My business progress

[Mr4213]

I finally got things set up so my company can accept debit cards, checks ect. Yesterday I got my first electronic sale, which was cool lol.

Which means I can now post pictures of my sales. I wanted to post this picture of what I did yesterday. This lady should have been charged $720 (average local industry price would have been $950) she is a single mom with two babies and not a lot of money. I felt bad so I charged her $300. After all overhead cost I made $231 in profit yesterday. Was there about 4 hours. Then I went home and finally took a day to myself, just watched tv and then did some work later that night.

I am raising prices.

I have another simple job set up Friday which is $360. I just got a call about another one. Although I did not make a killing this week, I am going to end up clearing $1k for the week. Job time is under 20 hours total for the week. I also had to turn down a great job. I've switched marketing strategies and, for the most part, my sales are coming to me. I'm working on growing that.

My business is really starting to pick up. I am getting about 3-5 jobs a week now. I have connections calling me and sending me jobs, people calling from business cards, I have a car magnet (lol), I have some deals with ad companies in progress, social media, and many other things.

In under a few months I am going to automate the main aspects of the business. Personally, I think it will and can be done within a month from today.

I am just aiming at $100 day in passive income. Then I will work on growing that. I will take that money and invest it in the business, and other businesses.

The partner situation is hazy. Still, no one has signed. I wont even get into it because it would take way too long to type and even harder to explain.

To throw an even bigger kink in the partner situation. I was approached by a individual who wants to invest a decent size chunk of cash into the business, and be a active partner. So to sum all of that up, I have a lot on my mind as far as possible options.

A lot of different things I'd like to talk about, but for now I will just leave it for later.

Overall, the doom and gloom feeling I had is starting to fade away. I have been stashing money into my business accounts. Worse case scenario I just pull money from there and pay all my bills for that month. (until/if partners sign paper I have 100% authority to do that at will) I feel financially safe. And the business is really starting to pick up. Still have significant issues though.

I am going to occasionally post updates on my sales figures with pictures.

I hope everyone is doing well. If you have not jumped in, just do it. It is so fun and thrilling. I have a purpose and goals in life now because of it. My favorite part is I am beholden to no one. No boss is telling me where to be for 8 hours of my day.

 

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[HoneyBadger]

I understand your decision to cut move than half of your profit for her was one from a moral standpoint so I won't judge the logic of that as it was an emotional decision. Can you at least ask to use her likeliness/photo and testimonial for your website if it makes since with your product? Might be an option to keep in your back pocket if you feel so inclined to give 50%+ off deals again in the future.

 

[Mr4213]

Update

Started using square on July 13th. This is my gross electronic sales from the 13th - 15th.

I also did another $425 in cash this week. Total time for all work was under 20 hours.


Disappointed in myself for the low numbers this week. I have identified all the issues and am working to fix them. One big problem is my pricing. That $660 should have been $2k easily had I been following traditional industry norms. I am going to change my pricing so I am the most affordable, but just by a small margin. Not 50%-75%. I think I am still in the stage where I feel awkward asking for large sums of money. I am starting to get past it.

I will post more in the future.

(On a random note, @Vigilante I wanted to apologize for acting my age before. I let my emotions get the better of me and I take responsibility for it. I also want to apologize to @theag and all the other people I may have offended by acting immature.)

 

[Mr4213]

Update

Closed a deal this morning. I'm at drill all weekend and cannot go to the job.

I'm sending a crew for the first time without any supervising from me. It's pretty scary to me.

Assuming all goes good I will post the sales figures here.

Also got another sale done for the 25th and another next month which will be $3300.

If that crew does well then my labor is now automated! All I did was spend a few minutes with the customer (who came to me from my advertising) and another few minutes talking to the crew. I'll make a few hundred in profit. Really close to passive income. Really f'ing close.

 

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[Mr4213]

I understand your decision to cut move than half of your profit for her was one from a moral standpoint so I won't judge the logic of that as it was an emotional decision. Can you at least ask to use her likeliness/photo and testimonial for your website if it makes since with your product? Might be an option to keep in your back pocket if you feel so inclined to give 50%+ off deals again in the future.

I keep customer information sheets on everyone. Pretty much all of my customers have agreed to leave reviews and such.

My prices are all being raised. I'm going to try my best to prevent any emotions interfering with business decisions for now on.

 

[Mr4213]

The crew that was sent did well. One minor communication issue. Other than that it went good. Took them one hour. Billed customer at $160. He paid in cash. After overhead, the company profited $124. Not too much. I'm happy with it though. This is the closest to 100% passive income I've ever been.

My total involvement in that sale and job was less than 10 minutes. I did not supervise at all because I am legally stuck at drill.

