Sam Leslie Shares Debating Selling His Plumbing Company
Apr 26, 2024
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Sam Leslie is a plumbing business owner who navigated the tumultuous journey of deciding whether to sell his company. He shares his comedic reflections on balancing work and family life with seven kids while tackling financial strategies and market trends. Sam delves into the emotional rollercoaster of entrepreneurship, discussing the impact of mental health and self-awareness. Plus, he offers insight into the complexities of hiring and fostering a positive work environment. This candid chat highlights the quest for fulfillment beyond conventional success.
Sam Leslie's journey reflects the struggle between selling a business and nurturing it, driven by personal fulfillment and employee well-being.
His focus on operational improvements and employee satisfaction led to increased efficiency and a desirable work environment despite challenging market conditions.
Deep dives
The Decision to Hold On
The conversation highlights the internal struggle of deciding whether to sell a business or hold on to it. Sam, the business owner, initially considered selling his plumbing and HVAC company due to feeling overwhelmed and beaten down after a difficult year. However, his wife Bridget's strong intuition and concern about past experiences, where Sam faced depression after a previous sale, influenced him to reconsider. This led to a deeper reflection on his goals and the value of purpose in his life and company, ultimately deciding to focus on nurturing and improving his business instead of selling.
Operational Improvements and Employee Satisfaction
Sam discusses significant operational improvements made in his company, focusing on tightening procedures and enhancing efficiency without sacrificing the autonomy of his employees. By adopting new strategies, the company thrived despite a decrease in leads, highlighting improved average ticket values and effective cross-selling techniques. He emphasizes the importance of creating an appealing work environment to retain talented employees, planning perks such as better pay, quality uniforms, and even recreational vehicles for employee use. This focus on employee satisfaction not only aims to build a loyal workforce but also positions the company as a desirable place to work within the competitive market.
Psychedelic Journeys and Self-Discovery
Sam shares how his experiences with psychedelic retreats have contributed to his self-awareness and clarity in life and business decisions. These experiences helped him recognize the underlying motivation behind his actions—his need to feel essential and involved in the business. He learned that creating bottlenecks to feel needed was counterproductive to both his well-being and the company’s growth. This realization allowed him to step back and empower his team while still contributing strategically to the company's future.
Redefining Success and Future Goals
In reflecting on his journey, Sam acknowledges the need to reassess his original aspirations of growing a massive service company and find fulfillment in the success he has already achieved. He recognizes that true satisfaction lies not solely in financial metrics but also in achieving personal goals related to family and well-being. Sam articulates a vision for future growth while prioritizing employee happiness and a healthy work culture. By moving towards a more balanced approach, he intends to create a sustainable business that thrives without sacrificing personal fulfillment.
Sam Leslie, @samtleslie on X, bought a plumbing business in Boulder, CO a few years ago. He shares the roller coaster he's been on as operator wanting to sell, then creating the ideal business for him and his team. Plus Sam is a hilarious open book with the audience.
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