135. Launching a Roofing Business to 8-Figures in Year 1, with Cole Simpson

The Freedom Formula Podcast: Achieving Financial, Location and Time Freedom

In this episode, Neel Parekh interviews Cole Simpson, owner of a roofing company, about his journey in entrepreneurship.

Cole shares his background and how he got into the roofing business. He discusses the challenges and lessons he learned along the way, including his experience with franchising and acquisitions.

Cole shares his motivations and goals, and how he approaches business as a game.

Takeaways:

• Entrepreneurship requires risk mitigation and the ability to make asymmetrical bets.
• Experience in entrepreneurship is gained by making decisions and learning from them.
• Focus on growth and revenue in the early stages of a business, and then shift to profitability.
• Consider franchising as a way to speed up scaling and gain credibility in a specific industry.
• Approach business as a game and enjoy the process, while also being a good steward of the opportunities and resources.

Chapters

00:00 Introduction and Background

00:36 Getting into Entrepreneurship

03:27 Franchising and Acquisitions

05:02 Current Business Performance

08:23 Risk Mitigation and Decision Making

10:33 Focus on Growth and Profitability

12:07 Full-Time Commitment

15:10 Franchising vs. DIY

18:01 Motivations and Goals

21:30 Approaching Business as a Game

23:49 Where to Find Cole Simpson: @jcolesimpson