Dave Royce on Pest Control, Private Equity, and Purpose
00:00Ladies and gentlemen, welcome to a special edition of the Money Monday's podcast where we cover three core topics, how to make money, how to invest money, how to give it away to charity.Our guest has built a humongous company in a very unique category that every one of you has dealt with.Things that happen inside of your household or right outside of your household, you might be thinking, what is he talking about?Is it my alarm system? Is it the pest control situation? Is it my roofing, my garage? What is it?We're going to dive right in.What I want you guys to keep in mind, these podcasts are under 40 minutes for your listening pleasurebecause the average workout is 45 minutes.The average commute to work is 45 minutes.
00:44This episode will be between 36 and 40 minutes for you guys.We're going to dive right in.Dave, give us the quick two-minute bio, so we get straight to the money.Yeah, so built four pest control companies and a solar energy company.Four.Yeah, yeah.And part of that strategy was I figured out this thing called an asset deal where I could sell off just the customer base,It's basically the book of business.
01:05I could sell that off, take all that money,and throw it into the next company.And so it was a way to basically get investmentand still being able to have all the controland all the equity of my own.Wow.So I did that for about 20 years, roughly every four years,the first four years I would sell, get money,
01:21rinse and repeat, same thing over and over,and then, yeah, became the third largest residential pest control company.So the United States.So how did it start?Were you working in the space?How did the first one start?Yeah, so I was a starving college student working minimum wage,and I had a friend come to me and he says,
01:37hey, I made $25 grand last summer.I'm selling pest control services door to door.Just knocking on doors.Yeah, and I was like, okay, I don't really even know what that is,but I'm in.Sign me up, yeah.Yeah, so I drove out to Sacramento, California.It started selling, and there was a big problem.
01:52I sucked sales.I went for five days with zeros.Everybody else around me, it's selling one to four per day.And it's a commission-only job,so the only thing I was getting out of it was free cardio.Right.Yeah, so I went to a bookstore that weekend, got like half a dozen sales books,and then I said, I'm going to read 90 minutes every day and just keep learning and trying
02:12to learn how to sell because, you know, this is my best opportunity at this point in my life.By the end of the summer, I was the top rookie in the whole company.I had 20% salespeople.I went on, I went with a different company the next year, became a sales manager.And when I got there, they didn't have any training manuals.And so I actually asked my boss, he said, can I write a training manual for you?And he was super impressed.ultimately he said, I'm going to give you, if you'll keep doing this every year, because we sold
02:35twice as much as his other location.Cool.If you keep coming back, I'll pay you a cut off everybody.And so by the time I graduated college, I was making $225,000 a summer.A summer.Yeah.That's 20 years ago.So it's like almost half a million.
02:48At least.Yeah, for sure.Okay.So we cover these different topics of how to make money, invest money, give it away to charity.On the make money side, you're saying that these 22-year-old, 25-year-old kids can go make $25,000,50 grand plus in one summer. That's right. We have a few that even make a million dollars amillion dollars in one summer. Yes. Oh my god. Just knocking on doors. Yeah, they're freaks of nature.But you know, if you have like say 3,000 salespeople, you start to get these anomalies where some people
03:16are just really amazing. And almost all the sales managers are like a six-figure income for the summertime.But there's a few guys where they'll do it for maybe, maybe they'll expand their summer to maybe five or six months.Sure. And they'll make a million bucks and then they'll, you know, go.surf the rest of the year. Is it summer because of the weather or is it because that's the righttime to do it? It's kind of the right timing. Like that's when pest pressure is the maximum is inthe summertime. And because college students are out in the summer, it's just kind of howthe industry originally started, at least this specific marketing technique started. Is anybody goingout in December in the rain? There's a few. Yeah, but most people, if they do that, they're probably
03:52in California, Texas, Florida, Arizona. Where's not that heavy on the weather side. So it's not quiteas intense, right? Wow. Okay. So how do you get22-year-olds to 25-year-olds to show up and work and stay consistent all summer.Yeah, so we recruit them.I was originally recruited.There were probably only 500 salespeople in total in the entire pest control industry when I got into it.And the idea had been around for about a decade.But what I noticed is that the training just wasn't great.
