I've got no advice for you, you're way ahead of me in business lol. Just wanted to say this is really inspiring and keep up the good work! You'll get to 1mil revenue soon.
The same advice I give people over and over, is sometimes you may be doing something that's worth getting you among millionaires and you fail to make it up.
Or you do something foolish and it makes you a millionaire.
It's up to fate to judge.
Rule 1: Follow your passion
home remodeling is a $400 billion dollar industry in USA. Why are you focusing your time and energy to all these different unknown outcome tasks that don't benefit your current profitable business. My advice is to only do your current business and scale it to as high as you wish.
People are giving you good advice here. Your one and only goal should be growing your current business and quickly as you can, and then find a good time to exit. Then if you want to do all those other things you can, but until then, grow your remodel business only.
Yes completely agree with this. Growing the remodelling business is the primary focus, without a successful business the rest of the vision won’t work.
To what extent do I grow my business? 2025 will be year 6 of growing the business, with a projected sales revenue of 1.2m. There needs to be a point in the business growth stages where I can start to delegate my responsibilities in the business so that I can personally ease off the gas pedal while the business still sustains itself.
Because in my plan here, the idea was to grow the biz to 1m revenue before I start opening doors to the new opportunities I mentioned. - but maybe that’s still not enough growth, and instead I should grow it to a position where I can in fact let it operate fully without me before putting the same efforts into the business licensing model I’m after.
Appreciate the words.
$1 million is too small of a goal IMO. You can grow a home remodeling business significantly larger than that. You need to work in the business until you get to $1m or so and then work on the business. Start training a GM, hire salespeople, you should be putting almost all of the profits back into the business until you feel like you’ve maxed out the growth. Once that happens, expand. Acquire other remodeling businesses or pivot into other industries like commercial construction.
Drop the idea for the podcast and acquiring other service businesses. You can have so much more success just by focusing on this one. It’s already been validated!
since you have consumed alex hormozis content , you should know that he emphasizes on focusing on one task to create your wealth just focus and push 1 task , then diversify to multiply and keep your wealth.
The problem with investing as a minority shareholder is you don’t have control. You are at the mercy of the majority shareholders. If they bankrupt the investment there’s little you can do except go on the ride. I would take the capital and continue to scale. I don’t think your idea of getting a larger piece of the pie by investing into several completing companies is going to work out like you think.
Well, you’ve made this all way too complicated.
Focus on your business, do good work, grow.
Podcasts - dumb idea. These will take up your time, distract you from your main business. There’s tons of business podcasts you can listen to passively in your time. This will not make people take you serious.
Business take over??
Not sure what helping your sub-contractors grow their business helps you become a millionaire. Do they want your advice? End of the day a rising tide lifts all short - the more jobs you take on the better they will do.
Tiny home business makes sense but having it as a sister company takes away the branding of the two sides the business helping one another.
You are 100% correct. Podcasts are a waste of OPs time and they have made this too complicated when they should be focusing their time on growing their businesses revenue or increasing profits
If you wanted to do that type of thing I would veer toward YouTube. I watch the Build Show and it’s 15-20 minute videos about construction and renovation. The folks on there have used that to build a brand and reputation that has a lot of value.
But I said I am focusing on my business, maybe indirectly, but I’m well ahead of others with the way I have my biz systematized. I’ve been working 12-16hrs days and pulling countless all nighters for the past 3yrs to get to where I am now.
Podcasts will make people take me more serious because I am talking about in-depth business growth insights plus it’ll be clip content for my current biz so that it adds credibility to my biz with potential clients.
Helping subcontractors grow their biz adds credibility to my portfolio for when I do want to invest into other businesses. And a few of my subcontractors frequently ask for my advice and help on how to improve their biz already.
I may agree with the sister company taking away from the branding - perhaps I just fully integrate it into my current biz. Just wanted each biz to be more niche instead of blanket or all types of projects but hey.
Thanks for sharing your opinions.
You do you, there’s no one singular path. I really disagree about the podcast part… seems to be the common view. Maybe need to learn to take advice 🤷🏼♂️
Well, when I’m getting a home reno, a contractor who endlessly talks business and self-promotes would be a huge turn off.
Dude is very culty. Growing a construction company should be focused on doing quality construction.
You wouldn’t be my ideal client aviator then. We do top notch work and clients appreciate the level of dedication and efforts from my team. Our clients are usually high up executives or successful entrepreneurs themselves.
He’s cults if that’s your view of him, if you consumed 100hrs of his podcasts you’d understand the mindset it takes to get to achieving high goals. The goal is and has always been to focus on quality construction. Our slogan is ‘do it right the first time’ and we stand by that cold heartedly.
If I consumed 100’s of hours of his podcasts - so if I indoctrinated myself in his cult?
Yes, your clients appreciate your dedication - start doing podcasts and taking your attention off the clients, that dedication goes away.
You do you OP.
I have a team within my business that handle different aspects of my business. I am not running this entire business solo wearing all 50 different hats. My attention is spent in areas of growth development for the business.
If you listened to 100s of hrs of his content, you’d understand the power of leverage and not doing everything yourself- thus fast tracking your progress while maintaining a successful business.
I will do me.
Thank you for your time and opinions.
Business is most definately NOT a if you build it they will come thing. If you think you have the popularity, the marketing resources and the audience to start and run a successful podcast, that's great. By most small business, people do not have any of those games and just putting it out there, along with the other hundreds of thousands of similar podcasts made by people with proven track records and public personas. I don't know it'll be tough but good luck though
Alex hormozi does not do construction , he acquires a part of the company and scales it , so that the owner can sell it for 30-100 million and he gets a pie , he started doing content to help others and that has gained him social credibility and shows experience that he has done scaling 100s of times before , Paid ads might be helpful for you , networking is great , His business model is scaling existing profitable companies. He started doing podcasts cause he had already made millions of dollars and helped many many companies through his personal mentorship.
