How He Started a $60K/Month Epoxy Flooring Business
how does Corey make sixty thousand dollars a month with their epoxy flooring business when the average floor installer makes only thirty six thousand dollars a year marketing is the gasoline to the business engine I'm literally taking 1800 bucks of my own money per month to go out and make sixty thousand dollars most people build their business backwards which is really crazy so if you wanna you wanna make money you got to be strategic that saves me thousands of hours of future time I like this Smart Systems is the key to Corey Edmond's success not only has that helped them grow his revenue for his concrete coding business but it's how he runs two profitable businesses would you guys like to replicate that success for yourself well keep watching for more of his insights Corey it's good to be back with you man how you doing good let's dive into your concrete coding business tell us in our audience what made you get into this business and what that looked like I mean what was your experience before yeah absolutely so I got into the concrete coding business about a year ago and I wanted to add on an extra service so this was an easy kind of pivot dealing with the same type of customers I could easily Target some of my customers from my last episode the pressure washing company for lunch right exactly yep so it's kind of an easy pivot I had guys here that could you know handle the services and I went out to Dayton Ohio got trained up on it and off we went I'm excited to share with our audience how you started Pro wash scaled that successfully and now you have started the second company you're doing so great I mean an average floor installer makes like 36 Grand a year and you're doing 60k a month 60 to 80 000 months we've had two or three hundred thousand dollar months in the first three 165 days so incredible Corey yeah I'll I'll teach you kind of the the things that help me scale that here in the video okay right if you guys are interested in their numbers we're going to talk about more of their profit margins and how they operate and save costs so keep watching if you want to implement that in your business yes all right well let's head down to the shop I want to talk about equipment let's do it so between Pro wash and Northwest Concrete Coatings are are there equipment that you could use for both businesses Corey no can't use any equipment from Pro wash I had to buy all new equipment a couple trucks couple trailers wow but I have a couple pieces of equipment here okay um and this thing looks sick what is this thing this here is a propane grinder this is what we use to create a surface profile on the concrete as CSP is what is called concrete surface profile you have to have the correct profile for the coating to stick and adhere and last for a long time these floors that we're putting out are typically 20 to 30 year floors so if a customer is paying seven grand for a floor they expect it to last a while so it's not something you want to do every single year expectation yep exactly what does this thing cost and where can I get the best deal on it we ordered uh some electric Grinders that are robotic they're self-propelled they drive themselves on a trailer this thing right here is about 12 to 13 1400 pounds so pushing this up and down a trailer every single day is a nightmare so I got robotic Grinders that just drive themselves up the trailer ramp so we use a lot of those cost wise on this thing this is about thirty three thousand dollars wow there's a nationwide company John Don so that's usually who I go through I found a rep there um his name's Tyson he's an amazing guy so I'll tell Tyson Tyson yeah he's awesome so Tyson's really helped me out a ton as far as getting me into the right equipment getting me the right Coatings answering my phone calls whenever we have a problem all my guys have his number so he's super responsive really helped me out big time so you went out of state to get training to start Northwest coding tell us about that a little bit Yeah I had a friend that was in the industry Dayton Ohio Lee Baker your one day floors was his company so he's got you know I think seven trucks that run every day he offers training so you anybody can go out there and get training with him that was really cool you know we worked for three days it looks like easy money that's what I got interested in you know I was like oh I mean he's making seven thousand bucks a month but then I realize you know there's a lot of hard work so that was one thing that was real real shocker when I had to get down on the on my knees and hand grind and push the 1300 pound grinder around up and down the trailer humbly experience and you paid 1500 bucks for the training right 1500 charges oh he he charges a lot more I don't know what it is now I'd say it's a couple thousand dollars but he's you know it's in class it's very structured and you get to look at a shop and take a look at his organization and he's just a valuable valuable resource to have as a new business how do we get our first customer and build brand awareness give us what you've learned so far well you gotta have marketing marketing is the gasoline to the business engine specifically odoo time Flyers business cards I mean what's what's most effective initially in the game so you have to determine that whatever you're jumping into for Coatings most people don't know what to Google it so Google ads like it doesn't work well we do disruptive marketing on Facebook so tons and tons of money goes into Facebook ads