I Make $50M/year Buying & Running Boring Businesses
About This Episode
Brent Beshore, founder of Permanent Equity, explains how he built a portfolio of 'boring' businesses that generates $50 million in annual free cash flow. He discusses his unique debt-free investment philosophy, the concept of 'stacking geese' for compounding wealth, and why psychological profiling is the secret to finding great operators.
Episode Description
Show Notes
- 0:00$50K/yr to 9 figures
- 6:04Accidentally buying a $1M business for $0
- 11:06Just In Time learning
- 14:11Buying cash flow businesses
- 20:30Private equity or index?
- 24:26Buffett's near-death experience
- 32:54How to buy your first small business
- 36:02Brent's one-liner speed run
- 47:33Shaan asks Brent how to hire a CEO
Check Out Shaan's Stuff
- Shaan's weekly email
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- Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies!
- Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC
Check Out Sam's Stuff
Key Takeaways
Adopt 'just-in-time learning' to master complex business concepts like due diligence and working capital only when they are immediately required for a deal.
Prioritize an unleveraged capital structure (no debt) to maintain maximum optionality and the ability to grow aggressively during market downturns when competitors are constrained.
Evaluate potential leaders using psychological frameworks like the Enneagram and observational 'asshole tests' to ensure their character can handle the messiness of human-centric operations.