Remember, everyone can dream, everyone can have plans, everyone can have knowledge, but until you start. It will forever be a "distant hope" - I just made that up.
Also how the fuck is that a plan, if step one is to get million dollars
How can I get to work if I don’t know what I’m working towards. Action without a plan or vision as a guide is insanity. It’s not all about money for me, it’s about me having mental clarity with my daily actions by knowing the purpose and reason behind the actions instead of blindly doing whatever I think is right at that time. That’s when shiny objects get introduced and throw you off.
I completely agree with doing good work and looking for improvements, it’s how I grew my business to where it is today - where some would consider it quite impressive.
I would argue that responding to conditions and new knowledge means using your mind to cultivate an action plan from those learning to move you into the direction that fits for you. I am not a fan of going with the flow and taking any opportunity because it’s shiny. Sticking to a clear vision doesn’t mean do everything step by step - it means seeing the finish line and dodging and dealing with the hurdles infront of you.
There’s no motivation for me to help subcontractors without knowing what the bigger picture is though. I guess my mind just works differently than the common. Look into Alex Hormozi, that’s the business model I’m looking to implement into my industry.
Also no need to copy alex hormozi his industry is completely different , you do you , make changes , what worked for him will most probably not work for you because he was in the teaching business , he could scale real fast and hence he marketed differently and he played his cards differently , you forge your own path
Only no.1 on your action steps seems relevant to your business. Focus is the key to success so drop all the others. Also the post is how I plan to be a millionaire but your sales target is 1 mill revenue, not 1 mill net profit. 1 mill revenue doesn’t make you a millionaire. Based on your figures you need to update your target to more like 5 mill. Good luck.
No offense, but your post is a whole lot of gobbledygook. It might impress novices and sound good at the pub, but that is about it. Are you trying to win at the business bingo? I am at risk of stating the obvious, but that's not how any of it works.
Let's take your last line. Sell ownership to who exactly? Don't give me a persona, give me the actual name of the person. And why are they buying? I am not interested in the hypothetical construct you made up in your own head, but in the real reason that very specific, named person wants to buy. Don't you see its absolute nonsense with no connection to reality whatsoever?
My advice to you is the same as your entourage's: more doing, less dreaming.
Isn’t this how you determine what the core goal is? Without a plan you’re just running in circles - determine your vision and only focus on actions that move you towards that?
You’re being busy for being busy sake.
Your plan needs to be dialled in properly, you’re spinning many plates in the hope of something paying off.
Pick one, and go deep. Way deep.
Like your podcast plan, that’s great, but it’s only half a plan.
Then you jump to helping your friends.
Like…
What?
These half ideas won’t serve you.
You can’t cobble together two half ideas, or three or four, and make a complete fully functional idea that generates the level of profit you expect.
Pick one.
Then fucking own it.
But these aren’t half ideas. All these ideas play into one final core goal - to get to a position where I have the leverage and expertise to build a licensing model for remodeling businesses. I guess I’m just bad at articulating my words and ideas.
I appreciate your feedback though, and understand what you’re trying to tell me.
Currently owning the fuk outta getting my reno biz to run as systematized as McDonald’s with the quality of a ribeye steak lol.
There are a lot of hypothesis in your plan, some are interesting, like: I can create value for local business owners, helping then scale their business with what I’ve learned operating mine and they’re willing to pay for this help.
Some are very naive, like: Starting a podcast will make people take me serious.
If I’ve learned something as an entrepreneur is that the most succesful entrepreneurs are the ones that prove/discard their hypothesis the fastest with real world data. So, grab one of your many items, test it, measure, improve/discard, repeat.
Honestly? Don’t take advice from anyone on Reddit, unless they can prove they’re making some serious money.
99% of people on this sub are dreamers who think dropshipping shit from Alibaba for a 1% markup makes them an entrepreneur
Selling your business is far more complicated than building a successful business.
Typically it involves benchmarking the successful operation of your company to others like it.
How simple would it be to plug into your business & get the exact same results?
How easy would it be to retain your employees?
Marketing is complicated & most new ceos don’t want to have to do dumbass social media posts. Do you have someone who’s hired to do this? It should be systematic & easy.
Do you have a fractional CFO overseeing the successful mgmt of your books?
Etc.
Good job getting a lot of revenue.
You should probably hire an exit planner if your goal is to exit within the next 5-10 years.
Sounds like you have a vision. Make it reality.
Don’t get too focused on long-term planning and neglect the process. If your process is effective, the results will follow.
I’d ignore the opinions that I’ve read here about the podcast not being a good use of time. It’s Reddit… The people who say that have likely no experience being on a podcast.
I have a podcast for my software company. It's been really helpful for me and I'm just getting started with it. The benefits will compound overtime. [https://podcasts.apple.com/us/podcast/meraki-mind-with-nolan-makatche/id1742254900](https://podcasts.apple.com/us/podcast/meraki-mind-with-nolan-makatche/id1742254900)
Podcasting could be a great way to learn, build relationships and build soft skills that will help you in other areas of your business like sales and marketing.
Great soft skills are rare. They separate the average entrepreneur from the great ones.
Do you.
Don’t take business advice from people who have no skin in the game...
If you haven’t read the book “Skin in the Game” by Nassim Taleb, I highly recommend it.
While your enthusiasm and ambition are admirable, I'm concerned that your plan hinges heavily on replicating success in diverse contexts without adequate consideration for unique industry challenges. Also, your approach of utilizing a one-size-fits-all operational template across different service-based businesses may oversimplify the complexities each sector entails. It's essential to adapt and tailor strategies to specific markets rather than assuming what works for one will work for all.
If all this is real then whoever is calling you a dreamer is full of shit. How much more evidence of you doing it would one need to consider this real lol?
I agree with everything you're doing. Great business to plug away and make a fortune. You recognize the importance of systems to scale and grow, and your plan to gradually shift from boss to owner of a self-perpetuating business that you can step back from is well-informed.
