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In this conversation, Tanner Mullen and Garret Hohn discuss the challenges and strategies of running a painting business. Garret shares his journey of starting as a painter and transitioning into a business owner. They discuss the logistics of the painting business, including the importance of delegating tasks and hiring employees. They also explore the value of marketing, particularly through Facebook ads, and the need for a CRM to follow up with leads. The conversation emphasizes the importance of investing in the business and overcoming a scarcity mindset when it comes to finances and hiring. In this conversation, Tanner Mullen advises Garret Hohn on building a successful business. The conversation covers topics such as investing in the right employees, the tools needed for success, comparing business investments, leveraging assets for financing, and the value of coaching and consistency.

Takeaways

Transitioning from being a painter to a business owner requires a mindset shift and the ability to delegate tasks.

Investing in marketing, particularly through Facebook ads, is crucial for generating leads and growing the business.

Using a CRM and following up with leads is essential for converting potential customers into paying clients.

Leveraging debt, such as a line of credit, can help finance marketing efforts and other business expenses. Invest in the right employees who can generate significant returns for your business.

Use essential tools like a marketing agency, software, and a coaching program to support your business growth.

Compare different business investments to find opportunities with high potential returns.

Leverage assets like vehicles to secure financing for your business.

Seek coaching and consistency to stay on track and achieve long-term success.

Chapters

00:00 Introduction and Background

00:23 Starting the Painting Business

01:23 Transitioning to Entrepreneurship

02:16 Logistics of the Painting Business

03:06 Transitioning from Painter to Business Owner

04:35 Delegating Tasks and Hiring Employees

05:02 Overcoming Apprehension in Hiring

06:01 Becoming a Networker and Facilitator

07:23 The Value of a Payroll System

09:08 Using Gusto for Payroll

10:05 Generating Leads through Facebook Ads

11:10 Moving Beyond Word of Mouth Marketing

12:05 Investing in Marketing

14:09 Leveraging Debt for Marketing

16:24 Using Videos for Facebook Ads

18:43 The Value of a CRM

19:42 Following Up with Leads

21:19 Hiring Strategies

22:28 Overcoming Scarcity Mindset in Hiring

23:54 Financial Intervention and Leveraging Credit

25:19 Changing Phone Number and Using Open Phone

28:01 Investing in Tools and Software

30:36 The Importance of Paying for Marketing

31:05 The Value of a Great Employee

31:20 The Importance of Investing in the Right Employees

32:18 The Tools You Need for Success

33:05 Comparing Business Investments

33:30 Leveraging Assets for Financing

34:10 The Value of Coaching and Consistency