Eric Coffey · Govcon Giants · The #1 Reason You're Losing Government Contracts (and It's Not the Vendor List)
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Recommends high-performing entrepreneurs buy existing franchises or businesses as a way to scale quickly.
“We came up with the hybrid business model… we got a patent… allowed us to enter into licensing agreements… we scaled quickly to 50 licensees… we had about $350 in the bank… franchise would cost about $300,000.”
“I think when finance isn't deeply embedded in the business, especially as you're scaling quickly, it makes more sense for it to sit in one place… having that remit and ability to see both sides of it and hopefully run them together.”
“We kind of used the public existing campgrounds, which were public data, as a way to bootstrap supply.”
“If you wanted to buy Palm, the best way is not to buy Palm itself, but to buy 3Com which owned Palm, getting the other businesses for free.”
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