On today's episode of Gathering the Kings. That's a pretty good feeling too to be able to know that you're helping to provide for not just your family, but you know, 20 other families out there that are working for you. Right? It's a pretty special thing. You are listening to Gathering the Kings with Chaz Wolfe. Featuring fellow 78 and even 9 figure business owners who have real battle scars from business and life but have prevailed as the king that they are designed to be.
We welcome high performing entrepreneurs to the stage in order to reveal the reel of the reel. On what it takes to build a successful business today. We dissect the good and bad decisions they've made along the way Chaz give a true and accurate picture assess and how you too can get there. Through this dialogue, you will learn the value of growing your network and surrounding yourself with power players and keys like today's guest. Grab your pen and notebook because we're about to dive in.
What's up, everybody? I'm Chaz Wolfe, gathering the king's podcast. Today, I've got Matt fix on the king stage. My brother, how are you? I am great. And and you? It's Monday, and I love Monday. Mondays, we get to recharge and and and start all over again. At least at least for me, I always love getting started again. What about you? You like Monday? For sure. For sure. Mondays, I always say I look forward to Monday, but then there are pretty crazy days in my world on those Mondays.
It seems like that's the busiest day of the week. Right? Yeah. And and then everything kinda tapers off there and through the end of the weekend. So but it's a great day, and it's a very per lots of production happens, and it's it's good. So Yeah. Well, I'm glad that you squeezed us in on your busy day of the week just to add some other value to other entrepreneurs. Tell your story, ma'am. Excited to get to know you here a little bit, but first, tell us what kind of business that you have, man?
Yeah. So I own a fire sprinkler company and a fire alarm company, started in 1999, with the fire sprinkler company. K. Fire alarm company began in 2004, and lots of stories there with that piece, which we probably won't get into today. I hope that maybe is for another cover station, but That was some slight direction there. I'll take it. No big deal. Yeah. Yeah. Yeah. So but but they go hand in hand, which is really great.
So that's helped to kind of build that piece of of building up that that jump, right, from the from the 6 to 7 figure. Or Yeah. Right? Yeah. I'm sure. Yeah. And and maybe we can get into that part of it because I'm sure that was probably fairly strategic, but seems like they they are 1 and the same, but obviously very different customers. Which would be me, me, my guess. That's correct. Okay. Well, before we jump into your story, business, tactics, tax, and all that fun stuff, Excuse me.
Let's talk about you. Why? Why are you doing this? Why why did you start the company? Why fire? What's the bigger picture? Like, give me the give me the ins and the outs. Alright. Alright. Well, so, you know, growing up as a kid, I watched my dad. He was an entrepreneur. He owned service stations. So I was really lucky to to work with him and kinda see how his journey went. And it kind of inspired me.
And as I was coming through and everything, I I landed in in I wanted to become a firefighter, and I tried really, really hard to to get into that firefighting Wolfe. And and it didn't work out for me as I thought when I went to a firefighter 1 academy, did a bunch of training, tested at a lot of different departments and never found my way into that service. And so during that time period, I I ran into the fire protect fire sprinkler 3, which is contracting essentially.
We installed lots of fire sprinklers in in large apartments. I work for a contractor out in California. Kinda learn the trade. That's where I kinda got my love for it and then felt a real sense of kinda doing the same thing just a little bit different. Right? Protecting people and property and and getting some really great satisfaction out of knowing that that's going on, but not doing quite the firefighter thing. So it it kinda went it worked out really well.
And and so it's taken obviously, it's taken me on this 20 plus year journey to where I'm at right now, which is which is really great. So So I I'm hearing you say serve, protect, kinda like this greater, a hero, mantra, almost, but is that Is that really what it is for you? Is that is that just a part of it? Like, when you think now at this stage, because you've been doing it 20 years, you're ultra successful. Why do you keep doing it? Is maybe a better way to say.
Yeah. And I think the thing that drives me is that I feel real sense of wanting to contribute to the community and Help to grow, Danny, specifically the trades. I feel a real draw to wanna help people to learn those trades. We there's there's a large gap out there of tradesmen. Not a lot of folks are jumping into this this world as it were anymore. A lot of schools of high schools aren't doing trade things necessarily anymore. There's no auto shops and things like that.
Or if there are, they're a lot different than they were back in the day when I was going through them. So that hands on piece, I feel like, is missing a lot. And so we run an apprenticeship program flow fire protection for all the guys that are coming in so that we can help to train them in the right way.
