That’s right. I bought my business (ambitdesign.com) from a friend after working with/for him for a bit and helping him finish some task heavy web projects. I paid for it over a year by giving him a percentage on every project that came in under Ambit’s umbrella. It was an interesting process but maybe that’s a post for another time.
Looking back on this process and the many ideas I’ve had for businesses since then and having listened to a number of entrepreneurial books by Mike Michalowicz, John Acuff, Donald Miller and Michael E. Gerber. I can’t help but feel a little weird admitting that I bought my company from someone.