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Josh Malang

๐Ÿ‘ค Speaker
192 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

So really to kind of fund this thing, we've been investing a ton in infrastructure, staff, and also into that tech platform through our vendor.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

Um, a year ago, right around, right around before I started selling everything off, we're at about 450 K off our original business.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And it was all off of insurance, recurring revenue from insurance products, mainly health, also some fee-based investments.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

We managed a couple 401k platforms, but it was really more, it was all retail.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

Yeah.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And it was really, it was because, you know, I realized that we, we had,

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

what people didn't in terms of the infrastructure and the technology and the scale to actually set ourselves apart as a business, a business firm.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And so once I realized that, I was like, man, we got to get after this.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And I kind of lost my steam in the retail side anyway, in terms of, you know, training and developing new people.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And that, you know, as my business, I did that for a dozen years.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

I just kind of lost the heart for it.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

No, no, that was me.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

It was just, it was an insurance agency, man.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

Like a typical, you know, we did a bunch of life, a bunch of health and investments.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

And then promptly into other people's pockets.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

But yeah.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

So why into other people's pockets?

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

Well, our development firm, I poured a bunch of money into the tech platform with the development firm we've worked with.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

To the dev company, probably five, 600 K. Oh, wow.

SaaS Interviews with CEOs, Startups, Founders
He Sold $400k Business for $1.5m Then Reinvested Everything into New Business

Okay.