04:21Like there was still a lot of room for improvement.And because of my really bad experience, I didn't want my friends to go through that.And so we just started developing that.And really, from there, then it became like, okay, well, how can we recruit?So I got really good at recruiting.I had about 100 people coming out to work for me in the summertime.And then from there, when I ultimate, it was my boss that said, why on earth are you going to go do investment banking?Because I was at a finance major or not.
04:47He's like, you really should go do your own pest control company.And I'm like, yeah, sorry, that's, it's embarrassing to say, but it just wasn't impressive to me.I thought, you know, I'm going to be a college suit.I'm going to go to New York, you know, wear a suit, all that kind of thing.Yeah, but he's like, by the way, I'm selling my business for $10 million.And I was like, wait, what?And he's like, yeah, I'm going to sell it the Terminx and I'm going to take some time off.And yeah, I've made, you know, I put a few hundred grand into it.
05:13He was like, you should really go do the same thing.And that's when the light will kind of came on for me.I thought, huh, well, maybe if I went and did this, if I didn't like it, I could go back to NBA school.It would be my experience or whatever.But yeah, I just never stopped.It just kept going and going.It's kind of like each level of business.The first one was really figuring out what is the business,
05:33how does it operate, understand the financials, the metrics.The second business I did, it was, okay, how do you scale?How do you go into different states?Sure.You know, and scale with lots of people.The third one was like, how do you make it a really cool, unique businessand recruit thousands of people with unique talents?And so that's when we got like crazy headquarters and, you know, NCAA basketball
05:53core and golf simulators, ping pong, fosball, all that kind of stuff.We did our toy drive there, like, two years ago, three years ago,we did our toy drive on the basketball court.Yes, you know what I'm talking about.Okay, so let's say 100 sales reps show up, let's call it Salt Lake City.Yeah.10 or 20, them, they suck and they fade away, like they're not cut out for it?Yeah, usually about 25% of the reps go, this is just too hard.
06:19It's, you know, long hours, you know, you're in the sun all day knocking doors,tons of rejection.And then of those 25%, we usually,get about half of them to stay, but they'll transfer into a technician position.Sure.And then the other's just sort of like, you know what, I'm out.Sure.Yeah.
06:34And then the middle.We'll get apartments for them, you know, all across the country.Oh, cool.We knock over 5,000 different cities throughout the country and 34 states.Yeah, we're in 34 different states.There's over 5,000 cities that we actually knock doors.Oh, my gosh.Yeah.
06:48So we get apartments in every single state, set it up for them.And then literally they just can move out, stay in the apartments and, you know, worksix days a week.All right, the middle tier guys, that 25 to 80%, what are they doing?How much are they making?What's the general concept?Yeah, first year rep, maybe it's like 25, 30 grand.A second year rep, someone who's already done it has experience.
07:10They might be around 40, you know, 45.And then a sales manager, if they're recruiting friends, they can make a cut because they're recruiting and training all their friends.And they manage them over the course of the summer.They might be around 100,000, just like for averages.And then your superstars, that top 10 or 20%?happens there.And then those, yeah, some of those guys make up to a million.It might be like if someone's just on their own and they're not managing a company, but
07:34they're going to sell like a thousand plus accounts, they might be at, you know, half a millionor something.But then what the guys will do is they'll, if they have, if they're a sales manager, they'lltry to create other sales managers underneath them.Yeah, to create like a region.And then, you know, they'll try to create a division and then, you know, if they've gotseveral hundred people underneath them, then ultimately will be.So they're almost making their own company under your company.
07:57Yeah, I mean, it's similar how most companies would operate with the Salesforce.But yeah, it's just like they're able to make a little bit.We really stick it to numbers.It's just easier to calculate as opposed to just giving people some sort of a salary or whatever.They're much more incentivized if they can really, it's almost like owning a piece of the company.Sure.In the way or owning a piece of the business.So with a lot of other brands that are out there, other competitors,
08:19first what attracts them to your brand and then what makes them stay when they're probably getting head hunted and recruited by competitors?Yes, our sales training program, by far, is the best.To give you an idea of how good it was,when sales reps would come to work for us,if they'd work somewhere else,and then they came to work for us the next summer,they would sell 70% more than they did at the previous company.Right. And part of that is it's sales training.