Facebook is people are looking at kids kittens puppies friends they're not looking to buy anything so you actually have to throw an ad out there they see the floor and they're like oh my God I that's something that like I really wanted I just never knew who to call and boom they fill out a form and we get tons of leads through there when it comes to Google ads it doesn't really work well people are typically thinking Home Depot floor paint I'm gonna go there and get the floor paint and that waste your money when it comes to Google ads so for the coding industry Facebook ads is the way to go what was the cost to start up Northwest Concrete Coatings because it sounds like I want to think about it um so give us a rough number about 60 000 is what I put into it so day one starting concrete 60k yeah so here's how it started so you got to be strategic right we're not playing checkers we're playing chess here so if you want to you want to make money you got to be strategic so here's what I did I just had I taught my sales guy what we were selling he went out and sold the jobs so he actually collected about 20 to 30 000 and 50 deposits oh wow we use that as part of the stuff to buy the grinder you've never done the work we've never done nowhere to sell it didn't have a grinder didn't have a problem the confidence I didn't have uh vacuums we didn't have anything we were just literally selling jobs getting 50 deposits um we still get 50 deposits because there's flake and inventory and yeah so if if you're strategic about stuff then you know you can kind of get in there but uh it it feels risky but for me it was a calculated risk that I was willing to take all right so we're heading to an actual job site right give me a quick understanding of what the job is what the cost is and so forth just interested to know that um so the the job is uh I believe it's fifty six hundred dollars it's only 400 square feet there's two separate garages on this one and it has moisture problems so turned it into a two-day process because they had to lay the moisture Vapor Barrier why do you think you're the biggest in the area in terms of what you do I mean what's the key to that success is it just a lucky coincidence or did you take some ongoing steps to to make that a reality a little bit of both there's really not any competition here and I firmly believe that you really shouldn't focus on your competition you need to really focus on your customer and The Experience slash entertainment that you give that customer um because they'll be coming through in droves even if you have a callback or don't do something right depending on how fast you solve that problem no matter what the cost you know they'll refer their friends and family because they feel safe they trust you you have to be trusted as far as being the biggest in this area just the lack of competition basically there's a lack of competition here that's not a bad thing to have yeah it's not too bad you know just geographically where we are located we're blocked North by the Canadian border we're blocked East by the mountains and we're blocked you know west by the ocean and then um you know we're two and a half hours north of Seattle so there's really nothing in between here so as far as growth growth is I feel a little bit stunted just because of that we can't naturally grow out so that was initially why I you know started a concrete coding company because I realized we were going to to kind of hit a peak with Pro wash at a certain point here we are we made it let's go check it out Grace in a barn oh yeah I was gonna close it I know you told me about the job and what it entails in the car but as far as the process itself can you just quickly walk through the process of doing what you guys do yeah totally so typically like I say we got to grind the floor we got to create that surface profile so that the coating will stick to it this one had a moisture problem so we need to lay the moisture Vapor Barrier that's what's laid there that cured overnight they sanded it down this morning so that the coating will stick to the moisture Vapor Barrier so they've scuffed it up and then we'll apply the coating over top of it that's going to keep any moisture from coming up through and potentially popping that coating and then she should get you know 20 to 30 years out of this floor and what do they do now um so they're mixing base coat right now that sounds pretty potent isn't it it is it's the mess they're wearing respirators they're wearing gloves it does it does have a little bit of a smell it'll die down after it cures in you know two days we do Focus heavily on safety so we make sure we have knee pads we make sure our cartridges are changed out even their cartridges have dust filters so that they can wear them when they are grinding right and what they're doing now is basically prepping it to put the flakes on right you can see the flakes are there how long of a process between what they're doing now and then the flakes are going to be sprinkled on is it right away as soon as they coat it so essentially what he's going to do is going to pour what we call a ribbon out on the floor it's just a line and then he's going to squeegee it across and then somebody else is going to roll it roll it flat make sure it's even and then they're going to throw the flakes into it so I'd love to try that yeah absolutely you can throw some flakes there's actually a little trick to it you got to get it up you want the flake to actually flutter out you don't want to come down and Clump so make sure you do it