3 things my co-founders and I did, to make sure a strong partnership was built -
1. Shareholders Agreement: I recommend this for everyone who is going into a business with partners.
You do not want to build a partnership on assumptions.
Cont...👇👇👇
2. Company Roles - We each were transparent about our roles.
We each have strengths and interests and we really focused on those. We created roles and job titles that were based on those strengths.
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We understand that we each will be wearing many hats at the beginning of our start-up but being transparent of responsibilities is important.
3. Weekly Goals and Monthly OKRs - Everyone has weekly goals and OKRs that are set for something to work towards.
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If you don't have goals or objectives to work towards in the early stages of a start-up it's hard to stay motivated.
The daily grind can get to you so keeping everyone accountable through weekly goals and OKRs is a great way to build support and motivation.
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$50k/Months and Only Spending 10 Hours a Week Working, HOW?
Seriously, I only work 10-15 hours a week...
Let me show you how you can do this as well!
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1/ The residential cleaning industry can be INSANELY LUCRATIVE but it is by no means easy and it takes a ton of work.
It took me 4 years to get here. BUT I believe you can get here WAY FASTER than me if you put some good systems in place.
2/ I have -
NO assets
NO equipment
JUST cashflow focused
I contract out 100% of my house cleaning customers. I focus on mitigating as many expenses as possible all while trying to generate as much cash flow as possible so I can invest that into new biz ventures and assets.
For every RT this gets I’ll post a comment with some advice/tips about the Cleaning Industry.
Residential and Commercial! 🙌🏻
Also if you have a specific question like and leave a comment below and I'll answer it as well.
#1 Hire Earlier rather than later.
If you have over 5 contractors and you are doing on average 3-4 appointments a day you need to look into hiring a "Quality control manager" or an "ops manager"
Quality control is the most important thing and its one of fastest things to go
2/ In August and September combined, I did over 100/1-hour zoom meetings for consultations. I met with people daily interesting in launching or growing their cleaning business.
Playing College Sports Helped Me Directly In Entrepreneurship.
In my senior year of high school, I was recruited to play Lacrosse at an NCAA Div II college in North Carolina.
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1/ The online hype talking about not going to college or university and trying to become an entrepreneur right out of high school is 100% cringe and it really isn't the right route for the majority of people.
2/ I truly believe I learned some of the most valuable skills through being a student-athlete and these skills directly translate to entrepreneurship.
Low barrier to entry, old school businesses are my favorite and I want to show you why.
Let's break it down 🧵
1/ You have the ability to launch an STR Management business with as little as 10k and I honestly believe it could be done even cheaper if you really wanted to bootstrap it.
Some Transparency - I am new to the STR Industry and...
2/ I am launching a business this year BUT I do have an eye for bootstrapping and launching businesses in old school industries.
So let's break down exactly what I did to launch my STR Management business with under 10k capital.
$40-45k/Month Gross Rent - Collecting 25%!! THAT is what I was missing out on!
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1/ I never realized how many opportunities were in the STR Management space.
Are the rates and demand 100% in correlation with the location I'm in? YES. I am fortunate with my location.
BUT I honestly believe that you have the ability to do this in most cities.
2/ I came to this conclusion by cleaning many different vacation rentals. In an average summer, we do around 20-30 vacation rental cleaning turnovers in a week.
I started noticing that we were handling a ton of the management...