Episode Transcript
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Speaker 1 (00:02):
Hi there.
Welcome to this week's episodeof Epic Entrepreneurs.
I'm Bill Gilliland, your host.
I am the principal at ActionCoach, Business Growth Partners
and also one of the founders ofthe Asheville Business Summit.
So we're welcome.
We're glad to have you on thepodcast.
We're welcoming Doug Petersonfrom Peterson Builders and I'm
(00:23):
excited to have him as the focustoday on our business spotlight
.
Thanks for being here.
Speaker 2 (00:36):
Yeah, thank you sir.
Speaker 1 (00:39):
So introduce us to
you and Peterson Builders and
tell us a little bit about youand your business uh, yeah,
absolutely.
Speaker 2 (00:50):
Peterson builders tx.
We are a third generationconstruction company.
Uh, out of course, my dad andgrandpa both built houses, but
kind of in a different manner.
Uh, started building, had dad,grandpa, grandpa and my uncle
and then built.
Basically someone would get anew house in the family
Basically every two years.
(01:12):
Everybody moved and then got anew house and it was a way to
get from there.
My grandpa started buildingspec houses as he had something
else to do and my dad did thesame thing and I went off to now
do something different and thenjust kind of found my way back
(01:32):
into construction and startedbuilding stuff and moved to
Texas about 15 years ago andjust been why they build mainly
in Horseshoe Bay, texas.
We've got some stuff in MarbleFalls we did one in Wimberley,
(01:53):
but it's in the Hill Country,nice, nice.
Speaker 1 (01:59):
So let me ask you
some questions about business.
So if you had to start fromsquare one in your business,
what would you do differently?
Speaker 2 (02:08):
start from square one
in your business.
What would you do differently?
So I probably started a littleriskier than I started.
I originally started as one ata time in my pocket and, seeing
what I've seen in the area nowas far as growth, I probably
would have been here and startedtwo or three at a time and
grown because our area is justcontinuing.
The demand is there, especiallyfor a quality house.
(02:30):
There are some houses thataren't selling, as in a
different tax bracket.
So in our area it is theretirement community around golf
courses and so a lot of peopleare moving from California,
colorado, colorado you know allof us to move here to retire and
enjoy, you know the resort andall the amenities it has, with a
(02:53):
bunch of it's a higher scale uhhouse than than what I was
doing in nashville and that'sthe house for their retirement
home.
So it's you $1.5 million to $20million.
Speaker 1 (03:09):
Yeah, got it.
So what you're saying is that,hey, you may have taken on more
faster.
Speaker 2 (03:18):
Absolutely, I think,
risk of the unknown in the new
area and, knowing what I knownow, and especially during COVID
, it would have been okay totake a little bit bigger risk.
Speaker 1 (03:32):
Why did you move?
Speaker 2 (03:37):
uh, a woman just like
met a girl met a girl in
nashville and she was from texas.
Leave the girl or leavenashville.
So it was kind of an easydecision yeah, no, well, it's
great.
Speaker 1 (03:52):
I mean it's an
interesting one to to be have a
business in in one city, andthen I mean you have, you
obviously knew how to do thebusiness, but you got to start
over, you got to get new subs,new everything.
So, yeah, it's an interestingmove.
Speaker 2 (04:08):
It is especially in
our business with our
subcontinent, part of our trade.
You know I can have, I dodesign all my own homes.
We do everything based.
So everything is based, youknow, one off.
Every single house is unique.
Understand my vision andunderstand what I'm trying to do
is very important.
(04:29):
So some of the guys over halfhave been with me since the very
beginning.
So there's a couple of concreteguys that didn't pan and most
part I settled in and juststarted watching.
The guys are doing a great joband started trying to get their
business and I did and I've gotthe same guy since.
(04:50):
So I'm just happy and it keepsme from chasing new subs.
Speaker 1 (04:55):
I love it.
I love it.
So what have been your biggestlearnings as a business owner?
And I don't know if you're anemployer, but as subs, you're
definitely employees.
Speaker 2 (05:06):
So since you started
your business, lesson that I
learned out of lead time onstuff.
I've completely changed how Ido business now from when I used
to ordering tile, gettingeverything.
(05:27):
When we're doing plans and I'mabout to pull up, ordering
appliances even as far asfire-powered room that I keep,
it's just supplies for laterdown the road.
I think better appliances, thehigh-end stuff that you can't
(05:47):
get at Home Depot, is notsitting on the panel-ready
fridges and stuff.
They just they don't exist in awarehouse somewhere and a lot
of those are made to.
