3 Key Points:
- Build your business with systems.
- Start with the Leadership Foundation.
- Measure your baseline, create a system, test results and constantly improve the baseline.
- [2:45] – Jamie started his career in sales in 1997 and an entrepreneur since 2009.
- [3:50] – The big challenge has always been finding people who would do the hard physical labor and operate a safe yet profitable business.
- [4:25] – Jamie sometimes felt like a conduit for cash, money comes in but goes right back out again.
- [5:13] – Jamie found that one of the most rewarding parts of owning his contracting business was seeing his customers have that “WOW” moment.
- [5:26] – Another rewarding part of owning a contracting business was helping employees.
- [6:48] – Jamie structured his business, so he could operate it after moving 1000 kms away.
- [7:20] – In year two of owning his contracting business Jamie had a 20-foot fall at work, he almost died, and he needed 6-months to recover.
- [8:20] – After that experience, Jamie asked 4 questions when building his business systems:
- Will it produce predictable results?
- Will the system operate independently of us?
- Will the system scale in the future?
- Would someone want to buy our business running this type of system?
- [11:18] – Another AHA moment was when a competitor approached and asked Jamie to buy his business, but the competitor had no systems.
- [12:13] – When Jamie sold his business the contractor that bought his business purchased it for the systems.
- [14:23] – Systems smooth out your cash flow and helps take the stress out of running the business.
- [18:48] – Residential estimate system helped Jamie close 90% of business despite at times having a higher price.
- [21:30] – “When we broke the system we always regretted it.”
- [22:40] – It takes time and patience to teach your team to follow systems.
- [24:22] – Measure your existing baseline, create a system, test to see if it improved the result above the original baseline.
- [26:20] – A building cannot be built without a foundation; a business cannot be built without the leadership foundation in place.
- [28:37] – Jamie now offers a coaching program that teaches people how to build a great business.
- This podcast interview was originally aired on Contracting Coachcast and aired on August 28, 2017.
If you enjoyed this interview, then you will love my new book The Blueprint of a Great Business! This book is for self-employed people with service-based businesses that want to provide for their families and create freedom and flexibility in their lives.