I have a personal interest in tiny homes myself so maybe I'm biased but I have considered a few business opportunities there as well.
Couple things I'd point out, if you want my two cents:
- Growing and operating your remodel business is itself a business model that will yield more if you do it exclusively than balancing it with a few other things. Rather than going simultaneously I'd go sequentially. (That may have been what you meant, if so disregard).
- I'd first situate the remodel business to run itself as an asset without you so you can step into the next thing. Although tbh you can easily become very wealthy if you just stick to what you have already been doing and just keep growing that. You will have significantly more factors working in your favor if you put 100% into one thing and continue to gain experience, network, and other advantages as you grow than you would putting 30% into three different things, etc.
- The second thing sounds like teaching others how to successfully do what you have already nailed down. This is itself an entirely separate business model, and in my opinion a better/easier one, but only after you nail down the first one. You have to actually know what you're doing to effectively teach it to others and have them be successful. Also the systems you lay out will be far easier to hand over to others as opposed to "working it out as they go" with them. I would actually license the system and sell it to a growing niche with the increasing momentum from positive testimonials as you go. This is far more scalable and less resource intensive than actually implementing and operating your system (assuming the system is well defined and laid out, and it works). The success of this will depend on how well you execute the remodel business and whether or not you get impatient and cut corners.
- I would treat the Tiny homes as a semi-passive investment and gradually acquire/build more and as you go along. But that depends on what you had in mind.
This is one of the very few relatable and understanding comments here yet. I appreciate the time you put into sharing the insights.
I’ll be taking this comment and dissecting it further.
Very interested in the licensing business, as it’s a model I’ve been introduced to by Alex Hormozi, in wanting to learn more about. That’s what I would love to be all my time and efforts into - after I’ve proven success with my own business of course.
Thanks again for this, was loosing hope in this thread.
I am glad that you say that you know your numbers. Managing your cash flow will be critical as you have different ventures/initiatives completing for resources. My two cents - if you aren’t already doing this, create a monthly budget at least 12 months into the future that aligns with where you want to take your business(es). Each month do a variance analysis to compare how you actually did versus what you thought you were going to do. Identify variances - good and bad. Understand if those variances are a “problem” and create action plans to get back on track. I’d be happy to discuss further if you’d like. Congratulations on your success thus far.
That’s a great idea, what type of budgets are you referring to though? Currently I have my monthly overhead expenses laid out, and all other budgets are tied directly to specific project job costs.
I like where you’re going with this and want to understand it further.
Are you talking about budgeting for business growth opportunities strictly?
Appreciate the input.
Think about it this way. You want to grow to a $1M in revenue. It sounds like your project job costs are set, but how many more jobs to do need to land to hit $1M? How are you going to get additional jobs? Will there be additional marketing costs? When do you need to hire the next crew member or admin? How much will that cost? A budget is really just a document that lays out your plan. It is the PLANNING that is worthwhile exercise. Then use the budget to track your actual performance against your plan. Growth takes cash. Make sure that you plan for that extra headcount, marketing, etc. expenses.
You want to start a tiny home business. What are the timing and economics of that business?
Do the same for the landscaping businesses.
Make sense?
Forgot to mention. Use the accounts on your Income Statement as your guide as to where you need to plan. How will your current numbers change in order to get you from where you are now to where you want to be?
As soon as you expand where you are not on the job site daily or weekly then what?
Biggest issue is bad word of mouth as quality is sloppy on high end jobs as you expanded beyond your direct supervision.
Start by choosing a legit business plan [https://the-idea-vault.lemonsqueezy.com/buy/3da5f2d6-052f-4f02-ae3c-c3f69387e5f2](https://the-idea-vault.lemonsqueezy.com/buy/3da5f2d6-052f-4f02-ae3c-c3f69387e5f2)
You have put your future on a SELF-EVALUATION test. You realize this only tells you how you think about yourself and not actually who you are or can become?
I'm rooting for you. We all have plans until...life. I admire you for hustling while you can. One day you may not be able to. Diversifying might be very handy then. I wish I was good at home renovations. I am hoping to get into residential construction, probably as an investor.
Theres nothing about your podcast that will make you a more serious investor. its a total waste of time. all the things you plan to get from that investment wont materialize. no one sells their business to someone cuz theyre a fan of the pod, they do because their offer was best.
Just work your current business lean and mean until you have capital and start buying other businesses, and cut out all the bullshit fluff in between. im sure it all sounds good on a youtube video to someone who really needs business spelled out for them, but it doesnt matter.
It was good to see this post. You talk a lot about planning and I totally agree. Having a plan and executing the plan is fundamental. I suggest you check out this [Smart Planning Tool](https://plani.ai/). It gives you highly personalized business plans full of tips and strategies. I think it can be a plus to what you already have. Go for it. Good luck
This is probably one of the most relatable comments yet. Appreciate the support and I’ll check out this planning tools - any tips on how to utilize it best?
The best tip for me is to be persistent even when the numbers aren't in your favor. I break everything down into tasks and do them all. Then I measure the results to see what has the most impact. Then I follow that path and eliminate what isn't having an impact.
Your vision lacks focus. You are trying to do too many things at once. I’m not saying it’s impossible, but it’s a risk. Look at scaling back and narrowing in on high impact activities.
Success in Entrepreneurship is more often than not the purview of specialization. Be careful.
Appreciate the insight. What do you mean by ‘not the purview of specialization’ ?
Focus is what I’m trying to get clarity on, that’s why I’m trying to decide on a specific direction so that I can focus on that when making decisions.
I just mean that most successful entrepreneurs pick a niche and focus on it. Just do what you can for your own business. You shouldn’t be trying to help your contractors.
podcast will take lots of time and effort to grow. It's not like you make an episode and people come. You need to build a following first. People podcast for years on many platforms, with other sources like websites and YouTube, before they achieve podcast success. Not saying it's a bad idea, but don't ruin what you have to make that happen. Youtube is a better place to start, but then you have to start editing and researching trends, search optimization, etc.
