Is Hiring Family a Good Idea? Another Week in the Life of a Young Business Owner | Episode 40

Summary

In Episode 40 of 'Learning the Hard Way,' Olle shares updates on his landscaping and startup ventures, including the arrival of his sister Robin to the office team. He provides insights into ongoing projects, like the Farum landscape with olive tree installations and soil preparation. Olle also discusses the challenges and excitement of launching a new grab lorry company, reflecting on the growth of his businesses and the importance of building a skilled, dedicated team. Amidst a busy week, he highlights new project inquiries and the journey to obtain his HGV license.

Takeaways

• 😀 Olle reflects on the importance of practical learning, especially during the first-time experiences in business.
• 😀 He mentions being more active on LinkedIn and social media, which has helped generate four new inquiries for the business this week.
• 😀 Two out of the four inquiries have the potential to lead to quotes, showcasing the business's growing reach and opportunities.
• 😀 Olle has been introduced to a new major project through a strong partnership with a main contractor, with the project having the potential to be the largest in the company's portfolio.
• 😀 Despite the excitement, Olle emphasizes the importance of being cautious until the money is in the account, given his experience in the industry.
• 😀 He discusses the ongoing process of keeping the company at the forefront of potential projects, making sure the team is top of mind for clients.
• 😀 Olle talks about the relief of returning to working on core business activities like Hardwoods after the busy networking phase.
• 😀 The company is actively working on improving its systems and operations, with a particular focus on in-house training to ensure growth and skill development.
• 😀 A new team member, Robin, is introduced to the office team, supporting the business as it expands.
• 😀 Olle highlights his personal journey, including his pursuit of an HGV license to manage his own grab lorry company, which adds to the business's capacity.
• 😀 The episode ends with a reminder to viewers to engage with the brand’s products using a discount code provided in the video, creating a call to action for the audience.

Q & A

What is the main focus of the episode?

The episode primarily focuses on Olle's journey as a business owner, discussing the growth of his landscaping business, new ventures like the grab lorry service, and the addition of a new team member, Robin. It also touches on the challenges and successes of running a small business in a competitive industry.

Who is Robin and what role does she play in the company?

Robin is Olle's sister and the newest member of the team. She has joined the office to help manage the increasing workload, specifically supporting operations and contributing to the company's growth.

What landscaping project is mentioned in the episode?

The episode discusses a landscaping project involving the planting of olive trees, as well as the installation of terrace walls and the use of high-quality soil like John In’s compost from Berry Hill.

What challenges does Olle face when growing his business?

Olle faces challenges such as navigating competition, securing new projects, building relationships with contractors, and managing the workload with his growing team. He also highlights the importance of networking and hiring skilled staff to maintain quality and support the business’s growth.

What is the grab lorry business, and why is Olle excited about it?

The grab lorry business is a new venture that Olle is pursuing, where he plans to offer grab lorry services for material collection and delivery. Olle is excited about this new service because it offers an opportunity to disrupt the industry and is a way to diversify the company’s offerings.

How does Olle manage the risk of getting too excited about potential projects?

Olle remains cautious when it comes to large projects, acknowledging the importance of securing financial agreements before getting too excited. He has learned from experience to be measured in his enthusiasm until the work and payments are finalized.

What does Olle emphasize about maintaining transparency with clients?

Olle emphasizes the importance of being transparent and clear with clients about what can and cannot be delivered. He believes this helps to build trust and manage expectations effectively, especially as the business scales.

What is the significance of networking in the episode?

Networking plays a crucial role in the episode, as Olle discusses how building strong relationships with contractors and others in the industry has helped secure new projects and opportunities for growth. It also highlights the importance of being active on social media to maintain visibility.

What is the personal lesson Olle shares regarding leadership and imposter syndrome?

Olle reflects on his personal growth as a leader, acknowledging that managing a business has required him to overcome imposter syndrome. He shares that, despite the challenges, he now feels more confident in his role and the direction of the company.

How does Olle feel about the future of his business?

Olle expresses optimism about the future of his business, noting that the market is still strong, and his team is growing. He is excited about upcoming projects, including a potentially huge landscaping project, and believes that consistency and strategic planning will ensure continued success.