Exit Rich: Home Service Secrets with Lance Bachmann Everyone Told Him It Wouldn’t Work… Now He’s Disrupting the Trades
From landing in America with $200 and a dream… to building a knife-sharpening machine empire and selling it to a publicly traded company… to now launching iWallet, a cutting-edge payment solution for home service businesses—Jim Kolchin’s journey is packed with grit, pivots, and billion-dollar ambition.
You’ll hear how he made his first million shorting Bear Stearns at 26, why he walked away from a cushy early “retirement,” and what he learned failing a startup after blowing $200K on a Kickstarter idea. Now, he’s setting his sights on disrupting the $100B+ home services industry with a payment platform tailor-made for techs, plumbers, HVAC crews, and more.
He also dives into:
-Why earnouts suck—and how to structure them if you have no choice
-How to avoid being fleeced by GPs and private equity players
-Why iWallet is winning in tradeshow after tradeshow (50+ per year)
How he’s leveraging tips, VIP memberships, and service contracts to help businesses scale recurring revenue
👉 Drop a comment below—what was your biggest takeaway from Jim’s story?
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This episode proves that with enough hustle and heart, you can build a life—and a legacy—from nothing.
Follow my guest at:
-Website: https://iwallet.com/
-Facebook: https://www.facebook.com/iwalletofficial/
Follow me on all Social Media: @LanceBachmann
Exit Rich: Home Service Secrets with Lance Bachmann
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