EPISODE 210: Many professionals in the contracting industry often find themselves distracted by adding on too many types of services or accepting one-off jobs they don’t specialize in.

Instead of focusing on a few offers, they try to take on every part of the market, and end up with inefficient systems, disgruntled employees, unhappy customers, and very little profit.

They are the “Jack of all trades, master of none.”

But this doesn’t have to be the reality for you!

You can avoid all of this, and all you need to do can be summarized in one word: Specialization.

Specialization – and saying ‘no’ to non-specialist work– is the secret to a flourishing home improvement business, and no one knows this better than this week’s guest on The Wealthy Contractor Podcast, David Barnett.

David has over two decades of experience in our industry and is the owner of Barnett Roofing in Knoxville, Tennessee.

In this episode, he shares with us his entrepreneurship journey and discusses the importance of specialization, why you should say ‘no’ more often, and why generational business building matters so much.

He’ll also be breaking down his hiring strategy, the best way to ensure new hires fit into your company's culture, and his secret to employee retention.

Are you ready?

Let’s dive in!

Key Takeaways:

Introduction (00:00)

The backstory of Barnett roofing (01:10)

The importance of saying ‘no’ (03:18)

Stand in your lane! (06:05)

Why mindset is everything (10:51)

No need to reinvent the wheel (16:45)

How to hire the right people for your business (20:04)

The COVID boom is wearing off (24:21)

The future for David (29:20)

The secret to employee retention (32:00)

Additional Resources:

⚡ Learn more about David’s work: https://www.facebook.com/BarnettRoofing/

⚡ Check out their website: https://www.barnettroofingknoxville.com/

--

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

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

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

--

The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!

EPISODE 209: Many contractors and home improvement business owners find themselves making little profit. Enough to keep the lights on, but never enough to actually thrive.

This usually happens because so many people in our industry can’t figure out HOW to increase gross profit margin, which is a key driver of profitability in our business.

One smart way to do so is product differentiation and introducing high-margin “fast to cash” products to your business.

I dive deep into all of this with this week’s guest on the podcast, the brilliant Karen Sager, a former corporate banker who is now the head of MicroMeshGutterGuards.com.

Together, we’ll be discussing the importance of efficient pricing strategies, gross margin optimization and why creating a “product system” could be one of the best decisions you make for your company’s profitability.

We’ll also touch on how building strong relationships with your customers can lead to more business, why product differentiation and telling the right story is crucial, and more.

Are you ready?

Let’s dive in.

Key Takeaways:

Introduction (00:00)

Meet Karen (00:53)

Let’s talk about gross margin (04:41)

Product differentiation (09:49)

How fast do you make money? (14:28)

The fast cash model (22:34)

The higher the gross margin the better! (28:30)

Final advice from Karen (35:22)

Additional Resources:

⚡ Learn more about Karen’s work: https://www.facebook.com/micromeshgutterguards

⚡ Check out their website: https://micromeshgutterguards.com/

--

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

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

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

--

The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!

EPISODE 208: We all desperately want our home improvement business to be a huge success. But there’s only so much you can achieve by applying cutting-edge frameworks, systems, and strategies.

Today, we discuss something even more crucial:

Who do you have to become as a person to make your business a success?

The roadmap to success is as much about you developing the skills you need to become a better version of yourself as it is about ways to increase revenue or maximize profit.

And no one knows this better than the brilliant Matt Hullander. And if you recognize this name, it’s because Matt is a return guest! (Check Additional Resources below for the link.)

Matt is known for his many successful and diversified business ventures despite struggling with entrepreneurial ADHD (like so many of us).

He is not only the founder and owner of a concrete coatings contracting business but also a multitalented entrepreneur who’s made great achievements in real estate, private equity consulting, and writing.

In this episode, Matt will discuss why developing a strong vision is more effective than setting goals, learning to ask for help, how to build strategic relationships, and why you must grow if you want your business to grow as well.

Let’s dive in!

Key Takeaways:

Introduction (00:00)

Matt’s many business ventures (01:15)

Who, not how (05:07)

The daily climb (07:28)

How to think big (13:05)

Stop making business harder than it should be! (18:36)

How to work on your mindset (20:02)

The best of the 10 principles (27:19)

Additional Resources:

⚡ Check out our previous episode with Matt: https://youtu.be/N4SOlVzgBXw?si=qmeTpfegyjg-Pfuo

⚡ Order Matt’s book, The Daily Climb: https://amzn.to/43Iaiu2

⚡ Download the life happiness index: https://www.matthullander.com/

--

⚡ Learn more about The Wealthy Contractor Success Society: https://www.TheWealthyContractor.com/SuccessSociety

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

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

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

--

The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!