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SUCCESS STORY: $3.7+ Million in Sales since 2012 (Service Business)

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SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
Hello everyone! New member of the forum, love the community and inspiration it provides and thought it was my time to join and contribute.

A QUICK OVERVIEW OF MY JOURNEY (so far)
  • Graduated college (no loans, paid by working hard in a trade before starting and working during school)
  • Got a sales job and quickly moved up the sales ranks and income ladder... company sold after 7 years of being there so had to figure out my next path.
  • Started a service based business in the live event industry at 33 yrs old that is still running & profitable (no debt, bootstrapped w biz partner). We have done over 3.7 million in revenue to date!
  • Now looking to continue learning while helping and ideally inspiring action in others. Hoping to inspire myself to new ideas and to improve my paycheck pots!
A QUICK OVERVIEW OF MY BUSINESS (I can't give too many specifics out of respect for my active business partner who isn't on the forums):
  • My business partner and I took action after deciding to start a business. We chose to enter an existing, proven market w/ a business that provides services to live events (an industry that was new to both of us).
  • After researching the industry, shopping and reviewing the competition, putting together a plan, along with tons of other things, we launched in our local market
  • Our first 2 years were about learning the industry, building market share and working our asses off
  • Fast forward to years 3-5, we updated our services based on industry insight/feedback and started providing them to events nationwide which was a big boost for income and opportunities. This shift nearly doubled our revenue!
  • Since then, we have been consistently profitable and are still learning and testing new things (many ups and downs along the way)
A FEW OTHER NOTES
  • This hasn't been easy, has taken a ton of work, and there have been tons of "Oh Shit" moments/days/months (they still happen). You have to trust your process and keep evolving/testing/learning and know when to change course.
  • We failed with other previous business ideas (but learned valuable things along the way).
  • We have an office with 3 full time employees and a few part timers (a biz dev rep, operations manager and event manager)
  • We mostly use white labeled software and have never developed our own (we did build some of our own equipment/hardware though)
  • We have worked with some amazing companies (some Fortune 500)/brands/agencies and have been seen at events like Super Bowl, SXSW, X Games, and major music festivals
  • Our industry is much more competitive than it was when we started, so we are constantly thinking of ways of differentiating and gaining new customers
SOME INSPIRATION
  • I am in my early 40s, started the business around 33 yrs old. I am a guy next door, am not a "millionaire" that is running on autopilot but am working hard (need to work smarter) to achieve the Fastlane/financial freedom.
  • I bought my first house in Scottsdale AZ at 26 yrs old, lived in it for 2 years, rented it for a few years, sold it for a profit. I bought my current house in San Diego at age 28 (was able to buy it thanks to working my a$$ off in my sales job out of college). Hoping this inspires others!
  • I would recommend a sales job to everyone. It provides a ton of valuable life and business skills and more importantly for me, at the time, it provided me an opportunity to write my own paycheck! These skills are invaluable once you start your own business (everything is sales).
  • I have friends and past business associates that have become multi millionaires through various businesses and they are no different than you and me! They took action, failed, got knocked down multiple times, got back up and kept charging to their goals. They, and others on this forum and elsewhere, provide me with motivation of what is possible in our amazing country (USA! USA! USA!)
If you made it through this post, thanks for reading and I hope it has inspired at least 1 person. Feel free to ask any questions and I'd be happy to provide any insight that I can!
 

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Champion

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Apr 12, 2019
426
375
129
Hamburg, Germany
Wow, great to hear your story.

Really admire how long you've been performing for...

Sometimes, its easy to forget that it isn't that easy to make millions and false expectations can lead you to run after quick money. You're definitely in it for the long haul though!

Best.
Champion
 
OP
OP
SD Entrepreneur

SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
Wow, great to hear your story.

Really admire how long you've been performing for...

Sometimes, its easy to forget that it isn't that easy to make millions and false expectations can lead you to run after quick money. You're definitely in it for the long haul though!