And, hopefully, those guys can make that transition in into the into this world into into some ownership potentially down the road and be able to kinda take things over and and move on in that regard. So that sense of just again, feeling like I can contribute and help folks to learn and and be be excited about trades anymore. Yeah. There's several you've got several of mountains that you're that you're conquering. I I love it.
What I what I'm what I'm picking up the majority of all that you're saying, all these different facets, it's really, you know, what we talk about inside of Gathering, the king's mastermind, it's this transition from warrior to king, said it several times here on the podcast as well, but it's, like, that moment when you start to think, I wanna really serve the community or I wanna be able to change the industry of trades or how people think about
it, all of those things are you positioning yourself to be an influence to more than just you, which is fine. It it didn't it like, there's a period of time that we all go our business where we have to kinda just dial in just to us and build it. That's right. But eventually, we get to this place where it's gotta be more. It's gotta be That's right. And, I mean, yeah, I've been in it for quite a while. 20 plus years.
So I get a lot of I get a lot of junk mail, probably like a lot of other business owner too. Sure. Hey. You've you've got an exit strategy, or are you looking to get out those kinds of things? Right. I I those pretty much find their way to the trash at this point because I'm still very highly motivated to stay involved with this and and to kinda see it through, if you will.
The other exciting part of the trade is The other piece that I really enjoy is the technology piece and how things have changed for our industry and and some of the newer products that are coming on board that have been really exciting, and and it's it's neat when you're in something long enough to start to see those changes. And I know I talk about that and of course, in the computer world and things, things change seemingly overnight.
Whereas construction, the fire sprinkler is pretty much same as it was back in the 1800. We've improved a few things. It's essentially the same piece. It's it's a device that goes off with heat and and puts water out. Right? It sprays water. Yeah. The same it's just kind of the same technology. So it's so to see new things coming on board is really exciting too. And to be in the position, starting way back when and coming into this new technology era is really fantastic in that regard as well.
So I love not piece of it as well. I can imagine that that that brings a whole level of of just interest, excitement. As as long as you have an open mind, I think that this happens in every industry. Right? Every decade or 2 or 3, some major change or in in our case, usually technology at this point.
But you can look back 50, a 100 years and And the guys that didn't change or grow or or change with the times, as I say, or develop the technology, which is what we call it now, but they just kind of eventually went away.
And so I love that you have an open mind around technology in an old, old space, I think that there's a lot of industries that are being disrupted with technology, and and it's the open mindedness that will not only further Chaz, but also allow for us to be successful inside of that. Would you would you add anything with that? Yeah. And definitely. And I think the thing about it as well is that in in kind of it's it's a tough thing to break into the to break the old into the new. Right?
And Right. And there are there's a lot of resistance sometimes. People are afraid of change. Right? We all know, and and there's some great resources out there to help understand that change and to help change people's minds to move into those different changes. And so Yeah. This new technology that comes on, it does have some resistance.
It does have some older guys that have been in the trade for many years saying that's not really the sprinkler system and and it doesn't work and this and that when it's proven that it Chaz. But but, you know, that's, again, being able to bring new guys on board, put them through that program. And, hopefully, by them seeing myself get excited about these new things and be open to trying them. And and let's face it. Some things we try and we fail at. Right?
And they don't work out as well as we thought they would. Yeah. And some things that we try work out really well. So it's it's, again, take it's being a risk taker to a certain degree as well. Right? We everybody in business knows that at one point or another, we're taking some risks whether we to think that or not. And it's about how big that risk is, alright, and how you manage that risk sometimes is how the outcome of it turns out.
So Yep. So but this new technology piece that comes in at these guys, I really want them to open their eyes, and that's part of that change changing that industry in that regard. Right? So, hopefully, I'm a groundbreaker in that regard. I don't know. Yeah. Maybe not, but I think I think that you're you're definitely along the right path, but the the mindset or the identity of of an industry disruptor is one that for sure is willing to take risks for one trying new things.
Everything that you just got done talking to us about. So Whether whether the listener finds themselves to be an industry disruptor or they're just trying to provide a business for their family. I mean, where whatever their level of engagement is, I think that it's pretty inspiring to hear guys like you that have this burning desire on the inside to change an entire industry because you could go home and sleep tonight without changing the industry. It would be just fine.
