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You’re not going to save your way to being a millionaire.
It’s time to start making money.
A penny saved is not a penny earned.
Now, many people will tell you this. Their argument is, “A penny saved is MORE than a penny earned!”
You may think this is smart, but this is still how poor people think. Poor people save money. Rich people make it.
Here’s how I see it: don’t waste time picking up a penny when you should be making a dollar.
Would you rather save $100 or make $1,000 dollars?
It’s a difference between scarcity and abundance mindset. Creating wealth vs. stockpiling it.
How do you create wealth? You solve problems.
Look around you. There are problems everywhere. Most people are blind to them. Most people only see their own problems—and then they pay someone else to solve those problems.
You need to become a person who recognizes the many problems around you on a day to day basis and makes a point to solve them. Solve the house-on-fire problems. Solve the problems people have to have solved.
Open up your second set of eyelids and start to see the problems around you. These problems are your opportunity.
Highlights, Takeaways, Quick Wins
- Stop spending time picking up pennies when you could be making dollars.
- The best place to make an investment is in yourself by starting a business.
- People with an abundance mindset look for opportunities to create wealth.
- Take so much action that you’re creating new problems.
- If you are making money, expenses are not the problem.
- It’s not about dismissing expenses, it’s about making so much money that expenses don’t matter.
- You won’t save your way into being a millionaire.
- Find out what people are willing to spend money on.
- If you want to be wealthy, you have to go out in the world and solve problems.
- Figure out how you can apply your passion to solving problems people need solved.
- 07:16 Sean: Matt, are you at liberty to talk about what you’re working on? He told me on the phone what he’s working on behind the scenes and I thought he wouldn’t have time to do the show anymore, but he said it was important to him.
- 07:45 Matt: I see Lambo Goal as my full-time gig in the future.
- 07:57 Sean: Why do you see it as a big focus for you?
- 08:01 Matt: I want to give back and I want put out all my experiences to help people get to their Lambo Goal. We’re in the process of bidding some military contracts in the seven and eight figures, including one that’s $85 million. We’re working with another company that’s helping us put together a huge bid—think three times longer than the Bible. One of the contracts is warehouse fulfillment for AT&T.
- 10:42 You might be wondering why I’m doing this since I’m in real estate. I partnered up with some people who have experience in this kind of thing and they want to learn my trade, so we’re bartering our knowledge. I also have a lot of manpower, so they’ll be using that and their connections to get these contracts going. I have no idea what I’m doing, but I’m learning as I go and my mentors have been awesome. It looks like we’re going to win a $9.5 million contract by the end of July as well, so I’m hoping to break $10 million this year.
Set Bigger Goals
- 12:00 Sean: You’re allowed to set big goals here. My personal goal—the Lambo Goal—is that I want to buy a Lamborghini in cash, which is about $400,000, but I only want to buy it in cash when it represents 10% of my money, which means I have a $4 million goal. Matt has a $40 million goal.
- 12:33 Matt: The way I do my money in my business is that I get 10% of whatever we make, so $4 million would be my commission off $40 million. I won’t get 10% off $85 million though. There’s a lot of expenses. I’m not getting $9.5 million off this contract if we win, I’ll get $2 million. I want my company to make $40 million and I get $4 million of that, which I’ll buy a $400,000 car with. I’m not trying to be greedy. It’s not about being a multimillionaire. It’s a game for me and I feel like I’m winning, but I feel like I still have a long way to go. The $40 million will just be another stepping stone.
- 14:04 Sean: To me it’s pretty obvious it’s a game to you. If we’re talking about seven and eight figure jobs, you could be making that money instead of sitting in the chair here doing this show for people. I think the reason you’re doing this is because it’s fun for you and you do want to help other people get into this. You want to help people achieve their goals. After all the news of how busy you are, I didn’t expect you to want to come back and do the show.
- 15:49 Where did all of these contracts come from? The last I heard, you were dealing with more real estate contracts that were $10,000 here or a million there. What changed for you? What are you hearing from your mentors?
