020 - Growing Past Your Thresholds

 

Capital, experience, and talent do make growth easier, but they’re not what actually gets you past your growth thresholds. Your WHY is what gives you the motivation to grow and push thru your thresholds. In this episode, we’re talking about five common phases that shop owners go thru. We’ll share some of the challenges you may face in each phase, plus strategies for getting thru them easier.

Show Notes

  • Best Thing You’ve Seen This Week. (0:58)

  • Story of the Show - Building the first flying machine with Samuel Pierpont Langley. (6:08)

  • The value of identifying potential “thresholds” as you grow. (8:26)

  • What is a threshold? And what are the 5 common “steps” that cabinet shops go through? (9:49)

  • How do you identify a threshold that you need to push thru? (13:03)

  • What does your shop look like in the “Honeymoon” phase, $0 - $250k? How do you push thru this phase? (19:22)

  • There’s a problem with being a “Yes Man...” (20:17)

  • What does your shop look like in the “Brute Force and Awkwardness” phase, $250k - $500k? How do you push thru this phase? (24:12)

  • What does your shop look like in the “Good ol’ Days” phase, $500k - $1m. How do you push thru this phase? (32:03)

  • Firing yourself as an owner. (35:38)

  • What does your shop look like in the “What Have I Done?” phase, $1m - $2m. How do you push thru this phase? (36:22)

  • What does your shop look like in the “Feed the Beast” phase, $2m - $5m. How do you push thru this phase? (42:04)

  • What is “Inbound Marketing?” and how can it help your shop? (44:39)

  • The importance of vision when you’re moving to a new threshold. (48:31)

  • Whatever happened with Samuel Pierpont Langley and his flying machine? (51:30)

  • Key tips as you’re trying to move past your current threshold. (54:10)

  • Tool of the Day (1:01:08)

  • One Thing (1:04:08)

  • Snapshot of the Show (1:04:41)

Tools of the Week

Quotable Moments

  • “Generally, the threshold is either around me and my time, or it’s that we’ve improved and made things in the shop efficient enough to where we’ve kind of pushed the bottleneck on the sales.” — J

  • “I think stress is a huge indicator. If my stress is through the roof, there’s something I’m having trouble breaking past.” — K

  • “You’ve got to pick your lane and stay in that. Even if it’s a wide lane, at least stay in that lane.” — J

  • “I would be willing to bet that the [Brute Force and Awkwardness Phase] is where most businesses fizzle out and fail.” — J

  • “Find people that have the right values and are self-starting. The more you have people who are willing to make decisions, take risks and learn from them, and be invested in what you’re trying to do, the easier your life is going to be.” — K

Resources

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