Turn trash into cash

First story

Starting a $10 million waste management business is the focus of this video for aspiring entrepreneurs. The key first step is to attract customers, which can be achieved by reaching out to people in your existing network. Utilizing your phone contacts is a simple method to start this process. Engaging with contacts like Caleb can lead to potential opportunities, as demonstrated in the conversation about providing trash removal services at a wedding. By offering a free trial of services and requesting feedback, this approach can convert acquaintances into paying customers. This strategy, along with three other methods, is part of the “Core 4” techniques discussed in this segment of Money Center. The video showcases an individual engaging in a scripted but effective dialogue to secure business opportunities through personal connections and service offerings.

Second story

Young individuals globally are finding solutions to the trash problem. In Kenya, bricks made from recycled plastic are being used to pave roads. Plastic waste is not just a local or national issue, but a worldwide concern. In Sierra Leone, sustainable cooking fuel is being created from coconut shells instead of wood, thanks to an 18-year-old innovator who developed the recipe after months of dedication. Similarly, in the United States, a woman has saved 4 million beer bottles’ worth of glass from landfills by recycling them into sand. These examples highlight how individuals can make a significant impact in combating global waste issues. Entrepreneurs are emerging to invent new methods to benefit the planet while also turning a profit from waste management. In Nairobi, a company aims to install plastic bricks on streets, and a young entrepreneur named Zombie Mate founded Jijenge Makers in 2018 to process various types of single-use plastics. By repurposing plastic waste, these initiatives are contributing to environmental sustainability and inspiring further action worldwide.

Third story

Imagine launching a waste management venture and raking in $30,000 within just 11 days in the field. Spencer Scott, known as your mom’s favorite garbage man, achieved just that. Transitioning from a software job behind a screen to leading a garbage business, his life transformed rapidly in a matter of weeks. Today, we delve into how he kickstarted his journey, accelerated cash flow, and perfected deal-making strategies. Welcome to Main Street Millionaires. Scott stumbled into the idea while observing discontent in a Facebook group over a company transition that sparked outrage. Seizing the opportunity, he proposed starting a trash company, prompting 150 enthusiastic responses within hours. By setting up a payment link and rallying 200 commitments for a three-month service plan, Scott raised $155,000 in pre-orders in a mere 10 days. Calculating potential demand in his neighborhood, Scott devised a pricing model that resonated with residents, securing 150 sign-ups. With minimal customer service needs, as content customers equated to efficient operations, Scott only needed to dedicate one day a week to trash collection. In just 15 days, Scott generated $5,000 in monthly recurring revenue before officially launching his business. The rapid success prompted him to act swiftly, from acquiring a suitable trash truck to sourcing bins for clients. Despite initial logistical challenges, Scott’s resourcefulness led him to secure used bins promptly through a third-party vendor. Initial branding mishaps did not deter client satisfaction, emphasizing the community’s support for Scott’s grassroots initiative. As the venture gained momentum, Scott’s strategic growth plans included expanding bin inventory and projecting potential annual revenues of $150,000 in lean years and up to $500,000 in prosperous times. With profit margins estimated at 20% and a scalable business model, Scott’s pragmatic approach to financing and debt management sets a foundation for sustainable growth and profitability in his newfound trash business.