Best.
Champion
Thanks @Champion, would love to find that quick money idea but haven't yet, definitely a lot of hard work along the way...
 

Aix-Geneve

Contributor
I've Read UNSCRIPTED
Aug 4, 2017
42
23
44
France
Wow, great to hear. I am not sales orientated, so I find it a bit hard to relate. (I understand, though). I see myself as the "power behind" something, but not out there, extroverted. Glad you've found your niche.
 
OP
OP
SD Entrepreneur

SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
Wow, great to hear. I am not sales orientated, so I find it a bit hard to relate. (I understand, though). I see myself as the "power behind" something, but not out there, extroverted. Glad you've found your niche.
Hi @Aix-Geneve, definitely understand that sales are not for everyone. I do think that it can be really beneficial for introverts to get out of their comfort zones though. I managed a ton of sales people in the past and many had no sales experience and were introverts but were willing to learn and be trained.

There's always a need for the "power behind" things though but you'll have to market/sell others as to why you are the right person for that (so no escaping the sales)!
 

Aix-Geneve

Contributor
I've Read UNSCRIPTED
Aug 4, 2017
42
23
44
France
There is some truth in that. I was in sales for myself for around 15 years, and this was 20 years ago. It was a specialised product. We were reasonably successful and this has enabled us to move overseas and do other stuff. But it needs the right angle/hook. Likely for me, it would be something to do with intangibles, maybe psychology focus.
 

Robert25

New Contributor
Read Millionaire Fastlane
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Apr 3, 2019
11
14
19
San Diego
Hi @Aix-Geneve, definitely understand that sales are not for everyone. I do think that it can be really beneficial for introverts to get out of their comfort zones though. I managed a ton of sales people in the past and many had no sales experience and were introverts but were willing to learn and be trained.

There's always a need for the "power behind" things though but you'll have to market/sell others as to why you are the right person for that (so no escaping the sales)!
I agree with this 100% I used to be an introvert and then starting working in sales in 2013. Without even noticing myself, people began telling me how I seemed different and how much more outgoing I was all the time. It really helped to pop the bubble I was living in.
 

458

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
May 21, 2011
1,134
3,598
894
Why no debt? What are you currently grossing a month? Is everything streamlined and ready to scale?
 

Jeff Noel

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
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Oct 26, 2018
644
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Quebec, Canada
Are you living comfortably now ?

You could have $3.7M in revenue, but $3.6M in expenses, making it hard for both of you in the business to stay afloat.

You seem to be doing well, I'm just curious (I'm not asking for a number) if you're doing "okay" or "great" :)

Inspiring post !

Why no debt?
I'm also genuinely curious about your take on this matter.
You'd probably want to get in debt temporarily to scale bigger, right @458 ?
 
OP
OP
SD Entrepreneur

SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
Are you living comfortably now ?

You could have $3.7M in revenue, but $3.6M in expenses, making it hard for both of you in the business to stay afloat.

You seem to be doing well, I'm just curious (I'm not asking for a number) if you're doing "okay" or "great" :)

Inspiring post !



I'm also genuinely curious about your take on this matter.
You'd probably want to get in debt temporarily to scale bigger, right @458 ?
Hey @Jeff Noel and @458, thanks for the questions. We couldn't be profitable, have no debt and be in business if we had 3.6M in expenses. My partner and I both have families/kids, have been able to support them, live in SoCal and pay ourselves comfortably through the years due to our business profits.

I wouldn't say we are doing "great" yet though!

As for being streamlined and ready to scale, this is our current focus and the next step of the journey. We have spent too much time working IN the business and not ON the business. We are tossing around ideas that would help systemize everything and allow for us to scale further.

We both don't like being indebted to a bank, family, investors etc. so we have been putting money back into the business and have paid back some smaller debt that we had when we originally started. We also have over 500k in inventory/equipment debt free which should help with our scaling efforts.

