Description

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Ryan Ezzell, a corporate professional turned painting business owner, seeks advice on bringing his brother-in-law into the business. They discuss topics such as commission structures, profit sharing, and building a sellable asset. Tanner Mullen advises Ryan to consider giving equity to his brother-in-law and outlines a vesting schedule. They also discuss the importance of focusing on growth and building a team, as well as reorganizing the organizational chart to maximize efficiency. The conversation highlights the need for clear communication, transparency, and a long-term vision for the business. In this conversation, Tanner and Ryan discuss various aspects of Ryan's painting business and offer advice on how to scale and improve operations. They cover topics such as hiring and managing employees, using independent contractors, the value of having a team of employees, the importance of investing in resources like vans and equipment, and the significance of providing a great customer experience. They also touch on personal development and the role it plays in running a successful business.

Takeaways

• Consider giving equity to family members or trusted individuals to secure the future of the business and provide motivation for growth.
• Focus on building a sellable asset by creating systems, processes, and a strong team.
• Prioritize growth and networking opportunities to generate more revenue and expand the business.
• Reorganize the organizational chart to maximize efficiency and ensure clear communication and accountability.
• Consider the role of a project manager and the importance of having a point of contact for customers during projects. Building a scalable, sellable asset requires a 'your way or the highway' approach
• Converting independent contractors to employees can increase the value of the business
• Investing in vans and equipment can improve efficiency and customer perception
• Providing a great customer experience requires intense focus and attention to detail
• Personal development and physical fitness are important for both the business owner and employees