- 17:29 Matt: I got a phone call with an old friend that I used to play ball with in high school. He had run into my dad and my dad told him what I was doing so he wanted to catch up with me. He used to be in the military and got hurt so now he’s classified as a disabled veteran. He was getting money from the government and wanted to use that to start up a business. He went to the Small Business Administration and asked what a disabled veteran like himself could do and after looking through their list, he decided to bid on a government contract in December of 2015 while he was still trying to figure out what kind of business to start.
- 19:54 When you bid on these contracts, you have three months before you have to start them, so you have three months to gather your company even if you have no company. He ended up winning a lawn maintenance bid for one of the military bases. The government likes to push up companies owned by disabled veterans, so his company was pushed up and he won that first bid for $9.5 million for two years.
- 20:49 Sean: He didn’t have the guys or anything?
- 20:53 Matt: He had no company! He started it in December and in January, he won the contract. He told me he didn’t even really know how to cut a lawn! He decided to contact the company that used to do the lawn and made a deal with them—they get 75% of the profits and he gets 25%. He told them he still wanted to be involved with the business though and to have the authority for him to tell the guys to do stuff. Who’s going to turn that down? He did it! He has no employees, he just 1099’s this company and he walks away with a fat check.
- 22:40 Then, he thought, “What if I could do this again and again?” He’s investing his money in different things like restaurants, but he wanted to do something with me since I know how to do all this stuff and I have the manpower. Long story short, we decided to partner up and start bidding on different contracts. Once we did that, I started thinking about not doing Lambo Goal, because I would have to do a lot of traveling for these contracts. A lot of the contracts were going to be in Austin, Dallas, and Houston. I talked to this guy about making sure to have a chill day to do Lambo Goal since I don’t really get to enjoy the weekends. He totally understood because he works all weekend too. I asked him, “Are we doing this?”
We All Have 24 Hours in a Day
- 25:52 Sean: I had someone email me asking what the, “Are we doing this?” is about at the end of the show. Really, every day you have to decide for yourself if this is something you’re going to do. Every day you have to stat fresh and make a commitment—am I really committed to doing this? That’s kind of what we’re asking ourselves at the end of the show.
- 26:38 Matt: If we’re going to do this, we’re going to do it to the best of our abilities. That was something I asked my friend, because this rabbit hole is deep and it’s going to be a lot of work. I told him I get four to five hours of sleep a night and he said he gets three! I said, “Let’s do it then!” I told him:
I usually win at everything I do because I out-work everyone else around me.
- 27:24 I said that if we do win and do make this money, what would you do with it? I don’t want people on my team that are going to go buy boats and houses right off the bat. I wanted to know where his heart is. I told him about Sean saying that reality will align with his mindset. I asked him, “When reality aligns with our mindsets and we do land an eight-figure bid, what are your intentions with that?”
- 28:23 He said, “I want to build wealth for my family and friends, and I want to share that wealth with people.” That’s what I believe. I don’t care amount the amount of zeros. I honestly want a Lamborghini, a house, and for my family to be happy. I want the people around me to be able to get ahead and I would like to have the resources to be able to provide that.
- 29:06 Sean: I would like to be able to wake up every day and work, do what I enjoy doing, and get paid for it. I also want to have all the things I need without worrying about money. The way I operate is hardcore saving. I don’t like to blow money, but when I buy things, I buy nice things. I don’t want used, hand-me-down, or the off-brand. I don’t want the crappy version that’s going to break and make me buy three of. When we first got married, the couch we had was borrowed from my uncle when he was overseas and when he came back, he took the couch back and we sat on the floor.
- 30:06 Our mattress was on the ground when we couldn’t afford a bed. Laci’s car with 200,000 miles on it broke down right after we got married and she couldn’t drive my car with a performance clutch, so I drove her places. We didn’t want to go into debt or get something that wasn’t good. We would rather sit on the floor, work hard, save our money, and invest in the things that are good.
The Lambo is a representation of being able to achieve what I set out to achieve.
- 30:47 Whatever I put my mind to, I can achieve it and I’m going to work hard now until I can get that. That’s how I like to operate. For me, having the goal isn’t really about the exotic car, it’s about representing to myself that when I work hard and apply myself, reality does align with my mindset. Beyond that, I don’t really care.