But somehow, some way you've been you've been created in a way to have this this thing inside of you that wants to see change in that way. And so I think it's pretty special. Pretty cool that you that you haven't identified as well. I wanna transition to your story. Like, how did you, like, you you talked about being a firefighter and then got industry experience. Why did you start a business though? Why not just work for somebody else? Like, how did entrepreneurship come into your life?
Yeah. Well, that's, again, I'll go back to Dad and and seeing his journey. Yeah. It really inspired me. And so when I moved here to Colorado, and went to work for the company that I was working for at the time, they were a heating and plumbing operation. And so, like, at one point, they wanted to get back to their core roots. To just that plumbing and heating piece. And and so the fire division, they decided that they wanted to move on from that. So here's my opportunity. Right?
That opportunity. We all there there's I'm a I'm a firm believer that we there's opportunities swinging around us every day. Seriously. And it's just whether or not we're in the right space to take that on, right, to see that opportunity. Sometimes we can't see those opportunities because maybe we've got a lot of other things happening, right, and and things going on. We miss a lot of opportunities. Right? Yeah. Every day. And so this is just one of those pieces where it all aligned.
I recognized the opportunity, and I thought, this is my chance to give it a shot. Yeah. And I wanna try it. I think that I could be successful at this. There's also that whole piece of just because you're a good technician doesn't make you a good business owner. Right, or businessmen. And and so and we'll I can address that momentarily, but I saw that opportunity I was very open with the business owners that I was working for. And I I asked them. I said, hey.
Would you guys mind if I started my own company? They were very open to that. In fact, they sold me some of their equipment that they had for the business, some some materials that they had stored up and things of nature. So they were very open to the whole idea. So it really just flowed from their business kind of into my hands and and it kinda mind to mess up. Right? Because all of a sudden, I had this piece. And I was like, here I am.
And I've got all this client base, and I'm already doing some work, and got great contacts, and and it really took off at that point. So that's that's kinda that's the story of how we came from Matt, worker, Matt, to owner, Matt, and and just, again, recognizing that opportunity. Yeah. Well, you're right. And not only do the Zip does the opportunity training come all the time.
And and you took a different spin on it because for me, it's, man, I well, I don't see them all, but I see a lot of them. And so it's just, which one should I get? Like, I just, like, I'm I'm I'm constantly trying to jump on the next one. And, but for a lot of entrepreneurs, you're right. Ones that maybe aren't hyper aware or they aren't dialed into whatever they're trying to get to. So you got these two ends of the spectrum.
One guy that he's calm down, realize that not every opportunity is for him. Bear with me. Still is, probably. And then the other guy who's missing it Oh, you got stuff happening every day, and you're just so he's either dialed into the work or he's not paying attention. He doesn't know what he wants, so he doesn't have clarity. And then just opportunities zoom zoom right on by. So I think that between the two of us, we've given them a really good perspective on on maybe where they fall.
What would you say to the guy that you're talking about who maybe is missing these opportunities? How does he enlighten himself to these opportunities like you did? Yeah. And I I that is a good question. I I I don't know that I have the crystal ball to answer that because everybody's so different, and in their world and and what they have going on at the time in their world. Right? Yeah. And so I would just because a lot of things have to happen. Right?
We've gotta have a little bit of gotta have a little bit of money on the side that we can invest in this sometimes. Right? Maybe we don't have that at this time, and that's what limits us from jumping on maybe in a a one that an opportunity that we see Right? Yeah. Maybe we we've got a lot of family life happening and things going on that just are distracting us from that. And so it's really tough to say Hey. Here's what you need to do in order to see that. Right?
But I'm sure there's some good books out there about focus and about trying to see what you wanna do in life and do things like Chaz. But it's just really it's a moment to yourself where you realize at that particular moment in your life that, hey. This is This is a real deal, and I have a great opportunity here. And I think that's just unique to each individual of when the when that particular moment happens for them. And maybe for some, it doesn't ever.
Yeah. Maybe like yourself, you you're able to recognize those all the time and see them going by and when when do I jump on, which is wonderful because you're maybe more in tune in in your world. And that's the other thing too is just exposing yourself to some different pieces, right, different folks.
That that kind of networking piece of of getting out there and and meeting other business owners, other people that have had experience with things to also help park that idea and keep you focused, keep you keep your blinders on so to speak so that you can get to where you wanna go. Yeah. I I think that you've said it well. I think that it whether you're on, and they they can both be either a blessing or a curse. Right? And and there's benefits or cons to both.