08:42Part of it is work ethic when you're surrounded by other people,like on the winning team.Yeah, let's go, let's go.Yeah, they're going to want to work more hours,whereas a lot of the other companies is kind of like,eh, you know, maybe we'll get out there and work,maybe we won't some days.And us, it's like, hey, we've got a solid schedule
08:56for you guys to work, you know, ultimate you can choose whether you're going to work it or not.But when everybody else is doing it, it's a lot easier to do.So I have a fun story.There was a tech company called MoPro many years ago.Yeah.My dear friend, he was like, I want you to come join the advisor board with me on this company.I just raised like $18 million.I said, no.
09:15What do you mean no?We're like dear friends.Like, this is like a brother.Yeah.I was like, no.And he's like, what do you mean?No, I'm like, we don't sell anything yet.You're like an artist that just keeps painting for seven years.
09:25you're doing all these different thingsand you've got all these different divisionslet me build a sales divisionand if I hit a certain number$5 million in revenuethen I get double the equityand I'll give the other half the equity to tradenice. He's like okay
09:39so me and my girlfriendat the time we go to hire40 sales repsliterally just posting on the Facebookthis is a long time agoposting on the Facebookwe're likethat's right and
09:51hundreds show up 40 get pickedand we put them inthe guys in doctor's office and the girls in the nurses outfits and they're your digital doctorand I had to invent door to door like when I say invent I didn't invent the industry I mean like I didn'tknow it I just heard about it for you sure and so on weekends I would get them convention boothsat like the doctor's convention the lawyers convention the restaurant convention and we made likedigital doctors you'd walk by we're like hey can you give us two minutes to give you a checkup on yourwebsite it's fair right yeah that's great they walk by they stop in and it's just like a bunch
10:25like 22 year old to 28 year old same concept and they would just look at the website and I taughtthem like find out if the email address is wrong find out if the date is wrong find out if theaddress is wrong right does the link not work is it not connected to their Facebook like justbasic things to find us sure if you find two or three problems they'll pay us and so and then on theweekdays we'd go door to door and we'd go but again I didn't know the industry or what was legalor not we'd like show up to strip malls and just walk into businesses yeah you know solicitingwe're probably why they created soliciting signs.And so we created 1,100 accounts at $5,000 each.
11:01So I hit my $5.5 million in sales.How long it take you to do?Four months.Not bad.But I had no idea.I had no context of any of this stuff.I just knew people needed websites.Yeah.
11:14And we'd walk in and say for $200 bucks a month, $5,000 over the course of two years,we'll fix your website, we'll make you three videos, blah, blah, blah, blah, blah.Like it's quick, quick spiel, nice and easy.And people just got it.And that company went on to raise $70 million, and then the rest is history.And so I say the story because that door-to-door experience was, like, changed my life.Watching these people go visit 20 to 30 accounts a day, try to get four to eight appointments, close one to four of them.That was my, like, basic math for them.
11:46I said, if you do that, I'm going to pay $200 a commission per, so you can make $200,800 a day.It's good money.Yeah.And I just broke it down that very simply to them so they could get it.And they just, some people faded away and some people crushed it.Sure.There was one kid, Rodrigo.I still talked to today.
12:03Sometimes he would outdo everyone at the same convention.There'd be 15 reps.He'd outdo all their numbers combined in one weekend because he would just.He's the animal.Morning and night when he'd get back to the hotel room, he'd call every business card.Every single one of them.Hey, come back over tomorrow.Could you bring any of your friends or associates over?