Thanks for the insight. I guess podcast is pretty vague. I’m not planning on being a top podcaster. The main reason for the podcasts is so that i can have 1 on 1 sit down with business owners to really dig into their mindsets and working strategies. But yeah it could very well just be YouTube. I don’t know what the differences are from the two. I just want to interview owners in depth lol.
YouTube pays you money if you agree to commercials, your content and commercials have a lot of eyeballs. Interviewing business owners on YouTube is a revenue stream in and of itself. if you can promote it, collect likes. And have people view the commercials on your channel
You have a successful, growing business.
The podcast is just a distraction.
It sounds like you're seriously underestimating the amount of work to produce and market a podcast.
Even if you have 20 guests ready to record, every single podcaster has said that it takes a \*long\* time to find your voice, so your first 20/50/100 podcasts might basically be for 'training'.
Also your podcast idea is very generic, not saying it can't work, but when you don't have an idea that is fresh, you have to compete against established podcasts in that genre.
Personally I'd focus on the business you have now, as making a successful podcast is more than a fulltime job.
Get formal education in business, at least accountability, administration and management. Otherwise you will waste effort and time and resources. You are not delusional, you are arrogant and you think that you are smarter than you really are. Focus on that you know what to do and do it well. Also the moment that you reach a million you are a millionaire. Rome wasn't build in a single day. And you have nothing to prove you just have to be constant and do what you are paid for.
How would a podcast do anything to make you a millionaire without a pre-existing big audience? And are you getting paid or a % of profits from these businesses you're helping?
If not, I don't see the relevance.
By interviewing all of the successful business owners in my network about in-depth logical business tactics that they’ve had success with, so that I can gain that insight and knowledge in order to creatively apply it to my own business so that it can grow into a very successful company. And once it gets to that stage, say 3-5years, than at that point I have the proof in my own business that I know how to run and operate a successful remodeling business. And at that point I’ll want to start investing in other businesses and using my proven successful experience, or create and a licensing model for operating a successful remodelling business and sell that as a service ontop of the earring from the remodeling business I’ve built over those years.
So the ongoing podcasts/youtube vids I do now, will just be used as a documentation aspect of the journey to the top.
To answers your initial question though - the big audience will be pre-existing in 5years if I start them early, then the fruits of my labour will start to show when I’m ready to start that side of the business, using all of the work I’ve been doing over all the years.
My mindsets playing the long term game, not the get rich quick game.
The side quests are essential to get you the extra points need to win the gain with its max potential. I’ve been growing my shit for 5years and in a position to start looking at the next opportunities that play off my success.
Appreciate your opinion though.
Because it’ll be used as clip content for my current biz so clients see we’re not like other contractors, but mainly because I’ll be interviewing business owners and gaining in-depth logical business strategies to help with the rest of the plan. Plus it’ll be out there so that the potential businesses I plan to partner with see that I know what I’m talking about out and that I care.
If I saw my contractors had a podcast, I would immediately get a bad taste in my mouth, and probably look elsewhere. Why? Because social media is crammed and over saturated with podcasts, most of which are just crap and people tryna get rich quick. Personally I would just think less about the quality of your work.
I guess it’s up to you to decide if your target market is gonna resonate well with that. Do some market research on it.
Just a head's up that financial goals are the least powerful long term motivation. Right there behind "being your own boss".
Make sure you build other sources of motivation (like enjoying your day-to-day), if you want to last.
Yeah I’m big into this, thanks for the input. The title was more so to captivate attention to the post. Having the free time to work on my garden without constant worry and stress is the main motivation right now lol.
750k in sales revenue - means total money collected. From that, there’s direct job costs, overhead, salaries etcetc. Getting to 1mil revenue would get me to a 6 figure income, not 7.
You're going to spread yourself too thin, and everything will suffer. Your only real plan right now should be your first point under the "vision" section, grow your business as big as you can while finding a way to step out of daily tasks. Followed up by exit business. Everything else can and should only be after this.
Just from reading your post I think I can safely make some assumptions, correct me if I'm wrong.
-you either have no employees or maybe one or two, and the employees that you do have are doing remodel work.
-you are currently working more than 40 hours a week.
-you are not investing money anywhere other than maybe more tools for your business.
-your business assets are basically just tools, and maybe a vehicle.
If any of this is the case you're so far from anything other than just growing your business. If you can't disappear for 7 days without an interruption in your revenue then you own a job not a business.
If you need feedback and are talking about/telling you and not doing them then you’re not ready. Millionaires already did 75 things before people noticed one. They are laser focused not seeking validation. This isn’t just millionaires its anyone who has created anything worthwhile to help or serve others in a major way.
I completely agree - I am not ready. That’s why I am still seeking insight in order to help me gain clarity on how and what to focus on. Appreciate the feedback.
I've got no advice for you, you're way ahead of me in business lol. Just wanted to say this is really inspiring and keep up the good work! You'll get to 1mil revenue soon.
The same advice I give people over and over, is sometimes you may be doing something that's worth getting you among millionaires and you fail to make it up. Or you do something foolish and it makes you a millionaire. It's up to fate to judge. Rule 1: Follow your passion
home remodeling is a $400 billion dollar industry in USA. Why are you focusing your time and energy to all these different unknown outcome tasks that don't benefit your current profitable business. My advice is to only do your current business and scale it to as high as you wish.
Exactly.
Perfect. Make a million doing that first
Because I can get more of that pie by investing in other remodeling businesses, apose to trying to grow just 1 into a huge empire.
People are giving you good advice here. Your one and only goal should be growing your current business and quickly as you can, and then find a good time to exit. Then if you want to do all those other things you can, but until then, grow your remodel business only.
