What I Learned From A Business Owner Making $29k/mo

Hey oh, builders, makers and owners. I braved the air traffic control shortages and rode in a driverless taxi to share with you how I learned to outcompete PE firms and buy Freedom by buying the right Main Street biz.

I just got back from an incredible conference in Austin, Codie Sanchez’s Main Street Over Wall Street, and it was nothing short of inspiring. I got to meet Codie herself, rode in a driverless robot taxi, and soak up wisdom from some truly fascinating folks.

Here are the three key takeaways that I think you’ll find both relatable and actionable:

1. The Lone Star Garbage Guy’s Journey
   Spencer, a self-taught entrepreneur, shared his story of starting a garbage business in his own neighborhood with zero prior experience. In under two years, he’s grown it into a $1.5 million recurring revenue business. He was refreshingly honest about his mistakes, like buying a $35,000 garbage truck online sight unseen and made business ownership feel both achievable and relatable. He emphasized that you don’t have to reinvent the wheel: he literally copied successful website templates and Facebook ads from others, just tweaking the copy. For a bit more of his humor and down-to-earth approach, you can check out this video of Spencer telling his story.

2. Arthur Brooks on the Real Ingredients of Happiness
   Arthur Brooks, a professor at Harvard Business School, gave a talk about happiness that really stuck with me. He compared happiness to the smell of a turkey dinner, happiness is the experience of something deeper. Arthur Brooks’ formula for happiness

The idea is that business ownership, with all its challenges, provides a path to that deeper happiness. You can find more of Arthur’s insights in his book The Happiness Files: Insights on Work and Life and watch one of his talks on happiness here.

3. Learning from Fellow Entrepreneurs (and a Lady from Palau!)
   The conference wasn’t just about the big names. I met a handyman business owner from Dallas who shared his hiring secrets using VideoAsk to screen candidates on video an idea I’m definitely borrowing. And I met a woman who turned a natural disaster’s aftermath into a $2.5 million composting business by repurposing wood chips. Plus, I even learned about Palau and its double reef system, which was just fascinating and a reminder of how diverse and innovative people can be.

I hope these stories bring you a little spark of inspiration. It’s all about finding meaning in the journey, embracing the learning curves, and connecting with others who are on the same path. Let’s go build something great!