Marx Acosta
Marx Acosta is the founder of Onestop, a company that makes 30+ million dollars in annual revenues selling print cartridges. Marx dropped out of law school to become an entrepreneur. He is also an investor and consultant who shares his wisdom with other entrepreneurs to save them from falling into traps that might paralyse them and keep them from living the life they want to be living. Marx believes that family comes first, and they became his inspiration for rising again.
How did Marx’s company get value? (4:43)
- Businesses sell for a multiple of revenue rents usually EBITDA, so EBITDA was about six times multiple.
- The challenge with these kinds of businesses is that there are no contracts by which you can have customers.
- When the business crashed, they sold it. Later on, they repurchased the assets, which they had to build once again from scratch.
Marx’s secret sauce which he figured out himself. (10:46)
- He was voted least likely to succeed when he was in high school. He is an introvert and would be happy if you sit him in a corner and give him a book.
- The thing that he figured out early was that he was doing something different. He was utilising things that others weren't doing.
- His secret is in the way that he speaks to the other person. He puts forth a good ego and authoritative character. He uses the term “assume” which puts him in that position.
What makes or breaks the business? (33:11)
- You're only one to three moves away from greatness or disaster, it’s not 50 or 100 but as little as up to three movements, and this is not always noticeable.
- The one move that caused the downfall of Marx’s organisation was a wrong hire.
- He realised that he had made the mistake of advocating and neglecting four areas at some point.
- Once he got a hold of that, everything started to change for him.
- The purpose of building an organisation is to grow it. If you succeed, it will be “attractive.” At some point, someone will come and knock on your door if it's a good company.
Marx’s vision around particular businesses. (33:11)
- Marx’s vision right now is around his kids as they are all heading to college.
- Some entrepreneurs keep making the same mistakes over and over again, and the reason for this is because they're not working on their mindset.
- What drives results are behaviour, so if you want results, you need the right actions, and what drives behaviour is belief.
Marx Acosta-Rubio
Marx Acosta-Rubio helps you with creating a selling system. They help owners transform average salespeople into extraordinary income producers using their predictable sales system that never fails.
Resources
Connect with Marx: LinkedIn
Marx Acosta: Website
Beyond 8 Figures: Website
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