Introduction to Business Growth Levels 1:12

• Understand the importance of changing as a business owner to facilitate business growth.

• Recognize that achieving $100,000/month requires specific skills and sacrifices.

Level 1: Zero to $10,000 15:16

• You are the sole operator: cleaner, trainer, HR, marketer, and salesperson.

• Focus on learning essential skills: cleaning, marketing, sales, bookkeeping, and using technology.

• Aim to hire cleaners to duplicate your efforts in the field.

Level 2: $10,000 to $20,000 21:00

• You are still cleaning and managing the team.

• Build systems for hiring and onboarding cleaners.

• Hire a Virtual Assistant (VA) to handle day-to-day tasks.

Level 3: $20,000 to $40,000 38:05

• Focus on creating a reliable system for acquiring new leads and converting them into clients.

• Hire intentionally to build a culture of empowered cleaners.

• Track data and ensure consistent client experiences.

Level 4: $40,000 to $60,000 49:12

• You are busy managing the team and booking new clients.

• Reinforce team standards and provide feedback regularly.

• Start optimizing schedules and potentially increase prices.

Level 5: $60,000 to $80,000 52:25

• Teach your team to replicate your successful processes.

• Ensure that your team can produce results independently.

• Focus on leadership and coaching.

Level 6: $80,000 to $100,000 54:10

• Transition from doer to coach, empowering your team.

• Manage office staff and a larger team of cleaners.

• Focus on duplicating successful systems for continued growth.

• Understand that growth requires time and effort; do not expect immediate results.

• Be prepared for challenges and setbacks at each level; they are part of the learning process.

• Regularly review and refine your systems to ensure they are effective.

• Invest in training and development for yourself and your team to enhance skills.

• Maintain open communication with your team to foster a positive work environment.

1. Introduction to the Concept of Mondays 0:01

• Discussion on the perception of Mondays as a negative day.

• Common phrases people use to fill the silence about Mondays.

• The irony of dreading Mondays after enjoying weekends.

2. Shifting Mindset About Weekends and Work 1:32

• The idea of maintaining a routine over the weekend to avoid Monday anxiety.

• Importance of keeping momentum in business by working on weekends.

3. The Origin of Decadent Days 3:34

• Explanation of decadent days as one-day consulting events.

• Structure of decadent days: dinner, problem-solving sessions, and follow-up.

4. Transition from Decadent Days to Community Building 5:17

• Realization that clients needed more than one-day consulting.

• Development of a community with modules and group coaching.

5. Introduction to Group Decadent Days 5:44

• Shift from one-on-one to group decadent days.

• Focus on community and teaching frameworks.

6. The Purpose of Group Decadent Days 6:26

• Addressing the problem of managing money after making it.

• Importance of understanding how to keep and grow money.

7. Recap of Previous Calls and Learning 7:30

• Reference to last week's call about measuring business success.

• Encouragement to watch the replay for those who missed it.

8. Highlighting Success Stories in the Community 9:25

• Introduction of Julia as a successful member of the community.

• Discussion of her rapid success in building a cleaning business.

9. The Importance of Following Proven Strategies 11:02

• Julia's success attributed to following guidance and overcoming resistance.

10. Skills vs. Natural Talent 12:04

• Emphasis on the importance of developing skills rather than relying on perceived natural talent.

11. The Difference Between 93% and 7% of Businesses 12:55

• Discussion on the mindset differences between those who succeed and those who don't.

12. The Role of Sacrifice in Success 49:01

• Importance of prioritizing business over comfort and temporary pleasures.

13. Conclusion and Call to Action 53:09

• Encouragement to create impactful stories through business success.

• Reminder to watch the replay for further insights.

Introduction to Profit Margins 5:03

• Understand the importance of achieving a 20% profit margin for business sustainability.

• Recognize that profit margins are targets for businesses generating over $60,000 a month.

Step 1: Establish Revenue Goals 6:05

• Focus on reaching a minimum revenue of $60,000 per month.

• Prioritize growth and reinvest profits until reaching this threshold.

Step 2: Understand Cost of Goods Sold (COGS) 14:40

• Allocate 55% of revenue to COGS, which includes:

  • Cleaner wages

  • Payroll taxes

  • Supplies and uniforms

• Recognize that COGS is a necessary expense that directly correlates with revenue generation.

Step 3: Manage Office Staff Expenses 26:07

• Limit office staff wages to 12% of revenue.

• Invest in coaching and training before hiring additional staff to ensure efficiency.

Step 4: Allocate Marketing Expenses 34:05

• Set aside 6% of revenue for marketing efforts aimed at acquiring new clients and cleaners.

• Adjust marketing spend based on business needs and revenue growth.

Step 5: Control Other Office Expenses 39:59

• Keep other office expenses, including utilities and software, to 7% of revenue.

• Be flexible in reallocating funds based on operational needs.

Final Calculation of Profit Margin 40:04

• After accounting for all expenses, ensure that the remaining revenue equals 20% profit margin.

• Regularly review profit margins quarterly to account for variations in expenses.

• Ensure that all financial records are accurately maintained using accounting software like QuickBooks.

• Avoid common pitfalls such as misclassifying expenses that cannot be deducted, including:

  • Federal and state income taxes

  • Self-employment taxes

  • Tax penalties and interest

  • Credit card payments

  • Down payments for real estate

  • Distributions from the business.

• Regularly review and adjust your budget to reflect changes in revenue and expenses.

• Invest in training and coaching to improve operational efficiency before hiring additional staff.

• Monitor your profit margins quarterly to identify trends and make necessary adjustments.