June 07, 2024

Episode 30 - Scaling Success: How Josh Ferri Built Lakeside Decking in Record Time

1 hour 2 minutes

SUMMARY:

In this episode of Homegrown Hustle, host Matt Eickman interviews Josh Ferri, the CEO of Lakeside Decking. They discuss how Josh was able to build a team and remove himself from the day-to-day operations of the business in just one year. Josh attributes his success to seeking outside advice and help, specifically through joining the Legacy Decks Academy. He talks about the importance of having a mentor or coach who can provide guidance and help prevent problems from happening. They also discuss the importance of pricing your services correctly and the value of networking and building relationships within the industry. In this conversation, the host and guest discuss various aspects of running a deck building business. They talk about the importance of specialization and focusing on one's core expertise. The guest emphasizes the need to constantly learn and stay updated on industry trends and new products. They also discuss the significance of building trust with clients and providing a high-quality customer experience. The guest shares insights into their hiring process and the importance of finding employees who align with the company's values. They also touch on the challenges and rewards of being an entrepreneur and the importance of hustle in building a successful business.

KEY TAKEAWAYS:

Seeking outside advice and help can help prevent problems and accelerate business growth.

Having a mentor or coach who specializes in your industry can provide valuable guidance and support.

Proper pricing is essential for covering costs, meeting overhead, and ensuring future growth.

Networking and building relationships within the industry can lead to new opportunities and resources. Specializing in a specific area of expertise, such as deck building, can set a business apart from competitors and attract clients who value specialized knowledge and skills.

Continual learning and staying updated on industry trends and new products is crucial for providing the best service to clients and maintaining a competitive edge.

Building trust with clients is essential for long-term success. Being honest, transparent, and delivering on promises helps establish trust and fosters strong client relationships.

Creating a high-quality customer experience involves clear communication, setting expectations, and providing a smooth and well-defined process from start to finish.

Hiring employees who align with the company's values and have the necessary skills and expertise is key to maintaining quality and delivering exceptional service.

Being an entrepreneur requires a willingness to take risks, learn from failures, and constantly adapt and improve. Hustle is essential in building and growing a successful business.

CHAPTERS:

00:00 Building a Team and Removing Yourself from Day-to-Day Operations

08:21 The Value of Seeking Outside Advice and Help

09:19 The Importance of Proper Pricing

31:01 The Power of Specialization and Expertise

32:55 Deck Building in Minnesota

35:16 The Challenges of Taking Risks

37:52 The Confidence to Take on Challenges

41:42 Building Trust and Saying No

47:57 Providing a High-Quality Customer Experience

52:33 Hiring Employees Who Align with Company Values

58:43 The Challenges and Rewards of Entrepreneurship

01:00:05 The Role of Hustle in Building a Successful Business

GUEST RESOURCES:

Facebook - https://www.facebook.com/lakesidedecking?mibextid=LQQJ4d

Instagram - https://www.instagram.com/lakesidedecking?igsh=MWhmNWk2OGZtNWI1NQ%3D%3D&utm_source=qr

Website: http://lakesidedecking.com/

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By Matthew Eickman