right if I do it if I do it right I'm hired if I do it wrong I'm fired exactly we got to wear these special shoes in the coating so cool so these are pretty cool they're spiked and it keeps us from you know leaving a footprint on the coating yep those are pretty pretty cool when it comes to buying stuff Corey cash or financed and why why not I finance it so I like to keep my cash in the bank when you figure out how to leverage money you can utilize other people's money to help yourself grow if you only have a certain amount of cash then you can only go so far with that cash absolutely I like to save the cash for marketing so there's a lot of marketing spend to sell these floors so I prefer to keep that cash on the side and finance the equipment this is what thirty three thousand bucks so this is like I don't know 400 500 600 a month somewhere in there no down payments no down payments uh that's another key too is finding a good Banker that you have a relationship with some of my biggest advice is your best friend needs to be a marketing guy your other best friend needs to be your insurance guy and your other best friend needs to be your Banker so I have a really good relationship with my banker I got set up he bought me got me my first grinder and essentially I call them when I need something and boom five minutes he's like go buy it but is it a business loan is it a personal line of credit it's a business financing is it yeah it's a business loan through us under the company yeah exactly Okay so so actually the way I think about it is we have a truck a trailer a grinder some vacuums I'll buy the knickknack stuff you know that that probably between insurance and payments you know it may be 2 000 bucks a month but the truck one truck can go out and do 60 000 a month yeah so I'm literally taking 1800 bucks of my own money per month to go out and make sixty thousand dollars it's a no-brainer it is a no-brainer no-brainer did you catch that spending eighteen hundred dollars a month on equipment to generate sixty thousand dollars of Revenue do you want a no-brainer deal for yourself meet National Business Capital the leading option to help your small business grow fast National Business Capital helps you find the best financing options for you and your business with over 75 lending Partners in the marketplace securing your loan ranging from 25 000 all the way up to 10 million dollars with an easy and Swift application process you can have financing available within just 24 hours National Business Capital has you covered with over two billion dollars in financing secured over the last 14 years countless outstanding reviews and a legacy of experienced advisors that listen to you and your specific needs fusing National Business capital for your small business is well it's a no-brainer so click the link in the description below to get more details and submit your application so that you can smartly Finance the equipment you need so we all know that as a new business you know customer referrals is huge right you do a good job here you talk about you referrals issue yeah what can you highlight with the concrete coding business for yourself let's talk about that a little bit Coatings is big big referrals it's a wow product your neighbor walks into your garage they see the floor they're like oh my goodness who do I call for that another thing that we kind of implemented is we have a follow-up sequence which is pretty fast about that it's a it's a rabbit hole but essentially it's a text and email voicemail bombs videos it all goes out to the customers every step of the way we have what's called a pipeline and that pipeline has the stages that the customer would be in and these are messages that go to them at the various stages and we want to keep them entertained having a good customer experiences is so vastly important in anything you do people spend their last dollar on entertainment Netflix you know baseball games whatever that's true so they're last dollar so you have to entertain them people will spend money over and over with you if you have a crappy product as long as you have a good experience how do you entertain if you if you keep them entertained you know we're sending them checklists so that they can prepare for the job before we even get there we send them you know videos of how it's done more information we send them reviews on the back side send them a bio about the technicians that are coming out to do their job when you start focusing on your customer and less on your competition that's when you really start to just build a business beautiful concrete coding you said there's a bunch of things in terms of material use you went with the flakes why is that can you highlight that real briefly yeah flight coding it's a one day floor so it can be installed in one day it's a really hard day but uh it essentially can be done in one day our typical average ticket price is between four and five thousand dollars wow so how many square feet would that cover approximately anywhere from I would say 400 to a thousand square feet thousand square feet would you know probably be in the Seven Grand range I'd say wow so that can all be done in one day essentially product costs pretty high you got diamonds on your on your Grinders those are pretty expensive right you got a lot of mixing cups and rollers and chip brushes and all types of stuff that you throw away every single job so there is quite a bit of cost involved with it essentially it's easy to do you can make some money and then you know if you want to jump into