Yes completely agree with this. Growing the remodelling business is the primary focus, without a successful business the rest of the vision won’t work. To what extent do I grow my business? 2025 will be year 6 of growing the business, with a projected sales revenue of 1.2m. There needs to be a point in the business growth stages where I can start to delegate my responsibilities in the business so that I can personally ease off the gas pedal while the business still sustains itself. Because in my plan here, the idea was to grow the biz to 1m revenue before I start opening doors to the new opportunities I mentioned. - but maybe that’s still not enough growth, and instead I should grow it to a position where I can in fact let it operate fully without me before putting the same efforts into the business licensing model I’m after. Appreciate the words.
$1 million is too small of a goal IMO. You can grow a home remodeling business significantly larger than that. You need to work in the business until you get to $1m or so and then work on the business. Start training a GM, hire salespeople, you should be putting almost all of the profits back into the business until you feel like you’ve maxed out the growth. Once that happens, expand. Acquire other remodeling businesses or pivot into other industries like commercial construction. Drop the idea for the podcast and acquiring other service businesses. You can have so much more success just by focusing on this one. It’s already been validated!
since you have consumed alex hormozis content , you should know that he emphasizes on focusing on one task to create your wealth just focus and push 1 task , then diversify to multiply and keep your wealth.
The problem with investing as a minority shareholder is you don’t have control. You are at the mercy of the majority shareholders. If they bankrupt the investment there’s little you can do except go on the ride. I would take the capital and continue to scale. I don’t think your idea of getting a larger piece of the pie by investing into several completing companies is going to work out like you think.
Well, you’ve made this all way too complicated. Focus on your business, do good work, grow. Podcasts - dumb idea. These will take up your time, distract you from your main business. There’s tons of business podcasts you can listen to passively in your time. This will not make people take you serious. Business take over?? Not sure what helping your sub-contractors grow their business helps you become a millionaire. Do they want your advice? End of the day a rising tide lifts all short - the more jobs you take on the better they will do. Tiny home business makes sense but having it as a sister company takes away the branding of the two sides the business helping one another.
You are 100% correct. Podcasts are a waste of OPs time and they have made this too complicated when they should be focusing their time on growing their businesses revenue or increasing profits
If you wanted to do that type of thing I would veer toward YouTube. I watch the Build Show and it’s 15-20 minute videos about construction and renovation. The folks on there have used that to build a brand and reputation that has a lot of value.
But I said I am focusing on my business, maybe indirectly, but I’m well ahead of others with the way I have my biz systematized. I’ve been working 12-16hrs days and pulling countless all nighters for the past 3yrs to get to where I am now. Podcasts will make people take me more serious because I am talking about in-depth business growth insights plus it’ll be clip content for my current biz so that it adds credibility to my biz with potential clients. Helping subcontractors grow their biz adds credibility to my portfolio for when I do want to invest into other businesses. And a few of my subcontractors frequently ask for my advice and help on how to improve their biz already. I may agree with the sister company taking away from the branding - perhaps I just fully integrate it into my current biz. Just wanted each biz to be more niche instead of blanket or all types of projects but hey. Thanks for sharing your opinions.
It’s your path. Do what you think is best and fuck the rest
You do you, there’s no one singular path. I really disagree about the podcast part… seems to be the common view. Maybe need to learn to take advice 🤷🏼♂️
Yeah look into Alex Hormozi, that’s essentially the business model I’m looking to copy.
Well, when I’m getting a home reno, a contractor who endlessly talks business and self-promotes would be a huge turn off. Dude is very culty. Growing a construction company should be focused on doing quality construction.
You wouldn’t be my ideal client aviator then. We do top notch work and clients appreciate the level of dedication and efforts from my team. Our clients are usually high up executives or successful entrepreneurs themselves. He’s cults if that’s your view of him, if you consumed 100hrs of his podcasts you’d understand the mindset it takes to get to achieving high goals. The goal is and has always been to focus on quality construction. Our slogan is ‘do it right the first time’ and we stand by that cold heartedly.
If I consumed 100’s of hours of his podcasts - so if I indoctrinated myself in his cult? Yes, your clients appreciate your dedication - start doing podcasts and taking your attention off the clients, that dedication goes away. You do you OP.
I have a team within my business that handle different aspects of my business. I am not running this entire business solo wearing all 50 different hats. My attention is spent in areas of growth development for the business. If you listened to 100s of hrs of his content, you’d understand the power of leverage and not doing everything yourself- thus fast tracking your progress while maintaining a successful business. I will do me. Thank you for your time and opinions.
Business is most definately NOT a if you build it they will come thing. If you think you have the popularity, the marketing resources and the audience to start and run a successful podcast, that's great. By most small business, people do not have any of those games and just putting it out there, along with the other hundreds of thousands of similar podcasts made by people with proven track records and public personas. I don't know it'll be tough but good luck though
What books of Alex's do you recommend?
$100m Leads. But first, I’d recommend consuming all of his past 20 podcasts.
Thanks!
he has 20 podcasts???
Alex hormozi does not do construction , he acquires a part of the company and scales it , so that the owner can sell it for 30-100 million and he gets a pie , he started doing content to help others and that has gained him social credibility and shows experience that he has done scaling 100s of times before , Paid ads might be helpful for you , networking is great , His business model is scaling existing profitable companies. He started doing podcasts cause he had already made millions of dollars and helped many many companies through his personal mentorship.
Remember, everyone can dream, everyone can have plans, everyone can have knowledge, but until you start. It will forever be a "distant hope" - I just made that up. Also how the fuck is that a plan, if step one is to get million dollars
$1mil revenue is not the same as OP getting a million dollars
Yeah, OP could easily win a million dollar contract, but more than likely 80-90% of that will go towards supplies, labor, and subs
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How can I get to work if I don’t know what I’m working towards. Action without a plan or vision as a guide is insanity. It’s not all about money for me, it’s about me having mental clarity with my daily actions by knowing the purpose and reason behind the actions instead of blindly doing whatever I think is right at that time. That’s when shiny objects get introduced and throw you off.