- 31:18 We just moved into a new place that’s twice as big as our old place because we needed the room, but I don’t care much about the rest. I was a hand lettering artist making six figures a year, so I was fine. I saw the problem of thousands of people wanting to learn to do what I did and in solving that problem, I found that what really fulfills me the most is helping other people achieve what they want to achieve.
- 32:13 Matt: That’s the best thing ever. When I was sitting at a coffee shop this morning, a guy leaned over and asked if I was working on school. It’s six o’clock in the morning, why would I be here working on school then? I told the guy I was working on an $85 million bid. He said, “I would give up anything to have something like that.” I said, “Ask me what I had to give up to get to this point.”
- 33:16 It cost 10 years of my life of non-stop discipline and dedication every single day. I didn’t slack one day. Every day I did something to work toward this goal. I lost a lot of friends and ruined family relationships. I have to designate time to spend with my wife. If you’re willing to lose everything, it just takes dedication.
- 34:19 Sean: We were talking in the Community chat about this yesterday. Some people compare themselves to me and Matt, but you can’t do that. you can’t compare yourself to anyone, like people you follow online or Gary Vaynerchuck. You only see their output, the results of their effort, you don’t see the sacrifices and the problem is you’re not comparing your sacrifices to their sacrifices. We all have 24 hours in a day.
If someone else is accomplishing more than you, they’re sacrificing more than you.
The only person you need to compete against is the best version of yourself you know you can be.
- 35:04 If you want to be successful at something, your list of things you’re saying no to needs to be a mile long. Responding “no” has to be you default. Don’t compare to anyone else, compare to the best version of yourself that you know you could be if you really applied yourself and sacrificed.
- 35:37 Matt: That’s when I told the guy in Starbucks this morning. The more you give up and the more you allocate time for what you’re investing in, the more return you’ll see. It’s not all about the money. There are a lot of things I do for free right now, but the payout will be later down the road. What gets me hyped about Lambo Goal as opposed to making millions, is hearing other peoples’ stories and thinking about what they can do to reach that Lamb Goal. For me, that’s what I would rather do than have fancy cars and yachts.
Investments vs. Expenses
- 37:56 Sean: I wanted to get Matt’s take on making money vs. saving money. I thought it was interesting that the military guy you’ve been in touch with was getting money from the government. Growing up, everyone is told to save their money and “a penny saved is a penny earned.” I like to say:
Stop spending time picking up pennies when you could be making dollars.
- 38:56 This guy is getting money, but instead of sitting around, he starts a business. It’s, “How can I make more money?” not just saving it.
- 39:11 Matt: Whenever I think about it, it makes me so excited to see other people think the way we think. I love it when people save so they can invest in their future. It blew my mind to see this guy invest in himself. He did this himself. He got $25,000 from the Army and when most people get $25,000, they want to buy new cars, trips, dinners, drinks, and parties and then it’s gone. It was so impressive to hear he used all of it as the capital for his business, even though he could have bought iPads or something.
- 40:36 Sean: We’ve said it before: the best investment is in yourself. Growing up, my parents didn’t talk about money that much. Unfortunately, I think that’s the case for a lot of people. They’re not educated about money. You pick up things about investments anecdotally. The only investment I had ever heard of was this vague notion of the stock market. You can put money in the stock market and it’s a little like gambling, but smarter and maybe you get a bunch of money back. That’s what I thought investments were. Most people, when they think of investing or saving and trying to make more off of their savings, that’s what they think of. You put your money in something and let it sit there and maybe you get some back.
The best place to make an investment is in yourself by starting a business.
- 41:35 That is where you will get the best return on your money. Spend $1,000 on yourself and you get $100,000 back, not $1,200 a year or two later.
- 41:45 Matt: People are always telling me they don’t want to put the time into starting a business. I use my military friend as an example: he made $2 million and he has no employees, no office, and no overhead. He has a company vehicle, but that’s it. You can play your cards smart and make large sums of money without doing anything.
