industry marketing.
May 2020: Have second child
August: landed first 5-figure client.
October: Go under contract to buy first company.
2020: Impact Industry Marketing: $250K Rev.
Feb 2021: Close $1.2M deal for e-commerce furniture store. 10% down 10% Seller Finance. 6.5% interest. Agency at $35K MRR.
Mar 2021: Freeze in Texas, main foam chemical supplier looses power. Massive foam shortage in industry. Lead times go from 14-16 weeks to 28-32 weeks.
Apr. 2021: Everything going as planned.
Aug 2021: Cracks start to appear in E-commerce business we bought, things are softening google traffic down.
September: Agency hits $60K MRR.
October: Go under contract for $2.6M on two furniture delivery businesses.
End of 2021:
E-com closes at $1.2M
Agency closes at $562,000
Jan. 2022: Bring on a biz partner, this was the beginning of the end for me.
February 2022: Transaction closes for $2.6M, 10% down, 0 seller finance.
Now there are three businesses and I'm trying to spend time in each.
March 2022: Biz partner gets really sick, loses control over his life, but still tries to work.
April 2022: Lose $750K account.
May 2022: Demote General Manager.
June 2022: Accounts receivables balloon from $150K to $600K. Should have died here as we didn't have enough working capital.
July: Heavy customer concentration is starting to form. went from 10% to 50% of the business as we grew the account. Didn't support with enough additional sales.
August 2022: Shipping business needs full attention but we now have a floundering ecommerce website, the agency is still humming but starting to see cracks. Interest rates rapidly rising.
September: Land a public company as client after working on them for a year. Mid 5-figure monthly contract.
Nov. 2022: Biz partner no longer can work, given up a lot to him. Have to pivot and put someone else in place.
End of 2022:
Agency: $775K (Covered losses and expenses)
Ecommerce: $775K (Huge Loss)
Delivery Company: $5.7M (Serviced over $300K in debt)
January 2023: Interest rates continue to rise, servicing about $40K a month now soon to be $45K by summer.
February 2023: Major cracks are starting to form in all businesses. I don't have enough time to fill them and resources are getting constrained as i've had to personal supply working capital into shipping biz.
March 2023: Things feel stable at shipping business for once but Ecommerce is getting into a cash crunch as overall demand as slowed. Churned a couple of clients on agency.
June 2023: -Lost our largest client at the agency
-Largest shipping customer owes us $400K and contemplating bankruptcy.
-Ecommerce sales almost non existent.
July 2023: We reach an agreement with shipping customer and get paid a large amount.
-Agency loses all revenue and employees
-E-commerce continuing to suffer.
Third child born.
August 2023: Mitchell Gold Bob Williams shuts down. Owes us $400K, Other businesses cease to exist at this point.
September 2023: Working with bank to liquidate. Have a little over $2M in personally guaranteed loans.
Monsters Inc is coming true
Introducing Hugo: the first human companion robot.
At Boston Dynamics, I was Chief Strategy Officer, bringing robots into the real world.
My co-founder, Farbod Farshidian, led research at the RAI Institute.
Together, 15+ years teaching robots to run, jump, and work.
So we asked: what if robots could connect with people?
Hugo runs on the first Vision-Language-Expression (VLE) model.
He links what he sees and hears to movement, expression, and gesture.
He notices you, reads the room, and reacts in real time.
And he's only the first.
Dynamic Creatures is @BostonDynamics' official entertainment and hospitality partner.
We're building a cast of characters with film studios, resorts, and theme parks.
dynamiccreatures.com
Hunter Durham - West Palm Beach retweeted
This was a great event, and awesome to meet so many cool folks from the area. Thank you @huntercdurham!
Why not Palm Beach?
Last night at Palm House for the Why Not Palm Beach? kickoff—thanks to @huntercdurham for putting it together.
The room covered a lot of ground: space and aerospace, energy (including nuclear for AI and defense), robotics, AI, tech, fashion, sports marketing, even a padel facility, and more. Operators and builders who are actually here doing the work, not just flying in for the weekend.
Refreshing to see Palm Beach County attracting this mix of talent and ambitious people. The lifestyle and capital were always here. The depth across industries is the new part.
Hunter Durham - West Palm Beach retweeted
Why not Palm Beach?
Last night at Palm House for the Why Not Palm Beach? kickoff—thanks to @huntercdurham for putting it together.
The room covered a lot of ground: space and aerospace, energy (including nuclear for AI and defense), robotics, AI, tech, fashion, sports marketing, even a padel facility, and more. Operators and builders who are actually here doing the work, not just flying in for the weekend.
Refreshing to see Palm Beach County attracting this mix of talent and ambitious people. The lifestyle and capital were always here. The depth across industries is the new part.
Facebook Portal was just early
But it honestly changed our lives.
My kids would talk to grandma almost every day.
Color, read books.
No surprised this came out and wouldn’t be surprised if Facebook Portal came back
I left West Palm after working with Dell, Microsoft during college and then eventually Facebook.
It’s fun to think that the next ambitious kid that graduates from my school stays here
/Startday - beep boop beep boop *Robots Working*
12 Jobs on the calendar today
8 Upsell opportunities
5 Employees on the schedule
3 Jobs need attention
Boom you're ready to start your day!
Shoot me a message and I'll give you this skill for your AI tool.
If you want to get better at your numbers, we are taking on 3 more clients this month.
We aren't a pure marketing team that's what @irentdumpsters and team is for!
We supercharge their efforts, by giving you the data you need to operate effectively.