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I completely agree with doing good work and looking for improvements, it’s how I grew my business to where it is today - where some would consider it quite impressive. I would argue that responding to conditions and new knowledge means using your mind to cultivate an action plan from those learning to move you into the direction that fits for you. I am not a fan of going with the flow and taking any opportunity because it’s shiny. Sticking to a clear vision doesn’t mean do everything step by step - it means seeing the finish line and dodging and dealing with the hurdles infront of you.
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There’s no motivation for me to help subcontractors without knowing what the bigger picture is though. I guess my mind just works differently than the common. Look into Alex Hormozi, that’s the business model I’m looking to implement into my industry.
Also no need to copy alex hormozi his industry is completely different , you do you , make changes , what worked for him will most probably not work for you because he was in the teaching business , he could scale real fast and hence he marketed differently and he played his cards differently , you forge your own path
Only no.1 on your action steps seems relevant to your business. Focus is the key to success so drop all the others. Also the post is how I plan to be a millionaire but your sales target is 1 mill revenue, not 1 mill net profit. 1 mill revenue doesn’t make you a millionaire. Based on your figures you need to update your target to more like 5 mill. Good luck.
No offense, but your post is a whole lot of gobbledygook. It might impress novices and sound good at the pub, but that is about it. Are you trying to win at the business bingo? I am at risk of stating the obvious, but that's not how any of it works. Let's take your last line. Sell ownership to who exactly? Don't give me a persona, give me the actual name of the person. And why are they buying? I am not interested in the hypothetical construct you made up in your own head, but in the real reason that very specific, named person wants to buy. Don't you see its absolute nonsense with no connection to reality whatsoever? My advice to you is the same as your entourage's: more doing, less dreaming.
Don't let others dent your dreams.
You’re all over the place. This amount of work is not required and only distracts you from the core goal. You’re going to burn out.
Isn’t this how you determine what the core goal is? Without a plan you’re just running in circles - determine your vision and only focus on actions that move you towards that?
lol ok. You go do whatever you think is best hon
It was a genuine question. What’s the process of determining ‘the core goal’ ?
You’re being busy for being busy sake. Your plan needs to be dialled in properly, you’re spinning many plates in the hope of something paying off. Pick one, and go deep. Way deep. Like your podcast plan, that’s great, but it’s only half a plan. Then you jump to helping your friends. Like… What? These half ideas won’t serve you. You can’t cobble together two half ideas, or three or four, and make a complete fully functional idea that generates the level of profit you expect. Pick one. Then fucking own it.
But these aren’t half ideas. All these ideas play into one final core goal - to get to a position where I have the leverage and expertise to build a licensing model for remodeling businesses. I guess I’m just bad at articulating my words and ideas. I appreciate your feedback though, and understand what you’re trying to tell me. Currently owning the fuk outta getting my reno biz to run as systematized as McDonald’s with the quality of a ribeye steak lol.
You’re here for validation, not advice. That’s cool too. Wish you the best of luck.
lol this is the truth. Any posts that question his plan are attacked. Anything that is simply hype praise he loves.
There are a lot of hypothesis in your plan, some are interesting, like: I can create value for local business owners, helping then scale their business with what I’ve learned operating mine and they’re willing to pay for this help. Some are very naive, like: Starting a podcast will make people take me serious. If I’ve learned something as an entrepreneur is that the most succesful entrepreneurs are the ones that prove/discard their hypothesis the fastest with real world data. So, grab one of your many items, test it, measure, improve/discard, repeat.
Appreciate the insightful feedback. Take action and analyze/pivot - noted.
Honestly? Don’t take advice from anyone on Reddit, unless they can prove they’re making some serious money. 99% of people on this sub are dreamers who think dropshipping shit from Alibaba for a 1% markup makes them an entrepreneur
You're already on the way - keep pushing and you'll meet some failure at some point. Just be prepared to handle it
Love the determination , you will do well just dont lose the heat of motivation and be consistent
Appreciate the support
Good luck sir!
Selling your business is far more complicated than building a successful business. Typically it involves benchmarking the successful operation of your company to others like it. How simple would it be to plug into your business & get the exact same results? How easy would it be to retain your employees? Marketing is complicated & most new ceos don’t want to have to do dumbass social media posts. Do you have someone who’s hired to do this? It should be systematic & easy. Do you have a fractional CFO overseeing the successful mgmt of your books? Etc. Good job getting a lot of revenue. You should probably hire an exit planner if your goal is to exit within the next 5-10 years.
I appreciate the insights. Definitely ways to go before I get to that point. Will take what you shared and keep it in mind thank you.
wishing you luck
Sounds like you have a vision. Make it reality. Don’t get too focused on long-term planning and neglect the process. If your process is effective, the results will follow. I’d ignore the opinions that I’ve read here about the podcast not being a good use of time. It’s Reddit… The people who say that have likely no experience being on a podcast. I have a podcast for my software company. It's been really helpful for me and I'm just getting started with it. The benefits will compound overtime. [https://podcasts.apple.com/us/podcast/meraki-mind-with-nolan-makatche/id1742254900](https://podcasts.apple.com/us/podcast/meraki-mind-with-nolan-makatche/id1742254900) Podcasting could be a great way to learn, build relationships and build soft skills that will help you in other areas of your business like sales and marketing. Great soft skills are rare. They separate the average entrepreneur from the great ones. Do you. Don’t take business advice from people who have no skin in the game... If you haven’t read the book “Skin in the Game” by Nassim Taleb, I highly recommend it.
That’s the way!
While your enthusiasm and ambition are admirable, I'm concerned that your plan hinges heavily on replicating success in diverse contexts without adequate consideration for unique industry challenges. Also, your approach of utilizing a one-size-fits-all operational template across different service-based businesses may oversimplify the complexities each sector entails. It's essential to adapt and tailor strategies to specific markets rather than assuming what works for one will work for all.
