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

Ocean Man

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Since i started I have had a few girlfriends and yes most of them didn't like my hours.. However, if they like you or love you, they will put up with it. The key is finding one that only complains about it once in awhile.. Most of them will complain about it every chance they get, women love to complain. (I can hear them complaining right now about that sentence.)

In regard to reducing your hours, you can do that, but only after the business has been built. IE. 5-10 years of 80-100 hour weeks.
Thanks for the reply @458 I definitely agree with you that initially, you're going to need to put in a ton of work.
 

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Kevin88660

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Actually we perform 100% of our services in house through our own employees.
I am an insurance sales person.

You mention that you never buy cold call list but you generate on your own. How do you do it?
 
OP
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458

458

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I am an insurance sales person.

You mention that you never buy cold call list but you generate on your own. How do you do it?
Why don't you tell me what your currently doing to obtain non purchased insurance leads and maybe i can point you in the right direction. Just because I do something in my business doesn't mean you should too, nor is what i do relevant to your business.
 

Kevin88660

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Why don't you tell me what your currently doing to obtain non purchased insurance leads and maybe i can point you in the right direction. Just because I do something in my business doesn't mean you should too, nor is what i do relevant to your business.
-Online: Other sales professionals who leave their contacts online. Property agents for example.

-Social: Alumni contacts through college and high school alumni activities. I take uber share and speak to uber drivers and other passengers to obtain contacts, while I am on my way to meet my prospects.

-Door to door knocking on landed properties.

I am based in Singapore.
 
Feb 1, 2019
1
0
4
Houston,TX
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
Just found your thread congrats on your success. I am currently working on releasing my personal home decor business and my only question would be how did you make your introduction to your market? I am in current situation where I am debating on the type of marketing i should use for my initial product launch. Any suggestions for initial customer effective customer acquisition would be great . Thank you in advance.
 

ErinStephens

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Since i started I have had a few girlfriends and yes most of them didn't like my hours.. However, if they like you or love you, they will put up with it. The key is finding one that only complains about it once in awhile.. Most of them will complain about it every chance they get, women love to complain. (I can hear them complaining right now about that sentence.)

In regard to reducing your hours, you can do that, but only after the business has been built. IE. 5-10 years of 80-100 hour weeks.
I am not about to complain about that comment above :) I guess it is about the quality of the time you give to those relationships......uninterrupted time not distracted time counts more :)
 
OP
OP
458

458

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I am not about to complain about that comment above :) I guess it is about the quality of the time you give to those relationships......uninterrupted time not distracted time counts more :)
Definitely helps but also having a partner that truly understands that you are responsible for putting food on others table and there is no exit strategy for a startup. IE. With a job you can quit and find another, in a startup, your on the ride whether you want to be or not and it ain't stopping for no one. You either succeed or crash and burn.
 
OP
OP
458

458

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-Online: Other sales professionals who leave their contacts online. Property agents for example.

-Social: Alumni contacts through college and high school alumni activities. I take uber share and speak to uber drivers and other passengers to obtain contacts, while I am on my way to meet my prospects.

-Door to door knocking on landed properties.

I am based in Singapore.
The most important principles of leads are the following:

1. Figure out what works and is profitable in terms of conversions and then forget about other lead sources. You need to become an expert in one specific lead before you add a second one into the mix.

2. Cut out the middle man and go straight to the source. IE. Figure out how lead brokers are getting leads and follow the trail to the top. PPC is great but your at the mercy of the middle man Google. You never want to base your success around hope and prayer that the middle man has your best interest in mind over a long period of time. The idea here is you want to buy raw data from specific data providers and then put them together to create a lead.
 
OP
OP
458

458

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May 21, 2011
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Just found your thread congrats on your success. I am currently working on releasing my personal home decor business and my only question would be how did you make your introduction to your market? I am in current situation where I am debating on the type of marketing i should use for my initial product launch. Any suggestions for initial customer effective customer acquisition would be great . Thank you in advance.
Use what works and generates sales in an ethical manner. Everyone wants the best automated marketing/sales funnel but who cares how amazing it is if it doesn't generate a customer.. If you have no idea what works then try them all and see what works. Once you figure it out from small scale testing, completely dump the rest of the strategies and focus on the one that works.
 

Chris90120

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Oct 17, 2014
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Just curious what would you consider to be a good service based business capable of generating a decent profit?
 

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OP
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458

458

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Just curious what would you consider to be a good service based business capable of generating a decent profit?
Anything that doesn't require trucks and tools is a good start. You want to focus on services you can provide throughout the US/world in a centralized office location or through remote contractors/employees that become centralized through technology like Salesforce & Slack.
 

jcvlds

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Anything that doesn't require trucks and tools is a good start. You want to focus on services you can provide throughout the US/world in a centralized office location or through remote contractors/employees that become centralized through technology like Salesforce & Slack.
Apart from having a higher capital investment [barrier], are there any other factors why tools/equipment is not a preferable play?

