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  1. Shonuff

    Adventures with lyrical - buying a business

    LOL, U.T. gives more C"s than your program gives B"s. We didn"t have + or -, it was A, B, or C. And the distribution was like 15% A, 70% B and 15% C. There was no mercy towards this, it was a forced curve. I remember I was close enough to get an A- (like a point away), and ended up getting a...
  2. Shonuff

    Adventures with lyrical - buying a business

    Maybe I"m not making myself clear, U.T. hands out C"s like candy in the core classes.
  3. Shonuff

    Adventures with lyrical - buying a business

    Funny, I was under the impression by talking with people from other schools that U.T. was one of the only schools in the top 20 that had a forced curve. And thats from talking with people at other top 20 schools. There"s really not much difference between most students at this level, and its...
  4. Shonuff

    Adventures with lyrical - buying a business

    AA is tangential to this thread. I"ve always been better in the metrics I was measured in by my co-workers (hence the getting promoted every 1.5 years), and I got mostly A"s that I took from my white classmates on a forced curve, and now my income is way higher than my classmates. Race...
  5. Shonuff

    Adventures with lyrical - buying a business

    And how often is that actually enforced? You have schools like Harvard that give like 90% A"s.
  6. Shonuff

    Adventures with lyrical - buying a business

    Before this thread starts going down the path that everything was handed me for AA, I was already a Junior Exec with a direct responsibility of $200m in revenues at the corp I worked at. I had like ten years experience and five to six promotions compared to some of my white classmates that tried...
  7. Shonuff

    Adventures with lyrical - buying a business

    I suck, and always have sucked at standardized testing. I just find it so mind numbingly boring and useless. Anyway, I got in with a 700, but as the Dean said, work experience and references can offset it. In my company I worked for, I was aready at exec level (even though the pay was like 90k...
  8. Shonuff

    Adventures with lyrical - buying a business

    If the demand were higher to the point the market could support a natural food store the size of Walmart, I"m sure Whole Foods would be doing it. But right now, their small stores and presence are all that there is a demand for.
  9. Shonuff

    Adventures with lyrical - buying a business

    Thats changed because so many people were fudging, that the IRS now requires a giving statement.
  10. Shonuff

    Adventures with lyrical - buying a business

    I"m pretty sure I give away an abnormally high amount of charitable deductions in my industry, but the owner before me believed that "paying it forward" always brought him more business later. He always gave away a ton.
  11. Shonuff

    Adventures with lyrical - buying a business

    How do they justify their labor on that? And then they ignore the businesses that have two-three million in revenue, from my experience those are the biggest cheaters (even on a % of sales its way higher). I don"t know anyone at this level thats been audited. To be honest, alot of these small...
  12. Shonuff

    Adventures with lyrical - buying a business

    Its pretty commonplace in the U.S. As a matter of fact, I don"t know of one business owner with totally clean books, everyone I know hides it, and hell, will tell you how the hide it over a few drinks. The IRS has the rep of not even looking at people"s books for people that have been in...
  13. Shonuff

    Adventures with lyrical - buying a business

    At no point did I say I evaded taxes. The Mercedes might be borderline, but what could the IRS do even for our a/v setup? The local place we bought our a/v stuff has corporations and small businesses that do this all the time, buy higher end stuff, and expense it 100%. And so I"m not...
  14. Shonuff

    Adventures with lyrical - buying a business

    Assuming you are directing this post at me, I don"t care about unstable personalities. We have a valid argument for every expense, and I never said I took cash out, I"ve said I"ve had owners claim to me that they take out in excess of one million in cash tax free on an annual basis. I wasn"t the...
  15. Shonuff

    Adventures with lyrical - buying a business

    I"ve already looked at the rules, and have no fear of the IRS.
  16. Shonuff

    Adventures with lyrical - buying a business

    Funny, I thought you worked for SOE awhile back. We are prepared to defend ourselves if it happened, but that doesn"t happen, and the penalties are so low, who cares? I"ve known business owners pulling out in the magnitude of millions and the IRS just is not enforcing anything. The guy who...
  17. Shonuff

    Adventures with lyrical - buying a business

    No, I don"t play on it anymore, seemed a little too decadent for my tastes. I used to play L4D on it alot, but then I thought about running down my bulb on the projector. Like most people that have high end movie theatres in their home, they tend to use it only on special occasions (sports or...
  18. Shonuff

    Adventures with lyrical - buying a business

    So, here we go. Below is where we are, but its not the only stuff we pull out. Everything"s been cleared by the CPA, the only thing that is a grey area is the Mercedes, but we are prepared to defend that (like the IRS ever actually audits anyone LOL). I don"t even get crazy with what we do, I...
  19. Shonuff

    Adventures with lyrical - buying a business

    So, I just did an analysis for a bank our personal income. We are looking at re-financing some of our vehicles, and they claim we don"t have the income. So now I"m having to show them all of the stuff the business pays for on our behalf. When I worked for corporations, I was always told that...
  20. Shonuff

    Adventures with lyrical - buying a business

    And I"d agree with this hesitantly, only after many discussions and counseling. Alot of us are saying to talk about this beforehand and ignoring the fact that the guys asking advice are already married. Anyway, thankfully, she came over to my side and its solved.
  21. Shonuff

    Adventures with lyrical - buying a business

    The neighborhood we live in is full of doctors who all have their kids in private school. We, instead, opted to move to the area with the best schools, and even though the cost of living is expensive here, the schools are rated the best within 50 miles regarding public schools. My parents always...
  22. Shonuff