"You'd probably want to get into debt to scale bigger?"- Good question and something to consider... obviously every business is different so it really depends on cash on hand, cash flow and other variables but this might be something we need to do to scale properly. I'll try to find other forum posts regarding scaling for other ideas and inspiration!
 

Jeff Noel

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 26, 2018
644
1,339
422
Quebec, Canada
Good question and something to consider... obviously every business is different so it really depends on cash on hand, cash flow and other variables but this might be something we need to do to scale properly. I'll try to find other forum posts regarding scaling for other ideas and inspiration!
I don't know if he's okay with that, but @458 could probably help you out. Check his huge thread, he answers questions over there:
 

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458

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
May 21, 2011
1,134
3,598
894
Hey @Jeff Noel and @458, thanks for the questions. We couldn't be profitable, have no debt and be in business if we had 3.6M in expenses. My partner and I both have families/kids, have been able to support them, live in SoCal and pay ourselves comfortably through the years due to our business profits.

I wouldn't say we are doing "great" yet though!

As for being streamlined and ready to scale, this is our current focus and the next step of the journey. We have spent too much time working IN the business and not ON the business. We are tossing around ideas that would help systemize everything and allow for us to scale further.

We both don't like being indebted to a bank, family, investors etc. so we have been putting money back into the business and have paid back some smaller debt that we had when we originally started. We also have over 500k in inventory/equipment debt free which should help with our scaling efforts.

"You'd probably want to get into debt to scale bigger?"- Good question and something to consider... obviously every business is different so it really depends on cash on hand, cash flow and other variables but this might be something we need to do to scale properly. I'll try to find other forum posts regarding scaling for other ideas and inspiration!
Ok but are you growing month over month?... What is your gross for June 2018 and June 2019?

If you are growing then taking on debt should be the least of your concerns, not the largest. Taking on debt is amazing if you understand how it works and can put the money to good use.

Ps. You can pay yourself out through debt, not sure who told you otherwise. Having kids and bills is not an excuse not to grow and take calculated risks. Borrowing money that goes into the business, is putting money back into the business..

A flower doesn't care if you got the water from the bank or the sky, water is water.
 
OP
OP
SD Entrepreneur

SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
Ok but are you growing month over month?... What is your gross for June 2018 and June 2019?

If you are growing then taking on debt should be the least of your concerns, not the largest. Taking on debt is amazing if you understand how it works and can put the money to good use.

Ps. You can pay yourself out through debt, not sure who told you otherwise. Having kids and bills is not an excuse not to grow and take calculated risks. Borrowing money that goes into the business, is putting money back into the business..

A flower doesn't care if you got the water from the bank or the sky, water is water.
Last year was our biggest year in part due to a really large project but this year is down over last year at this point. No one told me I couldn't pay myself through debt or that having kids and bills is an excuse not to grow and take risks... we have grown considerably since 2012.

Our challenge at this point is figuring out the best way to grow/scale the business moving forward but debt/loans might come into play depending on which route we choose... thanks for the input.
 
Last edited:

458

Platinum Contributor
Read Millionaire Fastlane
Speedway Pass
May 21, 2011
1,134
3,598
894
Last year was our biggest year due to a really large project but this year is down over last year at this point. No one told me I couldn't pay myself through debt or that having kids and bills is an excuse not to grow and take risks... we have grown considerably since 2012.

Our challenge at this point is figuring out the best way to grow/scale the business moving forward but debt/loans might come into play depending on which route we choose... thanks for the input.
You seem to be hesitant to post actual figures, how about percentage wise? What percentage are you off year over year?

Most people on here are just going to pat you on the back and tell you amazing job! I am not one of them.. I am going to ask hard questions because there helpful for yourself, it's a form of giving back even if you don't want to hear it..
 
