- Joined
- Jan 12, 2022
- Messages
- 28
Rep Bank
$245
$245
User Power: 43%
Current situation
Hi guys, currently I have a cleaning business and have been stuck for 3-4 months. It is a very high turnover industry and hiring+scaling takes a very long time. Most residential cleaning is like that, along with many regulations.
I currently am training a VA to handle customer service, rostering, quoting and invoicing. Once I scale a bit further I plan to use the profits from the current residential cleaning to invest into training a VA to continuously hire so that the hiring process can be automated too. My biggest problem is the regulations with the industry, I have to follow things like minimum hours worked, overtime, tracking travel time and kms. The current employee agreement regulation is just extremely confusing with many technicalities especially as someone with no legal background. Even as someone who has been in the industry for a while and spoken to others in the industry - a lot of them use subcontractors.
I have kept it as simple as possible for now, not even assigning any shifts on weekends, holidays, overtime because I know it'll just be too confusing.
I plan to move into commercial and use only subcontractors since there is much less regulation, but now I have a decent amount saved and kind of want to move into eCom,SaaS, or some type of digital platform business that is easier to automate and systemise.
New thoughts
I really resonated with the message in millionaire fast lane of getting rich QUICK, and I think the fastest way to do it is through eCom, SaaS or some type of platform/digital education platform. What are your thoughts on eCom vs SaaS vs online courses?
I think when it comes to business models they all have their pros and cons. Service businesses like cleaning are very low barrier to entry, but at the same time - low margins, a lot of management required, regulations etc.
I'm not too familiar with eCommerce, SaaS, online courses etc. but it seems like an area that is very fast growth. High margins, fast growth, little regulation. That is exactly the type of vehicle I'd like to be in. I'm assuming there will definitely be difficulties with these models too though, and they must have some downsides too but anyone with experience in these models - what are your thoughts on it?
Shiny object syndrome?
It may be a case of shiny object syndrome and many people & mentors in the online entrepreneur world have advised against starting multiple businesses. The advice I heard online is to just focus on one business. But prior to running my current business, I tried other business models at the same time and none of them really worked the way I envisioned. E.g. my 1st business that actually profited was a wedding videography business, which basically one and done, with no recurring profit and very expensive to advertise. So overall very unprofitable. Then I tried dropshipping with no success. I tried SMMA too for an entire year with only a few clients, none of them really staying for longer than 3 months. I'm grateful for the experience and I've learnt a lot at least attempting these different businesses, but I don't really agree with just sticking to one business. If I continued sticking to dropshipping or wedding videography I'd still be nowhere most likely.
Timeline
I started with SMMA Dec 2022 and now it has been an entire year, with very little to show for it. I've landed 3-4 clients. Overall made profit but have had issues with service delivery at times which I haven't been able to fix.
I started my cleaning business May 2023 at the same time along with my SMMA. Now I have a consistent clients, constant referrals and new clients. I feel that I have an actual business that I'm providing value in, and am growing in. Compared to SMMA and my videography business which I feel like a complete failure in and have made little to no progress.
If the goal of the Fast Lane is to get rich quick, and I've seen results even by splitting my focus then I don't think it's a bad thing to attempt other businesses at once. I hope this doesn't sound arrogant or anything, I highly value the mentors and the wisdom of other successful entrepreneurs but it has been too slow for me to just focus on one business, and I think I'd still be stuck if I kept attempting SMMA. I guess it depends on the person, some businesses just suit others better.
Hi guys, currently I have a cleaning business and have been stuck for 3-4 months. It is a very high turnover industry and hiring+scaling takes a very long time. Most residential cleaning is like that, along with many regulations.
I currently am training a VA to handle customer service, rostering, quoting and invoicing. Once I scale a bit further I plan to use the profits from the current residential cleaning to invest into training a VA to continuously hire so that the hiring process can be automated too. My biggest problem is the regulations with the industry, I have to follow things like minimum hours worked, overtime, tracking travel time and kms. The current employee agreement regulation is just extremely confusing with many technicalities especially as someone with no legal background. Even as someone who has been in the industry for a while and spoken to others in the industry - a lot of them use subcontractors.
I have kept it as simple as possible for now, not even assigning any shifts on weekends, holidays, overtime because I know it'll just be too confusing.
I plan to move into commercial and use only subcontractors since there is much less regulation, but now I have a decent amount saved and kind of want to move into eCom,SaaS, or some type of digital platform business that is easier to automate and systemise.
New thoughts
I really resonated with the message in millionaire fast lane of getting rich QUICK, and I think the fastest way to do it is through eCom, SaaS or some type of platform/digital education platform. What are your thoughts on eCom vs SaaS vs online courses?
I think when it comes to business models they all have their pros and cons. Service businesses like cleaning are very low barrier to entry, but at the same time - low margins, a lot of management required, regulations etc.
I'm not too familiar with eCommerce, SaaS, online courses etc. but it seems like an area that is very fast growth. High margins, fast growth, little regulation. That is exactly the type of vehicle I'd like to be in. I'm assuming there will definitely be difficulties with these models too though, and they must have some downsides too but anyone with experience in these models - what are your thoughts on it?
Shiny object syndrome?
It may be a case of shiny object syndrome and many people & mentors in the online entrepreneur world have advised against starting multiple businesses. The advice I heard online is to just focus on one business. But prior to running my current business, I tried other business models at the same time and none of them really worked the way I envisioned. E.g. my 1st business that actually profited was a wedding videography business, which basically one and done, with no recurring profit and very expensive to advertise. So overall very unprofitable. Then I tried dropshipping with no success. I tried SMMA too for an entire year with only a few clients, none of them really staying for longer than 3 months. I'm grateful for the experience and I've learnt a lot at least attempting these different businesses, but I don't really agree with just sticking to one business. If I continued sticking to dropshipping or wedding videography I'd still be nowhere most likely.
Timeline
I started with SMMA Dec 2022 and now it has been an entire year, with very little to show for it. I've landed 3-4 clients. Overall made profit but have had issues with service delivery at times which I haven't been able to fix.
I started my cleaning business May 2023 at the same time along with my SMMA. Now I have a consistent clients, constant referrals and new clients. I feel that I have an actual business that I'm providing value in, and am growing in. Compared to SMMA and my videography business which I feel like a complete failure in and have made little to no progress.
If the goal of the Fast Lane is to get rich quick, and I've seen results even by splitting my focus then I don't think it's a bad thing to attempt other businesses at once. I hope this doesn't sound arrogant or anything, I highly value the mentors and the wisdom of other successful entrepreneurs but it has been too slow for me to just focus on one business, and I think I'd still be stuck if I kept attempting SMMA. I guess it depends on the person, some businesses just suit others better.
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