Adam E. Coffey

That's just kind of a fundamentals of how businesses ran by Geno Wigman.

The other one is going to be Empire Builder by Adam Coffey.

And that talks about business acquisitions, because I believe everything that you build should be built so that it's predictable outcomes.

Because when you have predictable outcomes, you have an asset.

You can still have a successful business not being open Sundays.

However, I was actually reading a post today from Adam Coffey, and one of the business he made a lot of money on was a heating business.

He says the heating system might break down today, tomorrow, whatever day that is.

Well, guess when they're calling to get it fixed? That day.

Let's talk franchising.

Thank you very much, Adam Coffey, today being my special guest all the way from USA.

Adam, why don't you tell the world who you are and who is Adam Coffey for those who don't know who you are?

Well, Suzanne, it's good to see you.

Good to be here.

And hello to all your listeners out there.

So my name's Adam Coffey.

If I think about my life and my set of experiences that make me who I am, I'm a veteran of the U.S. Army.

Often, yes.

And Adam Coffey brings up a great warning about survivorship bias here.

Oh, people only looking at the winners?

Exactly.

So we, we have a very similar connection.

His name's Adam Coffey, and he talks about mergers and acquisitions and business ac- accumulating.

And they're really, you know, the private equity firms are really, really, really big right now on buying these trades because there's, like, 33 million operators that are making a million dollars and less of EBITDA.

And so, um, because they, they, they know how to get in and do business, but they don't know how to go scale business.

... you know, you're gonna find those people show up or don't show up.

But to your point, so I mean, yeah, uh, I think as the entrepreneur, we're always looking for not necessarily the shiny object or the next best thing, but it's the opportunity of scaling.

So one of the opportunities I had when I got up on stage, I met, uh, Adam Coffey, and I had the opportunity to interview him on stage And, uh, you know, he's like, "Hey, Ernie, well, what is it you do?" I said, "Well, I do real estate investing." I said, "But, you know, I'm, I'm a licensed GC as well as a realtor." He's like, "Horrible.

Stop doing it."