I’m 20 and Making $1,000,000 (But There’s a Big Problem)

I’m 20 and Making $1,000,000 (But There’s a Big Problem)
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[@queen.kristal8395]

you are doing way better than the average working person

[@chrism2042]

It's tough on a young guy. I started my commercial/industrial electrical contracting business in my mid-20's, by 28 I had 45 employees with 5 foremen. Other than an occasional helper hire, I was the youngest, most older guys have a problem listening to a dude in his 20's. But after using the nice guy approach and employees taking advantage of it, I had to change things up and replace a few, things changed after that.

[@benderproductions3909]

Where did you first learn the electrical trade, to be able to start a business like that?

[@chrism2042]

@@benderproductions3909 - Started as a helper as a teen. My friends Dad was a residential electrician, he took us on jobsites to work during the summer, when I turned 15 I got a workers permit and worked with him as much as possible. Joined the Army at 17, got out at 21 and went back into electrical work but doing learning commercial electrical. After having a year of than under my belt, I applied for a electrical helper job in an industrial poultry plant, just for the experience, knowing commercial and industrial electrical was the way to go, not residential. I learned so much at the plant in a short period of time. High voltages, equipment, motors, starters, running conduit and so on, averaged working 80-90 hrs a week at that job. The key as a helper, don't just do what you are instructed to do, ask questions, (how does it work and why do you do it this way). The people with decades experience and knowledge are a wealth of information if you just ask. After years of contracting and doing sub-contract electrical designs for engineers, I turned that into an engineering business. Now in mid 50's with decades of electrical experience and over 20 years engineering work, I see how much someone with the experience can help young guys if the young guys want to learn. I have never regretted getting into the electrical field! There are options to keep going further or just be a electrician, I chose to keep learning.

[@Jason4Star]

This should be a Leadership Masterclass. Dave.... bravo sir.

[@jadonnoble5621]

I run a lawn care business as well. This kid decided to scale up which can really give you a lot of headaches. I’ve realized that scaling up a mowing business is tough because of labor, equipment expense, and weather factors. I have just over 100 properties with one part time employee and things are pretty smooth and the take home pay is fairly comparable to what this guy makes. The difference is I do the manual labor but I’m 26 so it’s not a big deal. Since he is 20 he should have no problem doing the work either. This is just my opinion on this industry. It’s so tough to scale up and actually bring home more money. The headaches are also much worse!!

[@ReaganMalas]

Wait so you only average cash flow $125/mo per property that you own ? $150,000 / 100 properties / 12 months .... Is that what's to be expected in the real estate industry ?

[@jadonnoble5621]

@@ReaganMalas I think you are confused with what I said. I don’t own 100 properties. I mow over 100 properties for clients I have. I also don’t work 12 months out of the year. I usually have 2 months off in the winter and march and December are usually not full months. I’m talking about mowing properties, not owning properties lol

[@ReaganMalas]

@@jadonnoble5621 gotcha.. that makes more sense. That's pretty great money man. Congrats.

[@jadonnoble5621]

@@ReaganMalas thanks man! If you like manual labor, you can make great money in lawn care.

[@toddbenfield6546]

I agree! I’ve worked with 1 guy for 35 years! A lot less headaches👍it’s working for me. I now have a net worth of 3 million✌️

[@buckybarnes3803]

Notice how none of the business discussion here was about the numbers at all

[@Jmedina24]

Yeaaaa????

[@Masterofnon3]

Other calls have. Listen consistently to get the most out of this podcast. It's not about 1 video, watch enough and you will find yourself with added second hand experience.

[@Kyle_G_Sy]

Maybe because the guy asked a question about leadership and not numbers...

[@thebullgator]

If you focus on relationships in business the money will follow. If my employees are happy and customers are happy then I’m happy and the profits are always solid, everyone should be winning in every business transaction.

[@sheldenmixon2354]

I agree, no discussion of pricing or incentives based approach on working. Seems as if he likely needs a larger lead funnel and higher prices. He likely would be able to manage this company if it charged higher prices to less customers, maybe closer customers etc. managing needs to be about numbers and paying to motivate.

[@carolyncook6970]

Love ya Dave but I think you should have acknowledged that he is 20 years old with a million dollar business. That’s incredible!!

[@barnealevi]

so insightful and eye-opening

[@BrianW211]

If you have 6 crews with multiple people each and a staff of only 9, then the vast majority of your workers are 1099 employees. Why would you be surprised at the high turnover of either the workers or the crew leaders that have to deal with them?

[@Rashaadthegr8]

More of these calls I hear the more I feel like im in the wrong business.

[@SamLee-ds7fi]

Your telling me 😂 I thought mid 6 figures was a good year then I hear stuff like this

[@Rashaadthegr8]

@@SamLee-ds7fi you making me feel worse. lol.

[@jgh1987]

@@Rashaadthegr8 the guy takes home 150

[@ST5S5]

@@jgh1987yeah exactly. It’s not exactly printing money

[@Rashaadthegr8]

@@jgh1987 oook?

[@matthewtowler9735]

“How do you know that?” He thought Dave actually meant one of the crew leaders could be some of the younger guys actual dads 😂 Great video as always!

[@ovx1]

I think he said "I didn't know that", referring to the single parent household statistic.

