May 18, 2023
Joshua Latimer started his window-washing business
with nothing, but through his wisdom and efforts, he became a
successful serial entrepreneur who helped many people become
millionaires. Despite having five kids, he has launched a number of
hugely successful businesses, making him my definition of a genius.
With his ability to challenge your beliefs about entrepreneurship,
abundance, business, and success, this episode is sure to blow your
mind!
I know you want to succeed, that is why you are still reading, I
assure you that if you are committed to making that happen, you
will tune in to today's episode and absorb the wisdom he will share
because I guarantee that you will be able to get a million dollar's
worth of value by listening.
Joshua Latimer hosts the Quick Talk Podcast - Grow Your Service Business. Currently, the show is in its seventh year. As the founder of AutomateGroseSell.com, he has helped small service business owners understand the power of simple systems. In July 2021, he founded KidWarPlan.com, intending to teach kids how to improve their knowledge, confidence, and maturity. Joshua has also spoken at numerous seminars and events as a guest speaker, sharing his knowledge of upscale business strategies with entrepreneurs.
“When you explain to people what you do, don't just tell them the
name of the service. Stop selling services and start selling
stacks. You
need to stack your value.”
– Joshua Latimer
Topics
Covered
00:12 – “If you don’t know who he is, you will. He drops
mind-bombs, and he has this way of creating proprietary language
when he speaks.”
Introducing today’s awesome guest, Joshua Latimer, while talking
about the stages of businesses
05:45 – “I sold it because it’s not the greatest business model in
the world; it’s just not. It’s a perfect training wheels
business.”
In spite of the fact that his service business was thriving at the
time, Josh explains why he sold it.
12:09 – “You want your pricing to actually reflect the future
version of your company.”
We talk about the typical EBITDA of a 1.5 million dollar company,
along with tips for getting a multiple of four to five at the
exit.
17:36 – “Price objections are a derivative of
expectation.”
If you get price objections when you are growing your business, how
can you change the outcome?
30:36 – “Instead of trying to get money, there are four things you
should try to obsess about the goal of getting instead of money
that automatically give you money. So if you get these four things,
money will happen to you.
Is money the only thing you should focus on? If you want to succeed and think about how to get money, Josh recommends having these four qualities. This is what he refers to as success derivatives, which will help you achieve victory.
Key
Takeaways
“For a lot of people, the service business is where they learn
business…but what you’ll also learn as you eventually have success
with your service company is that it’s not the greatest business
model ever. I’m not disparaging it; it’s just
not.”
“If you think that you have to be the cheapest, well, you’re
literally destined to just struggle, and it’s going to be harder
for you.”
“Stop selling services and start selling stacks. You need to stack
your value…Money is the byproduct of being a value creator in the
marketplace, for your customers, and for your employees. Money
happens automatically when you’re a person of value and
enthusiasm.”
“You got to stop trying to get money to make a lot of
money.”
Connect with Joshua
Latimer
YouTube:
https://www.youtube.com/@JoshuaLatimer
Facebook:
https://www.facebook.com/people/Joshua-Latimer/100006782565455/
Instagram:
https://www.instagram.com/meetjoshlatimer/
Connect with Keith
Facebook: https://www.facebook.com/thelandscapingemployeetrap
Instagram: https://www.instagram.com/keithkalfas/
YouTube: https://www.youtube.com/@keith-kalfas
Website: https://www.keithkalfas.com/
Resources/People
Mentioned:
My
Website:
https://www.keithkalfas.com/
Brian
Haggerty: https://www.linkedin.com/in/bchaggerty/
Tommy
Mello: https://homeserviceexpert.com/
Ballard:
https://www.ballard-inc.com/
Jill's
Office: https://www.keithkalfas.com/blog/jillsoffice