Stephen Olmon
@stephenolmon
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Following
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Media
2,093
Statuses
20,612
I start, buy, and invest in businesses with friends. I also advise a handful of young companies. DMs open.
Joined December 2015
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Pinned Tweet
When someone tells me they are leaving their W2 to start or buy a business
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@marshal
Congrats, I’ll be getting one soon too.
The comments show so much stupidity lol, and also I’m guessing 90%+ of the negative comments are from unmarried bros that don’t have any kids haha
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A hilarious reality: Rich spouses bankroll their partner’s pet project which loses money every month
We’re mainly talking clothing, kids, and pet-related boutiques in expensive retail areas with high median income
You walk in, quickly walk out, and ask “how do they stay in…
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Power moves only at the airport this am
Starbucks line of like 40 people 20 mins before flight, walk up to this lady that’s 3 back from ordering
“I’ll pay for yours if you’ll order mine”
Had it in 5
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@chris_herd
@datarade
Those companies deserve to suffer the talent drain.
It’s not “play by our rules” anymore.
More and more, companies must start viewing themselves as a service provider to talent, breaking the traditional model of employment.
HR teams shooketh
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Added another lady to the squad last night, baby 3 Merit Mae Olmon arrived at 3:20am and we’re all good.
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Still on the top row, but whew that’s heavy...and a good reminder.
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💥Major Milestone💥
After a few offers and ~12 months of looking at deals (all proprietary), I finally bought a business! 1 down, *many more to come.
I'm really excited about this business and the existing team members are great. Read below to hear the whole story.
👇
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There's a lot of talk on Twitter about buying $5mm businesses, but what if you wanted to buy a $50mm business?
Here's a breakdown of how that works 👇
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Probably about once a month I remind myself I’m going to die and none of this business stuff will matter
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Hey, I (we) bought a business!
————————————
Earlier this year I partnered with
@TXAlarmGuy
to acquire a 30+ year-old security, fire, and alarm co in Houston called Alarm Masters.
We expect to achieve a multi-8 figure outcome in the future and I’m confident in our approach.…
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10 years of marriage today!
10 things I believe now more than ever:
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Just saw a guy shoot his shot at a local coffee shop. I was v nervous for him, he was prob a little out of his league…but
Phenomenal conversationalist - he was comfortable, asked a couple sensible questions, and didn’t linger
Well executed Dave! Best of luck ha
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@pyrtbilly
Greatest comeback since the QR code, I’m here for it.
I think if you did a daily / weekly video on finances it would be killer - projected costs, ticket sales, logistics etc
Let people buy in to you doing this the right way
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On friendship:
We had our daughter’s 3rd bday party this weekend. Many families came, which included about 15 children.
My aunt came up to me afterwards and said “You know, y’all are really fortunate to have the friend group you have.”
I politely agreed with her.
But..
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Sorry for the ramble, here it goes.
Noticing a trend of young founders where their charisma / hustle / network gets them to $20-$50k / mo with *some profitability
Mostly services / agency
And they can’t lead their way out of a box…they aren’t leaders. They don’t manage
1/x
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There are experts in nearly every industry on Twitter with less than 2k followers and many are highly accessible.
Reach out.
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I’ve said it before…but factually some 20-30-40k accounts on here make very little money
And then you’ve got some dude with 9 followers and no bio making millions a year
And that fascinates me
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**Newco announcement**
Pre-Cleaning Cleaning LLC
We tidy up your home before your actual cleaners arrive
We have partnered with 8,492 husbands across the country in an effort to grow market share quickly
We expect to do $100mm in EBITDA next month
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A 22 year old dude knocked on my door this evening, tried to sell me on solar. Had just moved to TX.
I let him pitch.
I then was very direct with him that I wasn’t a customer, but leaned in and told him that I thought he had real talent. Killer communicator.
I then told him…
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Gross revenue isn’t what you “made”
Gross revenue isn’t what you “made”
Gross revenue isn’t what you “made”
Gross revenue isn’t what you “made”
Gross revenue isn’t what you “made”
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34 today.
So grateful for my life, my wife, my children, my parents, my friends, and my business partners (who are much like family).
I’ve started to think a lot about the concept of “halftime” recently (hopefully not there just yet) and about legacy.
Time stops for no man.
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that he should start or buy a biz after he gets 1-2 years of solid experience.
