By Madelyn Wightman
How to “Backfill” Your Position as a Business Owner | The Wealthy Contractor
Working in the business versus working on the business.
Recently, Leap CEO Patrick Fingles was interviewed on The Wealthy Contractor Podcast, hosted by Brian Kaskavalciyan with gFOUR Marketing. In this episode Brian and Patrick talk about the reality of going into business for yourself. “For the most part, from my experience, it’s really all about freedom. Hear Patrick talk about the difference between working in the business versus working on the business. He says, “Time to work on the business equals success. And we know the path to working on the businesses, is competent employees that can work in the business.”
Brian Kaskavalciyan, the founder of The Wealthy Contractor invited Patrick Fingles onto his podcast to discuss how Patrick backfilled his position with NuLook to start Leap. “I kind of backfilled myself with leaders that are still there today. Those leaders have managed the day-to-day operation of those companies so I can focus on Leap.”
Patrick believes 3 keys to working on your business rather than in your business:
1. Hire competent people and lead through autonomy.
2. Give the team the autonomy to make decisions.
3. Trust the people you hire to hand off the reins.
There is fine line between being “a hands-off owner, that really empowers the leadership team to be successful, and so props off, or it’s an absentee owner, and that’s why we fail.” Which are you?
Listen to the full podcast here to find out.
Leap is partnered with G4 Marketing Group to bring the home improvement industry more success, wealth, and freedom. The primary goal of “The Wealthy Contractor” Podcast is to provide real world education, training, and best practices. Click here to learn more about G4 Marketing and “The Wealthy Contractor” Podcast.
Mark recently joined Leap’s podcast, “Leaps & Bounds.”
Leap is a point-of-sales software that takes multiple steps in your sales process and puts them in one digital resource. With Leap, you can pitch your company with updated marketing materials, pull aerial measurements into Leap to show how much material is needed, select products, present pricing packages, sign contracts, offer financing, and process payments ALL with the homeowner in a single appointment.