Based on what I've seen. I think the labor side will be 100% automated very soon.

Outsourcing inbound calls.

I've got decent sized jobs coming up this month. Will post all gross electronic sells.

 

[OldFaithful]

Congratulations. After a rough start, it sounds like you are figuring it out!

 

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[Mr4213]

Update

The partners are causing stalemates and slowing everything down. Negotiations have been going on for weeks regarding percentages and responsibilities.

They have value.

One of the problems is 2 of them are asking for a equal % to me. I said okay, quit your job, do this full time and take the same risk (Or invest large amounts of money). Then you can have an equal %. They do not like that and are trying to threaten me with a walk away. Which would be a blow, but it wouldn't be hard to recover by any means. If they try to bluff me with a walk away I will call it and say walk the F*ck away.

The other partner is good. He has sent me another potential partner that would be added at 5% that would soften the blow from the other two if they leave.

Its all one big cluster F*ck at the moment lol.

 

[OldFaithful]

What a mess! Sounds like another good reason for me to start slow/small and with no partners or investors.

Instead of bringing in a partner to help carry the load, could you hire one of them? Might be too late to ask them to reconsider partnership and become an employee though...

 

[Mr4213]

Update

After what seems like forever, everyone has finally agreed on an agreement. I am ending up with 51%. I am working on a operating agreement.

Despite that good news I am feeling pretty depressed today. My grandmother lets me stay with her rent free. I am never there though. I leave early in the morning and come home late at night and go straight to bed.

She came up to me today and started crying. She thinks I am using her. She says its not normal to work like I am. She doesn't get it though.

Excuse my language but I am really pissed off right now. She bought into that F*cking dinar currency scam. She is 6 figures in debt and can not retire. She is over 80 years old working over 40 hours a week. She may lose her house and the little piece of land her family passed to her. She thinks that scam will be her salvation. Its a load of bullshit. The only people making money from that are the "gurus" selling the scam. If I ever meet one of these gurus in real life I am probably going to go to jail. Everyday now she thinks "today is the day". She wont listen to reason...I do not want to shatter her hopes. That scam is the only thing keeping her going. She sits on her computer for hours everyday listening to these gurus. She talks about how great things will be for us when the dinar revalues...

I've expressed my concerns to her about that, she thinks I am the one that does not understand. She thinks I am young and that I just don't get it.

In actuality, I do get it and she does not. She does not understand that her salvation depends on my company being successful. My company is the only hope she has of retiring. I have to work hard and make this shit successful very quickly. If I don't she will die a slave. She will spend the last days of her life on earth unhappy.

It stings so F*cking much. Alzheimers runs in her family. Both her mother and aunt had it. They got it around the age she is now. I can see she is starting to develop it. What happens when her health gets so bad she can not work anymore? What income will she have to survive on? How will she keep her house and land? Shes had multiple strokes already and is losing her vision...the situation is beyond F*cked.

I'm keeping emotions out of the equation. I know this is what is best for her in the long run. Me trying to create a successful company is causing family strains. I am holding my ground and am going to keep going forward with my plans and I am not going to relent. Even if she ends up thinking I do not love her...at least I am giving her the only chance she has at retiring and living a happy life.

Sorry for the useless post. I needed to vent.

 

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[OldFaithful]

@Mr4213 that is not a useless post! It's a window into the internal motivation that is driving you. Many of us have no other place to vent, since our friends & family don't want to hear about our struggles. I feel for you.

This should inspire us to kick it up a notch, if not for those we love, then just in response to your example. If more men took responsibility for their families/dependents, the world would be a very different place. Just remember to spend time with your grandmother while you can, because that chance will never come again.

 

[Mr4213]

@Mr4213 that is not a useless post! It's a window into the internal motivation that is driving you. Many of us have no other place to vent, since our friends & family don't want to hear about our struggles. I feel for you.

This should inspire us to kick it up a notch, if not for those we love, then just in response to your example. If more men took responsibility for their families/dependents, the world would be a very different place. Just remember to spend time with your grandmother while you can, because that chance will never come again.

I sincerely appreciate your reply.

 

[Azure]

What exactly do you do?

Every time I read your posts I get less of an understanding of what it is you do.

 

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[Mr4213]

What exactly do you do?

Every time I read your posts I get less of an understanding of what it is you do.

To put it simply.

I founded a service company. I am working to automate it and have made some decent progress. I am already at the point where I do not (most of the time) have to go and do any actual labor. I am working on automating the marketing and sales.