12:19So he'd show up in the morning and there's like.a line waiting for this guy anyways that's top performers though like they eatbreathe and sleep sales and the beautiful thing about sales is you'll never gohungry right right like once you go out and sell and master it you realize youknow what at any point in my life I can always come back to this and make moneyand survive it's such a beautiful thing all right the investing side yeah you got a24 year old kid he just made a hundred thousand dollars in one summer how do youprevent him from not just going buying another Tesla to two to Rolexes and
12:51going into the nightclub and buying his girlfriend a purse.Like, how do you prevent the $100 grand to just get lit on fire?You know, part of it, like, for us at the company, we had a much more thrifty mindset.We would actually have people come in and teach them about investing.Like, you know, and we would pitch to them like, hey, like this job, like pay off your schooling, you know, before you graduate.So you don't even have to have school debt.You know, save money for a wedding ring or for a house, you know, don't go blow it all on a car.I'll certainly have people who blow it on a car.
13:20And part of it, they might justify it like, hell, this is part of recruiting.You know, people see the car.You know, they want to know more.But I was super thrifty myself.I think you got to live it, right, in order for people to want to follow it.But I just save, safe, save.Because in my mind, I wanted to graduate debt free.I wanted to go to MBA school.
13:41I got married towards the end of college.Believe it or not, I married my college sweetheart.And, yeah, she was going to go to law school.And so I'm like, I got to save for that.So we put, I saved up about 300 grand before I graduate.Amazing.Yeah.And then when I got pitched this idea of, hey, you should go start your own company.
14:00That's when I was like, okay, I actually have money right now.Yeah, I have it saved.So it's kind of like being prepared for the opportunity to know when to take it.But as far as investing, for me, it took me a while to invest because I was the bank.And all the cash I got, I kept thinking, I'm going to throw it into the next one because I don't want to have to go get investors and lose equity on it.and then I can maintain the control.But yeah, clearly, like, investing into, like,S&P 500 index or into, like, a tax loss harvesting vehicle like that.
14:31It's probably the safest thing you can do.And we've got a lot of guys, too, where, you know,they're all about the magnificent seven or just, you know,AI as that's coming up.Very cool.So you guys have heard me talk about it.I'm going to give you the quick synopsis.It's called 40, 40, 20.
14:46I like to recommend 40% low risk.You're just trying to make between 5 and 9% for the year, like the S&P 500, he just mentioned.Medium risk, I want to make between 10 and 30% for the year.This is real estate, stock market, cash flowing businesses.High risk, there should be about 10% to 20%.This is my shot at glory.If I get this right, I want 7x or 12x or something crazy to happen.And if I get it wrong or just takes a long time,
15:13I hope that the medium risk and the low risk covers the high risk.On the low risk side, the S&P 500, you might think is medium risk.Over the last 93 years has returned 11% on average.Over the last 20 years has only actually had three losing years.Can the S&P 500 go down this month?Of course.Can it go down this year?For sure.
15:33But over the course of time, 93 years or 20 years, it survived depressions,recessions and everything crazy that's gone along, wars, etc.And it has fought through at 11% average.If you take a compound calculator and put an 11% and you throw in $1,000 bucks, $5,000, $2,000, $10,000, whatever, every single year, it will be staggering what happens 20, 30, 40 years from now.Okay.It's like that thing on the golf course, right?Like you start out and you say, hey, you know, why don't we play each hole for a dollar?Right.
16:04You know, and we'll double it each time.We go up and by the end, you're like, uh-oh, 18th hole.So with so many different options now, right?take off the 25-year-old cap now build up all these companies.We've had multiple exits.You could invest in crypto, real estate, stock market, private companies.The SpaceX IPO, private company.There's so many things that could be boring, medium risk and high risk.
16:30How do you decide for yourself with unlimited options what to invest into?Yes, what I learned is it's all about access, getting access to the right things, right?So like SpaceX is about to IPO, right?I have friends who invested in SpaceX, you know,years and years ago, right? Because they had money or they had access through somebody. Right,a fund, you know, and they're going to 40x their money. Like, it's wild. How much they're going tomake. Yeah, 40 times anything is a lot. So I realize, you know, that's really the key. And you have tohave a certain amount of money. Like, for example, this group I use iconic, you have to have
17:04$100 million just to even get them with them. But they have pulled together a bunch of differentpeople. Like Mark Zuckerberg was the original person who worked with these guys. And thenI think Jack Dorsey and Reed Hoffman,but they have a lot of the tech guys there.But basically, they pull their moneyto be able to get access to whatever it is.So, like, I've invested in the last three series of Anthropic,you know, because I had access.
