Example Vision Plans

Below are several examples of vision plans. I am not suggesting this is the way to do something. These are simply meant to be illustrative.

Vision: Acquire 5 SMBs

What “done” looks like: successfully purchased 5 businesses and integrated them together.

Estimated time to complete: 8 years

Year 1 - learn about the space:

• Find 3-5 books explaining the process of buying and selling businesses.
• Develop informal relationships with 5 business brokers.
• Find 3 mentors who have previously acquired SMBs.
• Practice time management and prioritization.

Year 2 - practice:

• Get an internship role in a private equity fund that actively manages portfolio companies.
• Learn about various financing options available, and how much cash I will be expected to put to work for each.
• Practice doing informal diligence on 100 deal listed on b2b marketplaces.
• Read 5 books about marketing and sales tactics for SMBs in my niche. Offer to help one of the portfolio companies implement some of the tactics for free.

Years 3-4 - acquire and operate first SMB:

• Develop a deal pipeline of 100 deals, submitting proposals on 5 and buying 1.
• Implement operating plan on first deal. Demonstrate I can increase revenue and/or profitability to achieve financial outcomes.
• Read 5 books on being a good leader and manager.
• Learn how to implement systems and SOPs.

Year 5 - acquire second business:

• Learn what makes an attractive tuck-in acquisition.
• Source and acquire deal.
• Learn how to successfully integrate cultures, implement consistent operations across both businesses, etc.

Years 6-8 - acquire businesses 3-5:

• Source and acquire businesses.
• Begin identifying and grooming talent inside current operations to act as senior management team.
• Hire an executive team to manage operations of portfolio companies.

Vision: Become a board member of a non-profit

What “done” looks like: actively serving on the board of an organization I care about.

Estimated time to complete: 3 years

Year one: learn about what being a good board member involves

• Read 5 books on board governance, how to be board member, etc.
• Reach out to first and second degree LinkedIn connections who have board member in their profile. Ask to coffee.

Year two: get involved

• Join 3-5 nonprofit organizations as a member.
• Get involved in a committee
• Ask the executive directors to coffee to learn about the 3-5 year mission and how to help.
• Bring 3-5 new members into the organization.
• Attend fundraisers and donate.

Year three: make the ask

• Reach out to the exec directors about possibility of joining the board.
• Learn about the term requirements, if they have insurance, meeting schedule, obligations, etc.
• Help bring in one major donor.

Vision: Find and Marry a Loving Partner

What “done” looks like: an amazing, joy-filled wedding day.

Estimated time to complete: 5-10 years

Year one: become someone worth marrying

• Read 5 books on how to be more charming/attractive to others.
• Start working out.
• Meet with a therapist weekly.
• Save up 3 month emergency fund.
• Create 5 adventures for myself to get in the habit

Year two: meet people (no expectations)

• Join 5 meetup groups with people with similar interests.
• Create 5 adventures and invite groups of people on them.
• Get good at cooking - learn how to make 10 “go to” meals.
• Become a more organized person - have a clean and attractive home.
• Emergency fund up to 6 months. Max out IRA
• Continue with therapist
• Continue working out

Year three: practice dating

• Practice asking people out - get to 100 rejections.
• Practice creating exciting and fun first dates.
• Practice listening skills in conversations.
• Emergency fund up to 9 months. Max out IRA and 401k
• Continue workouts and therapy

Year four: practice being in a relationship

• Read 5 books on how to be a loving partner to others.
• Talk with 5 couples I admire on how to build a strong loving relationship
• Practice serving my partner.
• Practice empathy
• Create 5 adventures as a couple
• Emergency fund up to 12 months. Max out IRA and 401k.
• Continue workouts and therapy

Years 5-10: find the person

• Write down my non negotiables for a partner (no more than 5).
• Cast a vision for a loving, healthy marriage. Invite them in to help shape that vision.
• Practice proactive couples therapy.
• Continue workouts and therapy.

Vision: Achieve a $10M net worth via real estate

What “done” looks like: I own X properties that in aggregate represent $10M in equity (value - mortgage outstanding.

Estimated time to complete: 10 years

Year One - Learn about the space

• Implies I control $50M in real estate portfolio (assuming majority of net worth is in real estate)
• How much real estate would I need to have / control to achieve a $10M goal?
• Go find 5 books on the topic
• Research various real estate types - pros/cons/etc
  • commercial
  • land
  • single family
  • multi family
• Find a real estate investor who has a $50M portfolio (ideally in each asset class)
• Start attending my local RE meetup to meet other professionals

Year Two - Learn how to find deals

• Go and find deals
• Learn about the market I want to operate in.
• Practice doing diligence, running pro formas
• Start finding capital partners

Year Three - buy my first single family home

• learn how property management works
• Learn negotiation
• learn how to deal with tenants
• learn how to make property improvements to improve my asset value

Year Four - buy units 2 and 3Year Five - buy units 4-10

• learn how to outsource property management
• Find capital partners

Year 6 - 1031 into my first multi-family property.

• Learn how to improve cap rates.

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