This company is not how I plan on obtaining the net worth I aspire to though. My future plan is to start a parent company and put this company in it. Then use this company to buy/invest in other companies for the parent company. To achieve multiple income streams. So far in the future I have not really given it too much thought. The plan will likely change anyways going forward.

 

[Azure]

Yea, that's all fine and dandy but it doesn't answer my question.

What exactly is it that you do? It's interesting following your posts, yet they're very airy and lack substance. A tiny bit of context beyond "a service" would probably add some perspective. Many of the people here have achieved some state of automated business and may be better served to help you if anyone actually understood what it even is you do.

 

[OldFaithful]

Tell me what you do, how you do it, where you're located, what you did step by step, and how much money you make...pretty please.

If you've been following along, it seems that @Mr4213 has a brick & mortar type business in a big industry with plenty of competition, in a high cost of living state (CA), providing a local service to homeowners that requires a bit of equipment to startup, would typically have a couple workers in uniform on site and can occasionally be a cash job. I'm guessing septic pumping, carpet cleaning, driveway paving/sealing, customer counter-tops or something of that sort. I'm just guessing here though!!! Regardless, it's been validated by MJ.

Personally, I don't need to know your complete business structure to learn from your progress.

 

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[HoneyBadger]

Tell me what you do, how you do it, where you're located, what you did step by step, and how much money you make...pretty please.

If you've been following along, it seems that @Mr4213 has a brick & mortar type business in a big industry with plenty of competition, in a high cost of living state (CA), providing a local service to homeowners that requires a bit of equipment to startup, would typically have a couple workers in uniform on site and can occasionally be a cash job. I'm guessing septic pumping, carpet cleaning, driveway paving/sealing, customer counter-tops or something of that sort. I'm just guessing here though!!! Regardless, it's been validated by MJ.

Personally, I don't need to know your complete business structure to learn from your progress.

While I also do not think it matters my hunch is solar panels for some reason....

 

[Mr4213]

Yea, that's all fine and dandy but it doesn't answer my question.

What exactly is it that you do? It's interesting following your posts, yet they're very airy and lack substance. A tiny bit of context beyond "a service" would probably add some perspective. Many of the people here have achieved some state of automated business and may be better served to help you if anyone actually understood what it even is you do.

You have a valid point. To some extent that is done intentionally.

I've thought about posting all of my business details. But decided against it. If or when I do that, I would become an INSIDERS and post my information there.

If everyone knew my business details, then my post would be limited. I would be less likely to talk freely and post other information. I would not be surprised if the people who really wanted to know had ways of finding out or already have. Even so, I would rather people work for that information than just offer it up on the forums.

I think what I post is enough to give people some value.

 

[Mr4213]

Tell me what you do, how you do it, where you're located, what you did step by step, and how much money you make...pretty please.

If you've been following along, it seems that @Mr4213 has a brick & mortar type business in a big industry with plenty of competition, in a high cost of living state (CA), providing a local service to homeowners that requires a bit of equipment to startup, would typically have a couple workers in uniform on site and can occasionally be a cash job. I'm guessing septic pumping, carpet cleaning, driveway paving/sealing, customer counter-tops or something of that sort. I'm just guessing here though!!! Regardless, it's been validated by MJ.

Personally, I don't need to know your complete business structure to learn from your progress.

Haha, you are close to home.

The only part that you are off on is the high cost of living state. My area is pretty low cost.

 

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[Azure]

Sorry if my posts came off negatively. I've been reading all of your posts and they're very intriguing, particularly given that you were in a fairly bad position to start off(living in a car if I recall?). I have no intention of trying to copy your idea or anything of the nature. These types of businesse, while intriguing to me , are so far removed from my expertise that you would actually want me as a competition lol.

Anyway, again I apologize if I came off poorly was only trying to gain a better understanding of what you do.

 

[Mr4213]

Update


I’ll be uploading a $1,700 sale I did in a few days.


Things have been going well. The website was finally completed and it looks absolutely beautiful. In about 4-8 weeks it will start generating leads.

Today I went out and bought a ton of new supplies and equipment. Almost half my room is filled with stuff lol. My company will have better equipment, better customer service, better employees and a better price than every local company.

Unfortunately I have to go to a month long training in August with the National Guard. I have to pause my company while I am gone.

My bills are paid for the next two months.

Things are coming together smoothly.

To sum it all up. I am sitting pretty right now.

 

[Mr4213]

Had a little free time.

Crappy food and even worse pay. Bad hygiene conditions. Hot as all hell. It sucks. But I love these guys. I would gladly give my life for anyone of them. I'm the only medic for 40 soldiers.

I'm upset about my business. The business is on complete pause. I've lost a good bit of money. I've had customers call and I've had to turn them away.

