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Good morning everybody! I hope everybody is doing great today. It’s about 9:00 am on a Monday morning. Surprisingly Monday is a day that I get to the office a bit later. My wife goes into work late on Monday. We generally grab breakfast and hang out for a little while. In the mornings, we’re able to do that. I’m able to adjust my schedule to fit hers. Her schedule is slightly flexible too. She kind of makes her own schedule. She’s a volleyball coach and then she’s got private lessons that she gives. She has to give lessons I guess during the times that people normally do lessons which tends to be at nights. She’s got a couple of ways to get home school that she does during the weekdays. So, her schedule isn’t necessarily all as flexible. She can choose not to go but you miss out on that income and she’s really passionate about doing it.
What I want to talk to you today about, one of the things that I will talk about is building your business to sell. Not that you’re ever going to sell it but build your business to where it would be desirable for somebody to come in and purchase. What makes a desirable business? A desirable business is something that as far as somebody coming to buy your business. It is something where somebody could come purchase your business. Put in a manager. Pay the manager a fair salary and still earn a good profit without having to do any work. A lot of people that purchase junk removal business will not be running as an absentee. That is called absentee ownership. Quite a few will be involved in the day-to-day operations. Anybody that owns any sort of business should be involved somewhat in the operations of the business. Not necessarily day-to-day but they should have their hand on the button anyway. Generally, the consensus is for a good profitable business, a business that’s worth money. I’m not talking Netflix, Amazon, Angie’s list or any of those businesses that are publicly-traded. They have never made a profit in their entire life yet still have huge valuations. I’m talking about a real business. A business that most people have. Typically, 15% profits after paying a manager. A fair salary is considered a good business. You want to be able to get in there. You’ll be able pay a manager depending on your area or country, somewhere around $50,000 to $60,000 dollars a year. If you’re up north, it could be more. In certain areas it could be less. It’s kind of the going rate of what a manager would earn. You could be that manager, so you just need to make sure you’re making a fair salary.
I want to recommend this book “Built to Sell” by John Warrillow. It’s a great book. It tells a story. It’s from the viewpoint of a business owner, the guy who owns a marketing firm. It talks about he meets with this mentor who teaches him how to get that business ready to sell. He’s making good money, but he’s not cash flowing very well. He’s always under stress. He always has to be in the business. What I want everybody to do that partners with Junk Removal Authority and watches these videos. I don’t want you to be a slave to your junk removal business and so many people are. So many people are slaves to their business. They were Junkluggers. I don’t know if you saw that. That was one of our competition. Some of our competition going down the road. You need to have it in place where you can leave and your business continues to run well. That needs to be what you’re striving for. Like in the case of Junk Doctors, my business partner who has been in it a month after I started. Christian came onboard. He handles most of the day-to-day operations of Junk Doctors. We even have people trained in place where both Christian and myself want to go to conferences and we want to go like this past weekend. We’ll elaborate more, but we went out of town looking into a store that would pair well with Junk Doctors. Something we’re looking to do. We were out of town all day Saturday and we have somebody in place. We have Aaron in place, so we can make sure all 3 locations are running smoothly.
That’s something you need to put in place. You’re not going to get it immediately but you should have it within your first 2 years of operation. What you don’t want to have happen is be working for yourself and always have to be there. Can’t ever go on vacation. Can’t hang out with your wife early in the morning. Can’t go to your kid’s soccer game. If you do choose to, what you have to do is block part your schedule off and you’re missing out on income. You need to have it where that business makes you money regardless of whether you’re working or not. That book “Built to Sell by John Warlow” is a great start. Of course, partnering with the Junk Removal Authority will get you there as well. Any questions? E-mail me at [email protected] Please subscribe to this channel.
We’re going to start giving even more content. We’re giving some out now, but we’re going to start giving daily content here soon. Just get a few things ready. Visit us at junkremovalauthority.com. Our interim website is in place. The main website should be going out. Let’s see in the next few weeks. There is still some good information on there now. There’s a good blog, some great information on that blog as well. Enjoy it everybody! Have a wonderful Monday today. We’ll be talking with you here soon.