[@RobinDamronII]

Example of do as I say… not as I do right here. “Don’t use foul language”…. Moments later “The customer is …”

[@cibo23]

He is not making a million!!! Americans need to learn revenue is not “making” if your bring home income is 100k it is 100k regardless you make 1 million revenue or 10million.

[@paydenallen9552]

Absolutely. Makes the college grads with 75k or 100k salary feel inadequate and enter a depression spiral online.

[@farzana6676]

​@paydenallen9552 If they're college grads they should be able to tell when someone is talking about revenue or someone is lying about the figures. Otherwise they wasted all their college time learning DEI nonsense.

[@OakQueso]

@@farzana6676couldn’t agree with you more. That’s why med school is such a waste, it doesn’t teach you about revenue!

[@farzana6676]

@OakQueso Med students don't know what's revenue? That's disappointing. Spend less time learning DEI and more time learning the basics.

[@David_99778]

Facts

[@jonathanharber9530]

He called just to brag 😂

[@Rashaadthegr8]

She must truly love him because the wage gap is phenomenal. I would feel like terrible if I was married to someone making half the money from a side hustle I was making with my fulltime job. I wonder if it is fulltime? Can't be. I don't mind a woman making more money but I must be working full time and doing my best.

[@carolr7823]

Maybe they need to pay their people more. That would likely reduce the turnover.

[@Gamerz00760]

A lot of people won't do the work for the pay & a lot of people don't want to pay $8000+ for some landscaping. A lot of hidden costs in business. I had a gross of almost 80k, but my company paid almost 100,000 and I made a net of like 45k or so. I never realized how much was paid by a business even though I literally didn't see half of what they paid out. I had very low benefit contributions too. Too much in taxes. Turnover rate is very high because people don't want to work in rain, mud, hot & cold weather or lift heavy stuff. It is also terrible on your body longterm. Weeding, lifting, digging all takes a lot of energy. I did it for a while It isn't for everyone. Worst part is too many don't even want basic labor jobs like in a shipping department/warehouse.

[@frankcb11]

Yes one of the biggest challenges in this space.

[@frankcb11]

6crew leaders on a nine man crew?

[@andrephillips7764]

Bro is Forrest Gump

[@jeffreyblaise3198]

I’ve never heard Dave Ramsey curse lol

[@JB-kx9bx]

This call doesn’t make any sense. To pull a million revenue with 6 crews you’d have to be pulling $2,500-$4,000 a day depending on how long the season is. I find it hard to believe they have the client base to maintain that revenue. This is very much a feast or famine business that can get easily saturated. Especially if he has high turnover it’s hard to maintain that kind of production capacity. Clients will easily drop you if you can’t go when you need them.

[@cp90_]

850 lawns a month for 12 months at 20, I doubt that.

[@jenniferbussiere2529]

Great title...Can I have your problem pls?

[@Fc9ers]

most people cant handle his probelm

[@flybyav8tor]

Sure, go build a profitable business.

[@michaelgerow3161]

That's the oldest sounding 20 year old

[@michaelgerow3161]

I've heard

[@thomasschott4068]

He doesn’t make $1M clickbait title

[@jogmas12]

He can own a Bugatti in 3 years

[@OptimalOpinion]

I doubt this so much. Just shilling HOW low value labor can make U rich. My opinion

[@joelfortier-s5x]

I bet it’s true, lot of money in the labour odd jobs.

[@OptimalOpinion]

@@joelfortier-s5x is that Y illegal are being bussed in ?

[@7779-c3m]

Then start your own business , The only way your eyes will open !!!

[@OptimalOpinion]

@@7779-c3m I run multi business - I cannot get rich on labor

[@jadonnoble5621]

It’s true. In lawn care you can make a lot just by mowing yards. I have just over 100 clients and usually service about 90 a week. I have one part time helper. My average yard is around $50. If you take 90*50= $4500 a week. That’s close to $20k a month. The season last around 9 months. He has 6 crews so I can definitely see him bringing in closer to $1 mil especially if he is doing landscaping jobs as well.

[@ryanheaton8742]

Some of these videos are just unrealistic.

[@knav6680]

Clickbait! It wasnt specified how much this guy makes

[@mickeylegalhawk6510]

Pickup a weed eater

[@dhrdan]

These caller call ins get more and more fake. This call in is faaaaake as hell. How did this 20yr old get the money to lead so many crews 35-50???.... something doesn't sound right. This kid is the son of the real owner.

[@jameswalker590]

Maybe he's taking over the family business or inherited some money and bought the business. The age of the crew leaders is irrelevant. There's no law saying you have to be older to be an owner or leader/boss.

[@IbrahimKone-ix4qi]

I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated.

[@JoseLopez-lf9rw]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@DivaHarrison]

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.

[@JoseLopez-lf9rw]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@DivaHarrison]

Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.

[@IbrahimKone-ix4qi]

nice!! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?

[@TheOfficialFloridaMan]

Y’all businesses doing rookie numbers. I’m doing like 11M gross at 23 & still doesn’t feel like enough

[@1radley]

What do you do?

[@TheOfficialFloridaMan]

@ I own a construction company

[@davesyoutubechannel1951]

Sure buddy