17:26In any other instance, I never would have had access to that.So it's a little rough, right?Because the rich get richer in that sense.You have to have a certain amount of money to do it, right?It's the same amount of legal paperwork for them to do,so they need bigger checks.But, yeah, it'd be interesting to seeif somebody actually put together
17:43there's something clearly like in the puppet markets they have that but if there was aprivate way to do it where people could put in lots and lots of money to fund something andthen you know so everybody could participate in it I wonder if there's a good businessidea there so as someone is sun setting right there towards the end of their door-to-doorcareer now they've got 1.3 million dollars saved up they bought their house they got their twocars and a wife and the picket fence you know like they got everything set up now they'rebombarded by options. What would you say that they can try to learn or figure out for themselves?The way I describe it is to figure out what type of investor are you? Like when I talk about low risk,
18:22did you like that? When I talk about 10 to 30 percent? Yeah. Is that what got you excited? Or you're like,no, no, no, I got to have 8x or 12x. What would you say to someone that's trying to figure outtheir life for the next chapter after they're done? They can't knock on doors anymore. Yep.Maybe they're becoming a manager, et cetera, about how they can find out what they might wantto invest into? Yeah, the question is, how much money do you have and how much do you need on amonthly basis, right? So especially as you get older, you may need more security, so you mighthave more fixed income at that stage than you would have when you were 18 years old. So if you needa certain amount, you have to really think, if the stock market goes down, I need something like,
18:55I need an inverse relationship, maybe between fixed income and S&P 500 index. Whereas for me,it's different. Like, I don't need that much money. So what I do is I put away four years of whatI actually need in case we have another great recession. Great recession. When it crashed,It took three and a half years for the market to come back.And so I've got that cash there, everything else.I'm like, let it ride, baby.All S&P 500 tax, less, harvesting funds or alternatives.Right.
19:21So private equity, direct investments, real estate, you know, private debt, whatever.I'm going to say something to you guys very bluntly.Once you've saved up 12 months in your piggy bank, let's say you have $5,000 a month overhead.Once you've saved up $60,000, the cash above that,You are physically losing money on the value of that cash sitting in your savings account.Now, I'm not saying go invest into SpaceX and buy Bitcoin, et cetera, and take risk with the money.Let's say you've got 200 grand saved up, but you need 5 grand a month.So 60,000 is your core base for 12 months.
19:55The extra 140,000 spends like 128,000 next year.It spends like 114,000 next year.It spends like 102 the next year.Four years from now, it spends like 92,000.It still says 140,000 in your savings account extra, right?It still says it.You still see the number, but it spends like 128, 114, et cetera,because of 9% a year inflation.
20:20That isn't a theory, that isn't political.You try to buy a Ford truck that was 50,000,and now it's 54,000, and then it's 58,000,and then it's 63,000, and it's 67,000.Go try to buy muffins right now.Muffins are $6.50.Five years ago, there were four bucks.Yeah. $4.40. 440 becomes $4.40 becomes $5.50. Do you think they're going to go decrease the price of muffins?
20:45Never.They don't. Go to your local hotel and pay for parking right now. It's probably $35. Remember when it was $30. It was $25. It was $20. It was $15.So I say this because the extra $140,000, I'm not saying you have to go buy a bunch of crazy things, invest in a bunch of crazy things, but at least fighting with inflation.CDs at your bank that'll pay you 4%, 5% for the year, that 140,000, making 5%, that's a lot of money.$7,000 a year that now have some fight in you because you're 140, now this is 147, 155, 162.This is very important.A lot of times we have this goal, like, I'm going to save up all this money and I'm going to put it away into my savings account.Please, you're already ahead of most of society.
