Video Transcript

00:02
Welcome back to the SA Weekly
00:03
Welcome back to the SA Weekly Talk show Mike Callahan here co
00:05
Talk show Mike Callahan here co host this week with special
00:07
host this week with special guest Dan Plata of Blue Skies
00:10
guest Dan Plata of Blue Skies uh CEO of Blue Skies Blue
00:12
uh CEO of Blue Skies Blue skies. If you haven’t heard
00:13
skies. If you haven’t heard about them, we’re gonna dive
00:14
about them, we’re gonna dive into what that is, but uh very
00:16
into what that is, but uh very impressed with Dan and his
00:18
impressed with Dan and his group uh bookkeeping beer and
00:22
group uh bookkeeping beer and BS and if you are a fan of the
00:24
BS and if you are a fan of the SA weekly talk show, I’m
00:25
SA weekly talk show, I’m actually gonna be joining Dan
00:26
actually gonna be joining Dan um next week on bookkeeping
00:28
um next week on bookkeeping beer and BS uh talking all
00:29
beer and BS uh talking all things financial. Automations
00:32
things financial. Automations and you name it um crazy
00:33
and you name it um crazy business but here on the essay,
00:34
business but here on the essay, Weekly talk show I wanted to
00:35
Weekly talk show I wanted to bring in on um because he has a
00:38
bring in on um because he has a lot of experience in a lot of
00:39
lot of experience in a lot of different services business now
00:41
different services business now predominantly blue skies is
00:42
predominantly blue skies is working in windows and home
00:43
working in windows and home cleaning um but through his
00:45
cleaning um but through his bookkeeping, he has expertise
00:46
bookkeeping, he has expertise in uh pretty much all things
00:49
in uh pretty much all things service businesses. So if you
00:50
service businesses. So if you have any questions or comments
00:53
have any questions or comments drop them in the comments below
00:54
drop them in the comments below and if you have some time,
00:54
and if you have some time, we’re gonna answer those
00:55
we’re gonna answer those questions live at the end of
00:56
questions live at the end of our talk, but uh Dan, if
00:58
our talk, but uh Dan, if anybody hasn’t seen any of the
00:59
anybody hasn’t seen any of the conferences, I know we ran into
01:02
conferences, I know we ran into you. It’s um several service uh
01:04
you. It’s um several service uh industry conferences uh
01:04
industry conferences uh throughout the last year
01:05
throughout the last year really. With What you guys are
01:08
really. With What you guys are doing over there, but if
01:09
doing over there, but if somebody hasn’t heard of you
01:10
somebody hasn’t heard of you what you do in your background
01:11
what you do in your background of a predominant bookkeeping
01:13
of a predominant bookkeeping that maybe a little bias and
01:14
that maybe a little bias and beer as well. um would you mind
01:15
beer as well. um would you mind kinda introduce yourself and
01:17
kinda introduce yourself and let people know how you cut
01:18
let people know how you cut your teeth in the service
01:19
your teeth in the service industry and then evolving into
01:21
industry and then evolving into a bookkeeping. Yeah sure. so um
01:23
a bookkeeping. Yeah sure. so um I’m doing some Facebook shares
01:25
I’m doing some Facebook shares so if somebody catches on a
01:26
so if somebody catches on a different page, I’m just trying
01:27
different page, I’m just trying to get it out there so anybody
01:29
to get it out there so anybody that you know it’s it’s maybe
01:30
that you know it’s it’s maybe too early in the day to drink
01:31
too early in the day to drink beer, but we can still be s and
01:34
beer, but we can still be s and maybe feather in some
01:34
maybe feather in some bookkeeping um. So the the
01:38
bookkeeping um. So the the whole the whole bookkeeping
01:40
whole the whole bookkeeping world for me uh in a way came
01:43
world for me uh in a way came about by accident, so I got
01:45
about by accident, so I got into the industry um to help
01:47
into the industry um to help one of my buddies. Mike do with
01:49
one of my buddies. Mike do with his businesses and I was doing
01:51
his businesses and I was doing some bookkeeping stuff for him,
01:52
some bookkeeping stuff for him, but for those that don’t know
01:53
but for those that don’t know my story, I’ve spent like 10
01:55
my story, I’ve spent like 10 years in the corporate world,
01:56
years in the corporate world, no surprise uh and I’m an
01:58
no surprise uh and I’m an entrepreneurial guy. I got to
02:00
entrepreneurial guy. I got to burned out after a decade in
02:01
burned out after a decade in the the corporate world and I
02:02
the the corporate world and I was like like it wasn’t about
02:04
was like like it wasn’t about the money anymore. I just
02:04
the money anymore. I just wanted to do something fun and
02:06
wanted to do something fun and create value that I got to keep
02:07
create value that I got to keep or at least the people that I
02:09
or at least the people that I like to work with got to keep
02:10
like to work with got to keep so. We had a window cleaning
02:13
so. We had a window cleaning business at that time, We
02:14
business at that time, We bought some more window
02:15
bought some more window cleaning businesses. We bought
02:17
cleaning businesses. We bought some home cleaning businesses
02:17
some home cleaning businesses and really uh that was our
02:19
and really uh that was our focus for a long time and it’s
02:21
focus for a long time and it’s still is we still own and
02:23
still is we still own and operate those businesses and
02:25
operate those businesses and they’re kind of our cornerstone
02:26
they’re kind of our cornerstone but in the last two to 3 years
02:29
but in the last two to 3 years we had you know you build this
02:31
we had you know you build this network of other small business
02:33
network of other small business owners and you kinda like you
02:34
owners and you kinda like you know they say misery loves
02:35
know they say misery loves company. I don’t know if we’re
02:37
company. I don’t know if we’re miserable or not, but we are
02:38
miserable or not, but we are totally gravitate to the same
02:39
totally gravitate to the same type of stuff right. so we
02:41
type of stuff right. so we built up this network um and
02:43
built up this network um and totally by. We had people start
02:45
totally by. We had people start asking us for help on some of
02:47
asking us for help on some of the things we have built
02:49
the things we have built systems for and you know we had
02:50
systems for and you know we had 100 plus employees and so in
02:52
100 plus employees and so in multiple locations so we had to
02:53
multiple locations so we had to get really good at a few things
02:56
get really good at a few things that we were doing remotely,
02:57
that we were doing remotely, which was recruiting and
02:58
which was recruiting and bookkeeping and marketing and
03:00
bookkeeping and marketing and over the last few years just we
03:02
over the last few years just we we started to get tapped to
03:04
we started to get tapped to just help people out with their
03:06
just help people out with their systems using our labor. so we
03:08
systems using our labor. so we had the labor um and we had our
03:11
had the labor um and we had our systems built and so we just
03:12
systems built and so we just started like figuring out ways
03:13
started like figuring out ways to. Our friends into our
03:17
to. Our friends into our systems so they could get the
03:18
systems so they could get the benefit of our scale and then
03:19
benefit of our scale and then you know and they’re like well.
03:21
you know and they’re like well. that’s awesome. We appreciate
03:22
that’s awesome. We appreciate it. What do we owe you and the
03:23
it. What do we owe you and the first thing I could come up
03:24
first thing I could come up with this is a case of beer cuz
03:26
with this is a case of beer cuz I’m from Wisconsin and that’s
03:27
I’m from Wisconsin and that’s how you do. you know a favor
03:29
how you do. you know a favor you get a case of beer um but
03:30
you get a case of beer um but eventually we realize Oh, we
03:32
eventually we realize Oh, we actually have a business here
03:34
actually have a business here um and so for the last couple
03:35
um and so for the last couple of years, we’ve had our blue
03:37
of years, we’ve had our blue skies Admin services business.
03:38
skies Admin services business. so we went we flip sides of the
03:40
so we went we flip sides of the table at the industry events.
03:41
table at the industry events. We would always go as a. And
03:44
We would always go as a. And over the last couple of years
03:45
over the last couple of years we’ve had to figure out how to
03:47
we’ve had to figure out how to be a vendor feels really weird
03:50
be a vendor feels really weird um and honestly, it’s gonna be
03:52
um and honestly, it’s gonna be the weirdest thing. Um I got I
03:54
the weirdest thing. Um I got I got to hop in here is that
03:56
got to hop in here is that transition from uh the service
03:58
transition from uh the service business to a vendor and then
04:00
business to a vendor and then maybe being both uh the service
04:02
maybe being both uh the service business and the vendor being
04:03
business and the vendor being at those events, it is really
04:05
at those events, it is really um it’s an interesting feeling
04:07
um it’s an interesting feeling um uh cuz there’s this
04:09
um uh cuz there’s this conferences are great. Um got a
04:10
conferences are great. Um got a big big event coming up right
04:12
big big event coming up right now. It’s a thrive our virtual
04:13
now. It’s a thrive our virtual event for service Autopilot and
04:15
event for service Autopilot and then uh hopefully everything
04:17
then uh hopefully everything comes down with Cove and
04:17
comes down with Cove and national crisis and uh we can
04:19
national crisis and uh we can get. Backs seven uh back in
04:22
get. Backs seven uh back in Dallas next year but um before
04:25
Dallas next year but um before we really get into the nuts and
04:27
we really get into the nuts and bolts of bookkeeping um and and
04:29
bolts of bookkeeping um and and the things that we really wanna
04:30
the things that we really wanna talk about. I gotta I gotta
04:31
talk about. I gotta I gotta give you guys some credit uh we
04:32
give you guys some credit uh we had uh uh a member uh that
04:34
had uh uh a member uh that reached out to us as a
04:36
reached out to us as a certified adviser Service
04:37
certified adviser Service Autopilot and said, Hey Mike um
04:39
Autopilot and said, Hey Mike um I need some help with basically
04:41
I need some help with basically putting together a help wanted
04:43
putting together a help wanted ad in Craigslist, Facebook
04:45
ad in Craigslist, Facebook wherever you’re going um
04:46
wherever you’re going um gentleman had some really good
04:47
gentleman had some really good points on that that he was
04:48
points on that that he was basically. Um formatting the
04:53
basically. Um formatting the application, How do I put this
04:54
application, How do I put this is more of this is what you
04:55
is more of this is what you need to do for us and this is
04:57
need to do for us and this is what you’re gonna get paid and
04:58
what you’re gonna get paid and it was all focused on basically
04:59
it was all focused on basically just dollar but nothing around
05:01
just dollar but nothing around culture and things like that um
05:02
culture and things like that um and obviously blue skies uh
05:04
and obviously blue skies uh windows and home cleaning that
05:05
windows and home cleaning that you’ve got different locations
05:07
you’ve got different locations around. I’m assuming that the
05:08
around. I’m assuming that the United States, but it was
05:09
United States, but it was interesting in upstate New
05:11
interesting in upstate New York. Um I opened up the filter
05:13
York. Um I opened up the filter on the Facebook uh ad part
05:15
on the Facebook uh ad part basically for help wanted and I
05:17
basically for help wanted and I ended up. I think it was for
05:18
ended up. I think it was for the window cleaning company
05:20
the window cleaning company seeing one of your ads and then
05:21
seeing one of your ads and then with the link. The automated um
05:26
with the link. The automated um basically yeah, but it was it.
