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.
Famous Five:
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.
Resources Mentioned:
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 audio books.
Toptal – Great for business people to start building their app
The E-Myth – Brian’s favorite business book.
Show Notes provided by Mallard Creatives