Million Dollar Electrician - Sale to Scale For Home Service Pros

SUMMARY KEYWORDS

people, eddie, talking, business, electrical, questions, electrician, trust, call, customer, edward, fellas, big, edie, problem, life, put, company, man, asked

What’s the difference between winning and losing in business?
4:45

When do you get to cash in on your equity?
7:22

How many times does an electrician go to a home that isn’t sold every year?
11:44

How to interrupt your client.
15:54

What’s the most important piece of engagement?
19:53

What is your lifetime customer value after?
24:26

The conversion equation is not just as simple as saying “Here’s our price”.
28:40

The Law of hindrance and how to use it.
36:17

What’s been the biggest roadblock?
39:58

The greatest success that you’ll realize is through the leverage of other people.
44:24

What’s the difference between you and the next guy who becomes lazy and gives into a crazier?
50:02

What is the vision for Ion?
54:43

The risks of keeping someone available 24/7.
1:00:33

How do new entrants figure out their pricing? Where do they charge?

law of hindrance, two things that hold back business business owners. One is they say deficiencies in the discipline. So what discipline right the discipline of doing the right things at the right time for the right people. Here's the problem. That changes as you grow your business. What are you supposed to be doing today? What do you suppose to do tomorrow? Every time you fire yourself? The Disciplines got to change. Yeah. So that's problem. One's huge. Most people don't figure that out. Problem two is trust connected to problem one, we tend to build ourselves a little electrical or HVAC Island. As a contractor, we never figure out how to delegate how to fire ourselves and trust someone with a little bit of framework to take that framework, run with it, focus on it and do it better than we ever could. And that is so important. So the two of those combined law of hindrance.

themselves. Business for me yeah, health came into big factor for me. When I started my got into the industry of traveling and fixing those machinery because you're traveling you're on the road, you don't have access to a kitchen. Like I was home maybe for almost like it was an eight year eight or nine years I was only home maybe four or five days a month. So when you're on the road for that much, it's very easy to go on McDonald's Applebee's, all this other crazy shit, you know, all that bad shit. You're not supposed to eat every day. You know, I was 23 I was 2223 years old, weighing two or 350 pounds with a 42 inch waist. It's just like, boy, thank you, dude. Super thick. Now Oh, no, yeah, and this guy's like Wolverine without it. But it was just like, it was just crazy. Because, you know, I had to go to doctors and like, Hey, you're 23 I got to, if I have to prescribe you, you know, high blood pressure pills. It's like, if you keep going with this lifestyle, you're not gonna live a long life. So that for me was just like a, like a switch. Sounds like you know, I need to research I need to figure out what I need to do. Or I can do that. I add that to my lifestyle of traveling not being on the road. And now started searching counting macros. I started researching this with so you know, researching the body, how the body reacts to certain things, complex carbs, I'm just like, again, just forever student just learning just absorb and pivot around. And yeah, so now I'm staying healthy, chubby, even 232 inch waist them all have a lot of good.

Nov 2, 2022
Speakers:
Kent Boll, Clay Neumeyer

SUMMARY KEYWORDS

business, people, service, bit, clay, customers, electrician, absolutely, wife, number, contractors, life, organization, technician, big, company, talked, rise, electrical

Outline
Ken’s background and how he got started in business. (0:50)

How he became an electrician and how he got started. (4:11)

How did you find out about SGI? (10:47)

How did you get involved with SGI and how did you become a member? (15:49)

The first goal of every call is for the customer to use you a second time. (22:58)

What was your first experience trying to expand out of electrical and bring in other trades? (26:49)

Why he decided to buy a plumbing company. (31:57)

Working with a business coach to turn his business around. (37:57)

How to use catastrophic catastrophic events to your advantage in business. (41:46)

What’s one of the greatest advances he has found through technology in his business now? (48:07)

The importance of making the most of every service call. (53:49)

Yeah, yep. So I worked for another company out of high school, me and my dad both agreed to go learn from another company, preferably a larger company. So I was promoted to foreman at 21 with my license. And then I did that for a while. And then my dad came to me in 2005. And he said, I don't want to do electrical work anymore. I'm only going to do refrigeration. If you get your master's license, you can have the electrical my electrical customers, and said, Hey, that sounds great. So I did that. It took me two tries when I passed the Masters test and I started what then was called boys electric. And I did what most people do and took anything that came on residential, commercial, agricultural, new homes or service calls, whatever, right? And then, and then it and then then the recession of 2008 came when everything dried up and times were a little tough. And then when I joined SGI, I went to a profit day, as they call them, and they explained their whole concept. And I said I was born for this as exactly what I could do. I knew I'd be good at this. And sorry, on the spot.

Can I just slow you down there? I'm not sure that all of our listeners know what SGI actually is. Can we stop there for a second? Just explain a bit about what you were looking for why it became them or you know, you join that group?

Rise II Rise Ep1 Guillermo Castillo

Tue, Nov 01, 2022 5:09PM • 1:03:03

SUMMARY KEYWORDS

business, people, service, bit, clay, customers, electrician, absolutely, wife, number, contractors, life, organization, technician, big, guillermo, company, talked, rise, electrical

SPEAKERS

Guillermo, Clay Neumeyer

Outline

Don’t throw the towel in.

0:00

How he got into the business of electrical work.

1:57

What is it about Residential Service that sets it apart from everything else?

8:21

Clay’s passion for helping youth and youth.

15:08

The importance of onboarding your staff and why.

21:24

Winners and losers have the same goal, they do.

27:32

Keep going and keep going.

32:27

The highway of pain and suffering is the highway of suffering.

36:43

The importance of having faith in your life.

41:01

What is the most important mental shift you need to make as a business owner?

45:32

The six basic human needs that every person has.

52:44

What’s the most important thing he would give advice to other contractors?

57:15

Remember, the housing market crashed, we lost so many clients, I was able to get the largest mitigation company as one of my clients. So no matter what the economy did, we were always had work. Because when there's a fire, or a flood or something, a house has to be rebuilt. Two things happened to me while that time with the mechanic, we're working with that mitigation company. Number one, I saw firsthand what electrical hazards can do to a home, most electricians don't see it, all they do is do new construction, remodel, whatever. But when you're one of the worst things you can see is when you see a homeowner shifting through, burnt up pieces of what their house is used to be to pick up burnt up pictures, that has an impact on you. So it really made me start to think like, what I do isn't about just putting up lights and plugs or dimmers or anything. I have the direct knowledge of keeping people in my community safe. And then number two, what it did for me was, I started to, you know, do the estimates and everything more more with a fine tooth comb. And I saw how the profit margins with these type jobs were so razor thin, one change order could could could wipe us out. And would there came a moment in this in time of our company history, where we were owed a lot of money by this mitigation company. And when you're dealing with contractors and insurance company, you almost float every single job and become their bank. And we were owed a lot of money. And I had to scrounge around for quarters and dimes out of a penny jar to buy cheeseburgers a feed me and my wife. Now, I don't know about you, Clay. But that was one of the most humbling things that I had to do. And as a man when you can't provide, I started looking at other ways to be able to change things up for us. So those are the two things that I kind of got out of that moment in time. For sure.

Clay Neumeyer  08:21

No, that's incredible. And I appreciate that share. Because I'm sure if if you're listening to this now you might be one of these people facing those cashflow issues. And for me and you both and I can only imagine, in fact, would you tell us again, like how long are durations are we going without payment after a project is complete?