Running your own business is not easy. And it gets even more complicated when you throw in partnership issues and unprecedented pandemic challenges! Martin and Khalil invite Scott Bakkala of Vista Pools to discuss the lessons he learned about business partnerships, dealing with a sudden increase in competition, and developing sound processes along the way.
Time Stamps
- 00:40 - Oklahoma's Erratic Weather
- 01:14 - Intro to Scott Bakkala
- 02:22 - Pool Business & Lessons in Partnership
- 09:37 - Why It's Important to Have Defined Roles
- 11:28 - What Scott Learned From His Previous Partnership
- 14:39 - The Impact of COVID-19 on the Pool Industry
- 18:07 - The Pandemic Pool Phenomenon
- 21:27 - Mistakes, Concessions, and Processes
- 25:28 - Under Commit, Over Deliver
- 27:24 - The Contractor Death Spiral
- 30:20 - How to Get Out of the Contractor Death Spiral
- 32:33 - How Covid Affected the Workforce as a Whole
- 36:50 - Pool Industry Supply Chain Issues & Price Increase
- 41:47 - What's Instore for Vista Pools in 2023
- 43:48 - Advice for New Pool Business Owners
Quotable Moments
- "I think partnerships, they're born, they're incubated in this space of sort of wonderment. It’s a skewed perception of reality, though I think not everyone can share the same dream. I think it takes some very unique relationships to be on exactly the same page, which is what's necessary for a successful partnership.” - Scott Bakkala
- “A handshake isn't good enough. It's maybe good enough for today, but reality changes. It just, always.” - Martin Holland
- “Not everyone is going to share your vision, your goals, your dream, that they're simply just not going to believe in you, and that is okay. Not everyone is going to believe in what you do. Find people that do.” -Scott Bakkala
- “Just because someone's a good person doesn't mean that they're a good partner, and not even a good business person.” -Khalil Benalioulhaj
- “I think there's value in staying in your wheelhouse.” - Scott Bakkala
- “Customer deposit is for work that has not started. That's not money you've earned, and that is a very deceiving figure to have mixed in with your general ledger. - Scott Bakkala
- “When people are starting down this pool purchase process, they don't need to be sold to. They need to be to be educated. That's what they want. They want information. They don't need the sales. - Scott Bakkala
Resources
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