351: Why Making Money is a Good Thing

It sounds bad, but the top priority when you run a company is making money. People will say that money doesn’t matter, but it absolutely does when you need something, and humans need something all the time. We need somewhere to live, we need something to eat, we need basic essentials to survive. You can play the status game, or you can shoot for the lowest-risk way to make the money you need to support your lifestyle.

Some people set their bar at creating a billion-dollar company, going public, or making a Forbes 30 under 30 list. These people need to compete with Stanford MBAs and venture capital money to succeed. But to me, $150K a year is freedom, especially if you can do it while working just 20 hours a week. By being realistic about setting my bar, I can play a game against weak competition with good odds of success.

The fact that I’ve made money and gained credibility shows how effective this approach can be. I worked for over ten years in the trenches building and operating, not doing anything game-changing or disruptive. People were critical at first, thinking that I was adding nothing to the world, but I played a different game to build the life that I wanted to build, and momentum took over.

Once you have some money and some credibility, you’ll find yourself in situations where you can make decisions with a ton of leverage. By operating a self-storage portfolio without in-person staff, I had a competitive advantage over other players, I was able to pay more for a property and still be more profitable than other operators. Good operators can play the game on easy mode. I have connections who will buy up local businesses in their niche, whether it’s body shops or delivery routes, and make a ton of money by operating them well because that’s their competitive advantage.

Your first business isn’t your endpoint, it’s not what defines you, it’s what sets you up to get the ball rolling. Once you get in the game and start doing a good job, you’ll find opportunities coming to you that allow you to compound and snowball after years of working in the trenches.

FREE PDF – How to analyze a property and know what it’s worth: https://sweatystartup.ck.page/79046c9b03

Join Mitchell Baldridge and Nick Huber, two leading experts in real estate investing and taxation, as they delve into the complex world of real estate tax strategies. Register through this link https://lu.ma/yjt2j85q

Check the show notes here: https://sweatystartup.com/the-sweaty-startup/

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Here are the links to my businesses: Business Brokerage – https://nickhuber.com/ Personal Brand – https://sweatystartup.com/ Self Storage – https://boltstorage.com/ Bold SEO – https://boldseo.com/ Insurance – https://titanrisk.com/ Recruiting – https://recruitjet.com/ Landing Page / Web Development – https://webrun.com/ Overseas Staffing – https://supportshepherd.com/ Debt and Equity – https://bluekeycapital.com/ Tax Credit – https://taxcredithunter.com/ Cost Segregation – https://recostseg.com/ Performance Marketing – https://adrhino.com/ Pest control – https://spidexx.com/

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About Me

I started the Sweaty Startup in December of 2018 because I believe the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship.