Exit Rich: Home Service Secrets with Lance Bachmann

LB Capital, LLC
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Aug 4, 2025 • 52min

Empire from His Garage — But the Sharks Took Their Cut

Welcome back to the Exit Rich podcast. Today, I sat down with someone who’s not just talking the talk—Chris Lee actually did it! He sold his home service company for $340 million after scaling it from his garage to 1,100 employees in just four and a half years!! We broke down everything most people will never tell you about selling a company to private equity: the brokers who fumble deals, the $42M inventory mistake that cost Chris a fortune, and why “market standard” is often code for “you’re getting played.” Get comfortable, you are not gonna wanna miss a second of this one! I pressed Chris on: -Why most coaching groups are run by people who’ve never exited anything -How wrestling shaped his mental toughness -The difference between playing chess and checkers in M&A -How he lost $70 million by signing the wrong LOI—and what you must know to avoid it -Why debt-leveraged deals destroy growth -The rise of AI in blue-collar business and why those who ignore it are toast We also get real about coaching: why the best advice comes from operators, not influencers, and how his group at Next Level Coaching is building $125 billion in enterprise value by focusing on real-world execution—not fluff. This episode is a blueprint for anyone trying to grow, scale, or sell their business. If you’ve got a seven-figure company and you think you’re ready for eight—listen twice… Follow my guest at: -Instagram: https://www.instagram.com/chrisleeqb/?hl=en  -Website: https://gonextlevelpros.com/home-page  -Facebook: https://www.facebook.com/qboflife/  -TikTok: https://www.tiktok.com/@chrisleeqb  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 31, 2025 • 4min

They Thought They Were Making Money—Then the ROOF Caved In!

Think you’re profitable? Think again. This episode might save your business—before the numbers tell a different story! You guys thought you were making money, didn’t you? Owner of Hail King Professionals Roofing- Landon Stokes along with Cameron are here to expose the raw truth! I sit down with this crew, straight out of Texas, to uncover the real challenges keeping this company—and most other contractors—stuck. They’re sharp, humble, and hungry to grow, but like many business owners, they were facing hidden landmines: subcontractor chaos, budget breakdowns, commission confusion, and the stress of carrying too much on too few shoulders. We break it down like this: -Why subcontractors will eat your margins alive if you don’t get control -The mindset shift from running with heart to building with strategy -How budgeting, systems, and team-building aren’t just buzzwords—they’re survival tools -The power of surrounding yourself with the right people—and why access = acceleration -This is real talk from the trenches. No sugarcoating. No theory. Just two hard working guys facing the truth, making moves, and learning fast. Follow my guest at: -Instagram: https://www.instagram.com/hailkingroofing  -Website: https://hailkingpros.com -Facebook: https://www.facebook.com/hailkingpros  -Youtube: https://www.youtube.com/@HailKingProfessionals -TikTok: https://www.tiktok.com/@hailkingprofessionals  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 28, 2025 • 8min

Why Most Entrepreneurs Stay Broke–Real Secret To Building Success

You can go fast alone—but if you want to go far, you better find your crew. In this week’s power-packed episode, I sat down with my good friend and fellow entrepreneur Doug McCay from Patriot Heating, Air & Fuel Oil in Bucks County, PA. Today, in the shorter but AWESOME episode we dove headfirst into the real challenges business owners often face daily— and we don’t hold back on the truth here… Doug’s running multiple companies, raising a family, and still finds time to weld a pipe if the job needs doing. Sound familiar? Here’s what’s coming your way: -The 3 biggest hurdles every entrepreneur faces—and how Doug’s navigating them while scaling oil, HVAC, popcorn, and tank businesses. -Why marketing isn’t optional—and why you run out of friends & family real quick when it comes to customer base. -What it really takes to shift from operator to true owner—and why staying in the trenches might be killing your growth. -The brutal truth about stress, sacrifice, and those long days that don’t end when you leave the office. -Lance’s honest take on selling his first big company and why the sale didn’t bring the joy he thought it would—but gave him something even better: a business PhD. -A wisdom-packed reminder for every entrepreneur grinding solo: “When their mission becomes more important than your mission, the loyalty ends.” This one’s not just about business. It’s about loyalty, leadership, and learning how to let go so you can finally level up. Because let’s face it—being the boss is lonely, stressful, and messy. But when you learn from guys like Doug, you realize: you're not alone, and there's a smarter way to win! Follow my guest at: -Instagram: https://www.instagram.com/patriotheatingairfueloil/  -Website: https://callpatriotheating.com -Facebook: https://www.facebook.com/Patriotheatingairfuel/  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 24, 2025 • 10min