21:30I want you to do that, except at least have it doing something.Low risk or no risk, so you're fighting with inflation.Definitely.All right.On the charity side of things, you made money door to door, you sold your company, or let'ssay someone becomes a manager and they start to become an executive for your company.They got some stock in the business.Now they've got a liquidity event, one of your exits, for example.
21:55Now they're thinking about philanthropy.And along the way, they could have done it as well, right?I want to keep in mind, we're inside of Hubble Studio now, where we created the Trinus Kids Foundation12 years ago, our first events were eight volunteers. There wasn't a bunch of money involved.You can do charity with your cell phone, your social media power, rolling your sleeves up and showing up,or your time and energy. You going to a children's hospital, you going to a senior citizen's home,you going to a homeless shelter, is just as good as him and I putting in 10 grand to that charity.You spending eight hours there is the same concept of doing values. Don't feel like you have to donate money
22:33to do charity. There's plenty you can do without charity. You're just a lot of money.cash. So someone's making money within your company. They've had a liquidity event. They've gotover a million bucks saved up and they want to donate 25 grand this year, split up amongst differentcharities. How do you feel someone to decide if they're going to have a charity component to theirlife, what matters to them? You know, I once heard somebody say that it doesn't matter what charityyou're after. It all goes in the same bucket, that concept. And really what that means to me iseverybody's different in terms of where their passions are and where they want to help.For me, education's really my thing.
23:11In fact, when I die, the majority of my money right now is actually going to the United NegroCollege Fund.I just never liked the idea that, you know, so much of your success depends on where you'reborn.Sure.You know, the zip code that you're born in.And so wanting to give people a chance who, you know, maybe they didn't have the samementors, you know, or the same access or the same financial means.
23:32but if they've worked their tail off in school,I want them to be able to...I love that.To me, that's like evolution.Like people...We want the smartest people rising to the top.Other things, too, just...I do the same thing at my kids' school,
23:47at a private school.There's certain people where they need access.They're very bright kids,but maybe they don't come from the same financial background.I lived in Pacific Palisades, so now...Fires?Yeah, so now it's like a reindexecis.investing in the community.
24:03You know, how are we gonna fix this and rebuild itand build it back even better, you know, than it was before?So, I mean, those are things that are very personal to me,you know, for some people.Another thing too, this is probably a random one,is the most dangerous animal in the world,believe it or not, is the mosquito.Because it passes malaria to people.
24:23And so almost a million people a yearmight die from malaria.You know, it's not like a lion or a shark.There might be a few hundred deaths from that.So just a quick...Yeah, so we, at my company at Aptive, we would donate a certain, in fact, at all the different companies we've had, we would donate money.And we had days where we would, with the sales guys, where we'd get them excited about going out and getting people to donate.We eventually got to a point where on the app, you know, when people were checking each customer out and signing them up,
24:52there was literally a place for them to say, yeah, I'd like to donate X amount to this charity.And we raised millions of dollars.Amazing.It was the United Nations, nothing but Nets group.Yeah, they donate bed nuts to people because most people, like for example, Africa or, you know, South America, they get bit while they're sleeping.Right.Yeah.So to find out what charity you're going to be passionate about, it's typically going to be something that either impacted you or someone you're close with.
25:20What will happen is if you are passionate about it, you are going to put in more energy like we talked about for social media, rolling your sleeves up, putting in time and energy into it because it impacted you or someone around you.If someone in your family went through breast cancer or someone was homeless or someone had leukemia or Alzheimer's, etc.,you're going to be much more passionate about that topic.So think for yourself, it doesn't have to be overnight, what's something that might have been impactful in your lifeor could be a family member or friend and you know that it hurt them or it's impacted their lives?You might dive right into that subject and then you're going to be more passionate when you're talking about itwhen you put the effort because charity's not overnight.When you find the right charity that you're passionate about, you're typically going to be involved for the rest of your life.
