John Wilson, owner of Wilson Plumbing and Heating and founder of The Wilson Companies, shares his journey of transforming a family business through strategic acquisitions. He reveals the keys to scaling, emphasizing the importance of effective marketing and optimizing team dynamics. John discusses the challenges of integrating new companies and the critical role of cultural fit in acquisitions. Tune in for a rapid-fire session on influential books and insights into balancing work, family, and personal aspirations.
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question_answer ANECDOTE
Family Business and Early Career
John Wilson's grandfather started Wilson Plumbing in 1958, and his father bought it in the 1980s.
Despite growing up working in the family business, John initially pursued graphic design and accounting before returning to the trades.
insights INSIGHT
Inspiration for Acquisitions
John's interest in business acquisitions was sparked by reading books like "Rich Dad Poor Dad" and studying Warren Buffett.
This led him to shift his focus from accounting to acquiring and growing companies.
question_answer ANECDOTE
Scaling Challenges
Growing Wilson Plumbing from $1 million to $3 million was a challenging experience for John.
The company lacked essential systems, processes, and marketing knowledge, leading to a "train wreck" experience.
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What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
The outsider
Colin Wilson
In 'The Outsider,' Colin Wilson examines the psyche of the Outsider through the lives and works of various literary and cultural figures such as Albert Camus, Jean-Paul Sartre, Ernest Hemingway, Hermann Hesse, and Fyodor Dostoyevsky. The book delves into the Outsider's experience of dislocation and his struggle to find meaning and purpose in a world that seems devoid of it. Wilson argues that the Outsider is a metaphysical man who seeks a transcending meaning and purpose for human existence, often feeling isolated and disconnected from society. The book is both a study of the Outsider's predicament and an impassioned call for a new form of existentialism that could provide a satisfying and objective religious understanding of life.
The millionaire next door
William D. Danko
Thomas J. Stanley
The book challenges the common perception that millionaires live in affluent neighborhoods and instead shows that many wealthy individuals live modestly in middle-class and blue-collar areas. The authors identify seven common traits among these millionaires, including being dedicated to a vision, making appropriate career decisions, valuing financial security over social standing, and efficiently spending time and money. The book also distinguishes between 'Under Accumulators of Wealth' (UAWs) and 'Prodigious Accumulators of Wealth' (PAWs), emphasizing the differences in their spending and saving habits.
Buffett
The Making of an American Capitalist
Roger Lowenstein
This book provides a comprehensive and detailed account of Warren Buffett’s life, from his early days to his ascension as one of the most successful investors in history. Written by Roger Lowenstein, the book is based on three years of research and includes interviews with Buffett’s family, friends, and business associates. It explores Buffett’s investment strategies, his long-term philosophy of buying undervalued stocks, and his role in transforming Berkshire Hathaway into a highly successful corporation. The book also delves into Buffett’s personal life and the influences that shaped his investment approach, including his mentor Benjamin Graham and his partnership with Charlie Munger.
Some shops are happy trucking along as a lifestyle business.
And there is nothing wrong with that.
But if you want to grow aggressively, you need to learn about acquisitions.
That’s one of the secrets John Wilson, Owner at Wilson Plumbing and Heating, has learned rapidly growing the family business from its comparatively small roots into a sprawling operation.
What we talked about:
- The secrets to scaling
- How to approach marketing
- How to expand through acquisitions
Check out these resources we mentioned during the podcast:
Toolbox for the Trades 
