200 - Mastering Entrepreneurship & Building Your Business Empire with Michael Girdley

The Cash Flow Contractor

What's up Cashflow Contractors! Celebrate our 200th episode with us as we dive into the brilliant mind of Michael Girdley. From growing and leading his own company to building a business empire, Michael shares gems of wisdom that every entrepreneur needs to hear. Trust us, you don't want to miss this one!

Time Stamps

• 01:36 - Intro to Michael Girdley
• 04:51 - Building a Construction Empire
• 05:25 - Core Behaviors vs. Core Values
• 08:29 - Defining & Hiring A-Players
• 15:08 - The Challenges of Hiring Friends & Family
• 16:31 - Embracing Offshore Talent
• 26:21 - Running a Holdco
• 32:17 - Hiring a CEO to Run Your Company
• 37:15 - Living the HoldCo Entrepreneur Life
• 40:38 - The Role and Value of a Board of Directors
• 43:58 - Incentivizing and Structuring a Board
• 46:09 - When to Consider Forming a Board
• 48:25 - Navigating Acquisitions
• 51:56 - Acquisition Challenges
• 58:09 - The Intricacies of Hiring CEOs
• 01:00:42 - Different Types of HoldCo
• 01:02:53 - Practical Business Wisdom from Michael Girdley

Quotable Moments from Michael Girdley

• "Don't do a formal board until you absolutely have to. Don't waste time with formality unless you really feel like you have to do it. Find that stuff the other way if you can. Because boards are a lot of work."
• "One of the problems with human nature is we'll take people problems and we'll try to throw a system at it, or we'll take a system problem and we'll try to throw people at it. And it's easy to just get really screwed up there."
• "Never underestimate the power of an enemy, real or imagined to motivate a company."
• "I'd rather be in a great business with a mediocre team than a mediocre business with a great team. The market wins every time."
• "This idea of the genius with a thousand helpers or genius with 12 helpers - a lot of businesses run that way. And if you wanna sell your business someday, you need to figure out how to run your business as a real business and not as 12 glorified assistants, which I see happen a lot."

Learn how you can improve your customer and project workflows! BOOK YOUR FREE 30-MINUTE STRATEGY CALL HERE!

More from Michael Girdley

• Girdley.com
• Acquisitions Anonymous Podcast
• Near
• Scalepath
• 65 Things You Should Never Do in Life and Business
• 9 Systems Every Business Needs
• The Complete Holdco Course

More from Martin

• theprofitproblem.com
• annealbc.com
• Email Martin
• Meet With Martin
• LinkedIn
• Facebook
• Instagram

More from Khalil

• benali.com
• Email Khalil
• Meet With Khalil
• LinkedIn
• Facebook
• Instagram

More from The Cashflow Contractor

• Subscribe to our YouTube channel
• Follow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)
• Visit our website
• Email The Cashflow Contractor

Resources

• Need Marketing Help? We Recommend Benali
• Need Help with podcast production? We recommend Demandcast