26:03Okay.Do you think it's important for companies to have a charity component for their employees, customers, vendors, etc., to see them active in charity?Yeah, I think it's a good thing to do culturally.I think trying to find something, too, that resonates with, you know, for the majority of those people who are there is great.I've just seen so much camaraderie be built.around it. Is it, you know, every company's job to, you know, take care of everybody else?You know, like some people have, you know, differing opinions on this where it's like, hey,there at some point maybe it's too much, it's too intense. But yeah, like we loved it. Like,
26:41we had a lot of fun with it. We got involved too with human trafficking, which is a very difficultsubject. Yes. But I don't know, I guess the idea of exterminating pests. We like that idea.I felt like that fell in with our culture. But ironic, it was ironic, becauseYou know, we've been doing the Nothing But Nets group forever.And when we added this other component, that raised more money than I'd ever seen before.They were like triple, quadrupled, what we would normally get.And people were very passionate.So I think it's important to listen to your employees.
27:13Like, what are they passionate about?Because that's how you're going to have the most success.Last night, I went to a charity for sex trafficking.Actually, on the front seat of my car right now is the big folder from last night's dinner.It's a group called Child Alive.and it was intense.It's so intense.The numbers were staggering.
27:31Like I couldn't, like I thought about it all night.Gut-wrenching too.It's mind-boggling what is happening, especially overseas.And also here in America.But, yeah, it's when you find something like that,and I could hear the voices of the people speaking.And they had the girls from UCLAthat went through the huge Olympics trial thing,
27:52like the gymnast.Yeah.Not teacher, but the gymnast.physician, right, had the largest case of all time. And then the attorney, John Manley, was there,who's the number one sexual trafficking, sexual assault attorney in history. And so the threethem were speaking, like, it's burning my brain. It literally was last night. And watching themspeak and then watching the people that create the charity tear up on a charity they've been involvedin for 10, 15, 20 years and still get emotional on a random Thursday night. Like, it makes you want
28:22to support them because you know they care. Right. So when you guys are thinking about charity,Find people that care.It will change the way you look at charity.It will change the way you act.It will change the way you post about it on Facebook and Instagram.It will change the way you want to show up on a Saturday morning to that place where people care.If they care about homelessness or they care about child trafficking, or they care about Alzheimer's leukemia,I promise you, once you find that thing, it adds purpose into our lives.
28:49And sometimes we go through the hardest times in your life.And you might be down down and your luck financially.actually, finding something that you can put some passion and time into will literally changethe outcome of your life.When you find something that you can put your passion energy to, it literally changed yourmindset, your actions, your entire day life because you found a purpose.If you want to be happy, serve others, right?It's one of the key components for me.
29:12I found it's growth and serving others.So there's only one question that I ask on every single episode, and I've never gottenthe same answer ever in history of, I don't know, three, 400 episodes now.many many many years from nowwhen it's finally time that Dave passes awaybut you've built four pest control companiesnow you've built 40zillions of dollars
29:35what percentage of your net worth do you leave to your childrenmine is going to be pretty much zeroyeah I'm very committed to giving it all awaypart of the has a deal with again it probably goes backto like I want there to be this great equalizerI wish education was that great equalizer for everybody.And I've also seen it be crippling to a lot of peoplewhere the kids get the money and they go,
30:00well, it doesn't matter what I do in this life,I will never make this much.And I see people get, you know, fall into addiction,you know, depression, all kinds of different things.I want my kids to look for a sense of purpose.I want them to find that passion, that thing that really drives them,whether it's in charity, whether it's in something, you know,the private sector, public sector, whatever it might be.