05:29
basically yeah, but it was it. It is totally off the cup. I
05:30
It is totally off the cup. I don’t know if you feel
05:32
don’t know if you feel comfortable at least just
05:33
comfortable at least just talking about on an extremely
05:35
talking about on an extremely high level. What you’ve seen as
05:37
high level. What you’ve seen as success when you go out for um
05:40
success when you go out for um getting help in the way you’re
05:41
getting help in the way you’re formulating that cuz I know
05:43
formulating that cuz I know this gentleman um truly wants
05:44
this gentleman um truly wants to get good employees. We all
05:45
to get good employees. We all do but a lot of times including
05:47
do but a lot of times including in the early years myself. um
05:49
in the early years myself. um I’d be focusing on you need to
05:51
I’d be focusing on you need to show up and this time you need
05:52
show up and this time you need to you know reliable
05:53
to you know reliable transportation you you. It’s
05:54
transportation you you. It’s not you know what can we do for
05:56
not you know what can we do for you and obviously at this
05:56
you and obviously at this point, the the game is changed
05:57
point, the the game is changed with the millennial workforce.
06:00
with the millennial workforce. Doesn’t necessarily fetch
06:01
Doesn’t necessarily fetch someone outside of like
06:03
someone outside of like literally wanting a paycheck to
06:04
literally wanting a paycheck to cover probably like a carton of
06:06
cover probably like a carton of cigarettes and some boos at the
06:07
cigarettes and some boos at the end of the week, like that’s
06:08
end of the week, like that’s probably not the person you
06:09
probably not the person you wanna build a business and a
06:12
wanna build a business and a culture around so before we
06:13
culture around so before we actually dive into what we’re
06:14
actually dive into what we’re talking about the financials
06:15
talking about the financials and the bookkeeping going into
06:16
and the bookkeeping going into you know basically in the
06:18
you know basically in the middle of Q four right now uh
06:19
middle of Q four right now uh would you mind hit on it? cuz I
06:20
would you mind hit on it? cuz I just the way you had that ad. I
06:22
just the way you had that ad. I saw it yesterday morning. um I
06:24
saw it yesterday morning. um I actually sent a link to it to
06:25
actually sent a link to it to and said, Hey, this is a good
06:26
and said, Hey, this is a good example of what you kinda
06:27
example of what you kinda should be some of that. on.
06:28
should be some of that. on. Yeah I i.. An awesome question
06:32
Yeah I i.. An awesome question there’s um it’s a bit of an art
06:35
there’s um it’s a bit of an art and a bit of a science type of
06:35
and a bit of a science type of thing like you mentioned like
06:37
thing like you mentioned like the culture part is really the
06:39
the culture part is really the art to it. The science of how
06:41
art to it. The science of how you talk about your culture is
06:44
you talk about your culture is it can be very like methodical
06:47
it can be very like methodical methodical. It doesn’t need
06:47
methodical. It doesn’t need like a mathematical formula but
06:49
like a mathematical formula but in a way it kind of is um and
06:52
in a way it kind of is um and we for for when we write a job
06:54
we for for when we write a job ad, we basically stole Simon
06:56
ad, we basically stole Simon Sins model of why how what um
06:59
Sins model of why how what um and so if you? Simon Ted talks
07:02
and so if you? Simon Ted talks has books um he’s super
07:06
has books um he’s super engaging guy, but he and one of
07:08
engaging guy, but he and one of his Ted talks specifically, and
07:09
his Ted talks specifically, and he has a has a whole book that
07:10
he has a has a whole book that elaborate on it, but I think
07:11
elaborate on it, but I think you’ll get the gist with his
07:13
you’ll get the gist with his Ted talk, but it basically says
07:14
Ted talk, but it basically says the companies that market
07:16
the companies that market successfully start with why
07:18
successfully start with why they do something. and then
07:20
they do something. and then they talk about how they do it.
07:21
they talk about how they do it. And then they talk about what
07:22
And then they talk about what it is like what it is is the
07:24
it is like what it is is the least important thing and for
07:26
least important thing and for your job description that’s
07:29
your job description that’s that is like what it is is your
07:30
that is like what it is is your company. Nobody really cares.
07:32
company. Nobody really cares. Company yet they eventually
07:34
Company yet they eventually will, but they care about why
07:36
will, but they care about why they should come work for you
07:36
they should come work for you and that’s all about your
07:39
and that’s all about your culture and so weaving in the
07:41
culture and so weaving in the cultural stuff First, why
07:42
cultural stuff First, why they’re gonna love working for
07:44
they’re gonna love working for you. And then the second thing
07:45
you. And then the second thing is how they’re gonna do the job
07:46
is how they’re gonna do the job like what that looks like on a
07:48
like what that looks like on a day-to-day basis, and the last
07:49
day-to-day basis, and the last thing is like. Oh, we happen to
07:51
thing is like. Oh, we happen to be a lawn care company up in
07:52
be a lawn care company up in upstate New York or wherever
07:54
upstate New York or wherever you’re at and by the way here’s
07:56
you’re at and by the way here’s kinda like the pay range, but
07:56
kinda like the pay range, but it’s got to engage them with
07:58
it’s got to engage them with cultural stuff. First. that
07:59
cultural stuff. First. that makes somebody like read
08:00
makes somebody like read through the whole. Right and
08:03
through the whole. Right and get interested in say like this
08:04
get interested in say like this is where I wanna be right and
08:06
is where I wanna be right and and it’s the same thing that
08:08
and it’s the same thing that causes people to leave
08:09
causes people to leave companies, which is a ???
08:11
companies, which is a ??? culture is the same thing that
08:14
culture is the same thing that attracts them to companies up
08:15
attracts them to companies up front. It’s not the money. It’s
08:17
front. It’s not the money. It’s the culture. It’s the vibe.
08:18
the culture. It’s the vibe. It’s the place that they wanna
08:19
It’s the place that they wanna go cuz chances are hopefully
08:20
go cuz chances are hopefully they already have a job but
08:22
they already have a job but they’re they’re planning on
08:23
they’re they’re planning on leaving it. There’s not gonna
08:24
leaving it. There’s not gonna leave until they have something
08:25
leave until they have something else and they’re probably
08:27
else and they’re probably leaving it because it sucks
08:27
leaving it because it sucks working in there so create a
08:29
working in there so create a job that they want the
08:31
job that they want the atmosphere that they wanna go
08:31
atmosphere that they wanna go to and then highlight that in
08:33
to and then highlight that in your job and and just always
08:35
your job and and just always start with that. Why I love it
08:36
start with that. Why I love it and I haven’t really heard. Uh
08:38
and I haven’t really heard. Uh analogy, but I completely agree
08:39
analogy, but I completely agree so it was interesting and I
08:41
so it was interesting and I think probably why it resonated
08:42
think probably why it resonated with me is that ad look very
08:45
with me is that ad look very similar. Structurally the way
08:46
similar. Structurally the way we broke out the ones in
08:48
we broke out the ones in Callahan’s lawn care, so I set
08:49
Callahan’s lawn care, so I set the gentleman one of our old
08:50
the gentleman one of our old ads that we use at the lawn
08:52
ads that we use at the lawn care company um and then I went
08:53
care company um and then I went through and I’m like well,
08:54
through and I’m like well, There’s gonna be a new version
08:55
There’s gonna be a new version of this or there’s gotta be
08:56
of this or there’s gotta be something that resonates to
08:57
something that resonates to kinda say hey, I’m it’s not
08:58
kinda say hey, I’m it’s not only me just doing this like
09:00
only me just doing this like here’s somebody else doing this
09:01
here’s somebody else doing this and it looks not exactly the
09:02
and it looks not exactly the same, but it’s resonating the
09:04
same, but it’s resonating the same thing. So I’m glad you
09:04
same thing. So I’m glad you brought that culture piece in
09:05
brought that culture piece in and how you weave. Is that
09:08
and how you weave. Is that right now, let’s face it. It’s
09:10
right now, let’s face it. It’s We’ve got away from the the
09:12
We’ve got away from the the $600 a week unemployment
09:13
$600 a week unemployment bonuses. I like to call it
09:15
bonuses. I like to call it depending on the state where
09:16
depending on the state where you’re at it’s fluctuated, but
09:18
you’re at it’s fluctuated, but it’s still it’s hard to get
09:19
it’s still it’s hard to get people to actually show up to
09:21
people to actually show up to these jobs, especially if it’s
09:22
these jobs, especially if it’s seasonal, we’re getting near
09:24
seasonal, we’re getting near the end of the season um and
09:25
the end of the season um and speaking near the end of the
09:27
speaking near the end of the season, uh believe it or not if
09:28
season, uh believe it or not if you’re watching this live right
09:29
you’re watching this live right now, we’re in the middle of Q.
09:32
now, we’re in the middle of Q. Four. It’s key for baby 2
09:33
Four. It’s key for baby 2 months left, and especially if
09:34
months left, and especially if you’re working outside lawn
09:35
you’re working outside lawn care landscaping pest control
09:37
care landscaping pest control um you’re probably not gonna.
09:39
um you’re probably not gonna. Lies depending where you’re in
09:40
Lies depending where you’re in the country on the full what’s
09:42
the country on the full what’s left of of Q four now, maybe if
09:44
left of of Q four now, maybe if you’re in the cleaning
09:45
you’re in the cleaning industry, we definitely we’re
09:46
industry, we definitely we’re gonna obviously capitalize.
09:47
gonna obviously capitalize. It’s a big one there as well
09:48
It’s a big one there as well cuz you’ve got the holiday rush
09:51
cuz you’ve got the holiday rush um so whether you’re in lawn
09:52
um so whether you’re in lawn care where you need to be
09:53
care where you need to be pushing down the pedal and
09:54
pushing down the pedal and driving bottom line margins
09:56
driving bottom line margins because as we’re gonna talk
09:56
because as we’re gonna talk about, we’ve recovered most of
09:57
about, we’ve recovered most of our overhead at least the fixed
09:59
our overhead at least the fixed part or if you’re in home
10:00
part or if you’re in home clean, it’s time to upsell
10:01
clean, it’s time to upsell those ancillary services to
10:03
those ancillary services to double down on one time a
10:05
double down on one time a reoccurring service so Dan what
10:06
reoccurring service so Dan what do we do here with a few months
10:08
do we do here with a few months left in? Q. Four. What what?
