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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.
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.
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
19:42 Following Up with Leads
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