Torsion Talk S8 Ep80: Top 10 Business Mistakes and Lessons Learned by Ryan Lucia

In this episode of Torsion Talk, Ryan shares his top 10 business mistakes and lessons learned as a home service business owner. From hiring mishaps to focusing on the wrong services, Ryan breaks down how his experiences have shaped the way he leads and manages his company today. Whether you’re new to the business or an experienced owner, these takeaways could save you from making the same mistakes. Stick around for the plus one lesson at the end, and learn how juggling too many projects can impact your growth. Intro and Football Victory Story Ryan kicks off the episode with a personal update on his weekend football victory and how leadership in sports translates to business. Mistake #1: Rushing the Hiring Process Ryan dives into his first mistake – not doing due diligence when hiring. Learn why slowing down and thoroughly vetting candidates is crucial. Mistake #2: Avoiding Industry Insiders Ryan shares why hiring outside the industry brought more professionalism and trust to his business, cutting down on theft and bad habits. Mistake #3: Delaying Leadership Development Discover why Ryan wishes he had invested in leadership development sooner and how it’s impacted his team’s growth and cohesion. Mistake #4: Prioritizing Door Sales Over Service Ryan reflects on why focusing too much on door installations led to more overhead and stress, and how a service-first approach would have brought in better cash flow. Mistake #5: Starting a Commercial Department Too Early Ryan explains why his early foray into commercial garage doors was a mistake, and how it negatively impacted cash flow. Mistake #6: Ignoring Financial Micromanagement Get Ryan’s take on the importance of scrutinizing every financial detail, from vendor invoices to expenses, and why it’s key to business success. Mistake #7: Waiting to Create SOPs Find out why creating Standard Operating Procedures earlier would have streamlined operations and improved training for new hires. Mistake #8: Risky Growth Decisions Ryan shares his experience taking big risks for the sake of growth and why a more measured approach would have been better. Mistake #9: Focusing on Revenue Over Profit Why chasing revenue can hurt your bottom line, and how focusing on net profit helps sustain long-term success. Mistake #10: Waiting Too Long to Stand Out Learn how Ryan’s decision to differentiate his business from competitors by focusing on high-end projects helped shape his company’s future. Plus One: Starting Too Many Things Ryan’s final lesson on juggling multiple projects, how it spread him too thin, and why you should focus on fewer, high-impact initiatives. Closing Thoughts and Upcoming Events Ryan wraps up the episode with reflections on the lessons learned and teases upcoming events like the Virtual Door Dealer Conference. Tune in to this insightful episode to learn from Ryan’s mistakes and make better decisions in your home service business. Find Ryan at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://garagedooru.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://aaronoverheaddoors.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠https://markinuity.com/⁠ Check out our sponsors! Sommer USA - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://sommer-usa.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Surewinder - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://surewinder.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Stealth Hardware - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://quietmydoor.com/⁠