In today’s episode of The Sweaty Startup, Nick talks about the importance of starting a business small. Many entrepreneurs today don’t realize that what they are doing now isn’t necessarily what they’ll be doing in 10 years. It’s about momentum, not starting large and strong. Starting small is the best way to get wealthy.
So many businesses want to start with as much revenue and business as possible, but the first 5 or so years are all about building and growing your company. Nick’s first year of Storage Squad he brought in about $6,000 doing pick-up and delivery storage, and bought a $1,500 cargo van to operate with. Only after about 4 years did they get to $50k to $250k to 700k in revenue. Fast forward 10 years, and they own over 10 million dollars in self-storage and his partner and himself are each worth over 3 million dollars.
Nick knows plenty of people who are wealthier than he is, but he has the freedom to do what he wants, work when he wants to and create his own schedule. Nick considers wealth to be the freedom to do what he wants with his time. If you’re looking to start your own business, just remember that it may feel silly at first, but the small steps are what it takes to grow. Starting small and gaining slow momentum is the best way to grow your business. Listen for new opportunities, work hard, and don’t get discouraged when things feel slow. Put one foot in front of the other and opportunities will present themselves.