#OldMoneyProfessions #ScalingJobs #BlueCollarProfessions
Hey all,
I stumbled upon this subreddit and could not help but chime in to shed some light on “Old Money” professions. In this post, I will share examples and insights on how to scale blue-collar jobs and turn them into lucrative opportunities.
**What Are “Old Money” Professions?**
“Old Money” professions refer to established trades that have been around for decades, offering stable and profitable career paths. These jobs may not be considered trendy or glamorous, but they provide a solid foundation for financial success. Examples include HVAC technicians, electricians, plumbers, and truck drivers.
**Scaling Blue-Collar Jobs: Examples and Strategies**
1. **Case Study: Dumpster Cleaning Entrepreneur**
– One client noticed a hotel’s smelly dumpsters and offered to clean them for free.
– Secured a contract to clean all the hotel’s dumpsters regularly.
– Expanded to other hotels, hired staff, and scaled the business to generate over $2M in revenue annually.
– Key takeaway: Identifying a niche service and securing contracts can lead to significant growth.
2. **Trucking Enterprise Expansion**
– Start as a self-employed truck driver, learn the industry, and save money to buy your own truck.
– Expand by purchasing additional trucks and hiring drivers.
– Transition from driving to coordinating and managing the fleet.
– Eventually, sell the business or retire with passive income.
– Key takeaway: Scaling a trucking business by investing in additional vehicles and personnel can lead to financial success.
3. **Acquiring an Established Business: Accounting Practice**
– Bought a small accounting practice from a retiring owner.
– Generated passive income by hiring an accountant to manage the practice.
– Grew the client base and revenue over time.
– Sold the practice to the accountant for a profit.
– Key takeaway: Acquiring an existing business and optimizing its operations can lead to long-term profitability.
**Strategies for Scaling Old Money Professions**
1. **Learn the Trade**: Master the skills and knowledge required for the profession.
2. **Identify Opportunities**: Find niche services or underserved markets for expansion.
3. **Invest in Growth**: Allocate resources to purchase equipment, hire staff, and scale operations.
4. **Delegate and Manage**: Transition from hands-on work to overseeing the business and staff.
5. **Plan for Exit**: Develop a long-term strategy to sell the business or retire with passive income.
**Conclusion: Building Wealth in Established Trades**
In conclusion, “Old Money” professions offer opportunities for scaling and financial success. By starting in blue-collar jobs, mastering the trade, and strategically expanding operations, individuals can build lucrative businesses in long-standing industries. Remember to learn from mentors, focus on profitability, and plan for sustainable growth to achieve success in these timeless professions.
I hope this post provides valuable insights into scaling old money professions. Feel free to ask for more advice or share your experiences in the comments. Now, I’ll head back to my racecar bed for some well-deserved rest. Cheers! 🚚💼💰.
#BlueCollarSuccess #ScalingOpportunities #FinancialFreedom #EntrepreneurialJourney.
shhhh don’t expose hidden industries the YouTube gurus haven’t stolen yet
Iman gadzhi about to make his new video from all these points 💀
nothing wrong in doing “old money” jobs. because i dont wanna do it (its boring af for me and im not gonna do it for all the money in the world) and im happy if others do because they are very much needed
A terrific post. Thanks.
I’ve been a consultant for 30+ years now and looking for the next chapter.
Plumbing intrigues me!!
I’ve never been so attracted to a man with bulging wealthy knowledge before. You’re huge, Mr. Diggler, and such a hardened post, I think I like it. Thank you for sharing such a long and detailed brain dump!
Thank you for this post and for sharing all this information! I’m a new entrepreneur with an apparel e-commerce business.
In the example that you used, in my industry could this be learning from my apparel business (which right now one could consider a “sexy” business to run but obviously highly competitive) and then eventually using the knowledge from running that business to move on to something like materials sourcing? Some of the sourcing/factories I work with are a lot of older people, so would the idea be to take over from them?
Now this is ACTUALLY good advice
I joined SCORE and have a mentor, but I could always use others, esp. with help on technics (“How do I use this to do this?”) and assessing follow-through on actions. I talk to my current mentor one hour per month, and only virtually.
For identifying online or solo businesses for sale, I suspect talking with mentors is a lot more useful than trying to ID over-priced businesses whose owners want to sell in the open market.
I am disappointed. Based on the title I would have thought this was a discussion of how to break into the robber baron or highway man profession.
Given your name and title of the post, I’m deflated to learn this is not a guide to Pimpin Hoes.
Thank you for sharing your knowledge. It was highly informative, and I’d like to learn more in future posts!
Thank you for this post. It describes exactly the kind of profession I am looking for. How does one get started in such a business when you’re low on net worth?
May I also ask what kind of consultancy you run and how you started it?
This is what I want for myself. Amen.
Scaling “old money” jobs: underrated yet highly effective.