Roofing Boss Reveals Why 100% Ownership Is for LOSERS

QUESTION FOR LISTENERS: Would you give up 20% of your business if it meant scaling 10x faster? Let us know in the comments.. Be honest—yes or no? Most people guard success like it’s a secret.  Joe Boyd from Elite Roofing? He’s flipping the table and handing out equity. After nearly 20 years in the game, Joe came to the mastermind ready to shift. From insurance to retail. From chaos to clarity. And from control to true leadership.  The result? A roofing business that's about to explode—and a team that’s about to eat. We went rapid-fire in this episode and broke down: -Why holding 100% of a company might be your dumbest move -The real reason order takers can't survive in the new roofing world -How phantom stock deals are the hidden weapon in retention -And what makes this mastermind different from the 10X rah-rah circus We’re not talking theory here.  This is real strategy, from real people, doing real numbers. If you’re trying to build a company that lasts—hit subscribe.  Drop a comment with the one move you’re making next.  Or just tell us how many people at your table are eating with you. So if you’re still trying to hoard the whole pie, wondering why your team’s starving and your business is stuck this episode might sting a little… but it’ll wake you up! Follow my guest at: -Instagram: https://www.instagram.com/EliteRoofing -Webpage: https://eliteroofer.com -Facebook: https://www.facebook.com/mseliteroofing  -TikTok: https://www.tiktok.com/@eliteroofing  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 21, 2025 • 17min

He Did $6M in Roofing Year One—Without Laying a Single Shingle

You ever meet someone and just know they’re built different? That’s what happened when I met Ben Pacheco from Upstanding Roofing out of Houston, Texas. Less than a year ago, this guy was running a hydraulics company. He told me, “Lance, I want to sell this thing and break into roofing.” Most people talk a big game. Ben executed. Fast forward to today…  He just signed an LOI. Eight figures.  And in his first year in roofing, he’s on pace to do $6 million—all retail. In Texas, where everybody says “you can’t.” In this episode, we break down: -How he scaled from scratch using our exact playbook -Why leadership is the make-or-break factor in growth -The real reason most partnerships fail—and how to choose the right ones -Why taking care of your team (and your ex) is part of winning big This one’s powerful—because it’s real. No fluff, no fake gurus, just two business guys talking about what it really takes to build, scale, and sell. If you’re tired of hype and want the truth from people actually doing it—subscribe now. So if you're still sitting on the sidelines, making excuses, or waiting for someone to hand you permission—this episode ain’t for you. But if you’re hungry…  If you’re ready to sell the old story, build something real, and put your name on a win— Hit subscribe, drop a comment, and buckle up. Because this ain't motivation. This is a blueprint! Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 17, 2025 • 1h 39min