like concrete polishing or doing some other style coding or anything like that this is an easy way to kind of get into the industry what other equipment do you want to highlight for the coding business so you've got this little thing here this little thing here some of the the main pieces of equipment that you'll need for Concrete Coatings obviously as a grinder okay and a vacuum so this concrete dust is extremely uh can cause cancer over time so breathing it in the Grinders always have to be connected to vacuums there's also hand Grinders that we use essentially we hand grind the edges of the floors with a hand grinder so this is the bad boy hand Grinder Man nothing is heavy it is yeah and you work with this how many hours a day would you say or your guys do oh you just pop down on your knees with some knee pads and grind the edge of the floor a typical 400 square foot garage I mean you can hand grind it out in 30 minutes so what does this thing cost Makita is a pretty good uh this thing's pretty cheap uh a few hundred bucks yeah a couple hundred bucks I mean with the diamonds and the Shroud I mean you're looking at probably 500 right there and how often do you go through the diamonds yeah uh really depends uh there's different diamonds for different style floors you have uh what they call soft Bond diamonds and hard Bond diamonds as you can see the diamonds are the shiny part and uh what holds a diamond is called the bond a hard concrete floor needs a soft Bond Diamond what that does where's that Bond down exposes the diamonds faster and it cuts quicker if you use the wrong diamond on the wrong floor it could take forever or it could absolutely just disturb through the floor in terms of resources besides the three-day training what can you suggest to our viewers to get better at this technique that technique is it just purely Hands-On and do it over and over or is there something else good yeah there's a lot to learn when it comes concrete there's so much to learn there's Facebook groups so you can join Facebook groups there's like one out there that's got like 20 000 people on it so you can hop in there they're always doing courses they're always doing trainings so you can immerse yourself into a network of people that have been doing it for years and that's kind of what I've done and you can post your questions and they'll most likely get answered there's a lot of Distributors there that can help you there's sales reps Etc that would be the first thing that I would do jump on Facebook find find a coding group or whatever jump in there see what you can find and that will lead you somewhere else I guarantee it'll lead you up right down the right Road people love hearing uh exact numbers I mean I read all the comments and people are like hey why don't you dive into more exact you know profit margins totally not the BS Revenue because there's expenses obviously yeah so at the end of the day if I were to start coding business and run it like you are today what can I expect for profit margins 10 50 60 where are we at um it depends on your level you know as an owner operator you can make a lot of money you know do you want employees do you want to work by yourself if you're working by yourself obviously you're going to save a lot of money and you could probably pull like a 50 margin if you're working by yourself not bad but then then again you know you're killing yourself every single day if you get injured you can't work and it's a rough and tough business that's not something I was interested in doing I want to scale up so there's more costs involved with that you know you got middle management that doesn't produce any Revenue when it boils down my profit margin is on a good month could be you know probably 20 percent you know 17 to 20 percent but you're not working you know I'm not 40 hours a week we've had months where we've had a net profit of sixty thousand dollars in one month wow incredible um the the potential is there the potential is there yeah absolutely how important is systematizing a business I mean what's going to do 2A business yeah because you've done that really well yeah um fairly well I was still learning learning every day systemizing is like extremely important you know I have an org chart right here essentially when you start out you know this is you and you're doing sales you're doing office you're doing the cruise work the whole you're doing the marketing so it's very tough starting off most people don't understand that they're going to be taking on all of this and they start to feel really trapped so essentially what I do is I figure out what I'm good at and I do what I'm good at absolutely and I sub out what I'm not good at so in my situation I kind of hate sales so I I hired Cole back in 2020 has been amazing he's helped us expand the companies we'll talk to them just a little bit later yeah yeah it was your first hire he was not my first hire but um he was a crucial hire and so essentially what you want to do is every time figure out what you don't want to do and uh train it and video it and then write a uh a manual for it so how to do it what to look for Etc I even go so there's a manual in every single truck it's a binder there's one for our technicians there's one for our office our sales guys everybody and in there are even QR codes to like how to troubleshoot the grinder what bits do I need um and who worked on that Corey I did you did wow yeah it's a lot of work these manuals and it is instruction it is if you want to free yourself from the business because as we as you