He has the “it” factor.
Always so fun to interact with people before they hit their own personal hockey stick.
Good luck Gabe!
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Got a knock on my door at 8:20pm - a 13 year old wanted to wash my car.
Good communication, 2 price tiers, and some add-on options.
Cash or card.
I gave him one suggestion, which he acknowledged would help him.
I also nearly teared up haha, so impressed by my new friend.
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These 2 visuals alone are worth gold to inexperienced acquisition entrepreneurs
Thanks to
@chrisxmunn
+
@bentigg
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My name is Stephen and I DO NOT agree that EOS consultants deserve $6k / day rates
I am prepared to die on this hill
That’s $1.5mm annualized
No
They aren’t *that valuable
You can convince yourself they are..but they aren’t
Bring it on in the comments
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I tend to believe your net worth is higher the more your family looks confused at a bday or holiday gathering when you explain what you do
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Alright so I’m thinking about rolling up title companies in tier 2/3 cities - don’t @ me
1) Buy from the boomers
2) Slap on the automation
3) Print the money
…right?
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Simple Twitter Truth
The 40-something year old with 122 followers that says “real estate and private investments” has a way higher net worth and more important things to say than the 20-something that tweets 17 times / day and has 10k followers
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I know some of y’all aren’t gonna like this but…hot take
You should have kids
It totally sucks (sometimes)
And it’s so worth it
And yes, to each their own
But…it’s the best
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The last boss I ever had told me during my first week at work that “we don’t celebrate closed deals until we have ink on paper and money in the bank”
That perspective has served me well
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Howdy there - my name is Stephen and I’m Building 50 Companies by 2050. Or maybe 29. Or 137.
It’s simply a north star that gets conversations going.
So…welcome to
@SeveralVentures
- let me show you around.
👇
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I’m shutting down a business that’s done nearly $250k in gross revenue. Woof!
That line tells a story. Let’s dive in👇
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Today in hilarious small biz
“I forgot to tell you guys about a guy that called me yesterday that needs insurance. Buys golf balls from whoever digs them up from ponds or whatever on golf courses. As an example 2 kids pulled 12,000 golf balls in one night from one golf course…
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Approved vendors list
——————————
@thecodycarnes
- Cold Email
@roasdepotwill
- Meta / LI ads
@HeySamPreston
- PPC / SEO
@ImSamThompson
- Websites
@hijohnluke
- Design
@ConnorAbene
- Frac CFO
@BrianFOConnor
- Frac CMO
@FathomJeevan
- Frac CTO
@DylanAnder
- CRO
@mrtrash757
-…
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@realEstateTrent
A real estate app where you swipe left/right on lenders
We’ll call it…Linder?
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My dad always taught me that if you don’t ask, the answer is inherently “no”
I can’t explain how much this simple truth has benefited me in both business and my personal life
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Things I hate:
When people proactively lead with / mention / hype their MBA
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I’m 33.
Lately I’ve been pursuing friendships with guys 50+ and I’ve really enjoyed that.
I have a good relationship with my father, but it’s just kinda diff in a biz-oriented context of friendship.
I wouldn’t label as mentorship necessarily - am I weird?
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Fun news!
Under LOI on my first acquisition in a JV with
@ConnorAbene
- will share more details in the coming weeks, but excited to finally be on the buy side.
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I unapologetically turn most business relationships / conversations personal
If you’ve talked to me in the last few years, you probably experienced this
I find business alone to be an insufficient use of time / relationship
I don’t necessarily force the conversation to…
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@dannykanell
I like the skill stuff more than the actual games (ie 3pt, dunk, derby, skills comp)
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When you have young children
You take trips, not vacations
IYKYK
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A good friend is getting a big boy check via wire this week, biggest of his career
He called me only to talk about how he wants to give a portion of it away, zero gloating
Refreshing / healthy
“Money is just a tool”
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🏢 🏢 🏢
It’s happening - a shared office with some stellar humans!
@ConnorAbene
@KHendersonCo
@JoshWomack
Welcome to the SMB Lounge
AND?!
We’ve got exactly 1 more spot and are looking for the perfect person in DFW to join the squad.
