18 Year Old Running a $800K Business

⏱️ 47:52 🎤 Mike Andes, Bryson, Nathan

AUDIO EPISODE

0:00

Chapters

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0:00

From Solo to Success

Mike introduces Bryson, an 18-year-old who scaled his Augusta Lawncare business to almost $800,000 in revenue after starting as a solo operator.
0:01

Rapid Growth & Future Goals

Bryson discusses his business's financial performance, including its rapid growth and his ambitious goal of opening 25 locations in 8-10 years.
0:03

Managing Managers

Bryson expresses his challenge in transitioning from managing technicians to managing general managers, especially with plans to open a second location.
0:04

The GM Conundrum

Mike explains the difficulty of finding great General Managers and the two approaches to building a successful multi-location business.
0:06

Home Office Strategy

The discussion shifts to the advantages and disadvantages of establishing a home office for administrative tasks, emphasizing the need for robust systems.
0:13

Incentivizing Office Managers

Mike highlights the importance of highly incentivizing office managers to ensure efficiency and avoid wasted time, comparing it to field crew waste.
0:16

On-Target Earnings & Expectations

Mike advises on setting clear expectations and using 'On Target Earnings' (OTE) to attract and retain high-performing general managers, especially for profitable locations.
0:18

Empowering Entrepreneurial GMs

Mike cautions against stifling entrepreneurial managers by constantly providing solutions, encouraging them to identify problems and propose their own solutions.
0:20

Capital Reserves for Expansion

Bryson and Mike discuss the necessary capital reserves for scaling to multiple locations, particularly when taking on debt for new ventures.
0:26

Strategic Location Expansion

Mike provides a strategic framework for opening new locations, suggesting that the third location should be considered when tax liabilities become significant.

Speakers

Mike Andes

Host

Bryson

Augusta Lawncare, North Colorado Springs

Nathan

Key Takeaways

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Clearly define expectations for general managers to ensure alignment and prevent high turnover.

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Utilize 'On Target Earnings' (OTE) to transparently communicate potential compensation and attract top GM talent.

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Empower general managers to identify problems and propose solutions, fostering an entrepreneurial mindset rather than just following instructions.

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Prioritize getting the first location into profit mode and then mastering the skill of managing managers before rapid expansion.

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Maintain a clear vision and quantifiable goals for business growth to provide a strong aspirational drive.

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When business is running smoothly, shift into 'defense mode' to systematize processes and fix potential issues before they become problems, making the business more 'dummy-proof'.

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Don't shy away from using family members as co-signers for financing early on, as long as it aligns with your long-term goals and relationships.

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