I love what you said there all about in essence, we find what we're looking for. And so in that moment where you're telling the person, whether it's because they had family stuff going on or They were busy with whatever. That that was what they were looking for in that moment. So they maybe missed the opportunity, or maybe you were networking, creating opportunities to meet people, which then opened you to opportunities.
So my my kinda next follow-up question to you specifically around this this moment had you been looking to be owner, Matt, or was it just something that kinda just was subconscious because your dad was an owner? Give us the deep thought there. Yeah. Wolfe, and that's that's a great thing. And I I've often thought about was was that the path I was really looking for at that time? Was it just something I wrecked? Knives and thought, hey. I need to do this.
I think there were a couple different motivations when when the division closed down, there were some guys that went to work again for another company I wasn't really hot about going to work for another company at that point. And and so there were some other external motivations Chaz, for me, anyways, that kinda drove me into the into that ownership piece and saying, hey.
I I can do this and and having that confidence and that and my abilities to be able to do, but it certainly something Chaz, I don't know, maybe you could say I kinda fell into it, but at the same time, it was something that I was open to taking on. Right. So, yeah, very interesting piece there. And and and I've I've often thought about that. Gosh. Did I do the right things?
I see some other folks, and they're they have some different things happening in their world that I don't know if they're better than what I've been able to build or simpler or I don't know. But Yeah. Yeah. You wonder if your vehicle is is the right vehicle sometimes. I I think that's very That's right. So Very honest.
Me, though, I'm I it's it's a it's a decision that I made that I'm I'm I definitely feel as though I did the right thing for myself and my family and Erin, but it's it's provided for us. It's It's helped the community. Like I said, I I look back at how many employees we've had over the years and and all the different folks that have been involved and how they've been able to make a living from what I produce. Right?
What I've what I've built, these guys are making a a a living and That's a that's a pretty good feeling too to be able to know that you're helping to provide for not just your family, but, you know, 20 other families. Out there that are working for you. Right? It's a pretty special thing. So so that ownership piece, it's it's morphed over the years for sure. Yeah. And for sure. And For sure. Okay. Let's go let's go into the weeds here, Matt.
I wanna know of a good decision that you made specifically maybe early on before you hit the 7 figure mark. Something you did that you just repeat over and over again, something that we can learn, we can replicate. Yeah. So, I mean, some of the I was I was thinking about good and bad decisions that we I've made, not thinking about some of the bad stuff real quick. And I Chaz honestly say, I don't know that I looking back.
Like, I don't feel like I've ever made a truly bad or a poor decision that's ended in in the tragedy or something that was irreversible. I've made some decisions that are maybe questionable, or maybe I wish that I wouldn't have done, but, yeah, I wouldn't call them bad decisions. They're just part of that learning curve of being an owner. Right? And and so But on the good decision side, I think one of the best things that I did was was to invest in myself, right, and invest in the company.
And that was in 2008, I I was encouraged by a contractor friend of mine to to build my own building, own my own piece. And for me, that was a big transitioned. I had been renting in a space before, which gives you some legitimacy as a business. Right? And and so now all of a sudden, I've built this piece, and I own it. My company is in this building, and it's all of a sudden, it really legitimist made the company real.
And we had a space and a place and and and not only Chaz, we invested in in the company. Right? And and so now we have an asset. Which is really big. Right? A lot of people build companies, and they really don't have any assets. Right? They don't have anything to the company. Maybe they have a company list, a customer list, that you might be worth something. It may not be worth something.
It depends on lots of factors there, right, as far as whether people hang around if you get sold or if they leave. Those kinds of things. So so, yeah, so having something tangible like that that you can feel, you can touch, you can walk into every day and be proud of is really really important for a business I feel and and real special. And, yeah, I I would that that's probably one of the best decisions that I really ever for I I love how you how you've connected it specifically to the trades.
This this would apply to any business. But specifically, your love for the trades and as I'm thinking of some of my clients that are in the trades or masterminding the group members or just people that I know friends. And you're right. There's this legitimacy, or there's this authority that comes, even if the customer never knows that you have a building. Your team knows and the way that you operate out of that, it turns it from a guy in a truck to a business. That's right. Like that.
And that it it doesn't have to take that to do that. You could you can make that transition without the building for sure, but, man, the building is a pretty strong king move when you think about these things that we do to build up, not only ourselves, but our team and our our business, the way that the community sees us, but the the legitimacy of it, as you were saying, it just took it to a whole another level in your own mind first. Yeah. Exactly.
