Because Experience Matters with Jack Hanks

Host: Jack Hanks

Special Guest:  Eric Spence

Episode Summary

In this episode, CEO and President of RAM Windows, Eric Spence, talks about running a successful business through the pandemic. Eric served as the SVP of Sales at Jeld-Wen for 27 years before founding Empirical Sales Solutions and RAM Windows. Eric holds a BA in Economics from Ohio Northern University.

Eric and Jack talk about maintaining a work-life balance, the importance of adapting to your team, creating a company culture, running a business during Covid, the automobile industry, and get Eric’s advice to his younger self, all on today’s episode of Because Experience Matters.

 Key Takeaways

• “Energy attracts energy.”
• “You need hungry sales people, but you also need very analytic people to keep those sales people in check.”
• “You never want to look back. You always want to focus on tomorrow.”
• “You improve as an individual through hard times and through good times.”
• “The hard times are lessons better learned because you remember them longer. Your roots grow deeper through stress.”
• “You have two ears and one mouth. Use them proportionately.”
• “Spend time with your family.”

Follow Eric at:

Website: https://www.ramwindows.com and https://ramind.com
LinkedIn:  https://www.linkedin.com/in/eric-spence-b7927655

Host: Jack Hanks

Special Guest: Derik Kline

Episode Summary

In this episode, the Owner of Hail Trace, Derik Kline, talks about building a business out of storm chasing. Derik’s career in storm chasing began as a side hustle when he was 16. In 2012, he quit his job to run Hail Trace.

Today, Derik and Jack talk about getting into storm chasing, his scariest moments in business and storm chasing, creating a work-life balance, having a good team, the importance of accurate meteorology reports, scary storm chasing moments, and get Derik’s advice to his younger self, all on today’s episode of Because Experience Matters.

Key Takeaways

• “I have to learn to not think about work.”
• “If there’s not a claim, there’s not a claim.”
• “The average claim costs $750 just to work it.”
• “It’s all going to work out.”
• “Most things are smaller than what you think they are when you’re in the moment.”

Follow Derik at:

Website:            https://www.hailtrace.com

Email:              [email protected]

Call:                 855 334 4245

LinkedIn:       https://www.linkedin.com/in/derik-kline-086aa912

Host: Jack Hanks

Special Guests: 

• John Woods, Partner of Green Klein & Wood -  representing insured property owners recovering insurance proceeds after casualty events.
• Nick Forsell, CEO of Atlas Restoration - a full-service general contracting company.
• Bradley Gardner, Founder of Hometown Restoration  -  a roofing and insurance restoration company.

Episode Summary

There is a hot debate in the contracting and public adjusting space that could very well impact your business and revenue stream today. If you're not up to speed on Lump Sum bidding and processing, you're already behind the curve.

In this episode of Because Experience Matters, you'll hear both sides of the argument for and against Lump Sums from four industry experts with opposing views. We cover potential price-fixing by using Xactimate, implications for and against using Lump Sums, the legal environment surrounding the debate, and so much more.

 Timestamps

• (01:20) Episode overview: Lump sum bidding and estimating system 
• (02:58) Why do contractors get wrapped up in the insurance claims process? OR Should contractors be involved in the insurance claims process?
• (10:13) Writing profitable invoices without Xactimate.
• (15:32) Should you finance all your claims? 
• (18:20) Navigating proprietary information: when insurance companies ask for too much information. OR Getting denied and underpaid by insurance companies for not providing proprietary information
• (32:39) Finance and then walk away: why you shouldn’t do that.
• (38:39) Why attorneys, appraisers, and PAs are a necessary evil. OR What most people misunderstand about insurance. 
• (40:37) Using Xactimate: when is Xactimate’s pricing wrong? OR Why you SHOULDN’T follow Xactimate’s pricing estimates.
• (46:27) Are insurance companies price-fixing by relying on Xactimate? 
• (49:54) Do contractors know their business financials?
• (55:28) Threatening insurance companies with lawsuits: why it works and what works differently across States. 

