The founder of Local Handyman skipped paychecks for three years, reinvesting every dollar to scale the business. He increased the firm's valuation ten-fold by hiring strong people instead of paying himself, betting that growth now meant bigger payoffs later.
I have not taken a paycheck from Local Handyman, from my amazing company here, in 3 years. And guess what? That to me is one of the biggest things that people go, wow, you haven't taken a paycheck in 3 years? Yes, we've reinvested. Myself and my business partner have reinvested every dime back into this business to grow the business, get the right people on board, and take this company to the next level. Now you'll hear comments out there, profit first, you should pay yourself first. Number one, make sure you're taking money outta your business regularly. When you are growing in the way we growing and you wanna grow a very strong business, that's sustainable, that has a lot of strength, that has a lot of value in it. We've 10x'd the value of this company in the 3 years that we've owned it. And yes, it's taken a lot of work, a lot of sacrifice. But guess what? That's what needs to happen in order to grow a very successful business. We've reinvested everything to take it to that next level so that when we get to where we want to be, yes, there'll be enough massive abundance coming from this business. But at the same time, it only takes time because we need a team on board. We needed great human beings to be part of this journey with us. And we could only have done that by putting money into the company consistently and regularly without taking a paycheck. So my suggestion to you is when you're growing a business and you know where it's going, and you know that you're good at sales, and you can drive the sales in your business, reinvest the dollars to help you scale really quickly, as opposed to take money out and grow slowly and potentially never scale. So think about that. Hope that helps you and you think about it differently for your business.