And at that time, it was I didn't know it was gonna be Chaz risk as it was, but you know what happened in 2009. Right? But we all know about that. So building this brand new building just about a year before and then moving in and having that crash happened. It was touch and go. It was a little dicey. I took the risk, and and now now I gotta pay the piper. Yeah. So we were lucky enough to make it through that, obviously, and and pretty Wolfe, but but it was scary.
And so that's the other thing that I would encourage other other entrepreneurs, don't be afraid of those. You're gonna have to take some risks and you and you and you may fail and you probably will fail at some point. But gotta stay on top of it and keep moving forward all the time. Just keep that dream going and eventually it's going to come. So just like for me, the building getting encouraged and to take that risk and to jump.
I kind of I I equated a lot of times, like, jumping across a stream. Right? You jump rock to rock. Right? But pretty soon you get out there and and that other rock looks pretty far away. Do you make that jump? Do you want you don't wanna fall in? But you gotta make that jump to get across the stream. And so it it's it can be risky some time to be open to Chaz. Hey, Kings and Queens. Chaz Wolf. I wanna talk to you about something that's super important to me. We put a lot of time and effort.
We, meaning myself and my team, into this podcast into the content that goes out every single day. And if you have been getting any sort of value or insight from this, we want it to be able to reach other business owners too. So we would love if you would like, comment, share, leave a review, post, share again, all of the things. On social media, on all the different platforms, or even on the podcast mediums of Apple and Spotify.
We would love to be able to our content into more hands, more entrepreneurs so they can grow their business as quick as possible. Together, we are building a community of like minded entrepreneurs who are committed to growing their businesses to new heights. So let's do this. Let's help each other. Let's help each other grow. A 100%. I think that's such a great analogy too because we've got cross straight. We know exactly what that feels like. Some rocks are dry.
Some rocks are a little slippery. Some stick out a bunch. Some stick some are a little wobbly. There's all these these words or pictures that we can paint and it's, man, you're so right. It's not a clear path. It doesn't just necessarily mean we take three steps and we're over for person looks a little different. The strategy might be a little different. The time of year when the streams flowing might be different.
Like, there's just so many factors but the encouragement behind there is what I wanted the listener to really take away from is that there's gonna be risks. There's gonna be things that we press into, like building a building in 2008, And as soon as you said that, I hadn't said it yet Chaz far as the what happened after that, but I was thinking, wow, what a time? Yeah. And someone might be thinking that right now. They might be thinking, literally, they're listening right now.
They just built a building. And here we are, end of 2022, about to go into 23. Recession is all over the whiteboard, and and they're going, how do I how do I deal with this? And, and, really, the dealing. Of course, there's tactical things you gotta do to keep on it like you said, but it's the mindset that you gave us of you just gotta keep going.
Because now I I bet now looking back 12, 14 years ago at that decision, I've I'm sure that not only has that added to your confidence in your team, but to your net worth. No. Absolutely. Without a doubt. Yeah. I mean, again, Stock market's great, but real estate is real. Right? Like, it's not just a it's not a computer screen with a bunch of numbers on it. You can go there. You can sit on it. Like I was saying earlier, you can go touch it, feel it, walk into it every day, be proud of it.
So highly recommend that piece if if that's the path that folks are taking or looking at. It's, yeah, don't don't hesitate to to jump on that and get it get it done. Yeah. Buy that piece of property, buy that space, Get yourself established. It you'll you're it'll pay for itself ten times over. Yeah. It's good stuff. Now I know I know you you deflected a little bit on the bad decision. You said that you you've rolled them into learning opportunities. And so I agree with you. 100%.
The mindset is spot on. I love it. I want you to give me an example, though, one of those decisions where you're like, maybe it didn't work out so good. Give us the nitty gritty of it. What what happened? Oh, man. Yeah. It's funny. I mean, I just again, it's so hard for me to go back and think about what where I've maybe made a poor decision. I I guess we all surround ourselves in business, hopefully, with people. I'm not an expert at, say, insurance. I'm not an expert in in taxes.
So we hire these professionals Yeah. To help us to be successful sometimes. Right? And we gotta be able to understand that that's just cost. That's a cost of doing business. Right? That's right. We all have to do that. So I've been really lucky to surround myself with a lot of good folks And so I had a friend one time in the insurance industry. Nice guy.