10:10
left in? Q. Four. What what? What should we be focusing on
10:12
What should we be focusing on you know to me? this is maybe
10:15
you know to me? this is maybe uh almost like two plain and
10:18
uh almost like two plain and simple but just putting money
10:19
simple but just putting money in the bank. It’s it’s like I’m
10:22
in the bank. It’s it’s like I’m up in Minneapolis and it’s not
10:23
up in Minneapolis and it’s not much different than upstate New
10:25
much different than upstate New York, but like you got 8 weeks
10:27
York, but like you got 8 weeks left, so it’s cold outside
10:29
left, so it’s cold outside right now. Yeah, I mean I was
10:31
right now. Yeah, I mean I was telling you earlier like I’m
10:32
telling you earlier like I’m going bow hunting right after
10:33
going bow hunting right after after this our temperature
10:34
after this our temperature today in Minneapolis, 48 the
10:35
today in Minneapolis, 48 the lows are in the 30s. so like
10:38
lows are in the 30s. so like it’s the leaves are. Dropping
10:40
it’s the leaves are. Dropping like crazy, we need to go out
10:42
like crazy, we need to go out and get a bunch of work done as
10:43
and get a bunch of work done as fast as we possibly can before
10:45
fast as we possibly can before we get covered in three four
10:46
we get covered in three four feet of snow so it now every
10:49
feet of snow so it now every part of the US or the world is
10:51
part of the US or the world is a little bit different but the
10:53
a little bit different but the trigger for the consumer is
10:54
trigger for the consumer is still there like just like it
10:55
still there like just like it is in the spring time with
10:57
is in the spring time with spring cleaning like fall is is
10:59
spring cleaning like fall is is like winter prep time right um
11:01
like winter prep time right um and so it has to and for our
11:03
and so it has to and for our business, it has to be winter
11:04
business, it has to be winter prep time cuz our revenues
11:06
prep time cuz our revenues probably gonna dip a little
11:07
probably gonna dip a little bit. maybe not if you’re in the
11:08
bit. maybe not if you’re in the mat. Spacer in janitorial, you
11:10
mat. Spacer in janitorial, you can keep it keep it rolling um,
11:12
can keep it keep it rolling um, but if you’re working at all on
11:14
but if you’re working at all on the outside of the house, I
11:15
the outside of the house, I would say like what you should
11:17
would say like what you should be focused on is almost
11:18
be focused on is almost nothing. you should just be
11:20
nothing. you should just be focused on executing like make
11:22
focused on executing like make sure you have the capacity that
11:24
sure you have the capacity that you need and make sure you’re
11:26
you need and make sure you’re you’re booking the demand as
11:27
you’re booking the demand as fast as you can and just worry
11:30
fast as you can and just worry about making dollars pretty
11:32
about making dollars pretty much through November the the
11:34
much through November the the flip side of that is in the
11:35
flip side of that is in the downside to being like so
11:37
downside to being like so they’re focused on that. Makes
11:40
they’re focused on that. Makes it really hard to start
11:40
it really hard to start thinking and looking at 2021
11:43
thinking and looking at 2021 and we totally put it on the
11:44
and we totally put it on the back burner and we like push
11:47
back burner and we like push push and all of a sudden. It’s
11:48
push and all of a sudden. It’s like man. it’s Christmas time
11:51
like man. it’s Christmas time and I haven’t started like even
11:52
and I haven’t started like even thinking about twenty or
11:54
thinking about twenty or twenty-one like creating a
11:56
twenty-one like creating a budget for it or planning on it
11:57
budget for it or planning on it at all, like I’m just happy
11:58
at all, like I’m just happy that this year is done right
12:00
that this year is done right and we’re like going to
12:01
and we’re like going to hibernation mode. So it’s not
12:03
hibernation mode. So it’s not good or bad, but it’s it’s go
12:04
good or bad, but it’s it’s go time. it’s time to make money
12:06
time. it’s time to make money um all capacity demand.
12:09
um all capacity demand. Capacity in demand right now,
12:10
Capacity in demand right now, wouldn’t you say to an
12:11
wouldn’t you say to an individual like man? It’s been
12:12
individual like man? It’s been crazy. We just got out of the
12:14
crazy. We just got out of the spring. I’ve been locked up
12:16
spring. I’ve been locked up with the family. you know it’s
12:18
with the family. you know it’s uncertain. I just got through
12:19
uncertain. I just got through the lawn care season. I finally
12:20
the lawn care season. I finally the doors just opened up my
12:22
the doors just opened up my home cleaning business. I’ve
12:23
home cleaning business. I’ve been going and going and going
12:24
been going and going and going and going man. it’s it’s almost
12:24
and going man. it’s it’s almost the middle of October. I’m
12:27
the middle of October. I’m burned out Dan like can I just
12:28
burned out Dan like can I just post a little bit and get a
12:30
post a little bit and get a breather like you know? what
12:32
breather like you know? what what? what do you say to that?
12:32
what? what do you say to that? cuz it is there inherently a
12:35
cuz it is there inherently a negative effect if you just
12:36
negative effect if you just keep the status? Q. Just kinda
12:39
keep the status? Q. Just kinda go to the end of the winter
12:41
go to the end of the winter softly like what what do you
12:43
softly like what what do you see it with the company? you’re
12:44
see it with the company? you’re with that are doing that and
12:45
with that are doing that and how do we avoid that if we
12:47
how do we avoid that if we should be avoiding assuming we
12:49
should be avoiding assuming we should be, I mean it that’s
12:51
should be, I mean it that’s that’s tricky right like you
12:53
that’s tricky right like you gotta you gotta do you and you
12:55
gotta you gotta do you and you gotta take care of your mental
12:56
gotta take care of your mental health but I also think we as
12:59
health but I also think we as entrepreneurs we didn’t. we
13:01
entrepreneurs we didn’t. we didn’t start a business and get
13:02
didn’t start a business and get to where we are because we ever
13:03
to where we are because we ever feel like it’s okay to coast.
13:06
feel like it’s okay to coast. So we all now we all have those
13:08
So we all now we all have those days where we. When you’re just
13:10
days where we. When you’re just like like I don’t have it in me
13:13
like like I don’t have it in me to push today, but we all know
13:15
to push today, but we all know that the next day it’ll be back
13:18
that the next day it’ll be back right um and so we just have
13:19
right um and so we just have that like natural fuel and fire
13:21
that like natural fuel and fire to to to drive at home,
13:22
to to to drive at home, especially when we can see the
13:24
especially when we can see the finish line um and if you’re if
13:26
finish line um and if you’re if you’re doing an exterior stuff,
13:27
you’re doing an exterior stuff, you can see that finish line
13:29
you can see that finish line right now and that usually even
13:31
right now and that usually even you know if you’re if you’re
13:32
you know if you’re if you’re running a race and you’re
13:34
running a race and you’re totally exhausted. If you’ve
13:35
totally exhausted. If you’ve been, you know, I’ve never run
13:36
been, you know, I’ve never run a marathon, but I can’t imagine
13:37
a marathon, but I can’t imagine what it would be. You got you
13:40
what it would be. You got you know three four miles left and
13:41
know three four miles left and you’re dead, but you know you
13:44
you’re dead, but you know you only got three four miles left
13:45
only got three four miles left and you just do it. You just
13:47
and you just do it. You just figure it out. um so I’d say
13:50
figure it out. um so I’d say just make it happen like now,
13:52
just make it happen like now, make now. make sure you’re
13:53
make now. make sure you’re delegating appropriately and
13:54
delegating appropriately and make sure you’re automating
13:56
make sure you’re automating appropriately and in you and I
13:57
appropriately and in you and I have been on a couple of
13:59
have been on a couple of different lives recently and we
14:00
different lives recently and we talked a ton about automation
14:01
talked a ton about automation so for those watching right now
14:02
so for those watching right now if you didn’t check out Sean
14:04
if you didn’t check out Sean Day when he was with Mike uh
14:06
Day when he was with Mike uh month or two ago, and then Mike
14:08
month or two ago, and then Mike was on with John and Blue
14:10
was on with John and Blue collar recruiting. We ton about
14:12
collar recruiting. We ton about automation stuff um so to.
14:16
automation stuff um so to. Alleviate the burnout delegate
14:18
Alleviate the burnout delegate like crazy uh automate like
14:20
like crazy uh automate like crazy, um we’re actually using
14:22
crazy, um we’re actually using Mike’s Butt here. I got a
14:23
Mike’s Butt here. I got a meeting with Kevin next week uh
14:25
meeting with Kevin next week uh to to start implementing the
14:27
to to start implementing the bot to and automate and use.
14:32
bot to and automate and use. Some labor relief for sure, but
14:35
Some labor relief for sure, but got 8 weeks to go. It’s just
14:37
got 8 weeks to go. It’s just time to make money. you know.
14:37
time to make money. you know. that’s just gotta get it done
14:38
that’s just gotta get it done and if you have any before we
14:40
and if you have any before we jump into the next thing I
14:41
jump into the next thing I wanna touch on is with co and
14:43
wanna touch on is with co and and and and and doubling down
14:45
and and and and doubling down and creating that cash flow or
14:46
and creating that cash flow or that cash flow is a petition at
14:48
that cash flow is a petition at the lawn care Millionaire calls
14:49
the lawn care Millionaire calls it um we’re gonna look at a
14:51
it um we’re gonna look at a budgeting and some targets and
14:52
budgeting and some targets and things like that we should be
14:53
things like that we should be looking at as benchmarks now
14:54
looking at as benchmarks now and then how we can set that up
14:56
and then how we can set that up for 2021 um but as you guys are
14:58
for 2021 um but as you guys are running, you know different uh
15:01
running, you know different uh cleaning and window cleaning uh
15:03
cleaning and window cleaning uh operations throughout the US,
15:04
operations throughout the US, it was kinda. Mindset of the
15:06
it was kinda. Mindset of the entrepreneur, What are we
15:07
entrepreneur, What are we saying to our team members cuz
15:09
saying to our team members cuz I know in my lawn care company
15:10
I know in my lawn care company uh we had to have basically uh
15:12
uh we had to have basically uh for lack of a better word we
15:13
for lack of a better word we call the retention bonus
15:15
call the retention bonus basically a retention payout
15:17
basically a retention payout that there would be almost a
15:18
that there would be almost a kid of 1200 to $2500 depending
15:21
kid of 1200 to $2500 depending on the the longevity of the 10
15:23
on the the longevity of the 10 year in the position, but they
15:25
year in the position, but they had to get to the end of the
15:25
had to get to the end of the fall clean up season and when
15:27
fall clean up season and when we put that equipment away they
15:29
we put that equipment away they knew it was there but right
15:30
knew it was there but right around this time within a week
15:32
around this time within a week or two, I remember I have to
15:33
or two, I remember I have to stand up on top of the trail
15:34
stand up on top of the trail and guys and girls. I hate to
15:36
and guys and girls. I hate to have this meeting, but we are
15:38
have this meeting, but we are near the finish line and if we
15:39
near the finish line and if we want. That retention payout at
15:42
want. That retention payout at the end, we’ve got to get
15:44
the end, we’ve got to get through the season um and that
15:46
through the season um and that seemed to be almost letting
15:48
seemed to be almost letting them know that there was that
15:49
them know that there was that finish line um whether it’s
15:51
finish line um whether it’s right or wrong, but I mean they
15:52
right or wrong, but I mean they knew most people weren’t gonna
15:54
knew most people weren’t gonna walk out on at least a grand
15:55
walk out on at least a grand that was guaranteed in a few
15:56
that was guaranteed in a few weeks from now um if they at
15:58
weeks from now um if they at least finish this season um so
16:00
least finish this season um so is there any tactics or things
16:03
is there any tactics or things or ways to approach uh your
16:04
or ways to approach uh your team or the way you guys are
16:06
team or the way you guys are approaching team to not only
16:08
approaching team to not only have the mindset of the
16:10
have the mindset of the entrepreneur the business
16:11
entrepreneur the business owner, but how do we help the
16:12
owner, but how do we help the folks in the field because I
16:13
folks in the field because I think that’s probably even
16:14
think that’s probably even worse than us because at. They
16:16
worse than us because at. They don’t they don’t own the
16:17
don’t they don’t own the business. Hopefully they bought
16:19
business. Hopefully they bought into it, but man it’s 48° out
16:21
into it, but man it’s 48° out in the morning. We’re getting
16:22
in the morning. We’re getting there. We’re wiping the frost
16:23
there. We’re wiping the frost off the lawn mowers are hoping
16:24
off the lawn mowers are hoping the windows aren’t freezing
16:25
the windows aren’t freezing while we’re watching them. um
16:26
while we’re watching them. um how do we how do we get in the
16:27
how do we how do we get in the psychology of those those
16:29
psychology of those those workers to get them across that
16:30
workers to get them across that finish line? So I think money
16:33
finish line? So I think money can money can do a little bit
16:34
can money can do a little bit right like we’re all a little
16:36
right like we’re all a little bit motivated by money. Um it’s
16:38
bit motivated by money. Um it’s not. It’s not everything but it
16:41
not. It’s not everything but it sure as hell it helps, but it
16:42
sure as hell it helps, but it doesn’t do everything. That’s
16:43
doesn’t do everything. That’s for sure I love the idea of
16:45
for sure I love the idea of like an end of fall bonus and
16:47
like an end of fall bonus and tied to like we. To stick it
16:50
tied to like we. To stick it out, I also you know I was
16:52
out, I also you know I was actually with my business
16:53
actually with my business partner Minneapolis about let’s
16:54
partner Minneapolis about let’s do a retention bonus in the
16:57
do a retention bonus in the spring time and that spring
16:58
spring time and that spring time bonus, you know could be
17:00
time bonus, you know could be thousands of dollars, but it’s
17:01
thousands of dollars, but it’s also gonna be tied to this fall
17:03
also gonna be tied to this fall so if they finish the fall and
17:05
so if they finish the fall and come back in the spring time
17:06
come back in the spring time like they get a huge bonus next
17:08
like they get a huge bonus next year as well for making that
17:10
year as well for making that turn cuz we basically shut down
17:11
turn cuz we basically shut down for three to 4 months here. um
17:13
for three to 4 months here. um I think that’s part of it the
17:14
I think that’s part of it the other piece of it, You know
17:16
other piece of it, You know like we know money isn’t
17:17
like we know money isn’t everything. A job that’s
17:19
everything. A job that’s willing to cover that bonus and
17:21
willing to cover that bonus and the culture is now right in our
17:22
the culture is now right in our company. They’re still gonna
17:23
company. They’re still gonna leave and in today’s world with
17:25
leave and in today’s world with how hard hiring is, there’s no
17:27
how hard hiring is, there’s no saying that a job you know they
17:29
saying that a job you know they don’t find something else and
17:30
don’t find something else and negotiate the bonus that you’re
17:32
negotiate the bonus that you’re gonna pay them into the like a
17:34
gonna pay them into the like a hiring bonus with that company.
