A sad truth:

50% of people are totally incompetent.

Terrible decisions. Unable to take on responsibility and very unreliable.

Another 30% that are nice, try hard and show up but don’t get much done.

The last 20% carry everyone and produce 80% of the output.
The sooner you realize this and try to surround yourself with that 20% and cut off the other 80% the better off you’ll be.

Trying to drag along the dead weight is a fools errand.

And the negativity that comes from the bottom group is toxic and contagious.
This sounds sad and it is.

You can try to change it and spend your life getting let down, frustrated and solving other people’s problems they refuse to solve themselves...

Or you can accept it as fact, adjust accordingly, prosper and be happy.
How to get rich:

Build a business with good enough systems that the 30% can come in and deliver a consistent product / service.

How to get filthy rich:

Build a business with good enough systems that the 50% can come in and deliver a consistent product / service.
Why most businesses fail:

They are founded by a 70 percenter.

Or by a 20 percenter who thinks everybody they hire is a 20 percenter.
If you’re into this and want more insights to build wealth or grow your business, join my newsletter:

sweatystartup.substack.com

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More from @sweatystartup

24 Mar
Every single person over the age of 50 cares the most about the same thing:

Their kids and grandkids.

Building a family is a sacrifice in your 30s. But you reap the rewards later.
Things I look forward to:

Teaching my boys to become good men.

Sharing business and adventure with them.

Experienced and memories.

And eventually a massive family gathering at my home when I’m 75 with grandkids running everywhere.
What is the point of building an empire (business) and a legacy (the rest of life) if you have nobody to share it with?

Your friends are friends and you can build deep relationships but there is nothing comparable to watching your offspring thrive and grow and succeed.
Read 7 tweets
21 Mar
My brother made $100k in his second full year running a lawn care company.

He works 32 weeks a year, 35 hrs a week. One employee.

His advantage:

Software.

His competitors use fax machines.

He uses a service called Jobber to handle his booking, quotes, and invoicing.
$99 a month and customers can request a quote on his website, pay online, and more.

It’s a game changer for him.

Jobber has an awesome event on Wednesday to help you become a better business owner:

bit.ly/3cT609l
Everybody wants to start the next scalable software company.

Why not apply some of that software to a sweaty, unsexy industry to carve out a huge competitive advantage?

Scale shouldn’t be the goal of every company (although it’s possible).
Read 4 tweets
21 Mar
Twitter is an insanely addictive app for folks with intellectual curiosity.

Where else can you get instant feedback on a thought from thousands of smart people?

And get a look right into the mind of business and thought leaders?

A thread on how it has impacted my life 👇👇
For years reading was the best way to get smarter / better / wealthier.

Books take years to write.

And reading them is a journey through a jungle hunting for small nuggets of wisdom.

And you’re in that journey with a single person so there is no dialog.
Now we learn from hundreds of brilliant people at the same time.

And big ideas are condensed in 280 characters by those who can put big ideas together in simple, understandable paragraphs.

And lively conversations develop around ideas and concepts.
Read 11 tweets
14 Mar
If I get to 100k followers today I’m donating $5k to @ResidentRelief.

Anybody want to match?
So far we’ve got matches by:

@mike_ivey
@TradesByMatt
@baldridgecpa

Let’s raise some money today! Who else wants in on the fun?
Let’s go!

Thank you everybody.
Read 4 tweets
11 Mar
A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges.

How it works: 👇
Depreciation is the act of slowly, over time, deducting the initial expense of an asset against your taxable income. Generally over a 27.5 (residential) or 39 (commercial) yr time frame. So each year you can write off 2-3.6% of the purchase price against your income.
Thats a big deal. We're buying a new property, a $3MM self storage facility. Thats a $60k a year write off against about $260k in NOI and 200k in cashflow on a $3MM deal.

It makes 30% of our cashflow tax free.

Very powerful but there is much more to it...
Read 19 tweets
6 Mar
Biz idea for scrappy youngster:

Full service beach supplies.

Use an app to load cooler, snack bag, select amount of chairs, type of speaker, number of towels, etc.

Would pay $300 plus to avoid the hour load / haul / setup / tear down.
The real advantage:

You get to avoid parking and all the stress that goes with that. Show up with the cruisers or Uber in.
There is no worse feeling than being half drunk, tired, kids grumpy, and have to tear down the beach setup and throw it over your shoulder to walk a quarter mile.

Then load it up three levels to the condo owners closet.
Read 4 tweets

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