#237 Mike Valchuk of Building Dreams Contracting Inc. from a life of a franchise owner to successful contracting business
Finally have Mike Valchuk, the man, the myth, the contractor on the show and what a show it is. We begin by discussing his 8 years of construction and how during the beginning of the pandemic Mike and his partner Grant O’Neal felt they needed to pivot, shift gears, an idea that will carry through this episode and has been brought up on so many other TCL shows. Mike and Grant decided to seek professional coaching and they have never regretted it. When they realized the business was creating mirrored years and didn’t see sales grow, they knew something needed to be done. Upon doing a little google searching they sourced out two possible coaching business, one in Australia and one in Canada, they opted for the Canadian one, the links are below.
Mike shares some great tips on structuring your business, looking at profit and understanding that $100.00 isn’t what you get to keep, you need to understand what to do with that money and something the younger trades are doing is investing some of that money, building your business and personal equity. Passion vs Profit comes up once again and it will always come up and Mike shares an interesting story speaking to a business coach of his, you better have that passion because this is the hardest industry to be in, he’s right. Clients will use the emotional card to get those extras, to make you work harder for no extra money, that is not right, you have to train your clients on how to behave is what Mike has been taught.
Mike shares his thoughts on Hamilton area and how it has been developing nicely over the years and a lot of people from the Toronto area are moving out there and building, renovating adding to a very thriving industry in the Hammer.
Of course, we get chatting about tools and the Building Dreams Team is mostly red but Mike has an interesting story to share about their SkilSaw table saw with a very interesting ending. Must listen. We discuss the potential recession that could happen and how to prepare your business for it. As we wrap the show Mike shares his history before construction where he was an owner of 4 locations of Pita Pits over 10 years and how he learned so much from the way they ran the business and he appreciated continuing being a student and how he took all of those lessons into construction.
Shared and Discussed Links
https://theprofessionalbuilder.com
https://www.instagram.com/guestplumbing/
https://www.eagleviewconstruction.com
Thank You so much Mike for sharing so much about the industry. Find Mike and Grant his partner at the following @buildingdreamscontracting on IG www.buildingdreamsinc.ca and contact Mike on his email at office@buildingdreamsinc.ca
Want to reach out to Manny, text him on his mobile, 416 433-5737 and or email him at manny@hardcorerenos.com or manny@theconstructionlife.com Please let him know who you are and then ask away.
TCL has and always will be about giving back to the construction industry.