The Hidden Cost of $750M in Revenue | Tracy Holland

I think for entrepreneurs, if you are someone thinking about becoming an entrepreneur and you haven't done it yet, the fastest way to success is to create momentum and create success and show yourself that you can do it.

So at 9, 10, 11, 12s, when my friends were doing whatever they were doing and I was very focused on how to create these micro businesses, I saw success quite early.

So I was making money and always had a stream of income where I had now resources and access to different things that I wanted to do.

So for example, I would earn enough money so I could do horseback riding lessons.

And that to me was something that was really, really important to me was to be able to learn how to ride an equestrian or ride a horse.

And so why that's important is as I got into 15, 16, 17, I thought what kind of role or what could I do that would earn the most income for me with the best outcome? And so I started waiting tables.

And waiting tables is probably one of the fastest and best cash producing opportunities for an evening that you could spend your time doing.

That's, you know, a good clean business, let's call it.

So I started to wait tables and I found that waiting tables was like running your own business because you would have a section and you'd be designated, let's say eight to 12 tables in that section.

And it's actually a beautiful business model.

Think about it.

You have no inventory to buy.

You get to leverage someone else's balance sheet.

It's all about your personality.

It's about how you show up and It's how you connect.

It's how you make the person feel.

And then your job is to deliver on the products that they order.

And then your outcome is whatever that tip or that cash outcome is.

And I would generate so much money in an evening, I couldn't believe like this is legal.

And I started to realize the nicer the restaurant, the more expensive, the higher the tip by just by virtue of the, so, you know, I spent 17, 18, 19, 20, all through college, spending time waiting tables and doing that on a Friday, Saturday, Sunday night, or Thursday, Friday, Saturday, Sunday.

And it gave me access to a great lifestyle.

And so...

When you're an entrepreneur, I think, or if you're inclined to want to think about, how do I look at my current book of business? How do I look at my current fundamentals? And then where can I bolt on or bring additive value to my clients to expand my income? Most of us are sitting on a tremendous amount of value and leverage that we don't really understand.

how to fully utilize, make impact for ourselves because people purchase from people they know, like, and trust, right? And in my twenties and going into what I soon became my first, second, third business, every single time I approach a business, I approach it with this heart led service led mentality, right? of how do I under-promise and over-deliver so that the people I'm working with feel valued, feel seen, feel heard and connected with.

And when you deliver that kind of experience, there's really no limit to how much money you can generate.