There's a company called Sublime: • My partners & I invested...
Codie Sanchez@Codie_Sanchez
64 views
Dec 13, 2023
1
There's a company called Sublime:
• My partners & I invested $2.5M
• Later spent 8 figures to buy a chunk of it
And then.. they almost went bankrupt.
It took a lot of work to get the company back on track. Here's the short version of the story: https://t.co/tsPIMaWwKA
• My partners & I invested $2.5M
• Later spent 8 figures to buy a chunk of it
And then.. they almost went bankrupt.
It took a lot of work to get the company back on track. Here's the short version of the story: https://t.co/tsPIMaWwKA
2
Sublime had the best product (anyone ever tried Dosies?) but really bad management.
So my partners Joe & Tiffany spent weeks in Oakland, CA righting the ship.
During that time, we had some pretty unique difficulties…
So my partners Joe & Tiffany spent weeks in Oakland, CA righting the ship.
During that time, we had some pretty unique difficulties…
3
Someone broke into the warehouse by ramming the door with cars.
Then raided the warehouse with guns for $100s of thousands in product.
(It's a cannabis co, no surprise there.)
Then raided the warehouse with guns for $100s of thousands in product.
(It's a cannabis co, no surprise there.)
4
A driver of one of the trucks filled with product to Mexico missed the turn for the last dispensary.
Truck had $80k + $100K+ of product in it.
The list goes on and on.
Truck had $80k + $100K+ of product in it.
The list goes on and on.
5
BUT - that’s business.
Things will always go sideways (though I hope it goes better for you than armed raids).
One thing you always have control of?
Financial tracking. And that was a simple area this business was failing at. So...
Things will always go sideways (though I hope it goes better for you than armed raids).
One thing you always have control of?
Financial tracking. And that was a simple area this business was failing at. So...
6
We brought in zero-based budgeting and relentless weekly cashflow tracking.
• Tracking weekly is the only way to ensure you won't run out of cash.
• Every private equity fund does this.
• It's simple, but a superpower.
• Tracking weekly is the only way to ensure you won't run out of cash.
• Every private equity fund does this.
• It's simple, but a superpower.
7
I thought I’d give you all the document that saved my a$$ back then..
I make ALL my companies use it:
13 Week Cashflow Tracker.
Now you’re in the club. Welcome to the grind of business & counting cash:
https://t.co/yxVFg6leLn
I make ALL my companies use it:
13 Week Cashflow Tracker.
Now you’re in the club. Welcome to the grind of business & counting cash:
https://t.co/yxVFg6leLn