I sat down with Dan and Max to talk about businesses we like and how we would market and manage them. If you are trying to learn how to start a startup in the USA there are three different business ideas that we mention that can make some good money. We also talk about qualities any entrepreneur will want to apply to their business model.
So many businesses lose out on making good money because they fail to be reliable, efficient, and professional. Max has encountered mobile mechanics that would show up and charge $150/hr, with a minimum of a 2-hour wait making most of the bills he’s received from these types of services close to $1,000 a pop. He’s also encountered mobile mechanic services that don’t answer their phones, adding to frustration and wasted time.
One of the biggest problems we’ve seen businesses fail at is professionalism. As a customer, you expect a business to be respectful, tidy, and efficient at what they do. I don’t want a repairman showing up to my house wearing a dirty shirt, smells disgusting, looks rough around the edges, and who’s there for five or more hours making a mess with my wife and kids around. If you want to market yourself and have a successful mobile detailing business, the easiest solution is to answer the phone (be reliable), be efficient, and be professional.
For eager entrepreneurs, there is money to be made as a mobile mechanic. Commercial trucks and vehicles break down all the time. That means there is a constant need for mechanics to come out and repair broken-down cars and trucks. With just a few simple tricks such as offering to jump a dead car battery for free, and then mention the other services you provide while you’re out helping a client, it’s really easy to market yourself as a reliable professional. And if you’re just getting started you can save money by buying a used van for business.
Airbnb Property Management
Next, Dan talks about Airbnb property management–an untapped market potential. You may not be interested in owning and running an Airbnb business, but there is money to be made through managing Airbnbs for others. Dan shares that in a signal year an individual can earn 20%-40% of what an Airbnb owner makes by managing Airbnb properties that you don’t own. He also adds that doing so doesn’t take a lot of work. You don’t have to do the cleaning or maintenance. Instead, you would be outsourcing those services and adding the fees as part of the renter’s cost. All you have to do is take pictures, communicate with the renters, and set up a schedule for when people will stay at a property. You will need to find and talk to those who own the actual real estate, but you can market yourself by looking up Airbnb listings and handing out fliers to these owners. You can also talk to those you know who own a listed Airbnb. It’s the perfect way to make recurring revenue without having to put in a ton of effort.
The last business idea we discussed as part of this podcast is to go into a trade within the construction industry. Construction is so far behind the times that you can find major success by answering the phone, sending quotes, looking someone in the eye, and shaking their hand. There are many trades to get involved in, like plumbing, drywall, tiling, and electrical. I find that electrical is better since it requires less physical labor, which will take less of a toll on your body than the other trades. However, my personal favorite is a general contractor, helping people build their vision of what kind of construction project they want done. From there, you hire and pay companies to come and construct it while taking a cut of 10%-15% by just managing the project. In the trades industry, these people are not familiar with marketing, running a business, managing a website, or making sales. And they don’t consider themselves entrepreneurs. These are the types of people you’re competing against in this type of industry.
Three Key Takeaways
- If you can be reliable, efficient, and professional, you will do exceptionally well financially as an entrepreneur.
- Market yourself the right way. Many companies don’t! Not only is being reliable, efficient, and professional a great strategy to market your business, but so is simply connecting with people, looking them in the eye when talking with them.
- You can make easy, recurring money by managing properties and projects with little to no effort.
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