    Adventures with lyrical - buying a business

    OneOfOne, I"ve already said it, Ive asked her about it, but now that she"s gone from the poor house to a 5k sq ft house in one of the best subs in the area, and has money, she says it was worth it. That"s just what it took, alot of financial discipline on both sides, and she knew it and agreed...
  23. Shonuff

    Adventures with lyrical - buying a business

    How is everyone equal when one person is paying all of the bills and paying for the retirement and the other person is spending money on every frivolous thing in sight? I"d be to the point of divorce if I was the only one contributing to the house. This stuff should be hashed out before you...
  24. Shonuff

    Adventures with lyrical - buying a business

    And if I was paying all that crap plus saving for retirement, thats when I"d pull her aside, have a family meeting, and tell her I want her to be more a partner, and that she needs to show me something and start participating. I"ve done it in the past, so what if she gets butthurt.
  25. Shonuff

    Adventures with lyrical - buying a business

    Pretty much the less money you make, the more militant you have to be. I started out making $10 an hour like everyone else, although I still was able to invest 5% of my income back then. Now I don"t have to be militant at all, since my income has probably gone up ten times since I got out of...
  26. Shonuff

    Adventures with lyrical - buying a business

    Damn forum ate my huge ass response. Stuff like the above post is why you discuss this when dating and also watch to see how they spend money. We talked about saving/investing, she agreed she wanted to do it, and then we got married and I started getting her overdue credit cards. She came from a...
  27. Shonuff

    Adventures with lyrical - buying a business

    60% is sweet, I"d definitely pump up the 401k to 10%, or more. Its all tax deductible. You might also consider an IRA (check the rules about that). I"d stay away from individual stocks for now until you develop a good financial base to your portfolio, you can make alot of money or lose alot in...
  28. Shonuff

    Adventures with lyrical - buying a business

    That"s a very good point that shows you are discerning. The book does go to extremes to make this point, but if you missed it, I don"t know what to say. Every raise I got was knocked back to paying down debt, investing and saving, it didn"t go to bigger stuff. At one point, the only debt I had...
  29. Shonuff

    Adventures with lyrical - buying a business

    As an update, we are having the best Winter we"ve ever had. I spend a ton in advertising, its paying off. We worked every day in December, and we"ll work every day in January with our current backlog. That"s unheard of in this industry, but I made like 30 changes to our advertising that I...
  30. Shonuff

    Adventures with lyrical - buying a business

    Yup, although we went to the extreme. I did what Kiyosaki said, when I got raises, I didn"t go out and buy a bigger car and house (with bigger payments), I just saved and invested the excess. When I was making $85-90k a year, I still lived in the same house that I lived in when I was making 30k...
  31. Shonuff

    Adventures with lyrical - buying a business

    So update, we are just about booked until the end of the year. We have $51,400 in backlog, last year at this time we had like 8k. I fully attribute it to the new advertising, we are spending $4k a month versus $700 a month at the same time last year. This is traditionally the slowest time of...
  32. Shonuff

    Adventures with lyrical - buying a business

    I"d fire them on the spot, we cater to wealthy customers, and they are so finicky that if it happened on their property, they"d never use us again. They might get into a fight after work and off the clock (thats happened), but they know better. We also use alot of special and high end equipment...
  33. Shonuff

    Adventures with lyrical - buying a business

    In the midwest county we live in, getting in a fistfight usually ends up in an assault and battery charge, and they"ve put people in jail for over a year for it. You get in a fistfight here, and you better run.
  34. Shonuff

    Adventures with lyrical - buying a business

    My best workers are in a family, I have no problems laying off the ones not hustling. I don"t care about the backlash, if I am going to lay off a family member, I tell the others why I did it, and then let the chips fall where they may. If its not addressed, they see it as a sign of weakness.
  35. Shonuff

    Adventures with lyrical - buying a business

    LOL, started my week with a ton of emotion from my manager, who came to work late, complaining about his home life. He said his family is falling apart (due to his wife"s ex husband getting strung out) and he"s having a hard time focusing. Since he"s been in charge, things have gotten better...
  36. Shonuff

    Adventures with lyrical - buying a business

    That"s pretty big balls talking to your boss like that. Anyway, raises do happen when they are on freeze, I got a raise awhile back at my old company when everyone else"s was on hold. It can still happen, its just the odds go down now. And on the flip side, you can still be thankful you have a...
  37. Shonuff

    Adventures with lyrical - buying a business

    Like with any self-improvement book, you have to implement the stuff that will help, and throw out the rest. The book does spend an inordinate amount of time talking about paw"s. We have a six year old and one year old, and the lectures have started already. The person who I bought the...
  38. Shonuff

    Adventures with lyrical - buying a business

    We don"t pay a referral bonus, they guys need to make $2,250 per crew per day or they lose their job, so they are going to find the best guys to help them hit that quota.
  39. Shonuff

    Adventures with lyrical - buying a business

    Gonna continued to put pm"s out there in anon form, I get asked the same questions over and over again, plus I feel this one is important. My wife wasn"t ready when we were dating, but I told her about my goals. I"m not going to say my goal was to be a business owner at that point, but my goal...
  40. Shonuff

    Adventures with lyrical - buying a business

    There"s no way to get it down to a science. People see/hear about us on radio and billboard everyday in the city. I think between the traffic count and radio count, its something like 200,000 people a day. They see us so much, but with brand advertising, they only call when they need us. Then...