Building A $700 Million Empire From Collecting Garbage w/ Brian Scudamore (Founder & CEO)
In this episode, Shamus Madan talks with Brian Scudamore about his entrepreneurial journey, the expansion of The Rubbish Boys, and the role of franchising in business growth. They discuss Elon Musk's strategy of firing and rehiring employees, Brian's experiences on the Oprah and Ellen shows, and Shamus's podcasting journey. They also discuss handling rejection and creating a $700,000,000 business.
Key Points
- Brian Scudamore started his junk removal business at 18 to pay for college and grew it into a $700 million empire, highlighting the potential of youthful ambition and the power of a clear vision.
- Franchising has been a crucial strategy for scaling O2E brands, leveraging a model akin to McDonald's to provide entrepreneurs with a proven playbook and support system for business success.
- Leaders should focus on preserving core team members during tough times and ensure that those who are let go are treated with dignity and given support to find new opportunities, reflecting the ethos that it's all about people.
When Brian Scudamore was four, he drew a picture of himself hauling away junk. Little did he know he'd become a millionaire from doing so. Fifteen years later, he got to work on his idea investing a thousand dollars, $700 for a pickup truck and the rest for some business cards and flyers.
At the time, his girlfriend had an idea to call the local newspaper to tell his story, which made the front page, and in 24 hours, he had a hundred job offers. The business took off, but he wasn't satisfied. He dreamed bigger and did not have the right people in place for the business. So he fired all of his employees, took a piece of paper, and wrote what he envisioned for the future.
Today he is turned that paper into an empire that owns multiple brands, nearing a value of a billion dollars using a franchising model.
Listen to the full story, and if you enjoyed the episode, share it with a friend and tag me on Twitter below.
Twitter of Host (Shamus Madan): @mbitpodcast
Twitter of Guest (Brian Scudamore): @BrianScudamore
Order Brian's book WTF here: https://www.amazon.com/WTF-Willing-Fail-Failure-Success-ebook/dp/B07JXY3823
NOTE: Podcast intro and outro background music on behalf of Superhero (Heroes & Villans) by Metro Boomin.
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Transcript
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