- 42:16 Sean: Matt, when it comes to minimizing your expenses vs. making more money, how do you approach that? If you think, “We could use some more money,” do you audit your expenses—where to make cuts—or do you look at making more money?
- 42:39 Matt: We have someone who monitors all of our expenses now and if there’s an excess of spending for whatever reason on certain things, it’ll be brought to my attention. It’s probably not necessary to spend $570 a day on food because we’re not in charge of feeding people, so we’ll cut that down. Sometimes we could use more people, equipment, or vehicles and those are investments, not expenses in my mind. It goes both ways. We do have budgets because I like to be cheap. We’re trying to get the maximum return we can, so we try to spend our money to make money as best as possible.
- 44:11 Sean: I like that you have someone dedicated to the minimizing of the expenses. Not everyone is in the position to have a person to do that. A lot of us working for ourselves are the one person who does everything. We’re handling the accounting, minimizing the expenses, and going out and making money. When you’re that one person, it’s really easy to get caught up in spending your time auditing your expenses. You’re wondering if you can bring $200 a month of spending down to $100 by going with another service or downgrading.
- 45:00 I tend to go on the offensive. A lot of people want to save $100, but I want to make $1,000 and then go back to save $100. You want to get to a place where you don’t miss a $100 bill. You make so much that you don’t miss it. Like Grant Cardone talks about, you want to create new problems. Take so much action that you’re creating new problems.
- 45:43 You don’t want old problems. Make so much money that you have new problems. Make so much money that you have to hire someone to manage it. Make so much money that you need to hire more guys and then your problem is, “How can we hire so many people?” and you get someone to help you hire them.
- 46:05 Matt: Prioritizing took me a while to get when starting my business. I used to use an online service where you connect your bank account and credit cards so you can watch business expenses, and I got so depressed seeing where all the money was going. I should have been focusing on getting more contracts, making connections, growing, making more work, and trying to make more money, not look at something I can only change a little bit. I could have made $1,000 in the hour I spent trying to save $100.
Focus on Making Money
- 46:50 Sean: I feel like there’s a lot of people, especially in the early stages, that are too focused on the optimizing or auditing of expenses. They’re making these little optimizations that are making them pennies or dollars, but not thousands of dollars. Why aren’t you focusing on getting more people in, selling more products, or increasing your prices? I think you should be in client services because it’s a quick way to make money—you do work and you get paid.
- 47:39 A lot of people starting out want to get into products, where you have to have a minimum manufacturing run of 500, shipping, and packaging. The margins are bad. It’s a long-term investment and you’re not profiting until years in. People are creating courses because they have expertise and knowledge, but they don’t have money coming in. Making a course is an investment. The Value-Based Pricing course took us two years of work.
- 48:31 Do you think we were getting paid during those two years? No! We had to make money somewhere else to afford us the luxury of spending time on something we aren’t going to get paid for years on. Products and teaching will eventually make money, but they’re long-term investments. It takes time for that money to come back. You want to make money now, and the fastest way to make money now is client work. You can even get paid before you do the work and then get paid the rest after you do it.
- 49:02 A lot of people think if they want to make money with clients, they have to work more or get more clients. That’s one way, but another way is to charge them more. Charge fewer clients more so you can make more money and have more time. The problem with this is that people have Imposter Syndrome. How can I increase my rates? Aren’t my clients going to look at someone else who can do it cheaper? What if they don’t think I’m worth it? That is what Value-Based Pricing solves.
- 49:39 This is what we teach. We help you get out of the commodity barrel and to position yourself as an investment to your clients. We’re all looking to minimize expenses. If we see an expense we don’t want or it’s too high, we want to get it down. What do we do with a good investment? We want to sell everything we own for cash to put it into the investment. If this investment is a good investment, we’re going to get more money back. The great clients know they have to spend money to make money.
- 50:28 They’re looking for a good investment. Value-Based Pricing is a value discovery process. We help you figure out what the project is worth to your clients and then you price a fraction of it. You position yourself as a no-brainer to them. If you work with clients like this, you can work with four clients a year and make a hefty six-figure sum and you’ll have time to invest in all the other things you want to do.
- 51:09 Matt: It’s possible, you just have to know how to do that and position yourself.
