In this episode, we are joined by Dave “Laundromat Millionaire” Menz sharing how his humble beginnings did not stop him from being successful as we discuss the topic from Poverty to Prospering.
Here are three reasons why you should listen to the full episode:
- Hear how Dave Menz went from selling candy in school to a millionaire.
- Discover how Dave was able to make his business stand out and grow.
- Learn how sacrifice can pay off in business.
Episode Highlights
Who Is Dave Menz
- Dave shares that his family had very humble beginnings, which caused him to face several struggles growing up.
- He also shared that as a child in order to purchase snacks or treats, he and his siblings had to learn to be resourceful.
- He also shared that from a tender age in life, he developed an entrepreneurial spirit that has led him to where he is today.
How Did Dave Begin?
- Dave shares that, growing up, he learned to survive on the bare minimum. That propelled him to start little business ventures such as mowing lawns and re-selling candy in school.
- He shared that as a youngster, he was stubborn and believed that he too could be successful and achieve the freedom and independence that came with entrepreneurship.
- He says that he was not encouraged to pursue entrepreneurship by his family but that didn’t stop him from going after his goal.
- After having a regular 9-5 job for 13 years, learning valuable skills for business, and climbing the corporate ladder, Dave had an epiphany. He realized that he still wanted to be an entrepreneur and started working towards having his own business.
The Business
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After making cutbacks in his personal and family life, Dave bought a laundromat, and through thorough research and commitment, he was able to learn the Laundromat business.
He also shares that in his initial introduction he learned that people within the industry did not respect the laundromat business and its owners.
Dave decided that he had to operate differently than other persons in the laundromat industry to make and be the change he wanted to see.
Dave shared that he spent a lot of time and money reinvesting in his business and its operations. He has been able to expand and turn it into a million-dollar business.
Dave’s difference in approach to the laundromat business has opened many doors for him financially. He has since published a book and offers coaching to other persons in the industry so that they too can be successful in their business.
Valuable Advice
- Dave says some of the most valuable lessons he has learned are that you should not allow other people to limit you, you should not do anything illegal or unethical and that delayed gratification will bring success.
3 Powerful Quotes from This Episode
“If you want something in life you better go figure out a way to earn it.”
“There are no limitations on what I can accomplish.”
“Don’t let others tell you what you can and can’t do; don’t let others put limitations on you.”
About Dave Menz
Dave grew up in poverty and overcame superhero-like obstacles. His story, revealed in his debut book, Laundromat Millionaire – The Grit to Elevate an Industry’ is a life and a business journey that doesn’t stop at rags to riches. It begins with a stubborn and obsessive mission to be a business owner with a tenacious and genuine purpose to help others to do the same. Dave teaches the principles of relentless studying of the greats to be great and knowing that even if an industry – like laundry – isn’t sexy, you can make it so. His initial foray into business ownership was a side hustle alongside his corporate gig with Cincinnati Bell. He found his first business on Craigslist. Once he owned it, he overhauled it from struggling, losing money and outdated, to one that was a valuable proposition to serve as a vital community asset. His vision expands beyond owning multiple businesses under the auspices of Queen City Laundry. He shares his wisdom on his podcast and is a sought-after guest on podcasts and coach. Always the student, he expands his business model – and reach – to serve needs discovered.
As a picked-on kid who was told he had limited options, to his readers, employees, fans, and his children, Dave says, “If I can, you can. It simply takes grit.”
Curious about Dave’s work? Check out his website.
Have specific questions? You can reach out and follow Dave on LinkedIn, and Facebook.
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Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, Twitter, Instagram, and LinkedIn. Thanks for listening!
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Stay inspired,
Heneka
