BC BIZIDEAS
Saved by @chamakta_choora

A thread on how to turn $100 into a lot more:

People are spending a lot of money on their homes right now. Its time to go get some of that money and help out some of these people.

Sound silly? Good.

It really is this simple sometimes.

Lets go 👇

 Get on your computer and buy a web domain.

Get a freelancer (upwork or fiverr) to make you a logo/flyer and get $45 worth of flyers printed at your local print shop.

Buy a box of sidewalk chalk if you really want to grind and get gritty.
Go downtown with the sidewalk chalk and write “pressure washing and home cleaning 888-555-1234” as many times as you can in high traffic areas.

Go to a middle class or high end neighborhood and hand out flyers on porches and wherever else.
Get creative. You might get ran off but its low risk. Target those with dirty payment.

Your cell phone will start ringing. Book all of the jobs for Saturday.

Rent a power washer Saturday morning with the other $50 and go make $300 in one day.
Do the same thing the next weekend and then buy a power washer. Then put $200 into a website and nurture a Google My Business location.

Get reviews, upload photos, make it look nice. 50% of your biz will come through here.
Make sure you pre-treat the concrete with a bleach mixture. It makes the job 2x as easy. Get some $1 gallons of bleach and cut it 1:5 with water in a 5 gallon backpack sprayer for $60 on Amazon.

Ask the customers nicely to use their water. Borrow Gma's Prius to haul the washer.
Make a youtube video introducing yourself and put your town and power washing in the title. Link to your website.

Make posts on Facebook Marketplace (this one is key).

Within a few weeks you'll be bringing in $1,000 every weekend.
When you hit $4k in a month its time to quit your job and get serious.

“On demand” is going to be your competitive advantage so you can charge a higher price. Make sure you can offer next day service or same day service. As soon as you get too busy to do that its time to hire.
Make sure that person is presentable and clean cut. Get a business polo shirt made at your local embroider.

Target students at first because they work hard and are reliable. They have summers off which is your busiest time.
Provide amazing customer service. Answer the phone every time and be in a super eager positive mood.

This along with the “on demand” nature will put you ahead of 99% of your competitors.
Make friends with realtors in town or watch the MLS and visit homeowners the week before an open house. A home looks a lot newer with a clean driveway.

Use google maps to measure concrete area and provide instant quotes over the phone. Put out yard signs with your logo.
Eventually buy a cargo van and have your own generator and water tank inside so you can be mobile and do more jobs and charge more money.
Grow from there. Start power washing entire parking lots for shopping centers.

Get the contract to do it twice a year for $15,000 per service.

You can get one of those big ride on power washers eventually and start doing larger commercial jobs.
As your company grows launch a branch in a neighboring city with a management hire. Then another city.

Sell the company or just cash the checks and sit on the beach with your family. You’ll likely get bored and end up building another business.
Side note:

I hired one of these guys to wash the exterior doors and walls at my Pittsburgh facility a while ago.

1 out of the 10 that I called could bring their own water.

3 weeks later he showed up with a crew of 2 folks. Took them 1.5 hours. Billed me $1,000. I was happy.
Don't like power washing?

This model works for any business (including my storage business we founded in 2011).

Here is a list of others to consider:

https://t.co/j73lX3rA0v
The big idea here:

Start SMALL.

Don’t try to change the world. Make that first $1000 and then level up. Then level up again.

Then you look back 10 yrs later and you’re making serious money and ready to change the world.
If you like this kind of thing you’d love my podcast - The Sweaty Startup.

I’m about to launch a private community on small business and entrepreneurship - get notified here:

https://t.co/FEt1sBoSWS

More from Nick Huber

Nick Huber
Nick Huber
@sweatystartup
THREAD:

I've been very serious about personal development for 10+ years.

But not just reading...

I've been putting the principles to work as I've grown and sold my business (7 figure exit) and built a real estate portfolio worth $20MM+.

Here are a few of my top takeaways:

20% of your customers will produce 80% of your profit.

20% of your customers will also produce 80% of your headache.

The sooner you learn THESE AREN'T THE SAME CUSTOMERS the sooner you can grow, scale AND experience less stress.

The 4 quadrants of time management concept changed my life.

Urgent + important is where stressed out owners spend their time.

Not urgent + important is where you add long term value to your company and your life. Its also the easiest area to push to the back-burner and ignore.