Please RT for visibility - DM me if…
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A new (temporary) pinned tweet as of 2/24/24
The next 60-90 days of my business life are going to tell me a lot about the next 2-3 years
-Big (and somewhat risky) strategic changes in businesses
-Exciting partnership launches
-New hires will prove their worth (or not)
-Big…
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We have sacrificed for one another - it’s called friendship.
We are very fortunate, but we aren’t “lucky”. It didn’t happen by accident.
Years of intentionality were on full display, and *that is what my aunt actually saw.
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For anyone interested in
@HoldCoConf
I'll be adding takeaways / soundbites in real-time from both 1-on-1 conversations and the main sessions etc
Follow along below
👇
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To all my entrepreneur / self employed friends!
1) Pay your outstanding 2021 tax burden today
2) Pay your first 2022 quarterly today
3) Cry
4) Remember it’s worth it
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Overheard today:
“Don’t trade providing a certain level of lifestyle for your family for your actual family”
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So, if you haven’t done so already..
-Complete your entry at
-Share with your friends
-See who wins on 12/19!
If you think this is cool then I would REALLY appreciate a RT / like / comment
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I don’t think many people realize entrepreneurs can be super successful without “an exit”
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This is why we started the
#SMBLounge
in Dallas
Friends in town dropping by, eating bbq, sharing stories, *and taking over our space for podcasts ha
Super fun!
@SMB_Attorney
@KHendersonCo
@RegZeller
@joshuamschultz
@MillionairesPod
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I try hard to keep biz travel to a minimum because I’d rather see this face in person than through a screen
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Today is a BIG day for me.
TLDR - a new business partner + a dramatically expanded vision for my longest-held portco
To understand why this is such a big deal for me, let me share a quick piece of history.
My first business partner ever was
@HeySamPreston
We started a…
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Monthly local RE group, year 2 starting tonight. Has been a great addition in my life.
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My best man’s father died today after a fight w/ cancer
He was in his late 50s
Spend time with your loved ones
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Bullish on this model for the next 5-10 years
Done-for-you services
+
Affordable pricing
+
Transparent communication regarding the use of AI
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A friend has raised both a $11mm and $25mm fund separately. On his own. Texts, calls, emails…in a few weeks. I won’t share asset class / purpose etc.
I recently asked “Why not go bigger?”
He said…
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Reflecting on
@MainStSummit
—————————————
When I was in Columbia I had a chance to swing by the PE office with some of the team - they were very kind to have us by (shoutout
@keliemorgan
)
When I walked outside and back towards the atrium I turned to my friend and said
“This…
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HUGE PET PEEVE
Your website footer doesn’t show current year
Slays my soul
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Twitter will be fine.
Twitter will be profitable.
They had MASSIVE employee bloat.
@elonmusk
is smarter than you.
He could have done this better.
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I am really happy with my life and things in business are going well
That’s the update
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Like this tweet if you’re going to
@MainStSummit
Want to hang!
If you’re not going, whyyyy tho
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My 3 yr old son just said he “loves me more than the earth and the sky and the stars and the rocketships”
Life is good
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Since The Squeegee God himself put me on blast…
Here’s the quick list of companies / projects I’m involved in + a few on the horizon
Can every person who owns multiple companies do a thread like this please?
Super fascinating.
@stephenolmon
is the first person that comes to mind. 👀
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Just made my 4th investment this year
1 pre rev, we’ll see..
2 early rev, still super bullish on both
1 zero rev and ~$200mm valuation, lol
As unbiased as possible, I do think 3/4 hit
Time will tell!
Does this interest you? Should I talk more about these?
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My wife and I paid off over $120k total in student loans in about 3 years
I paid off 20k of mine before we got married, and we finished the rest together
We kept $2k to our name, no CCs, and by the time I was 25 and she was 23 we were debt free, including cars
No one…
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After much patience,
@ConnorAbene
are finally pursuing our own curated office space in (north) Dallas.
We are inspired by a few friends that have similar concepts, especially
@girdley
’s spot in SA.
So, what’s the point? 👇
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I don’t tweet stuff like this often, but I gotta say…
It feels very good to prove someone wrong who didn’t believe in you
:)
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My wife just let me know she deleted my newsletter and didn’t even open it
The amount of humility bestowed upon me is immeasurable
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Alright so I ordered 24 more and 6 are spoken for
If you want one, please DM with preferred shipping address (US only) - I expect photos posted on Twitter if you’re joining the gang
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