Nikonomics - The Economics of Small Business

77 - How a Former Marine Built an $8M Landscaping Biz with Nolan Gore

Oct 30, 2024

Nolan Gore, owner of a booming residential lawn and landscaping business with over $7.5 million in annual revenue, shares his entrepreneurial journey. He discusses the emotional highs and lows of running a business and the hard lessons he's learned along the way. Nolan highlights the importance of leadership experience and the challenges of scaling operations. He also delves into the intricacies of acquiring competitors and the crucial due diligence needed in the process. Tune in for an honest look at the realities of entrepreneurship and successful business navigation!

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Intro

00:00 • 2min

The Realities of Entrepreneurship

01:41 • 4min

From Service to Seeds: An Entrepreneur's Journey

05:42 • 6min

Navigating the Entrepreneurial Journey

11:39 • 9min

Navigating Business Acquisitions

20:41 • 7min

Navigating Financing Challenges and Building Banking Relationships

28:02 • 2min

Lessons in Entrepreneurial Transitions

30:19 • 13min

Navigating Envy and Growth in Entrepreneurship

43:01 • 7min

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Join me, Nik (https://x.com/CoFoundersNik), and Nolan Gore (https://x.com/leadershipacad1), who runs a thriving residential lawn and landscaping business. In this episode, Nolan shares his journey, from acquiring his first business to scaling it to over $7.5 million in revenue with 18-21 crews. We explore the highs and lows of entrepreneurship, the challenges, lessons learned, and the emotional rollercoaster that comes with running a business in the home services industry. Nolan talks about making tough decisions, how he navigated acquisitions, and what it really takes to build a successful business. If you're curious about buying a small business or what it's like to operate one, this episode will give you a raw and honest look.

Questions this Episode Answers:

How did Nolan scale his lawn and landscaping business to $7.5 million in revenue?
What are the key challenges in running a home services business?
How did Nolan approach acquiring a competitor and what lessons did he learn?
Why is leadership experience crucial for running a business?
How do you deal with the emotional ups and downs of entrepreneurship?

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Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts.
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This week we covered:

00:00 From Military to Entrepreneurship: A Journey Begins
02:54 Scaling a Landscaping Business: The Reality of Growth
05:47 The Importance of Naivety in Business Ventures
09:12 Navigating Family Expectations and Business Risks
12:08 Lessons from Early Failures: The Value of Experience
15:07 Understanding the Emotional Rollercoaster of Entrepreneurship
18:01 The Art of Hiring: Learning from Mistakes
20:58 Tuck-In Acquisitions: Expanding Through Strategic Growth
25:18 The Emotional Journey of Business Acquisition
28:07 Navigating Financing Challenges
30:32 Lessons Learned from Due Diligence
36:56 Growth Aspirations and Business Philosophy
40:19 The Human Element in Business Management
43:14 Industry Jealousies and Aspirations
47:36 Advice for Future Leaders