start out most people build business backwards they hire the crew they buy the nice shiny truck they're not even thinking of marketing so now they've just incurred a ton of expenses they don't have any jobs on the schedule so it's just very important to system it systemize some of this stuff and you build it every time you back out I firmly believe in like doing things one time there's no need no need to repeat the same things over and over with the right places no need to train these Crews over and over again because you can video it you can put it in a Google form and they come up here on the TV and watch it so and then they take a test so that's how I have all my training all for every one of these positions there is a Google form with videos and testing that follows up behind it on every single position so every time I backed out of one of these positions filmed it manual video test boom you're done okay all right Blitz time with Corey and this is our fans thank you everybody who submitted questions we're going to try to ask as much as possible so Rebecca's asking you Corey what type of equipment did you start with and was were you a solo entrepreneur at first or did you have a crew now we're referring to the concrete business started off with crappy equipment a grinder that was running on one cylinder and how many cylinders usually come with two uh so it was a crappy grinder okay um got shafted but um as far as Cruise um well solo entrepreneur I I already had a business right so I had a plan I had an idea I kind of had the guys I hired a few more guys but yeah I I had a plan I already started another company cool short answers are good Xavier is asking what kind of training and or education did you have in floor coding prior to starting the business yeah three days worth of training I had no prior knowledge experience or anything like that just a lot of self-taught YouTube Facebook networking groups that's what it takes thank you Xavier for the question Aria or Araya is asking how did you find trustworthy and reliable employees you have to be very selective um you can't just hire everyone I have a specific hiring process that I use I stick to it like crazy we'll share that later I think I think that'll be a valuable thing okay um I'm Bill Gates is the user is asking what kind of exit strategy are you looking at you know we're on track for like two million bucks this year I'd like to get it to a cruising out to like five million dollars twenty percent net profit we'd be making a million bucks a year um you could probably sell that for six to ten multiple somewhere and cash out for a big six million dollar check not bad and then Scotty's asking if there's a work-life balance do you have a work-life balance um where are you yeah that's tough workout that's a really good question another Rabbit Hole you know I've I've been able to vacation for you know a month or two you know out of this year so that's really cool sometimes things get tough or you have a manager that moves on or whatever and that all falls in your lap and then there's no worry life balance um so you're you're rehiring for that position you're kind of jogging getting the company back under control um so work-life balance for me really I work you know 50 60 hours a week and I don't mind it I love it yeah super high energy you know it does I I don't care okay so how much would an installer make approximately give me a range and what makes the difference is it percentage is it hourly percentage percentage strictly percentage Yeah I do percentage pay so motivates them to you know kind of get the job done and not really milk the clock they also have the advantage of working less and making more per hour right so that's where it really kicks in is as they start to realize that they don't have to work a 40-hour week to get their paycheck how many days do they work in a week we typically try to keep these guys at three days a week so that they're not getting burned out as you can see it's really hard work it's hard for me to even watch them without me wanting to help them like I literally type of person um I want to jump in here and help these guys out so I don't want this video to be like misconstrued at all like these guys are my slave workers that's not it at all these guys are amazing you know I want to help them however I can sometimes you know with performance pay you'll have jobs and go sideways you'll have a job that maybe doesn't you know pay out a ton or something like that he got a weak lungs Paul no no I just prefer not to I just prefer not to breathe anything that doesn't belong inside what about bonuses um yeah so um again performance pay its percentage and um you know when it comes to bonuses I usually give them 20 dollars for each Google review so if they got a Google review from her today then 20 to every single person that was on the job okay so it could be anywhere from you know I'd say you know 200 to you know I don't know 300 400 a day so it's going to work so what are you doing now so we're just rolling it flat oh that feels nice oh there you go that is really nice M's and W's is what we call it so we're doing M's and W's Justin's putting his shoes on he's going to go out there and kind of roll it the other way we'll cross hatch it so he'll kind of roll it up and down North and South and then East and West if you guys are wondering why I'm not in there that's because Corey's gotten used to this chemical compound you probably have concrete coating inside your lungs I do so I just grab Less in my hand yeah there you go if you