17:35
hiring bonus with that company. so from a cultural standpoint,
17:38
so from a cultural standpoint, I think now is the time to like
17:39
I think now is the time to like really focus on employee
17:41
really focus on employee engagement coming down the
17:42
engagement coming down the stretch.
17:46
One thing that we make
17:47
One thing that we make sandwiches for our guys so they
17:49
sandwiches for our guys so they come in Monday, so it’s still
17:50
come in Monday, so it’s still like it’s cold whatever they
17:53
like it’s cold whatever they come in and get a hot breakfast
17:54
come in and get a hot breakfast sandwich that our leader is
17:56
sandwich that our leader is cooking, You know on site um
17:59
cooking, You know on site um coffee hot chocolate, whatever
18:01
coffee hot chocolate, whatever like running them stuff when
18:01
like running them stuff when they’re out in the field and
18:02
they’re out in the field and just tough ??? days, making
18:04
just tough ??? days, making sure that they have good
18:05
sure that they have good equipment, you know stuff
18:06
equipment, you know stuff that’s comfortable, especially
18:08
that’s comfortable, especially if they’re working outside um
18:09
if they’re working outside um but I think anything you can do
18:11
but I think anything you can do for an employee engagement
18:13
for an employee engagement perspective this time of year.
18:14
perspective this time of year. The money is good but making
18:15
The money is good but making them. Like they’re being
18:19
them. Like they’re being rewarded for busting their
18:20
rewarded for busting their butts and you know below
18:22
butts and you know below freezing temps um that that’s
18:24
freezing temps um that that’s that’ll drive at home. awesome.
18:26
that’ll drive at home. awesome. all good stuff could be more. I
18:28
all good stuff could be more. I know essay. I believe it was
18:29
know essay. I believe it was Jason Cup was really big the
18:31
Jason Cup was really big the essay ecosystem as well, uh one
18:32
essay ecosystem as well, uh one of the top industry consultants
18:34
of the top industry consultants talk just about what you’re
18:35
talk just about what you’re talking about. You’re throwing
18:36
talking about. You’re throwing some things in the fridge
18:38
some things in the fridge breakfast in the morning and
18:39
breakfast in the morning and and and really defining that I
18:40
and and really defining that I know a lot of people that work
18:42
know a lot of people that work to find a lot of success in
18:43
to find a lot of success in doing that. so I couldn’t agree
18:44
doing that. so I couldn’t agree more but diving. We’re at the
18:46
more but diving. We’re at the end of Q Four, we’re in the
18:47
end of Q Four, we’re in the middle of the Q Four we’re
18:49
middle of the Q Four we’re looking at budgeting. How do we
18:51
looking at budgeting. How do we go out and set some targets for
18:53
go out and set some targets for 2021 um and each industries is
18:55
2021 um and each industries is a little bit different but at
18:55
a little bit different but at the end of the day a budget,
18:57
the end of the day a budget, it’s a budget. We’ve got to put
18:58
it’s a budget. We’ve got to put it into play here at simple
18:59
it into play here at simple growth. We’re just finishing
19:00
growth. We’re just finishing ours up put the fine touches on
19:02
ours up put the fine touches on it for 2021. Um we’re putting
19:04
it for 2021. Um we’re putting that into our be our big hairy
19:07
that into our be our big hairy audacious goals and where we
19:08
audacious goals and where we wanna go and and creating
19:09
wanna go and and creating public accountability, but if
19:10
public accountability, but if you’ve never created a budget
19:11
you’ve never created a budget or you’re kinda struggling with
19:13
or you’re kinda struggling with it um I know we touched on it a
19:14
it um I know we touched on it a little bit. Last week with our
19:17
little bit. Last week with our last guest, but I think you’re
19:19
last guest, but I think you’re approach to different targets
19:21
approach to different targets in the way you approach that
19:23
in the way you approach that it’s just a little bit
19:23
it’s just a little bit different. I really like um our
19:25
different. I really like um our pre talk of how you tackle
19:27
pre talk of how you tackle that. so do you mind kinda dive
19:28
that. so do you mind kinda dive in of how you recommend setting
19:31
in of how you recommend setting up the 2021 budget some of the
19:32
up the 2021 budget some of the targets and if there’s any
19:33
targets and if there’s any difference industries you would
19:35
difference industries you would look at Yeah definitely and and
19:37
look at Yeah definitely and and to to what I was talking about
19:39
to to what I was talking about earlier, I think everybody
19:39
earlier, I think everybody needs to be totally focused on
19:41
needs to be totally focused on making revenue right now The
19:42
making revenue right now The detriment of that is that. Kind
19:46
detriment of that is that. Kind of screws us over for planning
19:47
of screws us over for planning for next year a little bit We
19:48
for next year a little bit We just like literally run out of
19:50
just like literally run out of time so um one of the things
19:52
time so um one of the things that we like to do in blue
19:54
that we like to do in blue skies for budgeting and and
19:56
skies for budgeting and and budgeting like sounds so boring
19:57
budgeting like sounds so boring and so trivial and like you’re
19:58
and so trivial and like you’re just guessing at the future Um
20:02
just guessing at the future Um there’s there’s two ways to
20:03
there’s there’s two ways to look at it and we can match
20:06
look at it and we can match this together so one way would
20:07
this together so one way would be that your budget should be a
20:10
be that your budget should be a reflection of what you’ve done
20:11
reflection of what you’ve done historically and then like that
20:12
historically and then like that is a progression going into the
20:13
is a progression going into the future. Way to look at the
20:15
future. Way to look at the budget is as a target that
20:17
budget is as a target that says, here’s my goals for next
20:19
says, here’s my goals for next year, right and the truth
20:21
year, right and the truth probably lies somewhere between
20:22
probably lies somewhere between those two things. Um your
20:24
those two things. Um your budget is what you wanna be
20:26
budget is what you wanna be able to measure against and
20:27
able to measure against and stretch for so it maybe you
20:30
stretch for so it maybe you even have like two budgets. You
20:31
even have like two budgets. You have like. here’s what we
20:32
have like. here’s what we expect. but here’s here’s our
20:34
expect. but here’s here’s our stretch goal or our be right um
20:37
stretch goal or our be right um either way though that takes a
20:38
either way though that takes a long time to put together so
20:40
long time to put together so one of the things that I found
20:42
one of the things that I found from doing bookkeeping for the
20:43
from doing bookkeeping for the last few years and like super
20:45
last few years and like super interesting. Whether you do
20:47
interesting. Whether you do lawn care home cleaning
20:50
lawn care home cleaning pressure washing janitorial um
20:54
pressure washing janitorial um any like you can go on and on
20:56
any like you can go on and on and just pick any any service
20:58
and just pick any any service company our basic P and L
21:01
company our basic P and L structure is exactly the same
21:03
structure is exactly the same across all the service
21:06
across all the service companies and we have an
21:07
companies and we have an interesting lens a because we
21:10
interesting lens a because we run our own window cleaning
21:11
run our own window cleaning pressure washing maid service
21:12
pressure washing maid service company. So we know exactly how
21:14
company. So we know exactly how to dial in those P and l’s,
21:15
to dial in those P and l’s, but. Lawn care is not much
21:18
but. Lawn care is not much different because janitorial is
21:19
different because janitorial is not much different because any
21:21
not much different because any service company is not much
21:22
service company is not much different The way the
21:24
different The way the structure, the PNL and the
21:26
structure, the PNL and the percent of revenue that you
21:27
percent of revenue that you should shoot for anything. we
21:30
should shoot for anything. we know it’s dialed in so one of
21:33
know it’s dialed in so one of the things that I’m working on
21:34
the things that I’m working on actually right now for
21:36
actually right now for everybody for this fall um and
21:37
everybody for this fall um and like we talked about earlier
21:38
like we talked about earlier this is just something that I’m
21:39
this is just something that I’m gonna make for free to try to
21:41
gonna make for free to try to help everybody out because
21:42
help everybody out because budgeting sucks and I even like
21:43
budgeting sucks and I even like accounting and I know budgeting
21:44
accounting and I know budgeting sucks um but I’m. Targets for
21:48
sucks um but I’m. Targets for everybody that is based on
21:50
everybody that is based on their industry based on they
21:52
their industry based on they get to punch in their revenue
21:54
get to punch in their revenue goals, so it’ll still be a
21:55
goals, so it’ll still be a little bit of like what you
21:56
little bit of like what you expect to do and what you’re
21:58
expect to do and what you’re shooting for, but all the
22:00
shooting for, but all the expenses will fill in and then
22:01
expenses will fill in and then there will be a way for them to
22:02
there will be a way for them to toggle and say like I’m
22:03
toggle and say like I’m actually gonna spend a little
22:04
actually gonna spend a little bit more there or I think I can
22:06
bit more there or I think I can do a little bit better here but
22:07
do a little bit better here but it’ll it’ll turn their
22:09
it’ll it’ll turn their budgeting process from hours
22:10
budgeting process from hours and hours and hours to less
22:13
and hours and hours to less than an hour. I’m hoping so
22:14
than an hour. I’m hoping so that way they can focus on
22:16
that way they can focus on revenue now go make a bunch of
22:18
revenue now go make a bunch of money. Let me take care of the
22:19
money. Let me take care of the budget. They just basically hit
22:21
budget. They just basically hit me up for my spreadsheet and
22:24
me up for my spreadsheet and let it rip. So that’s what I’m
22:26
let it rip. So that’s what I’m working on for qfour so that
22:29
working on for qfour so that 2021 is easy and starts off
22:31
2021 is easy and starts off smooth for everybody. Yeah. so
22:32
smooth for everybody. Yeah. so at the end of uh whoever’s
22:34
at the end of uh whoever’s listening here, whether you’re
22:35
listening here, whether you’re live on Facebook recorded or
22:36
live on Facebook recorded or even on the podcast, we’ll make
22:37
even on the podcast, we’ll make sure you get your your contact
22:38
sure you get your your contact information so can reach out
22:39
information so can reach out for that template, but uh I
22:41
for that template, but uh I believe you actually had a
22:42
believe you actually had a payroll protection um p uh
22:45
payroll protection um p uh spreadsheet you gave out to one
22:46
spreadsheet you gave out to one of your groups there as well
22:47
of your groups there as well and I got a hold of that.
