Bragging about Success
We love to brag on you. We love to hear your stories. We love to hear how you're winning. It's not just about the money, it's about the journey. It's about the success. It's about the fact that you're doing something that most people can't do. And when you do that, it inspires other people to do the same thing.
So, if you've got a story, call us and tell us about it. We'd love to hear from you.
Business Success Story Unfolds
Stanton is with us in Atlanta, Georgia. Hi Stanton, how are you?
Stanton: Hey Dave, how are you doing?
Dave: Better than I deserve, what's up?
Stanton: Not much. I'm a general contractor here in Atlanta, Georgia. My business started four years ago and last year we did over $16 million in sales with a net profit of $1.5 million. This year we're on pace to do almost $30 million with similar margins.
Dave: Wow! That's incredible.
Stanton: I'm 37 years old and we focus on commercial construction, including K-12 renovations, additions, municipal work, and self-storage facilities.
Dave: So you've grown from $2 million to over $30 million in four years?
Stanton: Yes sir.
Dave: That's incredible! What do you attribute this to? How did you pull this off?
Financial Success Details
Stanton: Well, I've been in construction my whole life. I worked through college and studied civil engineering. When I graduated, I had about $20,000 in student loans and that's when I discovered your show and your principles.
I paid off my student loans within the first year after graduating and became debt-free. Then I paid off my house and now I have four children.
I think the biggest thing is just following your principles from your book and your podcast. And then also caring for my team and taking care of them as well as I can.
Dave: You know what? That's a big deal because when you take care of your team like that, they become loyal to you and they become very productive for you.
And so many people miss that part of the equation. They think they're going to be tough on their people or they're going to be cheap with their people or they're going to be mean to their people or whatever it is they think they're going to do - but it doesn't work.
You've got to take care of your people if you want them to take care of you and that's what builds a great company culture.
So congratulations! You've done an amazing job!
Advice on Developing Key Leaders
Stanton: Thank you! One of my key leaders has been with me since day one and he's been doing an amazing job. He's really stepped up into his role as a leader within our company.
I'm trying to figure out how to develop him into a direct report for me so he can help me run the company as we continue to grow.
Do you have any advice on how I can develop him into that role?
Mentorship Strategy for Leadership Development
Dave: Yeah! You need to start mentoring him beyond his current role and start giving him some of those responsibilities gradually over time.
You don't want to give him all of them at once because it will create political whiplash within the company if he starts acting like he's the boss before he is the boss.
But if he starts taking on some of those responsibilities gradually over time - maybe even some of them unofficially - then he can grow into that role without creating political problems within the company.
So just start mentoring him beyond his current role and start giving him some of those responsibilities gradually over time.
Conclusion and Praise for Business Success
Dave: Congratulations! You've done an amazing job!
You've done an amazing job with your personal financial discipline and an amazing job with your business success as well.
I'm proud of you! Keep up the good work!
It's amazing what someone like Stanton can achieve through hard work and smart leadership.