This edition of the newsletter is brought to you by:
Get a free Google Ad account review and discover how Adimize can drive more leads for your hauling business. With 10+ years in the industry, we know exactly how to turn clicks into jobs. Let us take your ads to the next level so you can focus on growing your business.
Visit adimize online to learn more!
Welcome to our newsletter! There’s a lot of noise out there, especially in the “bro-preneur” circles, about the idea of “passive income.”
Let me try to be as clear as possible here... there’s no such thing as passive income in business—at least not in the way most people think. A business, especially in the home service industry, is a living, breathing thing that demands time, effort, and constant attention. If you’re hands-off, you’re heading for trouble.
The idea of passive business income is a myth (unless you’re just a silent investor with no involvement). What you should aim for instead is a high-leverage business model. It’s just like raising a kid. You can’t be a passive parent and expect your child to thrive in this insane world of ours. Similarly, you can’t be a passive owner and expect your business to grow and sustain itself.
And just like with kids, what you do early on in your business will have long-lasting impacts. If you build the right systems and create leverage, you won’t waste time fantasizing about passive income. You’ll have a business that can grow, and become more valuable over time.
Nobody likes hearing that their “baby” is ugly, but I’ve seen a lot of ugly business models out there.
Take a business like a restaurant, for example. It checks almost all the boxes for a bad business model. You make a meal, get paid once. Different customers have different requests, so scaling is difficult. The costs of running it are huge, and even if you fill every seat, your profits are razor-thin. A 10% profit margin in a restaurant is hitting it out of the park—most sit around 3-5%, and plenty lose money, and plenty more go completely belly-up.
It’s business on hard mode.
Now, how does someone in that situation escape? They shift the model. Look at what McDonald’s and Subway have done. They don’t just sell food. They sell a system—a franchise model. It’s the system and the brand that hold the real value, not the burgers or sandwiches.
In our industry, there’s always an opportunity to shift your business model. This could mean adding a subscription service for regular clients, systemizing processes so your crews work more independently, or even licensing the unique methods and tools that have made your business successful.
In my experience, some of the biggest business successes come from small changes in the business model. You don’t have to make big changes all at once—gradual adjustments can create huge results.
This approach builds leverage, allowing you to grow a business that works for you, instead of chasing the unrealistic idea of “passive” income. ✌️
Justin Hubbard
PLUS: Whenever you're ready, here are three ways I can help you grow your business:
1. Get Personal Help with a FREE Strategy Call
Need fresh insights on your business strategy? Book a FREE 30-minute call with me. I help identify winning strategies to boost your bottom line and enhance your quality of life.
You’ve hired experts for your golf game and finances—now hire a coach to help your business thrive. As a fellow small business owner, I understand the challenges and know how to navigate them for growth and success. Book your strategy call HERE.
2. adimize: Grow Your Business with Our Proven Google Ads System
Want to maximize your ad spend and drive results? Get a FREE Google Ads account review with adimize. Our team specializes in optimizing ad campaigns to drive leads and increase bookings. With over a decade of hauling industry marketing experience, we help your business grow using intent-driven, results-focused strategies. And with no contracts, there’s nothing to lose. Schedule your free review HERE.
3. Order My New eBook: Beyond Breaking Even | Unlocking Profit Potential In Hauling Businesses
Discover how to generate sustainable revenue and growth. This book provides targeted, efficient strategies specifically designed for the hauling industry. Inside, you'll find actionable insights on how to scale your business, optimize operations, and increase profitability while minimizing risk. Learn from real-world examples and proven methods that have helped businesses like yours go beyond survival to achieving success. Purchase your copy HERE.
Comments