3 keys to hiring and managing great employees:

#1 Raise your prices (so you can afford them)

#2 Simplify the job so average employees can thrive (and killer employees can crush it)

#3 Give them praise in public (it means just as much as money)

Execution > Idea

Ideas are a dime a dozen.

Folks who are willing to do the work are a bit more rare.

Folks with the chops to execute well are extremely rare. And they are the true winners when it comes to entrepreneurship.
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Nick Huber
Nick Huber
@sweatystartup
Too many folks set the bar way too high with entrepreneurship. The next million dollar company. The next sexy startup.

Forget all that.

Why isn’t the goal to build something that pays you good $ every year and requires only a few hours of your time per week to make it happen?

When you start a business your goal shouldn't be to get an article in TechCrunch or raise VC $.

It should be to make $1,000 as quickly as possible with as little risk as possible.

Trade your time for money to test an idea.

Speaking of ideas.....

Business ideas are OVERRATED.

The only thing a brand new, world-changing idea will get you is an interesting Twitter bio and very shitty odds of success.

We only hear about the unicorns like Jobs and Musk.

The successful entrepreneurs in your town all have something in common...

They did common things uncommonly well.

They did something that someone else was already doing and they just did it a little bit better.

Young entrepreneurs hear the same advice over and over again...

Change the world. Do something you're passionate about. Thing BIGGER.

That advice is BULLSHIT.

Shoot for the stars and the odds you'll end up with a JOB.
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Advertisement
Nick Huber
Nick Huber
@sweatystartup
How you know you've made it:

You get to stop doing business with assholes.

No asshole clients.

No asshole partners.

No asshole investors.

In the early days, when you're hungry, you have to do what you have to do.

Bend over backwards for customers.

Deal with disrespectful partners.

Take investments from folks who don't have the same vision as you do and bend the terms to their liking.

As you build enough experience and wealth this slowly shifts.

And you can start firing the bad customers.

Breaking up with the bad partners.

And buying out the bad investors.

This is different than F U money.

F U money is the next phase...

It happens a few million later when you become one of the assholes.

Tip:

Get F U money but don't become an asshole.

This transformation happens through leverage.

When we start, we have none. Others have it all.

You have no negotiation power because they have everything YOU need and YOU are a commodity.
FINANCE
Nick Huber
Nick Huber
@sweatystartup
Want to know how to get brokers to bring you deals first?

Want to build a machine that can buy real estate while you play golf?

Have a very professional and organized METHOD for closing on a property.

It's a system. And here's how we do it.

A thread 👇👇👇

The thing is most sellers (that I deal with) have never sold a property before.

They don't know what to expect. They don't know how it works.

So they naturally have unreasonable expectations and there is a lot that can get lost in the shuffle.

And it creates stress.

And most brokers are working several deals at a time. And they aren't at liberty to tell a buyer how to do business.

So their hands are tied.

And for that reason a lot of closings are shit show. They are delayed. They end up with lawyers huddled up on Thursday night at 10pm.

And for that reason its YOUR JOB as the buyer to take charge.

Set the expectations.

Set the timeline.

And be a professional.

Step one:

Get a signed letter of intent that lays out the terms for your attorney to draft a contract with.

Step two (5 minutes after signed LOI)

Send out an email linking all of the parties and outline their role and a timeline.
BUSINESS
Nick Huber
Nick Huber
@sweatystartup
On Sep 3rd 2020 we closed on a 120k sf glove factory built in 1890 in a small NY town.

Has 45k sf of self storage inside and had $14k a month of net operating income at closing.

Let's breakdown this deal.

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 business in an old factory in a dying NY town.

A few months later I reached out. Broker sent me financials. They were good. $24k a month in revenue and $10k in expenses.


So I visited the property. It was old. Needed a new roof. 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.

But I knew they were going to have trouble selling this thing no matter the profitability, so on July 1 2018 I made a low offer. $750k + seller pays for new $250k roof + $20k in environmental work.

Countered at asking price + $100k credit towards roof.

I ignored the response.

Broker called me back mid September of 2018. Make another offer, he urged.

I knew it was a good biz so I got more aggressive - $1MM + seller pays for roof / environmental.

Declined. Countered with $1.2MM but they'd give me a new roof and do the environmental.
ECONOMY

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