OP
OP
SD Entrepreneur

SD Entrepreneur

Bronze Contributor
Read Millionaire Fastlane
Jul 12, 2019
72
117
122
San Diego, CA
You seem to be hesitant to post actual figures, how about percentage wise? What percentage are you off year over year?

Most people on here are just going to pat you on the back and tell you amazing job! I am not one of them.. I am going to ask hard questions because there helpful for yourself, it's a form of giving back even if you don't want to hear it..
As mentioned earlier, I won't post specifics out of respect for my active business partner. We're pacing about 80% YOY at this point. Didn't post this to receive a pat on the back, was posting in hopes of inspiring others to take action.
 
D

Deleted69818

Guest
Hello everyone! New member of the forum, love the community and inspiration it provides and thought it was my time to join and contribute.

A QUICK OVERVIEW OF MY JOURNEY (so far)
  • Graduated college (no loans, paid by working hard in a trade before starting and working during school)
  • Got a sales job and quickly moved up the sales ranks and income ladder... company sold after 7 years of being there so had to figure out my next path.
  • Started a service based business in the live event industry at 33 yrs old that is still running & profitable (no debt, bootstrapped w biz partner). We have done over 3.7 million in revenue to date!
  • Now looking to continue learning while helping and ideally inspiring action in others. Hoping to inspire myself to new ideas and to improve my paycheck pots!
A QUICK OVERVIEW OF MY BUSINESS (I can't give too many specifics out of respect for my active business partner who isn't on the forums):
  • My business partner and I took action after deciding to start a business. We chose to enter an existing, proven market w/ a business that provides services to live events (an industry that was new to both of us).
  • After researching the industry, shopping and reviewing the competition, putting together a plan, along with tons of other things, we launched in our local market
  • Our first 2 years were about learning the industry, building market share and working our asses off
  • Fast forward to years 3-5, we updated our services based on industry insight/feedback and started providing them to events nationwide which was a big boost for income and opportunities. This shift nearly doubled our revenue!
  • Since then, we have been consistently profitable and are still learning and testing new things (many ups and downs along the way)
A FEW OTHER NOTES
  • This hasn't been easy, has taken a ton of work, and there have been tons of "Oh Shit" moments/days/months (they still happen). You have to trust your process and keep evolving/testing/learning and know when to change course.
  • We failed with other previous business ideas (but learned valuable things along the way).
  • We have an office with 3 full time employees and a few part timers (a biz dev rep, operations manager and event manager)
  • We mostly use white labeled software and have never developed our own (we did build some of our own equipment/hardware though)
  • We have worked with some amazing companies (some Fortune 500)/brands/agencies and have been seen at events like Super Bowl, SXSW, X Games, and major music festivals
  • Our industry is much more competitive than it was when we started, so we are constantly thinking of ways of differentiating and gaining new customers
SOME INSPIRATION
  • I am in my early 40s, started the business around 33 yrs old. I am a guy next door, am not a "millionaire" that is running on autopilot but am working hard (need to work smarter) to achieve the Fastlane/financial freedom.
  • I bought my first house in Scottsdale AZ at 26 yrs old, lived in it for 2 years, rented it for a few years, sold it for a profit. I bought my current house in San Diego at age 28 (was able to buy it thanks to working my a$$ off in my sales job out of college). Hoping this inspires others!
  • I would recommend a sales job to everyone. It provides a ton of valuable life and business skills and more importantly for me, at the time, it provided me an opportunity to write my own paycheck! These skills are invaluable once you start your own business (everything is sales).
  • I have friends and past business associates that have become multi millionaires through various businesses and they are no different than you and me! They took action, failed, got knocked down multiple times, got back up and kept charging to their goals. They, and others on this forum and elsewhere, provide me with motivation of what is possible in our amazing country (USA! USA! USA!)
If you made it through this post, thanks for reading and I hope it has inspired at least 1 person. Feel free to ask any questions and I'd be happy to provide any insight that I can!
that was very inspiring. thanks for sharing it.
 

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