- 51:38 Sean: Robert says, “I understand what you’re saying about earning vs. pinching pennies, but you also have to have a certain baseline level of discipline with respect to handling your business expenses. Lifestyle creep can happen in business as well as your personal life, you don’t want to let your expenses grow in proportion to your revenue growth.” That is true, but:
If you are making money, expenses are not the problem.
- 52:09 Yes, you don’t want it to grow in proportion to revenue growth, but if you’re making money, taking enough action, and prioritizing making money, it’s not going to be proportional growth. Even if you have slightly padded expenses—say your expenses could be 100%, but they’re 150%—it doesn’t matter if you’re making way more. If you’re spending your time optimizing your expenses, you could be spending your time making way more than the amount you save.
- 52:44 When you make way more, you create new problems, which is a good thing. Then, you can hire someone to audit your expenses. Then, you’re doing so much that the extraneous expenses you had are actually now too small. Now, the service you were going to downgrade is too small because you’ve focused so much on your money that now you’ve grown so much and even those expenses are too little. You actually need more food, or lawn mowers, every day, Matt. You’re cranking out the lawns and selling the houses.
- 53:26 Matt: I think that as long as you’re working, you shouldn’t have to worry about running out of money. If you’re working efficiently, like you should be running a business, and you’re not blowing money in every direction, you shouldn’t have to worry about that. You should constantly be worrying about taking care of the work in front of you.
- 53:47 Sean: It’s a prioritization thing—focus on the money. Make the money first. It’s not an either/or thing.
It’s not about dismissing expenses, it’s about making so much money that expenses don’t matter.
- 54:04 If you ever find yourself sitting around and bored, then go audit your expenses. If you’re focused on making money, expenses are not the problem.
- 54:19 Matt: I understand in the beginning it can be a little more difficult. You may have expenses and no for sure work, but put in the time in to get more work. What I’ve learned this year and that has tripled our income is how to make more per customer, so you’re not having to work as much. This applies to every industry—how do we make the most we can from a customer with the services we offer?
Abundance Mindset vs. Scarcity Mindset
- 55:15 Sean: I want to talk about the difference between abundance mindset and scarcity mindset and how it plays out here. Poor people thinking is to save and optimize whatever they currently own and whatever money is currently coming in. How can we allocate this? People with an abundance mindset are the wealthy people. They live in a world where wealth can be created.
People with an abundance mindset look for opportunities to create wealth.
- 55:55 They say, “How can we 10X this? How can I take this business and expand it to another city or state? How can I apply this model to not just lawns, but window cleaning and pressure washing?” They expand it and they have abundance. Everyone else is thinking in terms of scarcity. They’re thinking, “This is what I have and if I want to have more money, I have to optimize what I have. I need to save carefully and make sure everything goes in the right place.”
- 56:29 That’s just not the way to create extreme wealth. You won’t save your way into being a millionaire. Yet, that’s what all of us were told growing up! Save, save, save and when you’re 68, if you have 401k and money in the stock market, maybe one day you’ll have a million dollars! I have news for you: a million dollars isn’t a lot of money.
- 56:55 Matt: I can tell you first hand that it goes quick, especially in a business.
- 57:00 Sean: There’s all kinds of things you have to pay for and 30% or 40% of it goes to taxes immediately. You have new problems at this level. You can’t live the kind of life you think you want to live from age 68 to 90 off of that kind of money. You think a million dollars means you have a mansion from age 65 to 90 and that’s not what it’s going to be like. You can’t keep thinking at those levels and you’re not going to save your way to a million dollars with that way of thinking.
- 57:35 You have to think in terms of creating the abundance and the wealth. You have to go out and look for opportunities. What are the problems in this world you can solve? Be proactive! Open your eyes! There’s another set of eyelids we all have that most people keep closed. They’re walking around blind. There are problems all around you, but you’re walking around in your little bubble wondering who’s going to solve your problems. Everyone thinks like that and then they go to the store and buy things from people who think bigger and solve those problems.
