A rant.

Everyone looks at service businesses, let’s use a plumber as an example, and wants to help them generate leads.

“Nick plumbers suck at marketing! I can solve that problem! I can help them bring customers in the door!”

News flash:
Plumbers don’t have a customer problem. They have all the customers they could ever want.

They don’t need more leads!

What we need is more plumbers and landscapers and washers and cleaners and fixers!
Everybody wants to sit back on their computer and make money by doing something easy.

They want a scalable model. They want to work from anywhere. They want to take 1% of transaction to link two parties together.

This is ultra competitive. Low odds. Tough.
Want more customers than you know what to do with?

Do something that requires you to be face to face with someone.

Want to really crush it?

Do something sweaty and hard and not fun.

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More from @sweatystartup

6 Oct
Early in my career I held a lot tight to my chest - worried about others stealing my strategies.

Now I share as much as possible. Try to add value everywhere. Often without expectation or pay.

Since that shift my net worth and network have both exploded.

Not a coincidence.
Example #1.

I upset my partner by doing a mentoring session with a college kid who was starting up a direct competitor to Storage Squad.

3 weeks later he called me and tipped me off on a school contract he was pursuing but wasn’t big enough to take down.
He made the intro, we pitched the school, secured the contract, it’s now an extremely profitable branch.

Example #2.

About 2 yrs ago I was cold calling competitors in my area (self storage now) seeing if they wanted to sell.

I spoke to one owner and it turned into a..
Read 5 tweets
28 Sep
How to get rich without getting lucky:

Find a way to make $100 an hour doing something simple IN YOUR TOWN.

Do it until you have $10k+ in the bank and you’re too busy to sell new customers.

Hire employee for $25 / hr to do what you do so you can sell new customers.

Repeat.
Be willing to work and sweat and even maybe scrub toilets for 3-6 months.

Look at the market unemotionally. It’s not about you and what you love doing.

Don’t try to reinvent the wheel. Look at competition as a sign there is money to be made.
Compete with folks who run their business like its 1985 with secretaries, yellow pages, and cash.

Wrap in technology. Never take cash. Outsource accounting and get software for all other admin.

Turn quotes in 10 mins or less without site visits.

Book in 30 secs or less.
Read 11 tweets
23 Sep
I'm convinced that 99% of new business ideas are over-complicated.

YOU DON'T NEED TO BE DIFFERENT TO WIN.

Its about getting your slice of the pie. Go after a big pie and get your slice!

Don't try to invent your own recipe to a new pie and make it from scratch.
Its not about you and what you want to do and your ego and drive to change the world!

Do the common things uncommonly well and you can win.

In a lot of industries (home services) if you simply answer the phone and show up you can get your slice!
The passion projects are markets filled with selfish and delusional people.

The ones who love what they do so much they don't act as rational actors.

They'll stay open too long and with prices too low and smile the entire time.
Read 6 tweets
17 Sep
I'm convinced a lot of my success in life can be attributed to taking the path of least resistance.

I got a lot of advice like "do what you love, log 10,000 hrs, become an expert".

Horrible advice.

Instead, look at every decision like this:

What are my odds of success?
How successful is the person in the 50th percentile?

Pretty darn successful? Decent work / life balance if you do it right? Good opportunities from there?

Lets do it.

Unknown, broke, hoping for a big break? Or rich but throwing down 80 hrs a week and divorced?

No thanks.
The ability to put down the ego and realize I might not be in the top 5% of this field. Ever.

The ability to make unemotional decisions driven by logic and rational thinking vs dreams and desires and selfishness.

And being okay with not changing the world on day one...
Read 7 tweets
17 Sep
Spotted while snooping on Google Maps at storage facilities...

Two random people being kind to each other! Image
My partner makes fun of me but you really can get a feel for a town and its culture by driving the streets on Google Maps. Especially the gas stations.

By the time I get to the facility to meet the owner I know my way around town and how it feels. Weird I know! Image
I always check out the businesses downtown. And the amount of people out and about, parking spots taken, etc.

No scientific data here folks. But if you're looking at out of state RE, I think this practice is worth it. ImageImageImageImage
Read 4 tweets
16 Sep
On Sep 3rd we closed on a 120k sf glove factory built in 1890 in Gloversville NY.

Has 50k sf of self storage inside and is cashflowing $8k a month.

We used none of our own cash and received $50k on closing day.

A thread on creating $2 million out of thin air in 18 months...
First saw the property on Loopnet in mid 2018. I ignored it. Who wants to try to operate a building in an old factory in a dying NY town.

A few months later I reached out. Broker sent me financials. They were good. $25k a month in revenue and $10k in expenses.
So I visited the property and took this footage. It was old. Needed a new roof. Probably environmental issues. Full time manager. Only accessible to customers 9am-5pm M-S. No autopay. A lot of folks paying 1/2 market rent.

I loved everything about it.

Read 16 tweets

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