Built a $24M Company with This App—Then Fired My Top Rep

I’m just going to say it: if you run an HVAC, plumbing, roofing, or electrical business and still think you're just a home service company... you’ve already lost. You’re a tech company now. Period. In this episode of Exit Rich, I sit down with my friend and business partner Sebastian Jimenez—CEO of Rilla Labs and the mind behind the tech that helped me scale one of my roofing companies to $24M and a mid-8-figure exit in under 18 months.  No fluff. No theory. Real talk. We break down: -Why your #1 sales rep is replaceable by AI—and I proved it -The exact moment I fired my top guy in the parking lot because he refused to use Rilla -How my team used Rilla’s AI game film to go from 18% close rates to over 40% -The real cost of ignoring technology—and how it’s already robbing you -What it looks like to build $3M+ months from zero in under a year -We also get personal—Sebastian shares how he went from doing stand-up comedy to building a VC-backed tech company that's reshaping the trades.  And I talk about why nothing changed in my life until I stopped trying to be liked and started demanding excellence—from myself and my team. This isn’t a typical podcast episode. It’s an inside look at how we’re using AI to dominate markets, train teams faster than ever, and eliminate drama. No gurus. No hype. Just the truth. If you’ve ever: -Wondered why your team isn’t closing more… -Struggled to scale past $3M a year… -Or you’re tired of the same excuses from your sales reps... ...then press play NOW! And I dare you—drop a comment after. Let me know what industry you're in. After this episode, you won’t be able to hide behind “I didn’t know” anymore. Subscribe. Rate. Share. Because if you’re not moving forward, you’re already behind. Follow my guest at: -Instagram: https://www.instagram.com/joinrilla/  -Website: https://www.rilla.com -Facebook: https://www.facebook.com -YouTube: https://www.youtube.com/@RillaMedia  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 14, 2025 • 1h 38min

The Ugly Truth About Digital Marketing No One Talks About

"There's no value to people when you do it for free. But if they pay, they show up, they respect it, and they win." In this explosive episode, I sat down with my guy Michael Stearns from Ascend Digital Agency—and we didn’t hold back! If you’re a contractor, a marketer, or just someone trying to scale your business the right way, this one’s going to hit home. I brought Mike in because the truth is, most digital agencies out there are garbage—and he’s one of the few that actually gets it. We talked about why giving away advice for free doesn't help anyone, how charging top dollar makes clients take it seriously, and what it really takes to grow a business in this space without the BS. You’ll hear how Mike left the safety of a big agency to build something better, why he charges $1,500 just for a consult, and why so many agencies fail once they hit scale. What’s Inside This Episode: Why most digital agencies are “stone cold garbage”—and how to spot a real one Why charging a high price creates more value and commitment The brutal truth about working in silos and why most agencies implode at scale The CRM trap: Salesforce horror stories, Zoho chaos, and the hunt for real solutions The ugly secret behind fake leads and padded reports—and how to inspect what you expect Why Facebook leads are mostly tail-chasing junk (and what actually converts) How Mike uses ServiceTitan, CompanyCam, and AI to give contractors an edge Why your best ability is your availability—and how that applies to marketing, leadership, and life Plus:  The popcorn company story, the $100,000 mastermind that actually delivers, and the life lessons Mike learned from skimming his pool, coaching his kids, and quitting drinking. This one’s packed with gold for any contractor, agency owner, or business leader who’s tired of excuses and ready to grow. Follow my guest at: Instagram: https://www.instagram.com/takeoffwithascend/  Facebook: https://www.facebook.com/michael.stearns.16  https://www.facebook.com/takeoffwithascend  TikTok: https://www.tiktok.com/@ascenddigital  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann **Watch the full video episode on Lance’s Youtube.
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Jul 10, 2025 • 51min

This One Mistake Is Costing Your Business Millions- STOP IGNORING THIS!