22:47
and I got a hold of that. that’s uh that template. He’s
22:49
that’s uh that template. He’s looking up spreadsheets. I
22:52
looking up spreadsheets. I thought I thought I’d like to
22:53
thought I thought I’d like to excel sheets, but you might be
22:54
excel sheets, but you might be my brother from another mother.
22:55
my brother from another mother. I was like there’s no need to
22:57
I was like there’s no need to recreate this. This man is
22:58
recreate this. This man is massively put this uh
23:00
massively put this uh statements together and
23:01
statements together and formulas, but if it’s anything
23:01
formulas, but if it’s anything like the payroll protection
23:03
like the payroll protection payback uh sheet, I mean just
23:06
payback uh sheet, I mean just very nicely put together. so
23:08
very nicely put together. so we’ll definitely at the end of
23:09
we’ll definitely at the end of this. get some information how
23:10
this. get some information how people can reach out for that
23:12
people can reach out for that um so now we’re we’re kinda set
23:13
um so now we’re we’re kinda set this budget and we’re looking
23:15
this budget and we’re looking at now We’re getting near the
23:17
at now We’re getting near the end of Q. Four. We’re calling
23:17
end of Q. Four. We’re calling our account and account. Man
23:20
our account and account. Man you know even with this
23:21
you know even with this pandemic, you guys weigh way
23:23
pandemic, you guys weigh way too much money you should go
23:24
too much money you should go buy some equipment um that’s
23:26
buy some equipment um that’s traditionally what we hear.
23:27
traditionally what we hear. it’s usually an ugly cycle
23:28
it’s usually an ugly cycle where we go out and we want to
23:31
where we go out and we want to accelerate that depreciation um
23:33
accelerate that depreciation um so obviously doing that.
23:34
so obviously doing that. sometimes it’s the right move.
23:36
sometimes it’s the right move. Sometimes it’s the wrong move.
23:36
Sometimes it’s the wrong move. I know you’ve got a lot of
23:38
I know you’ve got a lot of expertise in this but um I
23:40
expertise in this but um I think looking at that. What are
23:41
think looking at that. What are your thoughts on cash flow? How
23:42
your thoughts on cash flow? How to buy it lease it finance it
23:45
to buy it lease it finance it pay cash um and what’s the
23:47
pay cash um and what’s the benefits of you potentially
23:49
benefits of you potentially potentially depreciating over
23:50
potentially depreciating over years or accelerating
23:51
years or accelerating depreciation for the. The tax
23:54
depreciation for the. The tax right off to offset the gain of
23:56
right off to offset the gain of income uh all thoughts,
23:58
income uh all thoughts, depreciation acceleration of
23:59
depreciation acceleration of buying equipment uh right now.
24:01
buying equipment uh right now. Yeah so and I do think that to
24:04
Yeah so and I do think that to to what you said the first step
24:06
to what you said the first step is like if you’re thinking you
24:07
is like if you’re thinking you need to buy equipment or you’re
24:09
need to buy equipment or you’re not sure if you should you know
24:10
not sure if you should you know whether you need it or not like
24:13
whether you need it or not like talk to your CPA the equipment
24:15
talk to your CPA the equipment is only like a small part of
24:17
is only like a small part of your overall tax picture and
24:19
your overall tax picture and your taxes are personal. They
24:21
your taxes are personal. They feel like they’re business to
24:22
feel like they’re business to us because most of our income
24:23
us because most of our income is not all of our income comes
24:25
is not all of our income comes from the business, but your
24:26
from the business, but your taxes are. Your CPA is gonna be
24:28
taxes are. Your CPA is gonna be the person that knows that even
24:29
the person that knows that even me as a bookkeeper like I don’t
24:31
me as a bookkeeper like I don’t know you your tax situation um
24:33
know you your tax situation um so make sure you’re talking to
24:35
so make sure you’re talking to your CPA about it. the idea of
24:39
your CPA about it. the idea of buying equipment in advance of
24:40
buying equipment in advance of the end of the year to get the
24:42
the end of the year to get the tax write off. not a bad idea
24:44
tax write off. not a bad idea if if you’ve got uh a bunch of
24:47
if if you’ve got uh a bunch of income that got stacked up this
24:48
income that got stacked up this year, especially in depending
24:50
year, especially in depending on what happens with the P
24:52
on what happens with the P loan, they still you know like
24:54
loan, they still you know like right now, the PPP loan and
24:55
right now, the PPP loan and any. Forgiveness that you get
24:57
any. Forgiveness that you get from it, It’s technically
24:59
from it, It’s technically taxable. so that’s that’s up in
25:01
taxable. so that’s that’s up in the air, but that that looks
25:02
the air, but that that looks like it from what I’ve seen
25:03
like it from what I’ve seen right now recently, it’s gonna
25:04
right now recently, it’s gonna be probably be taxed income
25:05
be probably be taxed income correct exactly. and so like
25:08
correct exactly. and so like that’s a ??? on an income
25:09
that’s a ??? on an income sitting there depending on what
25:11
sitting there depending on what you got right um and so so
25:13
you got right um and so so buying equipment might be a
25:14
buying equipment might be a great way to reduce your tax
25:16
great way to reduce your tax liability this year and offset
25:18
liability this year and offset some of that PP. If you got it
25:20
some of that PP. If you got it in your business, you know hung
25:20
in your business, you know hung in there and you’re okay. God
25:23
in there and you’re okay. God forbid if it didn’t like then
25:24
forbid if it didn’t like then you maybe the P was just
25:25
you maybe the P was just enough. Out and buying
25:27
enough. Out and buying equipment doesn’t make any
25:28
equipment doesn’t make any sense um but if you’re gonna
25:31
sense um but if you’re gonna buy equipment for tax purposes,
25:33
buy equipment for tax purposes, that doesn’t mean take all the
25:35
that doesn’t mean take all the money in your bank account just
25:36
money in your bank account just because you have the cash and
25:38
because you have the cash and go blow it out equipment. Okay
25:39
go blow it out equipment. Okay So just because you have the
25:42
So just because you have the money doesn’t mean you should
25:43
money doesn’t mean you should spend it cash the best use of
25:46
spend it cash the best use of cash is not equipment. It’s
25:50
cash is not equipment. It’s marketing grows your business
25:51
marketing grows your business equipment doesn’t grow your
25:52
equipment doesn’t grow your business. It just helps like
25:54
business. It just helps like fulfill that so marketing is.
25:58
fulfill that so marketing is. Investment that you can make
25:58
Investment that you can make the next best investment you
26:00
the next best investment you can make is usually in your
26:02
can make is usually in your people and maybe like the third
26:02
people and maybe like the third or fourth best investment would
26:04
or fourth best investment would be like better working
26:05
be like better working equipment um but just because
26:07
equipment um but just because you have the cash doesn’t mean
26:08
you have the cash doesn’t mean you should you know and let’s
26:10
you should you know and let’s say you’re gonna go buy a
26:12
say you’re gonna go buy a $30000 truck or a new trailer
26:14
$30000 truck or a new trailer mower or or whatever it is um
26:18
mower or or whatever it is um just because you have the cash
26:19
just because you have the cash don’t spend it. We have a we
26:20
don’t spend it. We have a we have a couple of rules at blue
26:22
have a couple of rules at blue skies that we use when we buy
26:23
skies that we use when we buy equipment so I’ll run through
26:25
equipment so I’ll run through those real quick one of them.
26:30
Always finance and um Ramsey
26:32
Always finance and um Ramsey would kill me. Dave Ramsey
26:33
would kill me. Dave Ramsey would kill me if you heard me
26:35
would kill me if you heard me say that, but he doesn’t really
26:36
say that, but he doesn’t really care who I am so I’m probably
26:37
care who I am so I’m probably in the clear um but always
26:39
in the clear um but always finance because you know us put
26:43
finance because you know us put an asterisks around that not
26:44
an asterisks around that not always the right thing for
26:45
always the right thing for everybody, but generally you
26:46
everybody, but generally you can get an interest rate for
26:48
can get an interest rate for five to 8%, financing and asset
26:51
five to 8%, financing and asset um because there’s collateral
26:52
um because there’s collateral right the asset um generally
26:56
right the asset um generally our service businesses generate
26:57
our service businesses generate a twenty to 30% return when we
26:59
a twenty to 30% return when we put marketing money into our
27:01
put marketing money into our business assuming. We know how
27:03
business assuming. We know how to manage the marketing of our
27:05
to manage the marketing of our business, It’s spits out the
27:07
business, It’s spits out the return if it did, we wouldn’t
27:08
return if it did, we wouldn’t do it right like our business
27:09
do it right like our business is nothing but this our own
27:11
is nothing but this our own personal stock market, we could
27:13
personal stock market, we could take our money go put it in the
27:15
take our money go put it in the stock market trying to get a
27:16
stock market trying to get a return Instead, we usually take
27:17
return Instead, we usually take our money put into our business
27:19
our money put into our business to try to get a return and in
27:20
to try to get a return and in general our businesses return
27:22
general our businesses return twenty to 30%. Let’s say you
27:25
twenty to 30%. Let’s say you will always want to go borrow
27:29
will always want to go borrow money at 8% and then go get a
27:31
money at 8% and then go get a twenty to 30% return like
27:33
twenty to 30% return like mathematically. That works
27:35
mathematically. That works every single time so instead of
27:38
every single time so instead of taking $30000, putting it all
27:41
taking $30000, putting it all into a truck you wanna finance
27:42
into a truck you wanna finance that truck, you’re still gonna
27:44
that truck, you’re still gonna get the tax right off of it,
27:46
get the tax right off of it, even though you didn’t spend
27:46
even though you didn’t spend all the cash like you still
27:49
all the cash like you still purchase that truck, it’s still
27:50
purchase that truck, it’s still an an asset. still be
27:52
an an asset. still be depreciated the same way
27:53
depreciated the same way whether you bought it on cash
27:54
whether you bought it on cash or financed it, but you’re
27:56
or financed it, but you’re gonna wanna finance it so that
27:58
gonna wanna finance it so that you can save your cash go
28:01
you can save your cash go invest in marketing and then
28:02
invest in marketing and then give that truck something to go
28:03
give that truck something to go do um the flip. That is never
28:06
do um the flip. That is never finance all of it. that it’s
28:09
finance all of it. that it’s super risky to finance 100% of
28:11
super risky to finance 100% of an asset A because the minute
28:14
an asset A because the minute we drive it off the lot. We
28:15
we drive it off the lot. We know that it loses value and
28:17
know that it loses value and now we’re upside down and
28:19
now we’re upside down and backwards and like that sucks
28:22
backwards and like that sucks in and of itself it feels ???
