Paul Maskill is the host of the Business Owners Freedom Formula Podcast. He is a true-blue entrepreneur with years of experience in owning and running companies. He also successfully sold his last company. Building a $500,000 service business while putting it on auto-pilot and keeping his freedom—a feat that not many entrepreneurs can claim—is among Paul’s career highlights.
In this episode, we talked about finance, management, entrepreneurship, small business survivability…
Show notes
- Introducing Paul Maskill. [1:41]
- Paul’s whole story: where he has been, where he is today, and what he aspires to do here in the next decade. [3:51]
- How Paul has prepared and made adjustments to his business, in light of the current pandemic. [8:13]
- Paul’s experience with regard to improving his productivity, and how to get a business owner to start focusing on things that actually matter. [12:51]
- Why some entrepreneurs are the type who would refuse to ask for directions or assistance, even when they need it. [18:27]
- The notion of revenue, and why many business owners get stuck when they don’t know their numbers. [23:30]
- Why some people think that charging people with a profit on top is wrong, and how to price yourself properly. [28:15]
- On assessing opportunity costs, and deciding whether or not a specific job will do more harm than good to your brand. [32:28]
- Why the way entrepreneurs delegate, especially brand new entrepreneurs, can become a major problem. [36:34]
- Good producers, bad producers, and why Paul is a firm believer in “Hire for personality and train for the job.” [43:33]
- How even the small business owners and new entrepreneurs can get out of the “firefighter” mode and mindset. [47:18]
- How to figure out what the most impactful things are to make a company, and how to change your attitude towards productivity and customer relationships for the better. [58:23]
- What it means to have a “sellable” business, and why having options equals control. [1:01:23]
- How to get more information about Paul. [1:03:14]
- Three books on Paul’s reading list. [1:04:58]
- Paul’s most important piece of advice to home service business owners. [1:06:27]
Resources And People Mentioned:
- Business Owners Freedom Formula Podcast
- Bill Gates
- Warren Buffett
- Home Depot
- Craigslist
- Mike Michalowicz
- Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
- The Pumpkin Plan by Mike Michalowicz
- Profit First by Mike Michalowicz
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