30:26I just think it's a better way to live.Nobody gave me, you know,sure, money.So why should I give them any money?I don't think most people think it's fair either.I think a lot of people, I remember when I was in college,it might see somebody and they roll up in this super nice car.And I'm like, I'm not sure that the parents, it's like,
30:44I'm not sure it's the right thing for the child.Yeah, it's like, let them go out and earn that.Yes.You know, don't take away that joy from them about going outand working and yeah the concept of trust fund babies and trust fund kids like it's very real yeahyou know I throw 200 events a year sorry I travel 200 days a year and I throw 42 events a yearand so I'm seeing people in every city and state and all different tiers and price points ofevents and so I see a lot of the trust fund kids and what happens with drugs and traveling and
31:14the purpose part that we talked about earlier is really important there's a famous theory aboutlike in the backyard, if a dog doesn't have purpose, what does it do? It digs holes.Right? It digs holes in the backyard.Runs around like a crazy person. Yeah. It has no purpose. And so when it has a purpose,a dog can be an amazing creature. A dog can be one of the most amazing things in our lives.Yeah. When it has no purpose, it digs holes. Humans do the same thing. That could be addiction,that could be gambling, that could be porn, that could be depression, things that they're just digging,digging, digging because they're no purpose.
31:50They're trying to find something under the ground.And I say that because oftentimes we go downthose same things as peoplewhere charity could be that thing that solves that.Just by dedicating yourself to going and helpingsenior citizens, children, homelessness, etc.Okay, last question.What's the next chapter for you?
32:11You've had these multiple companies,you've built these thousands and thousands of employeesworking with you.What's the next chapter for Dave?Yeah, so the last company I did, I'm 100% out.And I'm done.I just said, you know what, it's been 20 years.I think I've learned everything I'm going to learn from this industry.
32:27I'm good.And so for me, I've taken a year off to really think about why I did what I did.What do I want to do next?And I think the next phase is something more creative or more philanthropic.It doesn't have to be just about money, if it can be.That's great, too.But I think it's going to be more passion-oriented at this point.Where can people find you on social?
32:49Are you active on social?I'm kind of private, but I'm on LinkedIn.All my professional stuff's on there.Very cool.I'm kind of the odd duck where I,my Instagram's like for me, my family,and my very close personal friends.All right, guys, these podcasts,
33:05usually I say this at the very beginning,are not just for you.It might be for some of your friends,family, and followers.It might be for someone from your past,present, or future.They might say somethingthat you would,
33:17heard here and they're like, oh, I want to get into solar or pest control or door to door,they're like, oh, wait, you should listen to this episode. They might say, oh, I'm reallythinking about charity stuff. I don't know what to do. How do I figure out what I want?You might be like, oh, listen to this clip. There's four minutes where they talked about X, Y,and Z about charity and finding your purpose. These podcasts are not just for you. The reasonthat we have such a large listen through rate is people find topics that they care about,and they listen all the way through. And some people go back and listen multiple times,because there might be something Dave said
33:47that you might want to showto your husband, your girlfriend, your dad, your kids, etc.,those moments are important.We have to have discussion about money.We all grew up thinking it's rude to talk about money.I think that's ridiculous.Money is not the root of all evil.Is there small percentages that do evil things with money?
34:04Of course.There's small percentage of do bad thingsin every category, in every industry.Medical, music, television, everyone has that small percentage.But the other 99.9% of moneyis for your bills,for your food, for your travel, for your parents when they got to go to the hospital,when they want to just pay for normal things. Like, it's part of your, it's a tool,
34:23it's a utility. We have to be able to have these discussions about salary, credit, finance,should I lease, should I rent, should I buy? We've got to be able to talk about it without feelinglike it's rude to talk about it. So I appreciate you guys. As you guys know,we are sponsored by fanbasis.com. I'm not going to read some long affiliate code of that.Fanbasis.com is a company I actually use from my entire backend and go high level.multi-billion-dollar company, Go-high-Level has powered all the things you see with theMonday Mondays. They are the back-end system that powers all of that. So check out Fanbase's,check out Go-High Level, check out Dave across LinkedIn. And if you're thinking about,
34:59maybe you want to work in the door-to-door space, or maybe it might be your son or daughter thatmight be getting to that 18, 19, 20-year-old. Maybe they should research it because you've heardsomething could crush it, making $25,000, $50,000 in just one summer.That's right, activerecruiting.com.Active recruiting.com.APT-I-V-E Recruiting.I love that.That is a powerful company.
35:18Obviously, you've heard.They're in tons of cities all over the country.Appreciate you guys.We'll see you guys next Monday here at the Money Mondays.com.
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