28:25
in and of itself it feels ??? for one so like reason number
28:26
for one so like reason number one not to do it is because it
28:28
one not to do it is because it just feels awful, but reason
28:30
just feels awful, but reason number two not to do it is
28:31
number two not to do it is because all of a sudden you are
28:33
because all of a sudden you are out of options, especially if
28:33
out of options, especially if you don’t have the. Buy it out.
28:36
you don’t have the. Buy it out. Um now you’re totally out of
28:39
Um now you’re totally out of options like you’re you’re
28:40
options like you’re you’re stuck. There’s not a whole lot.
28:41
stuck. There’s not a whole lot. You can do to get out of
28:42
You can do to get out of something that you’re
28:43
something that you’re underwater on um so the rule
28:45
underwater on um so the rule that we use is always put down
28:48
that we use is always put down at least 30% so there that
28:52
at least 30% so there that gives you a range like 30% you
28:54
gives you a range like 30% you have enough of a cushion that
28:55
have enough of a cushion that you’re not gonna get upside
28:55
you’re not gonna get upside down on it, but the other 70%
28:59
down on it, but the other 70% like get that leverage so that
29:01
like get that leverage so that you’re generating more income
29:02
you’re generating more income in your business spending in
29:03
in your business spending in our marketing. another thing
29:04
our marketing. another thing that you could. At that point,
29:07
that you could. At that point, if you know buying an asset
29:09
if you know buying an asset isn’t a thing, maybe you’re a
29:11
isn’t a thing, maybe you’re a home cleaning business and
29:12
home cleaning business and you’re you’re not running
29:14
you’re you’re not running company vehicles or anything so
29:15
company vehicles or anything so your assets are really like
29:16
your assets are really like you’re not gonna go buy a truck
29:18
you’re not gonna go buy a truck right. What what what are you
29:19
right. What what what are you gonna do with the truck? um see
29:22
gonna do with the truck? um see if you can buy marketing in
29:23
if you can buy marketing in advance to get the tax right
29:24
advance to get the tax right off this year, that might be an
29:26
off this year, that might be an option. see if you can get into
29:27
option. see if you can get into some contracts, you might not
29:28
some contracts, you might not make sense from a cash flow
29:30
make sense from a cash flow perspective and it doesn’t do
29:31
perspective and it doesn’t do it but again the the number one
29:33
it but again the the number one thing to invest in your
29:35
thing to invest in your business is marketing of the
29:35
business is marketing of the equipment doesn’t grow your
29:37
equipment doesn’t grow your business marketing and people
29:38
business marketing and people do so if you’re trying to get
29:40
do so if you’re trying to get some expenses that reduce your
29:41
some expenses that reduce your tax. Tax liability for this
29:44
tax. Tax liability for this year, like maybe even start
29:45
year, like maybe even start with marketing and like
29:47
with marketing and like prepaying some stuff so that
29:47
prepaying some stuff so that you can get that expense on
29:50
you can get that expense on your PNL. cool really good
29:51
your PNL. cool really good advice. a couple of things that
29:53
advice. a couple of things that that I honestly forgot that
29:55
that I honestly forgot that we’ve done uh multiple times in
29:56
we’ve done uh multiple times in the past instead of buying
29:58
the past instead of buying those big trucks and those
29:59
those big trucks and those things that right off, we would
29:59
things that right off, we would actually we’d spend 35 to
30:01
actually we’d spend 35 to $40000 in a month and a half to
30:03
$40000 in a month and a half to about a month in the spring for
30:04
about a month in the spring for that advertising rush and we
30:06
that advertising rush and we would literally go out and buy
30:07
would literally go out and buy that Pres Springs rush if we
30:09
that Pres Springs rush if we had the cash flow and we needed
30:10
had the cash flow and we needed to. Have an offset and I think
30:13
to. Have an offset and I think one of the biggest things that
30:14
one of the biggest things that allowed us to scale our
30:15
allowed us to scale our business exponentially quicker
30:16
business exponentially quicker than a lot of people in our
30:17
than a lot of people in our market is they were going out
30:18
market is they were going out and buying a new 3540 $1000
30:21
and buying a new 3540 $1000 trucks. we’re before they had
30:24
trucks. we’re before they had to work and you mentioned it
30:26
to work and you mentioned it like you the market’s gonna be
30:27
like you the market’s gonna be come before you buy the
30:28
come before you buy the equipment and if you have good
30:29
equipment and if you have good vendor relationships as far as
30:31
vendor relationships as far as your truck, your lawn mower
30:31
your truck, your lawn mower your trailer or whatever else
30:33
your trailer or whatever else you’re doing in that service
30:34
you’re doing in that service business, those things can be
30:35
business, those things can be bought within three to 5 days,
30:37
bought within three to 5 days, especially if you’ve got good
30:38
especially if you’ve got good credit if you have to do that
30:39
credit if you have to do that or if you’ve got cash money. So
30:41
or if you’ve got cash money. So those things are, I think it
30:43
those things are, I think it can be very dangerous because
30:45
can be very dangerous because we’re talking about cash flow
30:46
we’re talking about cash flow cash flow crush a lot of people
30:48
cash flow crush a lot of people in when that hit because people
30:50
in when that hit because people didn’t like they weren’t
30:51
didn’t like they weren’t planning on their business
30:53
planning on their business literally shutting down or
30:53
literally shutting down or going down to 20% capacity
30:56
going down to 20% capacity literally overnight so um cash
30:57
literally overnight so um cash flow is king. I think it’s
30:59
flow is king. I think it’s great advice you don’t wanna go
31:01
great advice you don’t wanna go out and spend that money um
31:02
out and spend that money um because you may need it um and
31:04
because you may need it um and if you really kinda need that
31:05
if you really kinda need that cash war chest um of maybe 8
31:08
cash war chest um of maybe 8 weeks as they did with payroll
31:09
weeks as they did with payroll protection or probably a. More
31:11
protection or probably a. More so if something does hit the
31:12
so if something does hit the fan, the second round of this
31:13
fan, the second round of this if it hits you’re available and
31:15
if it hits you’re available and if the government is not coming
31:16
if the government is not coming with a bailout, you can at
31:17
with a bailout, you can at least bail yourself out and
31:19
least bail yourself out and keep yourself afloat. um so as
31:21
keep yourself afloat. um so as we’re talking um towards the
31:23
we’re talking um towards the end of this day and I know your
31:24
end of this day and I know your time is very valuable.
31:25
time is very valuable. compressed schedules. I
31:26
compressed schedules. I appreciate you joining us last
31:27
appreciate you joining us last minute here with some things
31:28
minute here with some things changing here on the essay
31:28
changing here on the essay weekly this week. um it’s got
31:32
weekly this week. um it’s got me thinking so uh I know in my
31:35
me thinking so uh I know in my my journey as an entrepreneur
31:37
my journey as an entrepreneur uh early days to start out um
31:38
uh early days to start out um in high school going to
31:40
in high school going to college, we started out with
31:40
college, we started out with the D BA in college became.
31:44
the D BA in college became. Corp um and then with simple
31:45
Corp um and then with simple growth we originally came out
31:47
growth we originally came out and started in as a LLC and did
31:50
and started in as a LLC and did a um sub Chapter S Corp
31:52
a um sub Chapter S Corp election for actually filing
31:55
election for actually filing the taxes within LLC. So I
31:56
the taxes within LLC. So I guess over the last twenty-five
31:57
guess over the last twenty-five or 26 years, I’ve pretty much
31:59
or 26 years, I’ve pretty much have hit the gamut of
32:00
have hit the gamut of everything you do outside and
32:02
everything you do outside and actually C Corp uh so far as
32:04
actually C Corp uh so far as structuring the business if
32:06
structuring the business if we’re setting up our budget,
32:07
we’re setting up our budget, we’re buying sort of equipment
32:08
we’re buying sort of equipment for tax right offs and we’re
32:10
for tax right offs and we’re doing everything else we should
32:11
doing everything else we should do to set ourselves. For
32:13
do to set ourselves. For success is there anything we
32:15
success is there anything we need to be looking at if we’re
32:17
need to be looking at if we’re looking for our business
32:19
looking for our business election as far as the um the C
32:20
election as far as the um the C Corp, The S Corp, the d BA
32:22
Corp, The S Corp, the d BA whatever we’re looking at is
32:24
whatever we’re looking at is their timing and things we
32:25
their timing and things we should be looking at going into
32:26
should be looking at going into Q one 2021 to maximize the
32:29
Q one 2021 to maximize the benefit of the entity that
32:30
benefit of the entity that we’re actually using or if we
32:32
we’re actually using or if we do shift in attitude in that
32:34
do shift in attitude in that case, totally totally and I
32:36
case, totally totally and I think that if if somebody would
32:39
think that if if somebody would teach us before we start
32:40
teach us before we start businesses about like. Of The
32:42
businesses about like. Of The things that you need to know
32:44
things that you need to know before you start a business,
32:45
before you start a business, This should be like one of the
32:47
This should be like one of the top things is how to structure
32:48
top things is how to structure it when to become an S Corp
32:50
it when to become an S Corp when you should just be an LLC
32:51
when you should just be an LLC and what the tax ramifications
32:53
and what the tax ramifications are now like I’m I’m even an
32:55
are now like I’m I’m even an accountant in taxes like this
32:57
accountant in taxes like this like oh girls taxes um but like
33:00
like oh girls taxes um but like you have to have a basic
33:03
you have to have a basic understanding to know where
33:03
understanding to know where like how to be efficient with
33:05
like how to be efficient with your tax planning, one of the
33:07
your tax planning, one of the things that I see that trips
33:08
things that I see that trips guys up over and over and over
33:09
guys up over and over and over and over again is. Way too to
33:12
and over again is. Way too to become an escort, so you talk
33:14
become an escort, so you talk about doing it in both of your
33:15
about doing it in both of your businesses pretty early on and
33:16
businesses pretty early on and you said even in college you
33:18
you said even in college you guys you guys figure that out.
