Our CEO Mike Rorie had the privilege to be interviewed by Domenic Chiarella during the Snow Snow Millionaire Secrets Summit this week. They discussed how Mike got his start, how the industry has changed, and of course the ONE thing Mike wished someone told him when he started his business.
If you missed Mike’s day at the summit, Domenic plans to put some materials together that we will be sure to share on Facebook and Twitter in the weeks following. Until then, here are five takeaways from Mike’s day at the summit (Mike’s responses are in the gray boxes). Be sure to read this post to the end where we have a special request for you!
How is the industry different today than it was when you were first starting out?
There is just as much opportunity I believe as there was 35 years ago, but it’s not going to be easier than it was then because things are tighter. Costs are higher against margins, available labor is always going to be a challenge…healthcare is a bigger burden for everyone in the country, but particularly for small business.
These are bigger obstacles. They can be managed, but they are not going to be ignored and they are going to be very costly. So you really have to think through those and be articulate about how you are going to overcome them because they are not going to be easy to overcome.
Do you have tips for the next generation?
For young people especially, the path I would tell people would be…do the internships, go to work for people and see how their company functions. Make notes as to what is so dysfunctional, as well as what is so unique, what makes them successful and special. Especially if you are going to enter a family business.
The opportunity to go see other people’s places and work there is a great leg up.
Do people need mentors?
All people need to be coached, but especially young people. People who are a generation ahead of you have experience, and you can’t get experience without time. The way you can gain an advantage is by someone experienced short cutting what you are going to take a long time to figure out.
There’s no question, a coach, a consultant, a mentor, somebody that has been where you want to go, that has the correct experience, that has good insight, that can communicate well, that is invested on your behalf is the cheapest thing you can find to associate with.
How did you build your company and your team?
It really, quite simply gets down to do you have the people with the passion, commitment and trust to stand that post and operate that business (a branch location) like you operate the first one; with the same empathy and same care for the client, the business succeeding, and taking care of people under our management policies?
That’s the ultimate growth vehicle.
What is the ONE thing you most wish someone told you when you first started out?
Probably the single biggest thing I would be certain I was doing is I would get in a benchmarking group. Get in a group where you are going to discuss the block and tackle, and the challenges that we all face where you will be benchmarking how you are doing and you’re accountable to one another.
We heard Mike’s take on these topics, but now we want to hear from you now. Please let us know if you agree, disagree or have something to add to the questions and answers in this post. If you have a question for Mike, please feel free to leave it here too!
We want to hear from you about:
- What are the major issues the industry faces?
- What advice do you have for the next generation?
- Who your mentor is and why?
- What is the ONE thing you wish someone told you when you started out?
- Anything else you want to share!
We look forward to hearing from you!