saving money is stupid. (and 3 other lessons we’ve learned running a business)

[@davidbass6103]

This is some of the absolute best business advice that is repeated over and over again by nearly every credible business resource available. Jenny and Davis just distill it down to one to two sentences that make it very accessible for everyone. Kudos, guys!!

[@danielslagle6440]

You two are fantastic! I'm 61 and have done multiple businesses, woodworking included. Started with a cheap circular saw and free pallet wood and did what I could. Made some cool stuff, actually, and went from there. TOOLS! My second wife at first didn't understand my buying tools and the money and we had some issues over it, but now, she along with my 7 kids have learned their value. And guess who gets a call when someone needs something? "Call dad, I'm sure he has one or two, or twelve!" You guys are going to go far.

[@HalfAssHomestead]

I have to make a comment about the Don't save money. If you run a business, and have employees who are loyal to you, when times are good, you have to save some of that money. You have to make payroll to retain your employees, even when you have little for them to do. For me, that says find other streams of generating money, and retrain those employees to do other tasks, so you can build an empire, and not be stuck in just one niche market.

[@electricianron_New_Jersey]

Buying tools to make the job easier and faster is a no-brained. 100% agree with that!

[@Cecil_X]

Where I work we have a term "paralysis through analyses." We compete on quality and must analyze, but one needs wisdom to know where returns begin to diminish.

[@joeleonetti8976]

I'm a big fan of the 80 20 principle. Often 80% of the results can be sorted out with 20% of the effort. As such, just a little research will steer you in the right direction.

[@UriValdez]

I learned the hard way that you get what you pay for. Having the tight tool for the job is essential and having a great quality tool makes your work even more pleasant. I've been wanting a bandsaw and keep telling myself that I can't afford it yet, meanwhile I can afford everything else, great advise you guys!

[@MrEmbedded]

I had a boss and I told him "I can save you money by...." He stopped me and said "I am in business to make money, not save money! Do not save me money, make me money." Needless to say I remember that lesson....

[@triplegcustoms]

Instructions unclear... went broke buying new tools 😂 good video guys!

[@richardjones8236]

I think this is your best video of business tips. I especially agree with your approach to new products. Don't be a solution in search of a problem like your farmhouse writing desk. Discover the problem and then develop your solution. Great job on this one, you two! Happy Thanksgiving!

[@bigfrancesca]

Just because the glowforge is expensive it doesn't mean it's the best or will save you money. It's slow as heck and in the end is wasting your time which is you losing money. Makes no sense.

[@faronmastin8683]

You are 100% right on wasting time trying to save money but you also have to buy good tools I wasted time on cheap tools that didn't last when I first started then learned to pay more money for better tools. You guy's are awesome and hope you make a million.

[@wilsonnixon9957]

You said that you put flyers in mailboxes for your farmhouse writing desk but did you put postage on it? If not the mail carrier is required to take it out and sometimes you’ll get a fine. Only the post office is allowed to put things in mailboxes.

[@daviddionne8296]

True. Talk to your postman….

[@backwatercabinetproducts4170]

Great video on how to sell and grow!

[@brendonmyburgh]

Glad you made the point of the track saw. Not to say anything was wrong with my circular saw because it was something i dug deep in the pockets for and is a quality saw, then added an aftermarket track. It did the job and not half bad either BUT..... I got my Makita track saw 2 days ago after a huge Black November blow out sale (very fortunate) and that singular tool has just shot my quality of cut up through the roof not to mention, the time saving and the list goes on. Epic episode guys. cheers from sunny South Africa 🇿🇦

[@Christopher-pf8qt]

Consider expertise and how that contributes to the time to finish a project as a big part of your pricing.

[@8thsinner]

You need to learn that your idea is never your idea, it doesn't come from you. It comes TO you, because you are in a position to act on it and create it. No idea in history was ever given to anyone that didn't have that potential. Not Einsteins theory of relativity or anything else. Look back over history, ideas happen to materialise when people are ready, and they are given out in places independent from each other to people that can make them happen. Well actually you don't need to learn that, you aren't studying quantum physics and collective consciousness principles, but given you have the creative gene it would benefit you to understand this. You have at least learned not to hesitate already, and to follow your passion.

[@nasost]

Loved the upside down Cool Transition!

[@johngregg5735]

Two stories: First: I took a class in setting up a photography business. Since I'm a geezer, there was a significant age gap between me and my fellow students. One of my classmates wanted to photograph livestock (cattle et al), and complained that most of the people wanted the student to photograph their pets, but not livestock. I suggested that the student double their prices and do pets. Not interested. Second: New digital camera equipment is not cheap. One of my classmates saved ~~10% on a $2,000 camera by buying one used. If the light meter had lasted longer than a week, it might have been worth it.

