Episode 41
Don’t Fall in Love With the Deal: Fail Small, Win Big — How to Start a Business with David Jones
About This Episode
Most first-time buyers fall in love with their first deal. David Jones says that’s the one you should walk away from.
David spent 20 years in the Army and has built nine companies over 21 years. He started his first one while he was still on active duty. Today he owns self-storage facilities and runs the Veteran Business Community, where he helps veterans and entrepreneurs buy, start and grow small to mid-sized businesses. His rule is simple: test your assumptions, and fail small, early and cheap so you stay in the game long enough to win.
In this conversation
In this episode of Carson’s Corner: Entrepreneurship & Investing, Carson and David cover:
- The VA’s Veteran Readiness & Employment (VR&E) self-employment track, which can provide up to $50K in equipment and resources to service-disabled veterans starting a business
- How David bought his first self-storage facility for about $500K with his partners’ own cash, proved the model, and now has it listed at roughly 3x. He used that track record to fund the next deal almost entirely with investor money.
- Why you should buy the building, not just the business, and how Carson paid over $1M in rent across his restaurants
- Testing demand before you spend a dollar, including the 19-year-old who pre-sold washer-and-dryer rentals and hit about $7K a month in 120 days
- What most people get wrong about SBA loans: 10% down, “SBA approved” listings, and why investors who own under 20% can avoid the personal guarantee (David’s team calls them “the 19s”)
- How bank underwriters actually decide, and why the first “no” shouldn’t stop you
- Owner financing, skin in the game, and the deal David walked away from
- Using AI as a force multiplier in your business without letting it write your business plan
Connect with David at veteranbusinesscommunity.com or on LinkedIn.