He took one frustrated plumber from losing leads to a 20% spike in conversions—overnight! Check it out… If you're spending thousands on leads but still struggling to grow, you’re not alone—and you're probably bleeding money in the one place you least expect: your phone. In this jaw-dropping episode of Exit Rich, I sat down with Brigham Dickinson, founder of Power Selling Pros and the country’s top CSR trainer, to expose why your phone strategy (or lack of one) could be the most expensive problem in your business. Learn the simple, repeatable strategies that scaled Power Selling Pros to coaching over 1,400 CSRs and helping companies like Tommy Mello's generate millions more with the same leads RIGHT HERE TODAY! What You’ll Learn in This Episode: 🔥 Why Your Front Desk Staff Is More Valuable Than Your Top Sales Rep  Forget “busy work”—your CSR is your first sales touchpoint. Hear why businesses that don’t answer the phone (or do it poorly) are leaving up to 60% of their marketing dollars in the trash. 📞 The 90% Booking Rule  Most companies are happy with a 40% call conversion rate. Brigham says: That’s unacceptable. Learn how Power Selling Pros trains CSRs to book 90% of calls, inbound or outbound. 💰 Your Million-Dollar Phone Fix  Use Brigham’s simple formula to calculate how much just 1% more in conversion can add to your topline—and why even small improvements mean millions in revenue. 🤖 AI vs. Humans: Who Wins the CSR War?  Hear the shocking reason why 6 companies that left for AI-based CSR support all came crawling back—and how AI fits into the future of hybrid customer service. 💪 Mindset, Wrestling, and Raising Champions  From cold plunges to Spartan Races and raising a state-level wrestler, Brigham shares his powerful philosophy on leadership by example and how personal discipline translates into business success. 🌍 From Brazil to Boardrooms  Brigham opens up about the life-changing experience of serving a mission in Brazil—and how learning to serve others became the foundation of a thriving business and family life. 🎟️ Plus: What makes the Roofing Conference one of the most impactful events of the year—and why Brigham says it’s a must-attend for any serious business owner. Connect with Brigham Dickinson  Website: PowerSellingPros.com  Schedule a demo and learn how Brigham's team can help turn your CSRs into revenue drivers. 💬 What Do You Think?  Drop a comment below:  ➡️ What was your biggest takeaway from this episode?  ➡️ Are your CSRs doing inbound and outbound?  ➡️ Have you tried AI for customer service—and what happened? 👍 Like this episode?  Subscribe, rate us 5 stars, and share with a fellow business owner who needs to hear this. Your phone lines may be ringing—but are they paying? Follow my guest at: Instagram: https://www.instagram.com/brigham_dickinson/?hl=en  Website: https://www.brighamdickinson.com  Facebook: https://www.facebook.com/BrighamDickinsonPSP/  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann   Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 7, 2025 • 45min

From Sleeping on Floors With a Newborn- Now Selling $30M Companies

Ever wonder what happens when a purebred closer becomes a CEO, a coach, and a millionaire maker—all before 40? This is it... If you gave him $1 and a time machine, he’d come back a billionaire. Victor Rancor’s story is a no-BS masterclass in building, breaking, and booming again. From answering a Craigslist ad with zero HVAC knowledge… to scaling a $60M business… to losing millions throwing conferences… to transforming contractors into millionaires—Victor lays it all out in this raw, brutally honest episode. WE COVER: -Why most home service companies stay broke forever -The $3M acquisition that almost bankrupted him—and what he learned -How he turned a 19-year-old with no experience into a $20K/month closer -Why conferences don’t make money (and how most gurus are lying) -The real reason people fail to grow and exit their business -What it’s like being misunderstood, hated, and STILL winning -And why being a good man behind the scenes matters more than anything This isn’t some guru fluff. It’s straight talk from a guy who’s built and exited real companies, partnered with private equity, and is now helping others do it faster, smarter, and stronger. 👇 Drop a comment—what lesson hit you the hardest?  📲 Hit subscribe—because if you're in home services, sales, or just want to build a real business, you can't afford to miss these episodes. Follow my guest at: -Instagram: https://www.instagram.com/victor_rancour/?hl=en  -Facebook: https://www.facebook.com/victor.rancour/  -TikTok: https://www.tiktok.com/@victorrancour  Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship
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Jul 3, 2025 • 48min

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? 📲 Subscribe now 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 Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:  https://roofconference.com/ December 3-5, 2025 JW Marriott - Marco Island, FL Sign up for a 2 day Mastermind: https://lbachmanncapital.com/mastermind/ Sign up for a free Shop Tour: https://lbachmanncapital.com/shop-tour/ Join Our Coaching Group, the LFG Winners Circle: https://lbachmanncapital.com/lfg-winners-circle/ Follow us: https://beacons.ai/lance_bachmann YouTube: https://www.youtube.com/@lancebachmann IG: lancebachmann Facebook: LanceBachmannOfficial X: @lancebachmann TikTok: @lancebachmann Podcast Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846 Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a Leave us a review! Website: https://lbachmanncapital.com/ LFG #roofing #business #entrepreneurship

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