You’ve heard the expression “there’s more than one way to skin a cat”?
Sorry for the graphic intro, but the point is there is always more than one way to get a job done.
The same holds true for scaling your business. While the growth path for most trades and construction companies follows a similar pattern, there are some entrepreneurs who truly see scaling as one problem with many possible solutions.
Eric Barstow of Foothills Painting and National Painting Group is one of these entrepreneurs. Some of you may know him from his huge online painting community called Painting Business Pro, or his massive YouTube following. Eric has followed the path less traveled by using an innovative partnership model that takes the intense pressure to grow - most of us are familiar with - and share this load with capable partners.
I’ll let him break down his actual model, but for you the listener, what we really hope you take away from this episode is that while Eric's model is A-Typical, it WORKS. This guy has done it a different way, so what could a different way look like for you?
I hope his story helps put the expansion of your business in a new light. What got you here, won’t necessarily get you where you want to go. It rarely does. And being exposed to a completely different approach to business growth could help you creatively problem solve your next few moves in the pursuit of excellence.
Eric has accomplished a tremendous amount as a young guy - his business is doing a very profitable 11 million dollars a year in revenue, and headed for massive growth in the coming years. However, his path to get here has been full of huge challenges and massive setbacks, which he openly shares with us in today’s episode.
One of the things I really appreciate about Eric is his ability to absorb failures and learn from them in a powerful way. In today’s show, we dive into many of the significant challenges he’s run into, and his greatest lessons coming out of them.
So let’s dive into both Eric’s unique expansion model and some of the lessons he shares with us including:
- How pursuing multiple opportunities stunted Eric’s growth
- Why Eric doesn’t like the traditional Franchise model to scale
- The unique model Eric has created has allowed him to scale to 11 million and maintain a balance
- Why pursuing fast growth ironically led to a 2-year setback
- How to spot opportunities and why you want to avoid the flashy ones
- The reason setting goals around personal income can lead to failure