TBL Episode 80: Maximizing Potential as an Entrepreneur
Tim Petrey is a serial entrepreneur who not only built his own successful business but also helps fellow entrepreneurs do the same. As a CPA, Tim understands the importance of managing the details, and he also knows that there is value in doing what you know how to do and understanding when to outsource certain tasks. During this episode of Today’s Business Leaders, Tim shares this knowledge, along with more actionable advice.
Tim was fortunate to find a mentor in his first boss, Harold. Through this mentorship, Tim learned the importance of hard work and finding balance in his life. Tim and Harold even went on to become business partners, and 10 years later the business is going strong and continues to grow each year. This growth is due largely to the talented team Tim has assembled and the culture they have built.
“What we’re doing isn’t just about [growing each year],” Tim explains. “What we’re doing is about trying to create an environment that people want to work in. They want to work here, and they love their job. When you interact with everyone on my team, you don’t get a grumpy person. You don’t get someone who hates showing up to work every day. You get someone who likes being here, and that shows.”
Understanding the Value of Employees
Tim often sees entrepreneurs just starting out who want to hire great talent but are concerned about the cost. It’s important to spend money correctly, and you want to fairly compensate people for what they do. Good employees are never a bad investment, explains Tim. You will not lose money by hiring a good staff. At the same time, it’s also important to let people go if things are just not working out. It’s not always easy, but sometimes letting people go can be the best thing for everyone involved.
Find a Good Partner
Reach out to Tim via email, visit his sites HP Davis or White Glove Payroll and catch up on LinkedIn. Find out more about Business Marketing Engine, Gabe’s business, and the solutions available or listen to other installments of Today’s Business Leaders.