33:19
guys you guys figure that out. so yeah, we had a couple of
33:20
so yeah, we had a couple of crews and started actually
33:23
crews and started actually making more money in the
33:23
making more money in the business. I would’ve with my
33:25
business. I would’ve with my corporate gig so um you’ll
33:27
corporate gig so um you’ll probably elaborate but one of
33:27
probably elaborate but one of the things that I wish that
33:29
the things that I wish that she’s like people will tell
33:30
she’s like people will tell you. it’s like you need to get
33:31
you. it’s like you need to get your bookkeeper. you need to
33:32
your bookkeeper. you need to get your accountant and you
33:33
get your accountant and you need to get your financial
33:34
need to get your financial person and sometimes your
33:35
person and sometimes your lawyer all on the same page
33:38
lawyer all on the same page talking the same language um
33:39
talking the same language um but we’re accumulating uh
33:42
but we’re accumulating uh revenue and basically value to
33:44
revenue and basically value to that business when I was still
33:45
that business when I was still in college um. I didn’t
33:48
in college um. I didn’t necessarily own a house or
33:49
necessarily own a house or anything, but I wanted to
33:51
anything, but I wanted to basically get that corporate
33:52
basically get that corporate veil over what we’ve actually
33:56
veil over what we’ve actually built. uh yeah and that was I
33:57
built. uh yeah and that was I was blessed enough that uh a
33:59
was blessed enough that uh a lawyer that I knew was like,
34:00
lawyer that I knew was like, hey you need to get with an
34:02
hey you need to get with an accountant that knows what
34:03
accountant that knows what they’re talking about and and
34:04
they’re talking about and and really look at that entity
34:05
really look at that entity because you’ve got four or five
34:07
because you’ve got four or five employees. you may still be in
34:08
employees. you may still be in college, but you own a few
34:09
college, but you own a few trucks and equipment and um you
34:11
trucks and equipment and um you know that’s gonna be too. so I
34:12
know that’s gonna be too. so I don’t wanna cut you off, but I
34:13
don’t wanna cut you off, but I just that was the turning
34:14
just that was the turning point, but it’s entrepreneurs
34:15
point, but it’s entrepreneurs around this. Island and this is
34:17
around this. Island and this is where social media everything
34:19
where social media everything is beautiful because now we can
34:21
is beautiful because now we can talk to each other virtually
34:22
talk to each other virtually and share these experiences and
34:24
and share these experiences and learn from each other. but um
34:24
learn from each other. but um I’ll let you get to that point,
34:26
I’ll let you get to that point, but I think you’re about to
34:27
but I think you’re about to make it extremely important
34:28
make it extremely important point. so yeah. so let me let
34:31
point. so yeah. so let me let me first say like how the
34:33
me first say like how the income and taxes are gonna work
34:35
income and taxes are gonna work if you’re not an S Corp. so if
34:36
if you’re not an S Corp. so if you’re not an S Corp today the
34:39
you’re not an S Corp today the way this is gonna go is you’re
34:40
way this is gonna go is you’re not paying yourself a salary
34:42
not paying yourself a salary even if you take money out of
34:43
even if you take money out of the of the business, it’s
34:44
the of the business, it’s basically considered an owner.
34:46
basically considered an owner. If you’re not an employee of
34:48
If you’re not an employee of the business, um what’s gonna
34:50
the business, um what’s gonna happen is the business is gonna
34:52
happen is the business is gonna make however much money. it
34:54
make however much money. it makes what you pay yourself is
34:56
makes what you pay yourself is irrelevant to that government
34:57
irrelevant to that government doesn’t care the government’s
34:59
doesn’t care the government’s gonna tax you let’s say you do
35:02
gonna tax you let’s say you do 100000 in revenue and the
35:03
100000 in revenue and the business makes 40000 of that in
35:07
business makes 40000 of that in earnings. Maybe you paid it all
35:08
earnings. Maybe you paid it all to yourself. Maybe you took
35:09
to yourself. Maybe you took every time out of the business
35:11
every time out of the business as a distribution The
35:11
as a distribution The government doesn’t care that
35:12
government doesn’t care that you took the money or not the
35:14
you took the money or not the government’s gonna tax you on
35:16
government’s gonna tax you on that forty. 000 As if it was
35:18
that forty. 000 As if it was your payroll so they they this
35:21
your payroll so they they this is called self-employment tax.
35:22
is called self-employment tax. It’s they they hit you twice
35:25
It’s they they hit you twice you pay the employer’s side of
35:27
you pay the employer’s side of that payroll tax and then you
35:29
that payroll tax and then you pay the employee side of that
35:30
pay the employee side of that payroll tax. That’s the
35:32
payroll tax. That’s the self-employment tax and then
35:33
self-employment tax and then you pay your income taxes on
35:34
you pay your income taxes on top of that so they basically
35:37
top of that so they basically tax you as if you’re an
35:38
tax you as if you’re an employee of the business
35:39
employee of the business anyway, you pay taxes as if
35:42
anyway, you pay taxes as if you’re the employer and the
35:43
you’re the employer and the employee and then you pay your
35:45
employee and then you pay your income taxes. so if you.
35:48
income taxes. so if you. Narrative and you become an S
35:49
Narrative and you become an S Corp now you have to pay
35:51
Corp now you have to pay yourself a wage. Let’s say you
35:53
yourself a wage. Let’s say you pay yourself you know same
35:55
pay yourself you know same numbers business does 100000
35:56
numbers business does 100000 you have profitability of
35:59
you have profitability of 40000, but let’s say you paid
36:00
40000, but let’s say you paid yourself 20000 of that as a
36:02
yourself 20000 of that as a wage now you only pay payroll
36:04
wage now you only pay payroll taxes on that 20000 you don’t
36:06
taxes on that 20000 you don’t pay payroll taxes on the other
36:08
pay payroll taxes on the other 20000. so what’s 15.3%?
36:15
And that in and this is if
36:16
And that in and this is if you’re doing 100000 if you’re
36:17
you’re doing 100000 if you’re doing more than 100000, you
36:19
doing more than 100000, you know in revenue and depending
36:20
know in revenue and depending on your profitability like
36:21
on your profitability like we’re talking thousands and
36:23
we’re talking thousands and thousands of dollars here where
36:24
thousands of dollars here where you’re leaving on the table if
36:26
you’re leaving on the table if you’re not an S Corp um and
36:28
you’re not an S Corp um and paying yourself as an employee,
36:31
paying yourself as an employee, but therefore only having to
36:32
but therefore only having to pay payroll taxes on a portion
36:34
pay payroll taxes on a portion of that income. So like I said
36:36
of that income. So like I said when you become an S Corp, then
36:37
when you become an S Corp, then you’re an employee of the
36:39
you’re an employee of the business of that corporate
36:40
business of that corporate bail, you pay payroll taxes on
36:42
bail, you pay payroll taxes on your wage when you take it but
36:43
your wage when you take it but your distributions. You’re the
36:47
your distributions. You’re the income of the business doesn’t
36:48
income of the business doesn’t get tax payroll. It just gets
36:50
get tax payroll. It just gets taxed as income to you so save
36:52
taxed as income to you so save you thousands of dollars in
36:53
you thousands of dollars in payroll taxes basically and the
36:57
payroll taxes basically and the I’ll say the tipping point
36:57
I’ll say the tipping point where it starts to make sense
37:00
where it starts to make sense is if you’re that LLC taxes a
37:02
is if you’re that LLC taxes a sole proprietor when the income
37:04
sole proprietor when the income of your business not the
37:05
of your business not the revenue. But after all the
37:07
revenue. But after all the expenses are taken out,
37:09
expenses are taken out, including depreciation,
37:11
including depreciation, including everything what’s
37:12
including everything what’s left if that income. Net for
37:16
left if that income. Net for the year starts to creep over
37:18
the year starts to creep over like twenty to 25000 That’s the
37:21
like twenty to 25000 That’s the time to become an S Corp.
37:22
time to become an S Corp. That’s where like and there’s
37:24
That’s where like and there’s benefit before that don’t get
37:25
benefit before that don’t get me wrong But when you become an
37:27
me wrong But when you become an S Corp, you’re gonna have two
37:28
S Corp, you’re gonna have two tax returns to file. you’re for
37:30
tax returns to file. you’re for sure gonna want a CPA to do the
37:31
sure gonna want a CPA to do the filing for you. So now you’re
37:32
filing for you. So now you’re gonna have fees to pay two tax
37:34
gonna have fees to pay two tax returns. um so there’s a little
37:36
returns. um so there’s a little bit of complexity added in
37:38
bit of complexity added in therefore, if you’re making
37:40
therefore, if you’re making less than 25000 in that income
37:41
less than 25000 in that income in your business, it’s it’s not
37:43
in your business, it’s it’s not necessary. You’re not gonna
37:44
necessary. You’re not gonna gain that much. But if you’re
37:46
gain that much. But if you’re if you’re doing over twenty to
37:48
if you’re doing over twenty to 25000 in net income and that’s
37:49
25000 in net income and that’s remember, it’s not it doesn’t
37:51
remember, it’s not it doesn’t matter if you’re taking money
37:52
matter if you’re taking money out of business like if the
37:53
out of business like if the business is net income is over
37:55
business is net income is over that twenty to 25000 then 2
37:57
that twenty to 25000 then 2 days you should be talking to
37:59
days you should be talking to your accountant so that on
38:01
your accountant so that on January 1st, you’re an escort
38:04
January 1st, you’re an escort like yeah, you got a perfect
38:05
like yeah, you got a perfect opportunity clean split end of
38:07
opportunity clean split end of year escort love it could
38:09
year escort love it could decide better myself. I
38:11
decide better myself. I appreciate it and it’s just
38:12
appreciate it and it’s just it’s these things you don’t
38:13
it’s these things you don’t know you don’t know so this is
38:14
know you don’t know so this is kind of why we’re doing this
38:15
kind of why we’re doing this um. You get to the top of the
38:18
um. You get to the top of the hour you want to wrap this up
38:19
hour you want to wrap this up in a few minutes just so we can
38:22
in a few minutes just so we can respect your time and you can
38:23
respect your time and you can go out there and uh hunting
38:23
go out there and uh hunting gather and do what you do in
38:25
gather and do what you do in the woods uh brother. I mean it
38:27
the woods uh brother. I mean it man of the wild out there
38:28
man of the wild out there hunting. I mean I honestly feel
38:30
hunting. I mean I honestly feel like the holiday is roughing it
38:31
like the holiday is roughing it for me cuz I don’t have room
38:33
for me cuz I don’t have room service half the time so I
38:34
service half the time so I gotta respect the hustle
38:35
gotta respect the hustle outside the uh one part of part
38:38
outside the uh one part of part of that. it’s a date my wife’s
38:39
of that. it’s a date my wife’s coming with me um I’m gonna
38:41
coming with me um I’m gonna have the bow she but she’s
38:42
have the bow she but she’s gonna come with and hang out.
38:43
gonna come with and hang out. It’s our you know, get away
38:45
It’s our you know, get away from everything date. So we’ll
38:46
from everything date. So we’ll see. Good luck with that uh
38:48
see. Good luck with that uh couple of questions. Jamie
38:50
couple of questions. Jamie wants to know that um she’s
38:51
wants to know that um she’s worked with a couple of
38:52
worked with a couple of businesses in Europe. uh can
38:54
businesses in Europe. uh can you would you uh services be
38:55
you would you uh services be able to help someone in Europe
38:57
able to help someone in Europe or do you have any suggestions?
