In this episode, Randy talks with Jim Kaloutas. Jim is an entrepreneur that doesn’t stop learning and growing. This has led to continually grow his business over the last 30+ years. Jim continues to invest in his learning but more importantly invests in his team of people at Kaloutas Painting. Jim believes that if he does a great job caring for his employees, they will do a great job taking care of our clients.
Kaloutas Painting is one of the leading commercial painting and industrial flooring companies in New England, with headquarters in Peabody, MA, and additional locations in Stoughton, MA, Worcester, MA, Nashua, NH, and Providence, RI.
They discuss why entrepreneurship can cause loneliness at the top. It is though you are the big fish in a small town, therefore, it’s important to get around entrepreneurs and people playing the game at the highest level.
As an entrepreneur even though the earning potential of our earning once we make it to a certain level because we get comfortable and stop believing that we can do anymore. When you are apart of a Mastermind group that’s full of business owners, it allows you the ability to think bigger just from being surrounded by people just like you that are doing more than you. It gives you the confidence that “if they can do it, so can you”. It’s important to be proactive about seeking out the challenges facing your clients before they ever realize they have them and provide a solution to those problems to those problems included in your service as a way to separate yourself from the competition. Conversations create opportunities. The more intent full conversations we can be apart of the more opportunities we can create for ourselves and others.
They discuss why you need to get crystal clear on the vitals in your business, the things that move the needle and take immediate action on improving those things as soon as possible. The first place that every entrepreneur needs to start from when investing in themselves is desire! Strengthening your desire is essential to making sure you have the perseverance to break through the struggles of entrepreneurship. When you look at the service side of the business there’s a whole nother level where you can put some kind of a commission structure in place that rewards your workers for also becoming salespeople. For example, if you have a plumbing business, your plumbers can upsell your clients on additional services that they might need.
Ethics in entrepreneurship is super important because some times we come across opportunities that would be very profitable for us if we took advantage of another person’s bad situation, but having your values in place allows you to see that there is more value created from helping that person get out of that situation than taking advantage of them.
This line of ethics almost always ensures that you get more in return than you asked for.
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