Think Like a Problem Solver
- 58:26 Stop thinking like a problem creator, open your second set of eyelids, and look at the problems around you. You’re going to pay someone to blow the leaves off your drive way. Why don’t you be the one to knock on your neighbor’s doors and charge to blow off their drive ways every month? Look for problems and solve those problems! Stop looking at your current income streams and optimizing them. Don’t look at getting rid of Netflix and downgrading your MailChimp account to save $300 a month. Stop thinking like a poor person with a limited mindset. Think in terms of abundance. Matt, when you were walking from your car to my house, what problems did you see?
- 59:57 Matt: I think about business, but everywhere I go, I pick apart landscapes and construction that I see. I always tell my guys that I don’t want to hear problems, I want to hear solutions, and you should be thinking that everywhere you go.
- 1:00:22 Sean: We value the solution makers. Don’t come to me with problems, come to me with solutions! Matt, you have enough problems, so if someone tells you something is broken, what are you thinking about this guy?
- 1:00:54 Matt: That he better start looking for another job because he shouldn’t be calling me for that. He needs to call someone to fix that.
- 1:01:07 Sean: Solve the problem. The people in our businesses that solve problems are people we see as valuable. The people that tell us about problems or create problems are just an expense to us. We don’t want problem creators, we want solution makers. We want people who are solution-minded and want to make things better and solve problems. Everyone is sitting in their own set of problems and they’re paying other people to make them go away.
If you want to be wealthy, you have to go out in the world and solve problems.
- 1:01:51 Matt: When you go into a group setting and people are telling you different problems, are you agreeing with them or are you thinking about what you would do if you were them? I was telling my mentor that I can’t hang around kids or even people my age that talk about video games and stuff, because that’s not something I can fix.
- 1:02:43 You should be able to be in a group of people and start solving problems in your head, so when you’re around professional people and they’re telling you about their business problems, you’ll get to the point where you can come up with different solutions. People will automatically think of you as a problem solver then. If you eventually have a business and you’re solving problems, people will automatically refer people to you and it starts a snowball effect of being seen as a professional in your industry.
- 1:03:38 Sean: I hear people say, “I bought this from Target and I saved $20.” There are two kinds of people here: the people who get excited when they spend money that they supposedly saved and then there’s people who look at that situation and think, “That business just made $40. I want to be that business.” I want to be the person who made $40, not the person who spent $40 and is excited that they didn’t spend $60.
- 1:04:17 Matt: I always wonder who else I can take money from. I sell food, build houses, take care of interior and exterior construction, and we’re looking into cars. Hotels are next.
- 1:04:52 Sean: Complainers are a gold mine if you have the right mindset.
- 1:04:55 Matt: Oh, I love it! I went to the movies recently and overheard some people who worked at a dealership complaining in the lobby. I started taking notes and learned a lot!
- 1:05:35 Sean: Matt’s listening and observing people. He’s seeing where the transaction is happening. Where is the money exchanging hands? What problems do people have that they’re willing to pay to make go away?
If you want to make money, you have to find out what people are willing to spend money on.
- 1:05:59 Sounds simple, but a lot of people don’t get it. People think, “I want to do what I want to do and hopefully I can find someone to give me some money.” That’s not how it works. Do you know anyone else doing what you’re doing and getting paid what you want to make for doing it? That’s what you need to figure out. You need to find people who are actually paying to solve this problem. I listened to a podcast recently about running an eight figure business and the guy gave some tips.
- 1:06:33 He said, “I look for the houses on fire problems.” If someone’s house is on fire, do you think they’re going to sit around and fix that problem in a while? No! They’ve got to fix it and those are the problems he looks for. You can’t have the nice-to-have problems if you want to make money right now.
- 1:07:14 Matt: Do you think he gives a discount for those services? Heck no! He’s marking it up because it’s an emergency service.
Find Where Your Passion Meets Demand
- 1:07:26 Sean: The further you get a way from the house on fire problems, the harder it’s going to be to make money. It’s not that difficult. If you sell razors, it’s not going to be total house on fire problem, but for the right market—like the salesman who has to be clean shaven or he’s fired—it’s pretty close to a house on fire situation. He has to figure out a way to get his face smooth—either with an electric shaver or blades. There are services now that will ship the blades to you direct to consumer so it’s cheaper, and you just pay a subscription. You have to find problems that people have to solve.