got to do a little tiny corner you just grab Less in your hand and throw it up I like this oh see I pumped it up again I see so the higher you throw the left spreads out you get a better even coverage what are your ongoing monthly expenses for the concrete coating business that's a good question so typically it's right around like fifteen to eighteen thousand dollars so that includes um you know we share this with Pro wash so half the bills are split in half so that's part of the rent that's part of the software that's part of the administrative fees that's all your Finance payments and that's before marketing so if it wasn't split between pro-wash somebody watching this and doesn't have the same setup as you'd probably be double that then or um you could you know you could operate out of your home I did for years could operate out of a storage unit I operated out of a storage unit we did seven hundred thousand dollars a year out of a storage unit so with what three four trucks running you know guys just showing up but uh there's many ways again you're playing chess not Checkers be strategic about it so if you can save money in the beginning um then great what I would do is keep cash reserves keep your cash you spend your cash on your marketing you have to be marketing and you who should Finance your equipment one thing to think about too is most people build their business backwards which is really crazy so they they go out they spend all their cash on shiny trucks shiny equipment then they what they realize is nobody's calling my phone right like then they're like oh shoot nobody's calling my phone I have no work I just bought all this truck and trailer I have no cash in the bank so essentially what you need to do is you need to finance the the stuff and you spend your money on marketing so um if I was to do it all over again um calculated the first person that I would hire will be a sales guy so I would hire my sales guy first I would spend money in marketing I wouldn't even buy the equipment like I told you before I didn't even buy the equipment we went and sold Jobs first I would literally uh dial in marking right off the bat put some cash into that get some leads flowing in get your sales process down have a Salesman you know doing the sales yeah it's a little bit stressful but hey you got to make it happen I got it you may mentioned you have a it's not a strict but a specific hiring criteria yeah what is it I have a specific process that I use to hire so typically you know indeed in my area works really really well and and then we have what I call a funnel so you get a hundred people come in and it pumps out you know a couple golden nuggets down at the bottom so we do that with assessments we use an assessment that goes out before we even talk to them it assesses uh their their personal you know who they are as a person and it shows us on a scale are they a good fit for each position in a company and then after that we'll give them a phone interview and there's specific questions like you know can you drive a truck in a trailer are you cool with driving two hours a day you know it's back and forth to a job site um just job specific questions that I would call like the cons of the job because I want to get those out up front then we'll bring them in if they pass that we'll bring them in for an in-person interview once they pass the interview process then we'll bring them in train them go through testing and just kind of keep up with them through training make sure they're catching up we'll get feedback from the team as well and kind of go from there rock and roll from there that whole process is actually 100 automated through go high level so essentially what we do when it comes to our kind of like the the hall hiring process same thing that we do for our customers there's actually a text message and an email that goes out to every single person that we potentially want to hire so the first ones the assessment goes out once they do that we'll send them a text for the next step and then when we when we do finally bring them in for an interview Amanda will do the interview we'll discuss it as a team and then we just move them over into the stage and it fires off all their onboarding documents through DocuSign and they can fill it out on the phone that way the first day when they come in they're instantly going into video training so smooth the video training is in I use Google form links so those are in there it automatically sends them those text messages so it's like how can I save myself time that saves me thousands of hours of future time I'm always constantly looking through my business how can I save myself hundreds of hours of my time in the future and you say with your time by System systematizing and automating everything that you possibly can if you guys are ready to develop your own business mindset with your own business you guys head over right now to the upflip podcast and listen to all the other entrepreneurs that we've interviewed and how they operate their business and how they achieve their success so check it out upflip.com forward slash podcast what is your typical monthly ad spend and how's that allocated across different platforms and what are the best rois yeah um so typically we do we do run Google ads so Google ads we will spend anywhere from you know three to five thousand dollars a month that's between management and AD spend like I say it doesn't really perform that well I hate to be like too heavy in one region I want to have like diversity and when it comes to marketing