Description

In this episode of the Dream Huge podcast, Pete Peterson and his co-hosts interview Mike Bender, an entrepreneur and owner of Moby Booth, a photo booth company. Mike shares his journey from being an art major to working in a factory to becoming an entrepreneur. He explains how he got into the photo booth rental business and eventually transitioned to manufacturing and selling photo booths. Mike also discusses the importance of data capture and marketing in the photo booth industry. The conversation then shifts to Mike's experience building a new house and the challenges and lessons learned throughout the process. Building a house is like an entrepreneurial journey with peaks and valleys. Research the builder's front office and vendors. Consider working with a smaller, local builder for better customer service. Pay attention to details when walking floor models. Delegate decisions between partners to avoid conflicts. Visit the construction site regularly during the framing stage. Clarify what is included in the price and be prepared for change orders. Be aware of unexpected costs like stone countertops. Surround yourself with peers and mentors. Dream bigger and break down self-imposed limitations. Learn from failures and listen to the market. Utilize resources like Google, YouTube, and peers. Family and helping others are the greatest accomplishments.

Takeaways

• Entrepreneurship can come from unexpected places and experiences.
• Photo booths are not just for fun, they can be powerful marketing tools that capture customer data.
• Building a house is a complex process that requires careful planning and attention to detail.
• Multiple streams of revenue are important for business sustainability.
• Providing excellent service and helping people should be the focus of any business. Building a house is similar to an entrepreneurial journey with its ups and downs.
• Research the builder's front office and vendors to avoid potential issues.
• Consider working with a smaller, local builder for better customer service.
• Pay attention to details when walking floor models to assess craftsmanship and quality.
• Delegate decision-making between partners to avoid conflicts.
• Visit the construction site regularly during the framing stage to catch any issues.
• Clarify what is included in the price and be prepared for change orders.
• Be aware of unexpected costs, such as stone countertops.
• Surround yourself with peers and mentors for support and guidance.
• Dream bigger and break down self-imposed limitations.
• Learn from failures and listen to the market to adapt and improve.
• Utilize resources like Google, YouTube, and peers for knowledge and advice.
• Family and helping others are the greatest accomplishments.