And I got talked to moving from an insurance guy that I was with who was taking really good care of us for a better deal, you know, less premium and we're trying to trying to think about the company and do the right things and and save money where we can and so on. And and so we move I'm I decided to make the decision to move to a different company. And so it it just really it did not work out very well at all. There was lots of coverages that were missing for my industry.
Well, things of this nature that weren't disclosed to me when we when we signed the dotted line, it was just a real mess. So needless to say, we ended up going back to the insurance guy that we had been previous Yep. Kinda licking our wounds and saying, sorry. Please take us back because I made this mistake. So Yeah. But I think that's probably one of the one of the The poor more one of those poor decisions. It was at the end of the world? Absolutely not.
Was it something that was super detrimental? Nah. But, you know, it was it was a decision at the time Chaz was definitely weighed on me, and it was, gosh, we don't have coverage for this, and we're engaging in this. And I always say if you wanna play, you gotta pay And that's insurance. It's one of those things we all don't really like, but we're thankful when we when we have to use it that it's Aaron available to us.
So, anyways, that's probably one of the ones that is sticks out the most over the years as far as just poor decision. Yeah. I think we can all relate to the vendor or really whether it's insurance or whatever vendor that we're working with, and we try to we like you said, just do the right thing by helping the company, a lower cost, and and sometimes those those things come with, a lower price tag because the quality or whatever. The relationship isn't there. You're not well taken care of.
Whatever the scenario is. And so, I'm glad that the other guy welcomed you back. I'm sure he had no problem welcoming you But, actually, from a super practical standpoint, insurance, here's for the listener. Insurance is actually a really big deal. And this happens all the time where you've got another guy that comes in and appears to be cheaper.
And all that they've done is just remove a bunch of coverages that either they don't think that Chaz you need and or they don't even know about themselves. And so it's very much a you have to make sure it's an apples to apples comparison. So I think although you were trying to really give us something high level as I've detrimental, I actually think that that's super practical because every business needs it, and not every policy is created the same.
And so what a great great example of something that the listener can go do to sure that they they're doing the right thing for their business and for their client, for their team, because all that matters in those moments when we don't really want them, we pay for the insurance hope that we don't need it. That's right. That's right. Exactly. We're gonna transition to the speed round here, Matt. I wanna I wanna know inside of your business.
I know you got a couple different divisions, but But if you could only pick 1 metric to choose Chaz to track forever and ever, what would that one metric be? Yeah. It'd probably be I don't know. I would I I think about the balance sheet a lot. Right? Yeah. It can tell you a lot about your business. Chaz those total current liabilities and total current assets, that ratio is really an important one to look out for and and to keep an eye on.
And and I think that's probably the one I'd I'd look at the most. Okay. Specifically, the rate ratio between balance sheet and ratio. Yeah. Yeah. That's an important ratio to keep an eye on. What does that tell you? When you look at that, let's say the ratio is not good versus good, what what does that make you then an operator, go do or decide or take action on? Yeah. Well, so at at that point, if if I do see something that looks a little suspicious, I'll go back and start looking at like, hey.
What what are our profits looking like? What what are we spending our money on? I'll go back and kind of look through the balance sheet and kinda see, hey. What's happening here? Where where are expenses going? And sometimes maybe that's an inch increase in insurance premium that costs a lot, or maybe a good example here currently is fuel. Right? If you have a company that has a fleet, that fuel cost has skyrocketed, and that can that can that can skew those numbers quite a bit.
So I'll go back and try to find some justification for what I'm seeing on that balance sheet. And then, obviously, like in the case of the I think a lot of companies here recently got caught in or I know that we did a little bit, but we had especially in construction where you bid projects out. We bids we had some bid numbers out there and some projects. It's very hard as a subcontractor to go back and renegotiate sometimes.
Sometimes that that provision isn't in contracts and things, and and they hold you to your number. And so we we all know what's happened with material costs initially here recently on the past year and a half or so. Material costs have gone sky high. Right? And so if you got stuck in those contracts at at the rate that you were bidding at prior to that without kinda looking advanced to see what was actually gonna happen. You're taking it up.
You're you're gonna take it in the shorts, and for lack of a better word or phrase. And so that's we found ourselves a little bit in that situation this past year. It didn't luckily, for us, we were able to make the we were able to recognize it fairly quickly and say, hey. Wait a minute. We've gotta we gotta do something here. We so, obviously, our numbers client came up to to meet the current dollar amounts for materials and labor and things like that.