uh if you watch Shark Tank enough you'll know that they don't like when people are heavy Marketing in one thing so try to diversify a little bit the leads from Google are higher quality when it comes to Facebook ads we'll spend anywhere from probably six to twelve thousand dollars a month so I'll spend it um heavier when people are actually buying so when is that um typically March through it dies off in November your cost per lead because people aren't clicking in the slow months is actually driving your cost per lead up it's actually wasting your money so essentially what you want to do is what I've done to kind of figure out marketing and when to turn it on turn it off because you can spend a lot of money in marketing and that could be a profit so what you need to do is track your estimates put them on a little line graph each month if you got 10 this month you got 20 this month and track that every single month and you create a line graph and that gives you the seasonality of your business and why I say estimates they could even be phone calls why I say that is because that is when people are actually interested and they're actually buying so you're figuring out what the market is doing and that's when you decide to spend the money and when that that line graph starts to Skyrocket that's when you Skyrocket your ad Spin and you start spacing your jobs selling extra jobs and putting them out further on the schedule diving into the four pillars of of a business right there's four pillars that you kind of have to like really master and dive into and you have to address and learn more about the first one is marketing that's the gasoline to the business the second one is the sales process do you have a good sales process as far as like what does a customer feel what's the experience entertain them so you kind of got to dive into that the second part is the delivery of the product or the Fulfillment that's when the installers go install the coding and then after that once you have all those mastered you can really start to master the management side of the business and that's when you become more of a person that works on the business and not in the business getting trapped in the day-to-day and so that's those four pillars there have helped me kind of get out of the day-to-day and I can be with you driving around horsing around and you know having fun enjoying life right and and still making a living Cole Good To Be With You Corey mentioned you a number of times as being in charge of sales for the company right yeah so tell us a little bit about you your role what you do and how you how you scale the company together with Corey and the team thank you yeah uh so with Northwest Concrete Coatings uh my role is I'm the sales manager uh some of my duties consist of helping our other reps or sales reps with their daily tasks keeping people motivated um I want to be a good leader for my team and also answering any questions or concerns people have related to these construction jobs because it's not always black and white so sales is one of the four main pillars of any business it's super crucial definitely talk to us about briefly about your sales process and what's been most effective for you Google yeah so my sales process is we're gonna have incredibly concise communication to start with people people are scheduled an estimate and after they're scheduled it sends a text notification that I'm on my way I greet a customer what I'm building a lot of value in the fact that this is a luxury service it's not required to have a coating on your garage floor and so I'm really hyping it up I personally love the product and I try to bring that in to show somebody that as well and after I've talked to them you know the the most important thing with selling these floors is that you have to ask for the sale a lot of companies most people don't a lot of companies are sending estimates via email or they don't even meet in person they'll ask for the specs of a house and I've I've found in my experience that if you don't ask for a sale while you're in person your closing ratio is going to go down drastically can you give me an example how you ask for this the closing yeah yeah I will I'll show them their estimate uh in their nice folder that we have and I will just I'm very straightforward with it I would just say when would you like to get this scheduled something simple as that um and put them on the spot basically I'm here here's the number we take a 50 deposit um my office will communicate with you to to get that and then when was a good time to have the service scheduled for you let's check out the flakes tell me about this and how you order them and what they cost per pound I mean this stuff looks kind of fun yeah so every box here is about you know 110 120 dollars so with shipping so like a box like this it's 120 bucks 110 bucks oh it's not that heavy they're 40 pound boxes okay so how much area would this cover yeah good question uh 250 square feet and then you'll actually recover some so technically they go about 300 but you know we estimate 250 so that we don't come up short how many variations Cody do you have um yeah we essentially had to create our own flake blend so every single blend that you see here we actually created it with the different shades and everything and named it what's the biggest seller here just I would imagine more of a neutral color right because yeah they probably would go with the soldier if you guys would take a look it's more of like a really that one's hideous hideous fun I mean unless you