Also, we make sure that as soonas we're ordering everything
that the kitchens are designedaround and then we buy those
appliances right away as soon aswe start love it.
(06:08):
That's probably the biggestprepared and being ahead of the
curve on ordering stuff.
Speaker 1 (06:12):
That way I'm never
waiting for materials yeah, it
makes sense because it's a lotof people don't understand.
But in construction there'sthere's labor, there's materials
, and then there's the time ittakes to actually build the
house.
Speaker 2 (06:29):
And if you can
squeeze the time down, then
that's a better deal foreverybody yeah, I can say two or
three months just on having astoreroom with everything ahead
of time the cabinets, as soon aswe get to the sheetrock stage
you know we've already plannedthem, but they come in and
remeasure them the last rock.
That way they're going intoproduction.
(06:50):
So, planning ahead with theowners, um, the owners
understand I mean it is a customhome and lots of people do make
changes being ahead of time,being overprepared with 3D
renderings, and give the ownerswhat they can that they make
less changes.
Speaker 1 (07:10):
Perfect.
So what are some of the commonmisconceptions about running a
business?
Speaker 2 (07:21):
You have lots of free
time and I, literally, as I was
trying to get my calling, we'reon vacation with my wife.
She is one of the most patientpeople in the world.
I'm always on.
I try to keep it, you knowseven to seven, but everyone
knows I'm involved.
My guys are calling me, askingquestions.
(07:42):
There really is no such thingas turn my.
My dad is helping with thebusiness now and he's he's
sending me information that wayI can help make decisions from
here.
But even when we're gone.
You know we just started a halfa million dollar remodel, so
we're doing remodel, we're tearout and demo right now, and it
(08:06):
was now or never, because nextweek we start two brand new
homes.
So, um, you know he understandsthat my phone's gonna ring and
and she's okay with it.
Speaker 1 (08:18):
Got it, got it.
So what do you attribute yourgrowth to?
Speaker 2 (08:27):
Probably my attention
to detail.
Even as you walk house two,three, four million dollars in
our area After the floor is inand you'll see other guys and
it's the five million dollarhouse and they'll have a corner
around molding between theirbaseboards and the floor and
(08:49):
essentially what that is to meis like they know they missed so
they had to use another pieceof trim to hide it.
Um, board of operation oriented, um not scared to blue tape the
entire house four or five timesuntil it's just perfect.
You know that's it like.
Speaker 1 (09:06):
It's just add
overboard yeah, well, if you're
building high-end houses andattention to detail is super
important, so well done there.
So how do you I mean, maybe youdon't, but how do you balance
personal and business?
Speaker 2 (09:26):
um, my wife's
involved in the business with
that partner.
She goes to work with me somedays um.
I try to um during, even duringthe business day.
You know like I'll go home forlunch um, because we and we live
in the neighborhood, you know Ican pop in the house and and
(09:47):
see her um in between timesshe'll go on on job, uh stops
with me and we're going checkingon things.
She'll ride with me saturdays.
So a lot of sat Saturdays.
She'll go with me to the jobsites and we'll go catch brunch
somewhere and hang out.
And then Sundays is the daythat I'm not available If
(10:08):
somebody calls on Sunday.
So that's the one thing that mydad and grandpa taught me is
work six days a week, sunday oranything.
So you know, in our areathey're not allowed to work on
Sundays anyway, or they're notsupposed to.
They're out on job sites.
But if there's a customercalling me on a Sunday, they're
going to wait until Monday toget a response.
Speaker 1 (10:30):
Yeah, I like that.
I like that.
It's a good plan right Six dayson, one day off for sure.
So what qualities do you lookfor in an employee or a sub?
Speaker 2 (10:47):
punctuality is
tidiness.
I can't stand the subs thatleave a mess everywhere.
So my job site and I just wantpeople to walk in and be able to
see the house at pretty muchany time.
So cleanliness, attention todetail and self-driven.
(11:07):
There are a lot of guys thatneed constant supervision.
Some guys that work for meteach them how to read plans and
understand it.
That way they can helpthemselves without needing it.
So self-motivated, clean guys.
Speaker 1 (11:28):
I like it.
Product yeah Punctual, tidy,detail-oriented and self-driven.
That's pretty good.
So what words of advice wouldyou offer other business owners
who are looking to grow?
Speaker 2 (11:47):
Just step out there
and do a little more than you
think.
You can Hire your family, youcan jump and put you know.
That way, if you're working 60,70, 80 hours a week, at least
it's always being gone.