More complicated operations? More bound to local geographies? More labor intensive?


Sent from my iPhone using Tapatalk
 

Chris90120

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Oct 17, 2014
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The market is quite smaller here in Australia.... What would an example of a service you can provide worldwide?
 
OP
OP
458

458

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Apart from having a higher capital investment [barrier], are there any other factors why tools/equipment is not a preferable play?

More complicated operations? More bound to local geographies? More labor intensive?


Sent from my iPhone using Tapatalk
1. Depreciation
2. Replacement cost when they become outdated
3. Theft
4. Storage costs
5. Insurance costs for theft and injury

The list goes on and on..

Ps. Regarding trucks and tools, higher capital investment is not a helpful barrier that heightens your probability of success.
 

jcvlds

JC
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The market is quite smaller here in Australia.... What would an example of a service you can provide worldwide?
The market for what? .. Australia ranks top 10 in GDP per capita. People and businesses have money to spend/invest..


Sent from my iPhone using Tapatalk
 

eugenberzani

New Contributor
Feb 14, 2019
26
9
17
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
 

Ocean Man

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Update: Growing nicely still and should be at $100k a week within 3-4 months.
I'm curious, are you pocketing any of this money at the moment. Or is all of this being reinvested? You've been at this for a while now, and I know people tend to just reinvest everything they turn back into the business. I've heard of stories where people earned a lot, continuously reinvested in the company, but in the end, the company failed and as a result... didn't have anything because they usually reinvested all of it in their company.

Probably a simple question, but I honestly would like to know.
 

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OP
OP
458

458

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I'm curious, are you pocketing any of this money at the moment. Or is all of this being reinvested? You've been at this for a while now, and I know people tend to just reinvest everything they turn back into the business. I've heard of stories where people earned a lot, continuously reinvested in the company, but in the end, the company failed and as a result... didn't have anything because they usually reinvested all of it in their company.

Probably a simple question, but I honestly would like to know.
I will answer your question plus some perspective:

1. Yes, i have started taking money out of the company. This is only because the business is in a small niche and our growth ceiling is rapidly approaching.

2. Even if I wasn't taking money out and the whole thing failed tomorrow I would have learned an insane amount of knowledge that would allow me to quickly start over and get back to where i am and further much much faster. People that reinvest into businesses that are in such things like price arbitrage will definitely not learn much and ultimately fail with high probability over time.
 

Ocean Man

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I will answer your question plus some perspective:

1. Yes, i have started taking money out of the company. This is only because the business is in a small niche and our growth ceiling is rapidly approaching.

2. Even if I wasn't taking money out and the whole thing failed tomorrow I would have learned an insane amount of knowledge that would allow me to quickly start over and get back to where i am and further much much faster. People that reinvest into businesses that are in such things like price arbitrage will definitely not learn much and ultimately fail with high probability over time.
Thank you for your perspective, it's useful.

When would you say are the right times to consider taking money out of the business? When you're about to reach the growth ceiling?

++REP
 
OP
OP
458

458

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May 21, 2011
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Thank you for your perspective, it's useful.

When would you say are the right times to consider taking money out of the business? When you're about to reach the growth ceiling?

++REP
To give a more quantifiable answer; I would say when your annual revenue growth slows to 5-10 percent per year and adding more technology and/or payroll will not change this growth rate, it will actually decrease it because you have added more expenses without increasing revenue.
 

Damian Pros

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MJ DeMarco

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Thread upgraded to GOLD.

Considering I know what this business is (as a part of the vetting process for this thread I required it to be disclosed to me) there are some great insights here, especially if you're in sales or service.
 

JunkBoxJoey_JBJ

Reversed: Life is expecting from you.
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So nice to see a thread turned GOLD! Excellent.
 
Last edited:
OP
OP
458

458

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Thread upgraded to GOLD.

Considering I know what this business is (as a part of the vetting process for this thread I required it to be disclosed to me) there are some great insights here, especially if you're in sales or service.
Much appreciated sir!
 

eugenberzani

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Feb 14, 2019
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Thread upgraded to GOLD.

Considering I know what this business is (as a part of the vetting process for this thread I required it to be disclosed to me) there are some great insights here, especially if you're in sales or service.
Thanks MJ! You are truly inspiring and there is evidence of what you have done and what you currently do. The latest UNSCRIPTED really sheds some light on what is happening all around.

I wonder if you could maybe enlighten me in a case. Maybe I am wrong and if I am I want to be put right.

What would you suggest we (readers of posts in this forum) do when we see a post in GOLD and the person posting it is not showing us any proof of what he/she does except his writing. It is easy for me to come up with numbers and with ideas borrowed from other people and introduce them here.

I see it with this person you just turned into GOLD and with MTF which also is in gold. Not 1 indication of what they do is either online or anywhere else.

Thank you for your time!
Eugen Berzani
 

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