want to have a gym in your garage that's that's what it makes can you tell out of uh all these little signs here which ones my employees did I would not be able to get the blue tape oh you're funny kind of like that drawing where uh somebody drew a beautiful back end of a horse and then somebody cheaper came in to finish up the drawing and the front side of the horse is a stick figure huh and besides connecting with your friend who already operates a successful coding business uh is this industry similar to like real estate right we pay for coaches and mentors and stuff that that help push us forward could that be the same thing here have you I have a business coach you do so I do pay monthly for in general though not specifically for code in general yeah how important is that vital to the success and scaling of your business and it's invaluable yeah when we came down to coven we shot the first video you know with that coaching program I tripled the revenue in 2020. the knowledge that was there as far as like you know the PPP loans and grants and all types of stuff that they were like sign this sign this fill out this you know do this do that the money that we got back more than paid for the whole program for that year right that's awesome I always tell people that coaching expenses is not an expense right it's not it's an investment so um a friend always told me you know what's it going to cost you to not get coaching it's going to cost you more money it's going to cost you more time so don't think about coaching as how much does it cost a month how much does it cost to not to not have one I love it what's the last book you read if any last book I read so I typically am not reading books which I should be but I use blinkist it's an app and it turns the books into like 15 minute books it just gives you the 12th notes and so I'll I'll listen to those uh quite often a really good book that I definitely recommend if you've never if you don't even know where to start is the E myth yeah e-myth Revisited um that is an amazing book that will change your life I've even given it to my employees to read when they know this cool book too by the way questioning you know all the money that I'm making and stuff like this they think that it's all profit I'm like you know go read this book some of them do some of them don't they come back and they are amazing employees after that never ask again at this point in time for both companies what would one expect to be compensated for Euro so with sales you receive commission same with real estate and so you get what you kind of put into it with the Concrete Coatings I receive uh eight percent of of the subtotal of a project I sell okay um and so I try to sell as many projects as I can of course it's going to depend on the time of year if you're somebody in my role selling Concrete Coatings in the summer you're going to have more leads flowing in but if you're really motivated you can make phone calls you can go door knock you can put out door hangers signs and I oftentimes and try and create relationships with real estate agents as well as contractors with the concrete floors specifically when another book that I really really recommend is profit first by Mike mccowitz so I use a bucket method or profit first method banking so I have five bank accounts all the deposits go into one account and then they're split based on percentages where they need to go we have a payroll account we have a profit account we have a sales tax account we have an overhead account and then we have the just the deposit account nothing goes out of the deposit account no bills so it all comes in and then it's dispersed based on a percentage I built a calculator in Excel and that actually helps us build money you know business owners they get into this process where they're not making any money they finish up the end of the year there's no money left over they read their profit and loss their accountants like hey you've profited 60 Grand in the the business owners like well where's the money because it's not in the account so using profit first really helped save my life actually I've I've been able to save a ton of money and I you know definitely recommend profit first by Mike Mike mcallowitz I'm mcallis we'll have to check it out well in conclusion what would be your number one advice to entrepreneurs watching this episode what comes to mind what comes to heart ah a lot but you can never stop learning there's going to be a lot of challenges they're called barriers they're barriers for a reason a lot of people won't go over over those barriers but what you need to tell yourself is why am I going over this barrier why do I need to learn this and think about the reward if you can relate you know why I need to overcome this barrier well if I overcome this barrier I hire this manager I'm going to be able to go on vacation for three months out of the year so think of the reward every time there's a problem think about what happens when you solve that problem and that'll just keep you pushing forward and pushing forward and pushing forward the more problems you can solve the more money you'll make there you go well that's a wrap it's been a pleasure thanks Paul thanks well that's a wrap with Corey the owner of Northwest Concrete Coatings I hope you guys really enjoyed this episode learned a lot and you can start on your own today thank you so much for watching take a second to like subscribe and hit that Bell so that you don't miss any of our videos we appreciate you a ton foreign [Music]
2022-10-29 04:38