Feels like I'm going to have to restart everything when I get back. I lost so much momentum. It's almost like I am starting from scratch. I got rid of the other partners besides 1 and turned down the other gentleman's offer.

This is one of those times in my life where I am seriously asking myself what the hell I am doing.

I'm just going to keep going. Honestly the uncertainty is terrifying.

There are rumors of a deployment coming up in late 2017/ eary 2018. Usually I would dismiss them as only rumors. But the federal government has been sending my unit a LOT of money recently. We've been buying new equipment. Everyone here including our officers are saying a deployment is likely. I've heard Africa, Egypt, Afghanistan and korea.

I'm taking this time to search within and find myself. If that makes sense. On my free time I am working on creating new business plans for myself. Just trying to find myself really.

 

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[OldFaithful]

Sounds like it might be time to train someone on your team to fill in for you while you're unavailable. Even if they aren't as good at it as you'd like, at least you wouldn't have to turn away customers and feel like you're starting over. It might just lead to a bit more "passive" business structure.

Besides, even if that team member is just filling in, on occasion, it might free your mind to focus on the big picture. Future plans, goals, methods, new markets, etc...

 

[Mr4213]

Sounds like it might be time to train someone on your team to fill in for you while you're unavailable. Even if they aren't as good at it as you'd like, at least you wouldn't have to turn away customers and feel like you're starting over. It might just lead to a bit more "passive" business structure.

Besides, even if that team member is just filling in, on occasion, it might free your mind to focus on the big picture. Future plans, goals, methods, new markets, etc...

I've been trying. I haven't found a competent person yet. One reason I brought the other two partners on was so they could fill that role when I can't.

It sucks when you let jobs go where you would have made your monthly active duty pay in a day lol.

I'm going to stick with it. Just a little sad considering all the work I put in. But I gained a lot of knowledge, which can't be taken from me.

 

[KLaw]

Are you using sub-contractors?

 

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[Mr4213]

I have been back a few days. I've been taking the past few days to relax and recover from being gone all month.

I feel like I've been in a slump. Being gone all month really screwed me over. I had a few jobs scheduled and I was not able to do them. I lost around $7k gross from those alone. I also received multiple calls from potential customers while I was away. I have no idea of knowing how much I could have earned from them.

I told the gentleman who wanted to make a deal no. He wanted too much.

I got rid of the 2 gentleman who would have been partners.

My Grandmother's health has only been getting worse. Some things happened with her job and I think she will be leaving this year sometime. She actually asked me what I would do for her if she lost her job. My brother also moved out. A lot of family issues are weighing on my mind right now.

I lost so much momentum, I am pretty much having to rebuild most of the business again.

I'm also trying to grow and mature myself. I have been dealing with a lot of personal issues that I am working to solve. I would say I have been my own biggest obstacle. @MJ DeMarco talks about changing your oil in his book. I agree with him, I am going to start reading books again to help realign my mindset. I'm going to start with rereading TMF . I'm working out again and am working on creating daily routines.

I also started writing a book. More out of personal reasons than to make money with. The book is about my childhood. The book is written for youth who grew up like me, or far worse than me. I want to show them that they can escape their situations through entrepreneurship and that it is a viable option. I may post some of the content on the forums in the future to get opinions on it.

I have no plans to ever give up. I'm going to keep going until I win. In a bad slump but I will get past it.

 

[Mr4213]

Today has been off to a good start. I received my first lead from my website! Easiest sale I've ever made lol.

The business has been coming back up, I think I overestimated how long it would take to bounce back. Still a little rocky but its bouncing back.

I have a 17 year old high school junior that works for me. Good kid with common sense. Comes from an abusive family. Last week his mom hit and bit him and then smashed his window. He wants to move out into an apartment. When I was a junior I also left home and lived in an apartment. A lot of things about this kid remind me of myself.

I've taken him under my wing and have been teaching him everything I know. So by the time he is my age he will be far past me in experience and knowledge. Yesterday I started teaching him how to sell. I took him to a lower income neighborhood (so when he messed up it wouldn't matter) to door knock and cold call.

I told him the goal was not to get a sale that day. The goal was to push him way out of his comfort zone and get used to hearing no. It also would improve his socializing skills and confidence. I told him he would not get any sales that day (being his very first time) and that he would screw up but its okay because that's the point. If for some miraculous reason he is just a sales prodigy and is able to make a sale I offered him 30% gross of each sale.

As expected he butchered it lol. Stuttering and not even being able to finish sentences. Every time he was done we would talk about how he could've improved and we also had a few laughs. We worked at it for a few hours and he improved drastically. Once he gets that down I am going to teach him about networking. Good kid with a lot of potential.