So even though we work a lot,you know, I'm still getting to
spend time with my wife, my dad,pretty much every day, which is
(12:08):
great.
You know, take the people thatyou already love and put the
time with them.
Speaker 1 (12:15):
I love that you know
most people would say don't work
with your family, but I lovethat you say hey hire your
family.
Yeah.
Speaker 2 (12:23):
Absolutely.
Yeah, my son is the next onewe're going to bring on board.
He's 20, he's like ready to runsomething yet, so and and he
has a good paying job now, soit'll be hard to step in, but
he's he's the next person we'regoing to bring in, and and
that'll be awesome well, yeah, Ithink it's, I think it's great.
Speaker 1 (12:47):
I that'll be fourth
generation then.
Speaker 2 (12:52):
My dad didn't force
me to do building.
He actually encouraged me notto because it is a high stress.
I'm going to do the same thingIf he wants to come in the
family business.
I'm really in trade so he coulddo HVAC, electrical plumbing,
something like that, and hecould have his side of our
company where we hire him to doplumbing.
(13:14):
You college and we really needjust pipe fitters.
I mean everything.
Those are dying trades that wedon't have enough people.
Speaker 1 (13:39):
Yeah, we absolutely
need trades.
I tell any kid that if you'regood with your hands and you're
not suited for an office job anda lot of people are kinesthetic
, in other words they learn bestby doing and those kind of
people they can make a reallygood living in construction, in
the trades in home services,something along that, where they
(14:02):
get to be out and they can makethings happen.
So we're on the same page onthat one happen.
Speaker 2 (14:11):
So, uh, we're on the
same page on that one.
But you can start at a hvaccompany right now in my area no
skill show, 23 bucks an hour.
Oh yeah, they'll teach you thetrade and you know, make it
decent, and then you can go fromthere to you know, starting
your own company.
But it seems like a lot of theguys work for someone else and
(14:31):
do what they're told, and youknow, that's the exact opposite
of me, like I want to go andlearn more and do more.
Speaker 1 (14:40):
Yeah, the only place
that earn comes before learn is
in the dictionary right.
Speaker 2 (14:48):
Exactly.
Speaker 1 (14:49):
Yeah, you got to
learn.
What else would you like totell people about you or your
business, or any advice you'dhave for any other people in
business?
We'd love to hear it.
Speaker 2 (15:03):
I guess don't be
scared to start on your own.
Protect yourself.
Do something that will save.
If something does happen,you're protected.
Make sure you understand yourinsurance policy.
If you do have a claim, youknow you're not out.
So one of my lessons I'velearned is through Galloway
(15:24):
Insurance and just making surethat I had the proper insurance
guy fall through one of framers,uh, fought through a house
about five years ago.
He was missed a step and youknow he was a subcontractor.
He did have his own injury,doubt thinking that you know
this is it for me, because hewas hurt pretty bad and my thing
(15:48):
worked out and it was reallygood to know at that moment that
I was covered.
So just make sure business,make sure you don't just you
know two guys in a truck youknow pay your dues, pay your tax
and have insurance, becauseit's the difference between
going out of business orstarting.
Don't just do it, Do it right.
Speaker 1 (16:11):
Yeah, that's great.
I love that.
Don't just do it.
Do it right, because otherwiseyou're setting yourself up for I
call it an oops in business.
It could be more than that.
It could be something morecritical.
Speaker 2 (16:26):
People work 10 or 15
years and build up their money
and then all of a sudden theyhave a claim or something
happens and that's starting over.
That's 10 or 15 years of yourlife gone versus you know.
Yeah, I pay a year in insurance, but I'm covered.
Speaker 1 (16:45):
Yeah, I believe in
overinsurance.
Yeah, I believe inhaving-insurance.
Yeah, I believe in having toomuch insurance.
It's worth it whatever.
It is not to have the peace ofmind.
So, lastly, what's the best wayfor someone to get in touch
with you?
Speaker 2 (17:08):
Sure, so our website
is Peterson Builders and my
email is info atpetersonbuilderstxcom.
Got it?
If you're starting a businessand need a mentor or just want
to ask some questions, feel freeto drop me an email.
Speaker 1 (17:28):
Perfect, I love it.
I love it.
Well, thanks for this Fantastic.
We appreciate you being part ofthe Epic Entrepreneurs
community and all you're doingout there in the workplace, and
we certainly wish you continuedsuccess.
Speaker 2 (17:47):
Thank you, sir,
thanks for having us hey and
until.
Speaker 1 (17:50):
Can't wait to see.
Yeah, hey, until next time, allthe best.