From landing in America with $200 and a dream… to building a knife-sharpening machine empire and selling it to a publicly traded company… to now launching iWallet, a cutting-edge payment solution for home service businesses—Jim Kolchin’s journey is packed with grit, pivots, and billion-dollar ambition. You’ll hear how he made his first million shorting Bear Stearns at 26, why he walked away from a cushy early “retirement,” and what he learned failing a startup after blowing $200K on a Kickstarter idea. Now, he’s setting his sights on disrupting the $100B+ home services industry with a payment platform tailor-made for techs, plumbers, HVAC crews, and more. He also dives into: -Why earnouts suck—and how to structure them if you have no choice -How to avoid being fleeced by GPs and private equity players -Why iWallet is winning in tradeshow after tradeshow (50+ per year)
How he’s leveraging tips, VIP memberships, and service contracts to help businesses scale recurring revenue 👉 Drop a comment below—what was your biggest takeaway from Jim’s story? 📲 Subscribe now
This episode proves that with enough hustle and heart, you can build a life—and a legacy—from nothing.
Follow my guest at: -Website: https://iwallet.com/ -Facebook: https://www.facebook.com/iwalletofficial/
Follow me on all Social Media: @LanceBachmann
Exit Rich: Home Service Secrets with Lance Bachmann
Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:
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December 3-5, 2025 JW Marriott - Marco Island, FL
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Podcast
Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846
Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a
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Website: https://lbachmanncapital.com/
LFG #roofing #business #entrepreneurship
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