Steve Hunsaker | Home Service Accelerator

Paid an international contractor via crypto today…. We’re all in agreement this many years later that it absolutely is not an efficient way to transact whatsoever… right?

@LiamStraebler I wish

@blessThisMoney It’s horrendous and not possibly a currency anyone is going to transact with any time soon lol

Idk if this is controversial or not but… If you’re young and bootstrapping an SMB from 0 and truly believe in yourself, throwing 15% of your already slim income into the stock market isn’t good advice for you All effort/attention needs to be on getting your income up first

“But it’s about compound gains and time in the market Steve” I was netting $40k a year in the beginning. That’s $6000 a year put into the market and you’re barely paying rent at that income in major markets. All effort needs to be on income.

@walt_russell02 Maybe we have a bit of survivorship bias but it worked for me lol

@dylthorn This wasn’t about selling the business (although that’s hopefully the outcome for most at some point) This is about channeling all of your effort and resources into getting your income up as fast as possible.

@dylthorn 15% of what income? Bootstrapping from zero most guys are netting less than a Home Depot employee their first year

@dylthorn @markfzhuk And if my aunt had balls she’d be my uncle Dylan!!!!

When I was 22 I bought a house with my sales commissions $283k Sold it 3 years later for $482k Blew $100k on crypto and NFTs… it pretty much all went to zero Now at 31 it’s just weekly buys into the S&P500 and bitcoin and go to sleep Painful lessons but definitely memorable

@lgsguy Just did that too lol

@blessThisMoney I don’t have a favorite because they’re all cooked 😂

I started my 🎅 light biz in 2020 ‘21 we 3x ‘22 2x rev growth then my brother died at 30 in peak of szn Operator ran biz into ground Dec 22 I had $22k in checking and $20k in payroll Paid rent on a CC all year ‘26 i eat Froyo 2-4x/week with my hot latina gf Never give up

@irentdumpsters You heard wrong

@irentdumpsters What are you, my mother?

I started my 🎅 light biz in 2020 ‘21 we 3x ‘22 3x rev growth then my brother died at 30 in peak of szn Operator ran biz into ground Dec 22 I had $22k in checking and $20k in payroll Paid rent on a CC all year ‘26 i eat Froyo 2-4x/week with my hot latina gf Never give up

@mattressguy_ @mattressguysbro 💜 appreciate you gang. Yeah he seems like it from everything I see…

Things I do not care at all about and tell me nothing about your business’ health: -cost per lead -close rate -revenue

@markfzhuk How nice you are 🥹🥹🥹

@markfzhuk How much money is spent vs how much is in the bank account at the end of the month

@markfzhuk “Better than I deserve”

"If you can't buy it 3x in cash you can't afford it" is financial advice that will alter the trajectory of a young person's life if they follow that rule.

@KenziesPoolBoy If you’re going to say house is the one exception I’ll agree

My controversial take is that 99% of the “leverage debt bro… Dave Ramsey is an idiot” guys are paying credit card interest every month 🤫

@irentdumpsters I think 9/10 dudes would be in a lot better positions if they listened to Dave. My early 20s self sure would have. Dave stops making sense when guys are staring down the barrel of 6 figure tax bills. But until that point people would be a lot better off financing nothing

@TheSoftWashPro Your business and model would fall into the 1% category. Dave is giving personal finance advice mostly, not massive ecomm businesses like yours 😎

I paid rent on a credit card for an additional 9% processing fee for most of 2022 after grossly mismanaging my lighting business and making some bad hires. No point to this post whatsoever… sometimes I just like to remind myself of what real stress felt like 😂

@ikehobbs I believe Notorious B.I.G. had a verse about this

@SmallParcelGuy Categorized under the: ‘Things that were not fun’ label

The non-hustle p*rn number all young men should scramble to get to is $300,000 a year and no debt outside of mortgage That’s where life stops being stressful. Dumping thousands a month into the market. Buy houses that don’t suck. And can pay away most of life’s inconveniences.

@LiamStraebler I made less than $100k a year take home for the first 5 years of biz ownership

@pjmcgeary It certainly won’t achieve virality but it’s real lol

@profithuntercfo It hurts sometimes

@irentdumpsters Oh thank God

@jamesonhaslam No dependents Jamo

@dylthorn Depending on what your SMB does and on how you comp yourself and what your margins are

@ToddLlewellyn @dylthorn You are correct. Hence my response to him. If you’re actively operating the business you should account for your operators role (salary) and then take distributions of net profit after. I pay myself a base from HSA and Valley and then take distributions at year end

@sternburger_ My neighbor has a house for sale 🤐

Things I did in year 1 of home service ownership that I don’t do anymore in year 6: 1 Hire friends/family 2 kill marketing spend when busy 3 Live out of the business bank account 4 Give 15% discounts 5 care about rev $ more than net $ 6 Think US politics impacts my biz growth

@Shubhamkhatwani Good stuff now try it again but without ChatGPT!

@DanKats23 Dude I was just taking draws Willy nilly back then lol. No books, nothing. Just grab $1000 here, $500 there, why not!

@HunnidMedia No

Viewing all purchases I make in my personal life relative to post-tax income has given me a lovely look at how stupid some purchases are. Ex: you make $200k a year and buy a $100k car…. No you take home $125k a year and just bought a $100k car… Feels a lot more dumb that way

@dylthorn That was a hypothetical lol. I don’t even think my car is worth $30k lol

@dylthorn I did but never for 100k lol not even close

@dylthorn Oh yes. Best car ever

And you’re afraid to stop pressure washing garbage bins because you bought a $20000 rig in 2021 and still haven’t turned a profit https://t.co/XlqMZRf3NM

@ToddLlewellyn I only know numbers based on how many water softener installations that equates to

probably because a car wash that sold for $300k wouldn’t profit enough in a year to pay off the loan in any scenario But everyone on this app with IQ’s above 70 thought this already The reason most people “aren’t doing this” is because this post is a complete fabrication😂 https://t.co/yiSUzCJXeq

@ikehobbs I like to think of it as an awareness campaign 😂

Absolutely absurd. Garage doors selling for a tech multiple lol Home services 📈📈📈 https://t.co/i3cxUNjvHX

@markfzhuk BULLISH ON INFO FOR EQUITY

I would be 10x richer right now if I didn’t try to pay myself 6 figures in my first 2 years of owning my businesses because that’s what I felt I “deserved” 🙄 https://t.co/4OycZ0cm6k

@sodacitysimpson I lived out of the business bank account Cole plz forgive me

There is a very real chance that the 5 truck window cleaning company and 1 truck owner-operator in your market just filed nearly identical tax returns

@HunterG46253182 Sure sure sure

@jarydesign A lot of times guys push to get a bunch of trucks on the road because that’s the best lever to pull to fix the capacity issue to grow the business. What happens is a lot of those guys don’t understand just how much more expensive running a biz of that size is and how much more