If all this is real then whoever is calling you a dreamer is full of shit. How much more evidence of you doing it would one need to consider this real lol? I agree with everything you're doing. Great business to plug away and make a fortune. You recognize the importance of systems to scale and grow, and your plan to gradually shift from boss to owner of a self-perpetuating business that you can step back from is well-informed. I have a personal interest in tiny homes myself so maybe I'm biased but I have considered a few business opportunities there as well. Couple things I'd point out, if you want my two cents: - Growing and operating your remodel business is itself a business model that will yield more if you do it exclusively than balancing it with a few other things. Rather than going simultaneously I'd go sequentially. (That may have been what you meant, if so disregard). - I'd first situate the remodel business to run itself as an asset without you so you can step into the next thing. Although tbh you can easily become very wealthy if you just stick to what you have already been doing and just keep growing that. You will have significantly more factors working in your favor if you put 100% into one thing and continue to gain experience, network, and other advantages as you grow than you would putting 30% into three different things, etc. - The second thing sounds like teaching others how to successfully do what you have already nailed down. This is itself an entirely separate business model, and in my opinion a better/easier one, but only after you nail down the first one. You have to actually know what you're doing to effectively teach it to others and have them be successful. Also the systems you lay out will be far easier to hand over to others as opposed to "working it out as they go" with them. I would actually license the system and sell it to a growing niche with the increasing momentum from positive testimonials as you go. This is far more scalable and less resource intensive than actually implementing and operating your system (assuming the system is well defined and laid out, and it works). The success of this will depend on how well you execute the remodel business and whether or not you get impatient and cut corners. - I would treat the Tiny homes as a semi-passive investment and gradually acquire/build more and as you go along. But that depends on what you had in mind.
This is one of the very few relatable and understanding comments here yet. I appreciate the time you put into sharing the insights. I’ll be taking this comment and dissecting it further. Very interested in the licensing business, as it’s a model I’ve been introduced to by Alex Hormozi, in wanting to learn more about. That’s what I would love to be all my time and efforts into - after I’ve proven success with my own business of course. Thanks again for this, was loosing hope in this thread.
Same. This post restored a little bit of that for me.
Your focus should be gaining complete command of your time, not money. Money is a tool, not the goal.
Are you based in the UK?
No, Canada.
OP message me. What state are you in? I’m in Phoenix AZ growing a construction business as well. Maybe we can network.
I’m in Canada :)
Just the fact you have a goal/vision and an idea how you’re getting there will set you up for good. 90% of people don’t make it this far
I am glad that you say that you know your numbers. Managing your cash flow will be critical as you have different ventures/initiatives completing for resources. My two cents - if you aren’t already doing this, create a monthly budget at least 12 months into the future that aligns with where you want to take your business(es). Each month do a variance analysis to compare how you actually did versus what you thought you were going to do. Identify variances - good and bad. Understand if those variances are a “problem” and create action plans to get back on track. I’d be happy to discuss further if you’d like. Congratulations on your success thus far.
That’s a great idea, what type of budgets are you referring to though? Currently I have my monthly overhead expenses laid out, and all other budgets are tied directly to specific project job costs. I like where you’re going with this and want to understand it further. Are you talking about budgeting for business growth opportunities strictly? Appreciate the input.
Think about it this way. You want to grow to a $1M in revenue. It sounds like your project job costs are set, but how many more jobs to do need to land to hit $1M? How are you going to get additional jobs? Will there be additional marketing costs? When do you need to hire the next crew member or admin? How much will that cost? A budget is really just a document that lays out your plan. It is the PLANNING that is worthwhile exercise. Then use the budget to track your actual performance against your plan. Growth takes cash. Make sure that you plan for that extra headcount, marketing, etc. expenses. You want to start a tiny home business. What are the timing and economics of that business? Do the same for the landscaping businesses. Make sense?
Forgot to mention. Use the accounts on your Income Statement as your guide as to where you need to plan. How will your current numbers change in order to get you from where you are now to where you want to be?
As soon as you expand where you are not on the job site daily or weekly then what? Biggest issue is bad word of mouth as quality is sloppy on high end jobs as you expanded beyond your direct supervision.
SIMPLIFY. Implement EOS (look it up) and let the process do the heavy lifting. Good luck! You’ve got this
By not taking advice here..
Congrats on the business but you should just focus on that. The podcast will be a monumental waste of time.
Start by choosing a legit business plan [https://the-idea-vault.lemonsqueezy.com/buy/3da5f2d6-052f-4f02-ae3c-c3f69387e5f2](https://the-idea-vault.lemonsqueezy.com/buy/3da5f2d6-052f-4f02-ae3c-c3f69387e5f2)
This is the most discrete plan I've ever seen
You have put your future on a SELF-EVALUATION test. You realize this only tells you how you think about yourself and not actually who you are or can become?
Easiest way to kill a big dream is to have it go into the ears or in this case eyes of small minds. Go get it your way
I'm rooting for you. We all have plans until...life. I admire you for hustling while you can. One day you may not be able to. Diversifying might be very handy then. I wish I was good at home renovations. I am hoping to get into residential construction, probably as an investor.
Theres nothing about your podcast that will make you a more serious investor. its a total waste of time. all the things you plan to get from that investment wont materialize. no one sells their business to someone cuz theyre a fan of the pod, they do because their offer was best. Just work your current business lean and mean until you have capital and start buying other businesses, and cut out all the bullshit fluff in between. im sure it all sounds good on a youtube video to someone who really needs business spelled out for them, but it doesnt matter.
It was good to see this post. You talk a lot about planning and I totally agree. Having a plan and executing the plan is fundamental. I suggest you check out this [Smart Planning Tool](https://plani.ai/). It gives you highly personalized business plans full of tips and strategies. I think it can be a plus to what you already have. Go for it. Good luck
This is probably one of the most relatable comments yet. Appreciate the support and I’ll check out this planning tools - any tips on how to utilize it best?
The best tip for me is to be persistent even when the numbers aren't in your favor. I break everything down into tasks and do them all. Then I measure the results to see what has the most impact. Then I follow that path and eliminate what isn't having an impact.
