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NOTABLE! Doing $75,000 USD Per WEEK (Service Business)

Discussion in 'Lessons from Success/Failure' started by 458, Nov 26, 2018.

  1. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    Hitting stride now but still growing fast, 2019 should have us averaging 150k a week, right now i am at 75k per week.

    I've learned a lot as we have grown, who has questions? Add them below and I'll answer (good questions only).

    EDIT: SPECIFIC QUESTIONS RELATED TO YOUR OWN STARTUP OR BUSINESS, NOT RELATED TO MINE.

    EDIT EDIT: A few current fun facts for everyone:

    1. Current Age: 29
    2. Xmas gift to myself: Topre Keyboard
    3. Drink of choice: COFFEE x 1,000
    4. Current work schedule: Mon - Fri 4am to 5pm and Sat 10am to 6pm
    5. Current ride: Your mom
     
    Last edited: Nov 27, 2018
    Striver, HIPPYOWL, Sheps and 30 others like this.
  2. Sebastya
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    Sebastya Bronze Contributor

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    Who, what, when, where, why, how.
     
  3. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    There is a progress thread I started a long time ago, just search for it. I made this thread for questions.
     
  4. EvanOkanagan
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    EvanOkanagan Gold Contributor FASTLANE INSIDER Speedway Pass Summit Attendee

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    Why not update your progress thread?
     
  5. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    Great question! Obviously rocks are your main diet for breakfast lunch and dinner..
     
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  6. CareCPA
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    CareCPA Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    How do you build your prospect list for cold calling?
     
    Arun Siva, FastNAwesome and Scot like this.
  7. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    We self generate our lists from public record. I have never bought a list in my life.
     
  8. Jakeeck
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    Jakeeck Silver Contributor Read Millionaire Fastlane Speedway Pass

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    How do you find reliable employees that take pride in doing a good job?
     
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  9. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    Trial and error, luck, paying more than anyone else, firing all the non great ones.
     
    M11105, Santi Merino, Duane and 9 others like this.
  10. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Y'all must not know @458 ...
     
  11. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Do you recommend paying outside sales salary + commission or commission only?

    If commission only, how do you sell that to them?
     
  12. 100k
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    100k Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Are you talking about this thread?

    EXECUTION - 500 MILLION DOLLAR DEAL

    Anyways, $75k per week, is that net profit? Doing what? Selling a service or product?

    What's your funnel like? Avg. Customer Life time Value? Avg. Product Cost?
     
  13. csalvato
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    csalvato Platinum Contributor Read Millionaire Fastlane Speedway Pass Summit Attendee

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  14. George Appiah
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    George Appiah Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Just finished reading all four pages of your original execution thread.

    What a journey (even for someone like me reading from the sidelines)!

    Thank you @458 for sharing your amazing journey with us. Greatly appreciated, and inspired to share my own *new* journey I'll be embarking on soon.

    Looks like that's the second "lost" thread.

    The original "lost" thread is here:

    EXECUTION - [Progress Thread] Million+ Revenue by 25
     
  15. The Abundant Man
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    The Abundant Man Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    What makes a successful salesperson?
     
  16. Sanj Modha
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    Sanj Modha Gold Contributor Speedway Pass

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    What's the profit?
     
  17. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    I only recommend what has worked for me:

    1. Inside sales only
    2. $20 an hour plus sliding scale commission (The more they sell the HIGHER there percentage gets)
    3. Small cash handouts daily right when they close a deal. Regular commissions are paid monthly on there total monthly production.
     
  18. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    1. Selling a service
    2. 75k is gross
    3. Cold calling funnel
    4. $3500 average product cost
     
  19. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    The ability to legitimately not give a fk about rejection on a daily, weekly, monthly, yearly basis AND always have an upbeat attitude on a daily, weekly, monthly, yearly basis. For most people its just not possible. Truly great salespeople are very hard to find.
     
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  20. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    Organic growth is always expensive. That's why i always ask the question on here for anyone new that is thinking about doing this "Are you willing to make $10k a year for the next 5 years?"

    Until recently: 2-5% profit margin
    Now and moving forward: 30-35% profit margin

    Time to cash in brah
     
    Last edited: Nov 27, 2018
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  21. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    PS. EVERYONE ASKING QUESTIONS ABOUT MY VENTURE IS POOR BECAUSE YOU ALL CARE MORE ABOUT WHAT I AM DOING AND LESS ABOUT WHAT YOU ARE DOING. FURTHER QUESTIONS ABOUT MY VENTURE WILL BE IGNORED.

    I AM SUCCESSFUL BECAUSE I HAVE NEVER DONE WHAT MY COMPETITION HAS DONE, I PUT THEM ALL OUT OF BUSINESS. QUIT LIVING IN THE PAST AND INNOVATE.
     
  22. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    What do you use for your time management / task tools?
    How do you organize your time for each week? Blocks? Tasks? Freeflow?
    Do you require the same level or time organization from senior staff? What do you use to track them?
    What are the main two metrics for your business? How often do you track them?
    Any recent books or seminars that 'changed the way you do things'?
    Do you admit to knowing @Scot ?
     
  23. becks22
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    becks22 90% coffee, 10% everything else Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    2nd on managing time. You work a shit ton of hours. I'm working usually 65-70 hours a week now but that's no where near as much as you
     
  24. 458
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    458 Platinum Contributor Read Millionaire Fastlane Speedway Pass

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    1. For one time tasks i use a Google Sheet that has Mon Tue Wed etc as the columns. I can freely and quickly delete stuff as it gets done or move it forward at will. For recurring tasks i use the phone app SplenDO.
    2. For my staff they mostly use Salesforce, ZohoDesk, Google Sheets, Slack, Dropbox, etc etc etc for organization.
    3. There are a lot of metrics that are my main metrics that i watch and pay attention to, you need to be specific.. Sales related? Customer related? Admin related?
    4. No, my own failures this year have been the biggest teachers. IE. A lot of times you are your biggest enemy to your own success.
    5. No one on here knows who i am and i prefer it that way. I like being anonymous, its just how i roll..

    I woulnd't say im the best at "time management" but i am really good at refining systems and work flow that create a natural ability and consistency to a lot of stuff getting done without falling through the cracks.
     
  25. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Metrics ... understand you track a lot of them. My question, what have you boiled it down to as the main ones to tell you how things are going?

    For my engineering business, monthly gross margin and closed won opps tell us all we need to know.
    We have others that each department needs to hit, etc.
     

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