So but that's so those are things all the the that balance sheet and that and and the, you know, Wolfe tell you, right, and and give you those things to look at. Yeah. Tactically, to be able to go in and operate and adjust. That's right. What I'm hearing you say. And you gotta be able to do that. And I again, as a smaller company, it's small to midsize, I guess. You might say for our region, it we have that flexibility, thankfully.
And a lot, sometimes these larger companies that we see that end up going out of business, sometimes that maybe they don't have that flexibility to be able to to scale up or scale down quickly and and make those kinds of changes. So Yep. So I'm really fortunate with that as well. Yeah. Exactly. K. What resource or maybe book would you recommend for a small business owner trying to grow? Yeah. And that's a great question. There are a lot out there, obviously.
I I go back to the one that kinda started my whole journey, which was who moved my cheese. I don't know if you've ever Yeah. Seen that book. It's a pretty simple read, but, but it it really helped to inspire that entrepreneurial ship and and that those changes as life was changing, right, and Yeah. For me. So I don't know. That's one. I know that's kind of an early stage, Warren, but that's definitely one that I would I would look at if Chaz was That's a great book.
What, Matt, do you feel about intentionally networking or masterminding with other entrepreneurs? Yeah. I think it's it's really important, as I mentioned before, building that team around you and then using that team. Right? Don't just break. Don't just hire that that insurance guy. Or the tax person, right, or an attorney, use hire them and use them, help bring them into your company. I don't wanna if you have a board, some company develop boards and things.
Obviously, those are designed to help the company succeed, and you need to really utilize those folks. Right? You need to really go to them and talk with them, bounce your ideas off them. Let them tell you that you're a little crazy or that, no, this isn't a good idea or things like that. I I feel like that's yeah. No. It's it's really important to do that for sure. Yeah. I have 2 thoughts on that. My my CPA often thinks that I'm crazy, but I kinda carry it as a chip.
I'm like, Chaz long as I can make this guy go, what the heck is this guy doing? Then I feel like I'm in the right lane at least. And then the second piece is to your point around the board, or around hired vendors. Step 1 is putting the right people around you. Step 2 is using them. I just think that's such a unique distinction. It so simple, but so profound, as I say.
But a lot of people don't find the people or don't connect with the board or a mastermind group or whatever, And even the ones that do, then don't utilize or don't press into bringing those relationships into the business.
And that's my encouragement to anybody that joins our our mastermind group, but it's the same, as you just said, with vendors and even your team, or if you have a board, all those if you Chaz press into not only finding them, but then bringing them in, utilizing the scenario, you get what you what you put in, in essence, is what you're saying. That's just such a it's it It elevates the game to another level because most just don't. Would you agree with that? Yeah. I think so.
I think a lot of guys, like, we like you said, Wolfe bring somebody on board, but then maybe not think about calling them to ask them the question Right. Those kinds of things. And I and early on, I had I had a lot of great guidance from some general contractors that I was working with. I became very close with several of the general contractors, and and it was always I could always call them up and say, hey. What do you think about this?
Or I'm thinking about doing this and and what are your thoughts on that and just get their take, and then I can develop my own ideas and and process based on their responses. You don't necessarily have to do exactly what they say because maybe that's not gonna work for you, but certainly taking those pieces putting them together in the puzzle and then adding and then finding your puzzle piece to drop in there creates it. Right? And I think that's just I think it's it's it is genius.
It's It's the way to go. It's the way to go. Well, you've heard it here, folks. A mat says that if you wanna be a genius, you surround yourself with high quality individuals and You utilize Chaz. I appreciate that. That's right. Alright, Matt. Nice. Yeah. Exactly. That's the utilization. Which is okay. Like, now we're just talking about principle. Right? It's the same thing when you go to a conference. Same thing when you read a book. It's the same thing.
If you just do the one thing without putting in an action or utilizing it, what did you even do it for? Right. Right. That's exactly right. We're really talking about a pretty core belief actually, of action taking and and why did you even go to begin with to the whatever, or why did you have this relationship And so the utilization of it is it's the hard work. Right? It's just like when you think about any relationship, think about marriage.
Like, the easy part was putting a ring on it and doing the wedding. That's right. But it's it's all the things that we do afterwards that then build out whatever it is that we're working on. Yeah. And it's the same core principle that are associated with all. And I think and we're probably all guilty of it too, Chaz, of not of not doing that. Right?
