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In today’s episode, we talk about the importance of knowing your timing if you’re going to build a business as opposed to buying a business. As part of this discussion, we review some of the processes and delays that have been a part of our own projects. These include lease reviews and approval, letters of intent, and slow contractors. We advise that you build smart contracts and make sure someone else is on the hook when projects run long. We also discuss the importance of anticipating problems during the first days of operation.

-Intro: Timeline for Building vs. Buying and Keith’s Status With His Businesses 0:17
-Delays in the Salon Suites Project 6:47
-Delays in the Laundromats Project 8:39
-Problems in The First Days of Operation 14:34

“It’s so frustrating but it also is something that you just absolutely need to anticipate when you’re in this process so that you don’t end up getting yourself in a position where you’re three quarters of the way through a project and you run out of money.” 8:55