Breakthrough Series: George E - Power of Leverage

Contractor Secrets

Summary

George started Georgie's Handyman Service four years ago, but eventually rebranded to Georgie's Painting. He is now looking to grow his painting business and face the challenges of running a business. One of his main challenges is hiring and fulfilling on the work. Tanner advises George to set up a payroll company like Gusto or ADP to handle payroll and taxes. He also encourages George to overcome his fear of taking risks and to start hiring employees. Tanner suggests creating a hiring strategy and posting job ads on platforms like Indeed. He emphasizes the importance of finding employees who align with the end goal of the business and can eventually take on leadership roles. Tanner also discusses the financial aspects of hiring and the potential revenue that can be generated with a team of three employees. In this conversation, Tanner Mullen and Georgies discuss the financial aspects of running a painting business. They break down the costs of labor, materials, and marketing, and calculate the potential salary for Georgies in his first year of business. They emphasize the importance of investing in quality employees and setting up a professional payroll system. Tanner encourages Georgies to be proactive in his business and to clearly define his goals and motivations. They also discuss the importance of leveraging leads and following up with potential customers.

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• Consider rebranding and focusing on a specific service to attract customers
• Set up a payroll company like Gusto or ADP to handle payroll and taxes
• Overcome the fear of taking risks and prioritize hiring employees
• Create a hiring strategy and post job ads on platforms like Indeed
• Find employees who align with the end goal of the business and can eventually take on leadership roles
• Understand the financial aspects of hiring and the potential revenue that can be generated with a team of employees Calculate the costs of labor, materials, and marketing to determine the financial viability of your business.
• Invest in quality employees and set up a professional payroll system to attract and retain talent.
• Be proactive in your business and take action on important tasks, such as setting up payroll and hiring employees.
• Clearly define your goals and motivations to stay focused and motivated.
• Leverage leads and follow up with potential customers to increase your chances of closing sales.