Some Perspectives That Were Shared on Today’s Show: 

• While getting wrapped up in the claims process is not technically your job as a contractor, it may end up being what gets you to win a job over the other guy. We need to teach homeowners how to advocate for themselves. 
• We rely on Xactimate because it is convenient to use. However, as a contractor, you still need to know how to write profitable invoices. 
• Contractors can give their clients the ammunition they need to file a strong claim with their insurance companies.
• If you finance a project and then walk away, you’re putting your client in a situation where they are fighting their insurance company to approve the scope of work. This drives business back to third parties like attorneys and appraisers. 
• Insurance is not meant to be a 100% risk transfer (unless you’re paying for that). Insurance is a financial instrument that is meant to share risk. If you set that expectation in advance, you will be less disappointed.
• Xactimate pricing is not always accurate. Pricing is based on what the market dictates, Xactimate does not reflect the state of the market. Labor and material shortages globally drive prices up, and Xactimate doesn’t keep up with these realities. 
• Contractors should know their costs and overhead thoroughly.  

Links

Watch Because Experience Matters on Youtube
Connect With Jack Hanks: Website | Get Private Mentorship 

Host: Jack Hanks

Special Guest: Steven Bush

Episode Summary

In this episode, Managing Member of The Bush Law Group, Steven Bush, talks about running a successful business and the legal side of contracting. Steven holds a Juris Doctor from Florida Coastal School of Law and is a Certified Indoor Environmentalist.

Today, Steven and Jack talk about working in the industry, the importance of having a team, having a plan, the problems with insurance carriers, the truth about fraudulent roof claims, and get Steven’s advice to his younger self, all on today’s episode of Because Experience Matters.

Key Takeaways

• “Being an entrepreneur, owning a business is not for the weak.”
• “You get in business to be successful, and once you are successful, you’ve got to stay successful. Staying successful is what puts you on that hamster wheel.”
• “A great litigator has to also be a great negotiator.”
• “You can win by being honest.”
• “Public adjusters, you are a voice for the policyholder.”
• “You don’t have to be perfect.” 

Follow Steven at:

Website: bushlawgroup.net

Facebook: https://www.facebook.com/BushLawGroup1/

LinkedIn:    https://www.linkedin.com/in/steven-bush-780713103

Host: Jack Hanks

Special Guest: Jack Pinsel

Episode Summary

In this episode, the CEO of Hail 911, Jack Pinsel, talks about growth, parenting, and the future. Jack has served as Hail 911 CEO for over 23 years and CEO of Elite Call for 24 years.

Today, Jack and I talk about struggling with addiction, discipline, and accountability, being a positive influence, and getting Jack’s advice to his younger self, all on today’s episode of Because Experience Matters.

Key Takeaways

• “You just don’t know what tomorrow brings.”
• “No one’s going to work like we do, as owners. Nor should they.”
• “You are where you’re supposed to be right now.”
• “Don’t close your eyes.”
• “Impact the lives around you. Make a difference, and the rest falls into place.”

Follow Jack Pinsel at:

Website: https://hail911.com or  https://www.elitecall.net

LinkedIn: https://www.linkedin.com/in/jack-pinsel-8b18967

Host: Jack Hanks

Special Guest: Nick Forsell

Episode Summary

In this episode, CEO and Founder of Atlas Restoration, Nick Forsell, talks about his career and experiences working in the restoration business. Nick has been active in the construction industry for almost 20 years, with a keen focus on providing work that is quality over quantity.

Today, Nick and I talk about the day we met on the wrong foot, Nick’s New Jersey story, the importance of work ethic, the difficulties of working in the industry, and get Nick’s advice to business owners, all on today’s episode of Because Experience Matters. 

Key Takeaways

• “There’s not a contractor out there that didn’t fake it till they make it.”
• “Whatever’s best for our clients is what we’re going to do.”
• “If we put our clients first, we will be successful.”
• “If everybody worked as hard as you, everybody would be a business owner.”
• “When you f*ck up, own it.” 

Follow Nick at:

Email: [email protected]
Website: https://www.restorewithatlas.com
LinkedIn: https://www.linkedin.com/in/nick-forsell-0965886b