- 1:08:19 Matt: I don’t want people to think they have to go start a car dealership to make money just because people need cars. We’re not talking about starting your own third-party fire station. We’re talking about finding things that there’s a demand for—some kind of service or product that people have to have. I think it’s important to have that and to actually enjoy or relate to this service or product. You have to relate to this product. Don’t just do it for the money. I’ve made money in things I don’t like doing, but it wasn’t enjoyable. I didn’t spend as much time in it and I don’t make as much with that business because I would cringe at it. With housing, I get so pumped by it! Give me a trashed house with grass as tall as the roof and urine on the walls, and I’m happy.
- 1:09:54 Sean: That’s a great point because it’s an overlap of the house on fire problems and something you love. Problems that people have to have solved is where you’re going to be super successful. You’ve got house on fire problems—problems people have to have solved and they’re paying for, and then there’s something you’re passionate about. If you can find that overlap, you’ll be phenomenally successful. Steve Jobs famously said, “You have to love what you do.”
- 1:10:26 It’s going to be tough. You’ll get to places where you don’t want to show up anymore because you’re discouraged, but if it’s something you’re passionate about and love doing, you’re going to stick it out almost unreasonably. Everyone else may tell you to give up, but you persevere and that’s where the passion comes in. People miss the other practical side of it—the house on fire problems. People think they should just do what they’re passionate about, even if that’s video games. You have to find the overlap. Be passionate about it, but:
Figure out how you can apply your passion to solving problems people need solved.
- 1:11:14 Matt: We started knocking on the door to one house on a street in neighborhoods with Home Owners Associations that monitor the exteriors and saying, “I noticed you have a different variety of weeds as opposed to grass in your lawn.” They usually say they’ve used different services that didn’t work, so I say, “What if our company could make it green grass?” and if they can’t afford it, we offer it for free. Within a few weeks, the neighbors start to notice there’s not weeds anymore and they’ll ask how they fixed that problem.
- 1:14:16 Eventually the neighbors start calling us! It might sound dumb to start a business on weeds, but think about it for whatever business you’re in. Weeds is a small part of the lawn and landscaping business, but we make a ton of money just on taking care of weeds! Make money in a small extension of whatever it is you do. We went from making $10,000 to $70,000 in three months just on doing weeds. Find something people have to have.
- 1:16:01 I brought up HOAs because if people get weeds, they get warnings and after a second warning, they get a fine. They’re looking for anyone who can fix this problem and they’ll pay anything. You’re not marking it up 100% or anything, you’re offering a fair price, but you’re always listening to the market. Look for the demand. Figure out what the weeds are for your business and put a little bit of time into it to make some extra money.
- 1:17:51 Find the demand! That goes back to listening every day for what you can do to solve a problem. I have a customer who’s a DJ and he was asking if I had any advice for his business. He produces music for companies and that’s how he makes money. I asked him what problems he was solving in his industry and didn’t know, so I told him to go listen to everyone’s problems and figure out how he could help them. I told him to browse the questions people have on the internet and listen to what people are saying in coffee shops.
- 1:20:18 Sean: Look for people saying:
- “I wish…”
- “I need…”
- “I want to fix this…”
- “I’m frustrated with…”
- “We need to pay for…”
- 1:20:35 What are people wanting? It’s not always going to be super clear. They won’t say, “I have a problem with this and I want to give people money to fix it.” They’ll say it in a way that’s natural. We had a problem with the alarm system beeping on a schedule, which is super annoying, so we might say, “I wish we could get that configured.” Someone might say, “I wish I could find a piano teacher who came to the house for my kid.”
- 1:21:44 Matt: That’s what you have to be listening for. Talk to people in a way that doesn’t seem like you’re trying to find the next business thing, just ask questions and have conversations with them.
- 1:22:03 Sean: We’ve talked before about Matt’s leaf bag stand—to help hold a bag while you put leaves in it— and that’s someone’s entire business. It seems like a little thing, but your entire business could be that one little thing.