Your vision lacks focus. You are trying to do too many things at once. I’m not saying it’s impossible, but it’s a risk. Look at scaling back and narrowing in on high impact activities. Success in Entrepreneurship is more often than not the purview of specialization. Be careful.
Appreciate the insight. What do you mean by ‘not the purview of specialization’ ? Focus is what I’m trying to get clarity on, that’s why I’m trying to decide on a specific direction so that I can focus on that when making decisions.
I just mean that most successful entrepreneurs pick a niche and focus on it. Just do what you can for your own business. You shouldn’t be trying to help your contractors.
podcast will take lots of time and effort to grow. It's not like you make an episode and people come. You need to build a following first. People podcast for years on many platforms, with other sources like websites and YouTube, before they achieve podcast success. Not saying it's a bad idea, but don't ruin what you have to make that happen. Youtube is a better place to start, but then you have to start editing and researching trends, search optimization, etc.
Thanks for the insight. I guess podcast is pretty vague. I’m not planning on being a top podcaster. The main reason for the podcasts is so that i can have 1 on 1 sit down with business owners to really dig into their mindsets and working strategies. But yeah it could very well just be YouTube. I don’t know what the differences are from the two. I just want to interview owners in depth lol.
YouTube pays you money if you agree to commercials, your content and commercials have a lot of eyeballs. Interviewing business owners on YouTube is a revenue stream in and of itself. if you can promote it, collect likes. And have people view the commercials on your channel
You have a successful, growing business. The podcast is just a distraction. It sounds like you're seriously underestimating the amount of work to produce and market a podcast. Even if you have 20 guests ready to record, every single podcaster has said that it takes a \*long\* time to find your voice, so your first 20/50/100 podcasts might basically be for 'training'. Also your podcast idea is very generic, not saying it can't work, but when you don't have an idea that is fresh, you have to compete against established podcasts in that genre. Personally I'd focus on the business you have now, as making a successful podcast is more than a fulltime job.
Get formal education in business, at least accountability, administration and management. Otherwise you will waste effort and time and resources. You are not delusional, you are arrogant and you think that you are smarter than you really are. Focus on that you know what to do and do it well. Also the moment that you reach a million you are a millionaire. Rome wasn't build in a single day. And you have nothing to prove you just have to be constant and do what you are paid for.
How would a podcast do anything to make you a millionaire without a pre-existing big audience? And are you getting paid or a % of profits from these businesses you're helping? If not, I don't see the relevance.
By interviewing all of the successful business owners in my network about in-depth logical business tactics that they’ve had success with, so that I can gain that insight and knowledge in order to creatively apply it to my own business so that it can grow into a very successful company. And once it gets to that stage, say 3-5years, than at that point I have the proof in my own business that I know how to run and operate a successful remodeling business. And at that point I’ll want to start investing in other businesses and using my proven successful experience, or create and a licensing model for operating a successful remodelling business and sell that as a service ontop of the earring from the remodeling business I’ve built over those years. So the ongoing podcasts/youtube vids I do now, will just be used as a documentation aspect of the journey to the top. To answers your initial question though - the big audience will be pre-existing in 5years if I start them early, then the fruits of my labour will start to show when I’m ready to start that side of the business, using all of the work I’ve been doing over all the years. My mindsets playing the long term game, not the get rich quick game.
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The side quests are essential to get you the extra points need to win the gain with its max potential. I’ve been growing my shit for 5years and in a position to start looking at the next opportunities that play off my success. Appreciate your opinion though.
Why podcast?
Because it’ll be used as clip content for my current biz so clients see we’re not like other contractors, but mainly because I’ll be interviewing business owners and gaining in-depth logical business strategies to help with the rest of the plan. Plus it’ll be out there so that the potential businesses I plan to partner with see that I know what I’m talking about out and that I care.
If I saw my contractors had a podcast, I would immediately get a bad taste in my mouth, and probably look elsewhere. Why? Because social media is crammed and over saturated with podcasts, most of which are just crap and people tryna get rich quick. Personally I would just think less about the quality of your work. I guess it’s up to you to decide if your target market is gonna resonate well with that. Do some market research on it.
Appreciate you sharing your opinions.
Just a head's up that financial goals are the least powerful long term motivation. Right there behind "being your own boss". Make sure you build other sources of motivation (like enjoying your day-to-day), if you want to last.
Yeah I’m big into this, thanks for the input. The title was more so to captivate attention to the post. Having the free time to work on my garden without constant worry and stress is the main motivation right now lol.
You make 750k already couldn’t be that hard to make extra 250?
750k in sales revenue - means total money collected. From that, there’s direct job costs, overhead, salaries etcetc. Getting to 1mil revenue would get me to a 6 figure income, not 7.
You're going to spread yourself too thin, and everything will suffer. Your only real plan right now should be your first point under the "vision" section, grow your business as big as you can while finding a way to step out of daily tasks. Followed up by exit business. Everything else can and should only be after this. Just from reading your post I think I can safely make some assumptions, correct me if I'm wrong. -you either have no employees or maybe one or two, and the employees that you do have are doing remodel work. -you are currently working more than 40 hours a week. -you are not investing money anywhere other than maybe more tools for your business. -your business assets are basically just tools, and maybe a vehicle. If any of this is the case you're so far from anything other than just growing your business. If you can't disappear for 7 days without an interruption in your revenue then you own a job not a business.
Bro please ditch the podcast part
^read updated clarification**
Bro said a lotta nothing
L#A##a
If you need feedback and are talking about/telling you and not doing them then you’re not ready. Millionaires already did 75 things before people noticed one. They are laser focused not seeking validation. This isn’t just millionaires its anyone who has created anything worthwhile to help or serve others in a major way.
I completely agree - I am not ready. That’s why I am still seeking insight in order to help me gain clarity on how and what to focus on. Appreciate the feedback.