38:59
or do you have any suggestions? Um it kinda wrapping into that
39:00
Um it kinda wrapping into that as well? um question uh if
39:03
as well? um question uh if people wanna reach out to you
39:04
people wanna reach out to you and connect with you and
39:05
and connect with you and potentially get that targeted
39:06
potentially get that targeted budget free template that
39:07
budget free template that you’re gonna be given away here
39:08
you’re gonna be given away here shortly uh how do people reach
39:10
shortly uh how do people reach out to you at blue skies? go to
39:13
out to you at blue skies? go to your blue skies.com and then on
39:15
your blue skies.com and then on our bookkeeping tab there. I’ll
39:18
our bookkeeping tab there. I’ll I’ll I’ll drop our website in
39:19
I’ll I’ll drop our website in the comments, but if you go to
39:20
the comments, but if you go to your blue sky. There’s a
39:22
your blue sky. There’s a bookkeeping tab, you can kinda
39:23
bookkeeping tab, you can kinda fill out and put a little
39:25
fill out and put a little comment that you’re you heard
39:26
comment that you’re you heard us on the simple growth podcast
39:29
us on the simple growth podcast and we’re we’re you know
39:30
and we’re we’re you know talking about the budgeting
39:31
talking about the budgeting thing if you want want that
39:33
thing if you want want that kinda prescribe, I’m building
39:35
kinda prescribe, I’m building it right now um and I’m trying
39:37
it right now um and I’m trying to get some input on it as to
39:38
to get some input on it as to you know what is useful for
39:40
you know what is useful for people. What’s not useful for
39:41
people. What’s not useful for people? keep it super uh like
39:44
people? keep it super uh like simple like obvious easy to
39:47
simple like obvious easy to fill out kinda like you’re
39:47
fill out kinda like you’re talking about the p one that I
39:48
talking about the p one that I made. it’s like yeah, it was it
39:50
made. it’s like yeah, it was it was beautiful. It was nice, was
39:52
was beautiful. It was nice, was simple. It wasn’t too
39:53
simple. It wasn’t too complicated, but it got what
39:53
complicated, but it got what you needed to get out of. so
39:55
you needed to get out of. so that’s what I love about you
39:56
that’s what I love about you guys uh we’re at blue skies
39:57
guys uh we’re at blue skies just uh known for the last few
39:58
just uh known for the last few years. It’s just kinda giving
40:00
years. It’s just kinda giving good content and uh just
40:01
good content and uh just helping everybody out with
40:02
helping everybody out with those free giveaways and things
40:04
those free giveaways and things like that, obviously, if people
40:05
like that, obviously, if people need expert help, they’re gonna
40:05
need expert help, they’re gonna reach out to you for the paid
40:07
reach out to you for the paid services, but uh very similar
40:08
services, but uh very similar to what we’re trying to do here
40:09
to what we’re trying to do here at the SA just kinda drop some
40:11
at the SA just kinda drop some knowledge and help people over
40:12
knowledge and help people over those hurdles that we’ve had
40:14
those hurdles that we’ve had unfortunately uh get lucky
40:15
unfortunately uh get lucky enough to get over and work
40:18
enough to get over and work through um but yeah, check it
40:18
through um but yeah, check it out in the comments your blue.
40:21
out in the comments your blue. Dot com. check it out and uh
40:24
Dot com. check it out and uh Dan and Sean are always there
40:26
Dan and Sean are always there and you get you get subscribe
40:27
and you get you get subscribe to that templates. um in
40:28
to that templates. um in addition here uh as you can see
40:30
addition here uh as you can see on the screen here we’ve got um
40:32
on the screen here we’ve got um the simple growth podcast on
40:33
the simple growth podcast on all your major platforms. uh
40:34
all your major platforms. uh right now. Uh we’ve got that so
40:36
right now. Uh we’ve got that so this one here is uh on Spotify
40:39
this one here is uh on Spotify and all the major channels. If
40:40
and all the major channels. If you can’t join us on the
40:41
you can’t join us on the Facebook live, you’re still out
40:42
Facebook live, you’re still out on the truck or the cleaning
40:44
on the truck or the cleaning crew you wanna throw some
40:45
crew you wanna throw some headphones in and uh spend a
40:47
headphones in and uh spend a half hour to 45 minutes with us
40:48
half hour to 45 minutes with us a week um they’re updated
40:50
a week um they’re updated within an hour of the show
40:52
within an hour of the show usually uh we’re well over.
40:55
usually uh we’re well over. Episodes right now, so uh the
40:56
Episodes right now, so uh the essay weekly talk show just
40:59
essay weekly talk show just search simple growth um in any
41:00
search simple growth um in any of the major iTunes, Spotify
41:02
of the major iTunes, Spotify anchor you name it. We’re there
41:04
anchor you name it. We’re there just helping grow the community
41:07
just helping grow the community um and build this system here
41:09
um and build this system here in the ecosystem say what’s up
41:10
in the ecosystem say what’s up to Hobie Baird as well, uh
41:12
to Hobie Baird as well, uh long-time watcher great guy guy
41:14
long-time watcher great guy guy just crushing it down in
41:15
just crushing it down in Savannah, Georgia, as well, I
41:16
Savannah, Georgia, as well, I had a great time with uh hobby
41:18
had a great time with uh hobby and his wife at the uh quality
41:19
and his wife at the uh quality driven software conference last
41:21
driven software conference last year at Savannah with uh other
41:22
year at Savannah with uh other certified. Adviser Martha
41:26
certified. Adviser Martha Woodward and I’m telling you if
41:27
Woodward and I’m telling you if you if you don’t have it on
41:30
you if you don’t have it on your calendar and you’re
41:30
your calendar and you’re comfortable travel and Martha’s
41:31
comfortable travel and Martha’s uh got some room that I believe
41:33
uh got some room that I believe for her uh PDS 2021 conference
41:35
for her uh PDS 2021 conference down in Cancun uh depending on
41:38
down in Cancun uh depending on travel restrictions in New York
41:39
travel restrictions in New York here I may be uh visiting that
41:42
here I may be uh visiting that conference uh attending vendor
41:45
conference uh attending vendor and everyt
41:47
So can’t wait brother uh we
41:48
So can’t wait brother uh we will see you there any closing
41:49
will see you there any closing thoughts and obviously if you
41:51
thoughts and obviously if you have any questions for Dan, how
41:52
have any questions for Dan, how to hook up with him and grab
41:54
to hook up with him and grab his template at your blue
41:56
his template at your blue Skies.com link to it in the uh
41:59
Skies.com link to it in the uh comments as well so any closing
42:00
comments as well so any closing thoughts. I really appreciate
42:02
thoughts. I really appreciate you joining us so for for
42:03
you joining us so for for jeannie’s question about
42:03
jeannie’s question about working in Europe, I don’t uh
42:06
working in Europe, I don’t uh we don’t have any clients in
42:07
we don’t have any clients in Europe. not to say you know
42:10
Europe. not to say you know business is business and
42:11
business is business and finances finance. I don’t know
42:13
finances finance. I don’t know what the exchange rate is
42:14
what the exchange rate is today, but. Toy is a lot like
42:17
today, but. Toy is a lot like dollars to dollars, so I might
42:18
dollars to dollars, so I might not be able to do work for
42:20
not be able to do work for them, but I can sure as that be
42:23
them, but I can sure as that be a resource for them. So yeah,
42:23
a resource for them. So yeah, if not anything else I should
42:25
if not anything else I should grab that template. I know a
42:26
grab that template. I know a simple believe it or not is now
42:27
simple believe it or not is now pretty international. so we
42:28
pretty international. so we started out in the states uh
42:30
started out in the states uh North America and Canada. now
42:31
North America and Canada. now we’ve even got service
42:33
we’ve even got service Autopilot users um in England
42:35
Autopilot users um in England and believe in that Australia
42:36
and believe in that Australia so if anybody’s watching in
42:38
so if anybody’s watching in Australia, we’ll uh we’ll
42:39
Australia, we’ll uh we’ll figure out a two-day deep dive.
42:40
figure out a two-day deep dive. If you cover the air man, we
42:42
If you cover the air man, we need to get away from uh crazy
42:43
need to get away from uh crazy New York State. So. Until next
42:46
New York State. So. Until next week es a weekly talk show Mike
42:48
week es a weekly talk show Mike Callahan here uh Dan Planner
42:50
Callahan here uh Dan Planner from blue skies and uh watch
42:51
from blue skies and uh watch out for some big announcements
42:53
out for some big announcements of some new guests coming in uh
42:55
of some new guests coming in uh on the SA weekly talk show, but
42:57
on the SA weekly talk show, but um possibly gonna be having
42:58
um possibly gonna be having Marcus Sheridan of they ask you
43:00
Marcus Sheridan of they ask you answer of the sales line uh
43:02
answer of the sales line uh definitely gonna be having Lisa
43:04
definitely gonna be having Lisa Marino of the uh service
43:06
Marino of the uh service Autopilot marketing team and
43:07
Autopilot marketing team and field edge uh Lisa’s on
43:10
field edge uh Lisa’s on probably 18 months ago and just
43:11
probably 18 months ago and just dropped a knowledge bomb on
43:13
dropped a knowledge bomb on marketing Facebook. And you
43:15
marketing Facebook. And you name it um she’s just a
43:17
name it um she’s just a powerhouse so looking forward
43:18
powerhouse so looking forward to a lot of big things coming
43:20
to a lot of big things coming down on the SC Weekly talk show
43:22
down on the SC Weekly talk show looking forward to our talk
43:23
looking forward to our talk next week uh Dan and you know
43:25
next week uh Dan and you know we’ll be posting in but uh
43:26
we’ll be posting in but uh working on uh market shed. so
43:28
working on uh market shed. so that’ll always be a good one.
43:30
that’ll always be a good one. he was at uh as a five 2 years
43:33
he was at uh as a five 2 years ago, I just saw him at the top
43:34
ago, I just saw him at the top 100 lawn care lawn and
43:36
100 lawn care lawn and landscape magazine like I got
43:37
landscape magazine like I got behind me here, State of the
43:38
behind me here, State of the industry Top 100. He drop some
43:41
industry Top 100. He drop some knowledge on what he’s talking
43:43
knowledge on what he’s talking about and if you haven’t picked
43:44
about and if you haven’t picked up your discounted tickets for
43:45
up your discounted tickets for essay thrive, Marcus is
43:47
essay thrive, Marcus is actually gonna be the head
43:48
actually gonna be the head keynote uh talking about. Video
43:51
keynote uh talking about. Video in your sales process, I always
43:51
in your sales process, I always thought to be gleaned from
43:53
thought to be gleaned from Marcus as he’s a silent partner
43:55
Marcus as he’s a silent partner with river pools and spas and
43:58
with river pools and spas and the sales line where he’s going
43:59
the sales line where he’s going out and teaching other
44:00
out and teaching other businesses to crush it like he
44:01
businesses to crush it like he did at river pools and spas so
44:03
did at river pools and spas so til next week as a weekly talk
44:04
til next week as a weekly talk show, Mike Callahan, Dan Plata
44:07
show, Mike Callahan, Dan Plata uh twelve central 1 PM Eastern
44:10
uh twelve central 1 PM Eastern We’ll see you next week. Thanks