In Episode #409, Nathan interviews Brian Scudamore, who launched 1-800-GOT-JUNK. Brian’s unique perspective on his business drives him to take opportunities for growth, but he never wants to sell his company. He believes he must foster his vision to help others grow and evolve.
- Favorite Book? – The E-Myth
- What CEO do you follow? — Robert Herjavec
- Favorite online tool? — All his iPhone apps
- Do you get 8 hours of sleep? — No
- If you could let your 20 year old self know one thing, what would it be? – All the failures needed to happen so that he could learn. Never compromise on the people you bring into your organization. Take hiring seriously
Time Stamped Show Notes:
- 01:40 – Nathan introduces Brian
- 02:00 – How did you get into 1-800-GOT-JUNK?
- 02:20 – He needed to make money for college, and that was the beginning of his business
- 03:10 – First year revenue was super low
- 03:30 – He dropped out of university four years later and made $100k
- 04:00 – 1997 was his first million-dollar year
- 04:15 – He makes money by hauling away junk
- 04:30 – 2015 revenue was 215 million
- 05:05 – 250 franchise partners
- 05:50 – Charges to franchisers are population based
- 06:40 – Helping franchise owners to be successful by keeping fees low
- 07:10 – The average owner varies from $200000 to $1 million
- 08:10 – Why go into the franchise model?
- 08:20 – Building together instead of going it alone
- 08:40 – Collaboration between entrepreneurs
- 08:55 – A crowdsource model
- 09:30 – It is a private company, focused on growth
- 09:45 – He did not raise capital.
- 10:15 – He generates personal wealth by collecting dividends
- 10:45 – He doesn’t care so much about pulling money out for himself
- 11:05 – Wealth is watching people grow and evolve
- 11:20 – He has no board of advisors
- 11:30 – He likes one-on-one advice from mentors
- 11:45 – He is going to have a month-long stay-cation with his family
- 12:15 – A legacy plan is in place, but there is no formal board
- 13:00 – They get emails on a daily basis from people who want to pay him for the company
- 13:30 – His business is like his child—he wants to watch it grow
- 13:55 – He is open to partnerships, but he does not want to sell and risk losing his vision
- 15:00 – Go to o2ebrands.com
- 16:35 – The Famous Five
3 Key Points:
- Help your employees be successful
- Collaborate with a team instead of going it alone.
- Take hiring very seriously.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audiobooks.
- Toptal – Great for business people to start building their app
- The E-Myth – Brian’s favorite business book.
- Show Notes provided by Mallard Creatives