Rick Jordan - Be Careful When Helping Friends

<p><strong>BIO:</strong> Rick is the Founder &amp; CEO of ReachOut Technology, which just had its initial public offering. He appears on global media and speaks on stages across the United States as an inspirational speaker, cybersecurity expert, and mindset motivator.</p><p><strong>STORY:</strong> Rick wanted to bail out a struggling friend, so he offered to buy his business. Unfortunately, he didn’t have a legal structure during the acquisition to include a non-compete clause. Six months later, his friend started another company and took back the clients Rick had acquired from the sale.</p><p><strong>LEARNING:</strong> Get the proper legal structure when buying a business. Refrain from letting emotion drive your decisions when investing. There’s no such thing as a bad asset, just a bad price.</p><p>&nbsp;</p><blockquote class="ql-align-center"><strong>“I think business partners can become friends, but I don’t think friends can become business partners.”</strong></blockquote><blockquote class="ql-align-center">Rick Jordan</blockquote><p>&nbsp;</p><h2>Guest profile</h2><p><a href="https://www.linkedin.com/in/mrrickjordan/" rel="noopener noreferrer" target="_blank"><strong>Rick Jordan</strong></a> is a magnetic personality who constantly appears on global media and speaks on stages across the United States as an inspirational speaker, cybersecurity expert, and mindset motivator.</p><p>Rick is the Founder &amp; CEO of <a href="https://reachoutit.com/" rel="noopener noreferrer" target="_blank">ReachOut Technology</a>, which just had its initial public offering.</p><p>In his free time, Rick is the host of the popular podcast <a href="https://podcasts.apple.com/us/podcast/all-in-with-rick-jordan/id1450998120" rel="noopener noreferrer" target="_blank">ALL IN with Rick Jordan</a>.</p><h2>Worst investment ever</h2><p>Rick’s longtime friend struggled in business, making about $150,000 in revenue annually before expenses. He requested Rick to take out a loan for him, but Rick felt this wasn’t the best way to approach the p