I it appears the tough thing Chaz a business owner too is over the years, sometimes I will I have some great ideas for the business or what have you. And I have a I have a staff. Right? And sometimes I'll throw an idea out there hoping that maybe one of those staff members picks it up and runs with it. Right? But when that and I've been bit many times like this because I've done this. Throwing these ideas out. And because Chaz business owner, you're busy.
You've you've got a lot of different hats you're wearing. You're doing all kinds of up, and you might not necessarily have time to go and do those things. Right? So you toss that out there in hopes that someone picks it up and runs with it. But then what what comes back to bite you is the fact that Wolfe, yeah, Matt said he was gonna do this, but it didn't happen. Right? And and they've missed it completely. Right. They missed that.
We were talking earlier about opportunities and things coming across the board, but you're kind of you're kind of planting that opportunity out there for someone to run with, but, unfortunately, they weren't in that listening state to actually pick it up and run with it. So now because it didn't happen, it it falls back to you as your fault. And and so sometimes things have happened like that for me anyways. Totally.
Yeah. Well, especially as visionaries as idea factories, at least at least I'm an idea factory. They'll they'll just they just come all the time. And so I've had to I've had to curb the idea appetite for for sharing. I can I can still have them? They're gonna come to me naturally, but I can't I can't I gotta be careful on how I throw them out, when I throw them out, or the direction of throwing them out. Sometimes it's literally not throw it out there, see what happens. It's, hey.
I need you to do this because I've learned sometimes where it's just, oh, that's just that's just Chaz. He just has another idea today, which is true, but now I'm creating this this environment of this idea factory, but we don't do anything about Right? Right. Right. To your point, we don't want that. I don't want that. I don't want that as part of my identity, nor as what someone thinks of me. And so yeah.
It's so funny that you went there because I don't know if I've ever had anybody else articulate quite like Chaz. And and that hit me right right here. Yeah. Well, it's the let's see. That's what 20 years of business ownership gets you. It Chaz well, you look at it. Yeah. Yeah. Exactly. You you're able to look back on a lot of things, but even specifically, the way that we, I guess, share the vision, the way that we parlay the communication, all of those things matter.
I got one last question here for you, Matt. I wanna know your 20 plus years in business. You stumbled into this industry per se. I wanna know if you had a chance to whisper in the younger matt's ear. What would you say? Don't do it. No. Run. No. No. Not at all. I would say follow your dreams. Whatever those might be and and see it through. Try the bet do the do whatever it takes to see it through to the other side. Yeah. I mean, honestly, that's what I would say. It's good. It's good stuff.
K. Matt, how can the listener find you? Maybe they they're in Fort Collins need to connect with you via your services, or, they just wanna connect you as an entrepreneur, pick your brain. How can they find you? Sure. The website's a great way to look us up and get our address and things and phone numbers and contact information. And that's wflowdashfire.com. Is where they can reach me there. And we're on Instagram, Flow Fire Protection Inc. They could reach out to us there as well. So perfect.
We'll put them in the show notes. That way, they can easily connect with you. You have been, not only inspirational, but but this was a this was a joy. You made me laugh quite a bit today. I laugh. I laugh. I like joy, but, man, you Chaz me rolling today. So I really appreciate you. Appreciate you sharing too, man.
Just from your from your vulnerable perspective of your your story, I think that, the listener, if they were paying attention today, they got plenty And we just wish you absolutely nothing but success and blessing on your family and your business and all your things you have your hands into. Yeah. Well, thank you very much. I appreciate being on the show. Thank you. Thanks for being here. Thank you for listening to Gathering the Kings today.
I hope that you were able to pull out a few nuggets to go apply into your business right away. More importantly, though, I hope that you're realizing that it takes more to be successful than just being by yourself doing it all on and multiple different industries and now interviewing over 2 or 300 other very successful 7, 8, and 9 figure business owners is Chaz It's tough to do it alone. And so gathering the Kings exists to bring together successful entrepreneurs.
In fact, we are putting together 1000 kings, specifically who are grateful, but not done. We're intentionally assembling kings who fight tooth and nail for their business, family, and communities, and here's what we believe Chaz in the pursuit of excellence in those areas, that it ignites within us the responsibility to govern power and forge a lasting legacy.
So if that relates and and resonates with you, and you know that you need people around you, sharp, qualified other very successful business owners. I want you to go to gatheringthekings.com. Want you to take a look at what we're doing and see if it makes sense for you to be part of our pursuit to 1000 kings. Talk soon.