OWNR OPS Podcast 30: MULTI MILLION $$$ CONTRACTOR PLAYBOOK W/ LES O'HARA
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Apr 26, 2024 Les O'Hara, a seasoned contractor coach who runs a successful $4 million masonry business in Chicago, shares his entrepreneurial journey in this enlightening chat. He reflects on how his sports background informs his coaching methods and highlights the pivotal role of mentoring in scaling trades businesses. Les delves into the challenges of moving from a family roofing business to launching new ventures, emphasizing the importance of networking, tech improvements, and effective financial management. His insights are a goldmine for aspiring business owners in the trades.
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Look Like a Million Dollars
- Look like a million dollars before earning it by investing in branding and marketing.
- Heavy use of images, signs, reviews, and customer service differentiation are key.
Master Cash Flow Forecasting
- Practice cash flow forecasting weekly to predict income and expenses three months ahead.
- Use simple sheets tracking collections, labor, materials, and overhead for realistic cash management.
Diversifying and Family Business Lessons
- Les bought North Shore Brickwork and other businesses to diversify away from risky roofing.
- Business with family and friends often failed due to differing expectations and poor communication.