[@octaandy]

Thanks for all the great videos and info. I've ground through ALL of them over this last week or so 😅. Last night as I was nodding off I was even hearing 🎶 Stick to the plaaan 🎶. I want to thank y'all, you guys are one of the few channels that have re-inspired me to get back into woodworking and turn it into a business, plus get my YT personal ADHD journal restarted. I'm moving across the country just before Xmas and can't wait to get everything started. I'm going to be focusing on handmade luxury jewelry & luxury wood kitchenware. I'm also be joining the stud stack as soon as I can begin to focus on the business.

[@gabihuggins5042]

Thank you for sharing the lessons you learned!

[@robertlivingstone3947]

Thats how you learn you find out what works

[@friedgizzard]

A good price guide is 20% of the customers that want an item should think it cost too much. That is the perfect price.

[@johnalbrecht3831]

I thought Jenny was eating cheese puffs because her fingers were orange Then I realized it was her nail polish …lol

[@juniorfigueroa2904]

Ok charging a high price and selling less or charging a lower price and selling more at a more profitable because of the quantity?

[@Itsthatoneguy371]

I’m always impressed how you share your experience. You are definitely great people! How’s the commercial space shopping going or did I miss a video or two?

[@rickyjohnroofing8757]

I always say cheap is expensive it will always end up costing more in the long run.

[@JayMumper]

Gotta say, at first I thought Jenny had just devoured a bag of Cheetos when she slowed down waving her hands enough and I could tell it was actually yellow nails (very seasonal). 😎

[@raygilmore3534]

I thought the same thing lol

[@wcfpjfox]

Caught her in the workshop… it wasn’t her

[@bobbyjordan2882]

I'm having a difficult time finding hardwoods to make charcuterie and cutting boards. I live in Alabama. Any suggestions on where and pricing? Thanks.

[@matthewhaaland4004]

Bobby Jordan, what hardwoods are you looking for? I specialize in walnut. Want to talk?

[@bobbyjordan2882]

@@matthewhaaland4004 I would like to look at getting some walnut cherry Purple Heart maple ash etc. I’m making cutting boards and charcuterie boards. Hard woods work the best I’m told.

[@jd_creations_wood3968]

Great video guys!! Only down side was Jenny’s orange nails got me tripping as the lighting made the fronts look like inside of her finger tips.

[@robrocco5420]

I love your cool transition at 4:56 it is cool

[@deanmartin7593]

😧 every track saw is not made the same. I’m in shock

[@jennieanddavis]

Saw spins blade. Saw rides on track. Saw plunges. Blade cuts wood next to track. Saw slides on track. Tell me a brand of track saw that doesn’t do that.

[@deanmartin7593]

@@jennieanddavis you’re confusing does the same and made the same. By that logic, you’re clients should buy ikea cutting boards and a branding iron because, customer takes out cutting, places food on cutting board, cuts food, see’s the realtors name on board. Also, do you buy a standard blade or a specific blade for the saw because again, blade spins, blade cuts wood. “Tell me what brand of saw blade doesn’t cut wood”. If you’re saying that as long as a similar product achieves the same goal then you may as well throw your business plan in the bin and point any potential customers to the nearest ikea. Their media units have legs, sides, a back and doors. So the same as your media unit, correct?

[@timb4569]

It's ok to save money, but the focus should be on MAKING MONEY

[@jennieanddavis]

If you make enough, you never need to save 😉

[@harleyhaynes]

Not saving money for an unforeseen event or to take advantage of and exceptional deal is really bad business advice. Just like and emergency fund for personal finance you should have an emergency fund for your business. I and for the love of all things decent do not use credit as a emergency fund.

[@daviddionne8296]

Saving Money?…”Good Tools Do Work….Bad Tools Make It! SawStop rocks once you find out the cost of losing a finger…. Just sayin…

[@timb4569]

if you haven't made mistakes you haven't done anything yet.

[@Tropicoboy]

I got confused i though Jenny had cheeto fingers.

[@MrMarkraffaele]

why did you ever tell me about pickles!?!?

[@anthonymiller8979]

"And no one cancelled their order" You raised prices on customers who had already ordered?

[@jennieanddavis]

They had verbally committed to buying furniture from us, price wasn't nailed down.

[@onefifthtoofifthwedfifthbr5371]

I’m literally the first comment

[@chriswhitley3283]

Hey, was just looking at some work and I thought where are my friends Jennie and Davis.

[@Wigmaster1527]

Y’all are both excellent business consultants. I can see some company inviting you to their business for the day sorta like renting a Jennie/Davis team. Price yourselves high...like $5000/day...or whatever....just a thought.

[@goforthbmerry]

quick care and feeding of the algorithm