Are you looking to accelerate profits and growth to enjoy more success?
Success leaves clues if you know where to look and what to ask. The host of The Deep Wealth Podcast and post-exit entrepreneur Jeffrey Feldberg speaks with entrepreneur Nick Lopez whose business is creating a market disruption.
At just 19 years old, Nick Lopez started his first painting company. Every summer during his college years, he painted homes to help pay for tuition, books, and living expenses. Through this experience, Nick discovered a passion for painting and understood that he had potential for a future in the industry. He decided to focus on owning a company in the painting industry that raised the status quo.
At the young age of 19, Nick Lopez launched his first painting company. As a college student from Denver, Nick needed a way to pay for tuition, books, and living expenses. He decided to paint homes during summer breaks. Little did he know, this would soon become his passion.
In his third year of running the painting business, Nick had a realization. He could see a future in the painting industry and decided to focus on owning a company that raised the standards of the industry. Nick began Lime Painting, the first national luxury painting company in the United States. He shared his story with Jeffrey, saying, “The light bulb went off, and I realized that the past three years of painting didn’t have to be my last. I saw a future in the industry.”
Nick realized the painting industry had a major gap. Customers with custom homes wanted to pay more for premium quality services, but there were very few companies meeting that demand consistently. Nick identified this lack of quality and decided to position his company in the luxury market.
Nick Lopez: “Customers owning custom homes want to pay more to get more, just like they do with their homes, cars, and the restaurants they visit. But they struggle to find such options in the contracting space. I saw this gap as an opportunity and decided to position our company to meet this demand. Our focus on consistent, high-quality service and a strong company culture has been our competitive advantage.”
Training, Consistency, and Competitive Advantage
Jeffrey Feldberg: “Nick, how are you ensuring consistency across different locations when a customer calls or wants to become a customer?”
Nick Lopez: “It goes back to really good training and certifications. Having a culture of excellence means doing things the Lime way. Consistency is crucial for a strong brand, and we ensure this through our field coaches who act as business coaches for our franchise owners.”
Nick emphasizes the importance of a strong training program and a disciplined approach to maintain high standards. This includes role-playing, team evaluations, and regular certifications.
Nick Lopez: shares that daily team huddles, weekly meetings, and standardized agendas are part of the EOS method, helping Nick and his team stay focused and aligned with their goals.
Execution is crucial when it comes to turning a great strategy into reality. Nick shared with Jeffrey how implementing the Entrepreneurial Operating System (EOS) has been a game-changer for Lime Painting. He stated, “It’s an operating system called EOS, Entrepreneur Operating System. And you can check out the book, Traction, written by Gino Wickman.”
Using EOS has helped them get the business down to objective data and the data that matters. It allows the team to prioritize and project manage effectively. Nick described the system’s impact, saying, “It keeps you on track, keeps you organized. It allows you to prioritize and better project manage.”
Nick believes that having a standardized process is key to their success. He shared that providing a consistent, high-quality experience to customers was essential. Nick explained this by saying, “We’re providing a standardized solution for our customers. We know that what we’re doing has never been done before. We’re pioneering the industry and making history.”
One of the ways Lime Painting ensures this consistency is through rigorous training and certification programs for their team. They renew these certifications regularly to maintain a high standard of excellence. “It goes back to really good training, right? And certifications and renewing those certifications, having a culture of excellence,” Nick said.
This commitment to excellence has set Lime Painting apart from competitors and allowed them to grow and thrive in the industry.
Balancing Work and Personal Life
Jeffrey Feldberg: “Nick, what do you do to relax and recharge?”
Nick Lopez: “I’m a father of four and work from home. We have an au pair who’s like a family member. My wife and I just went to Cancun with two of our kids for an annual conference. Business is a legacy thing for me, and I hope my kids will take an interest in it one day.”
Work-life balance is important for Nick. He enjoys golf, fishing, and traveling. He believes in the value of hard work but also makes time for family and relaxation.
For Nick and his team, creating a positive culture is just as important as strategy. Nick values creating an atmosphere where culture is intentional and prioritized. He recounted, “It’s the way in which we choose to do business. That is infectious, and it’s organic.”
He believes that a strong company culture helps in retaining talent and ensuring customer satisfaction. “We’re in the people business, and that value is absolutely culture,” Nick stated. He explained that this focus on culture is their competitive advantage and what makes them special in the marketplace.
Learning Through Adversity
Jeffrey Feldberg: “Looking back on your success, what strategies have really moved the dial for you?”
Nick Lopez: “It’s all been about keeping the faith and seeing challenges as opportunities. Entrepreneurship is a personal development course, constantly showing you where you need to get better. I would tell my younger self to think even bigger, no matter the circumstances.”
Nick’s journey has been one of constant growth and learning. He encourages maintaining a positive mindset and seeing adversity as an opportunity for growth.
Every entrepreneurial journey comes with its fair share of challenges and successes. Jeffrey asked Nick about what strategies have moved the dial for him on quality, growth, and profits. Nick shared that his journey has been filled with adversity, but he has always seen it as an opportunity.
He imparted wisdom to budding entrepreneurs, saying, “I think over time, I’ve gotten a better understanding that it’s not just about adversity; it’s opportunities, strategy, execution, and fun. Entrepreneurship is a personal development course, constantly showing you where you need to get better and how you need to operate better.”
Nick’s advice to his younger self? “Think bigger. I would tell that former self to think even bigger.” He believes in keeping the faith and staying optimistic. “It’s all been prayer for me, all the adversity, all the challenge, all the unknown. For me, business has been no different.”
Final Thoughts and Advice
Jeffrey Feldberg: “If a listener wants to reach out or have your company paint their home, where’s the best place to reach you?”
In wrapping up, Jeffrey emphasizes the importance of subscribing to the Deep Wealth Podcast for more valuable insights from industry leaders. Each episode offers strategies, stories, and expert insights designed to help entrepreneurs grow their profits, increase business value, and optimize their lives.
Nick’s story is a powerful reminder of the impact of passion, dedication, and a constant pursuit of excellence. As he continues to innovate and lead in the painting industry, his journey inspires aspiring entrepreneurs to think bigger and keep the faith.
Every entrepreneurial journey comes with its fair share of challenges and successes. Jeffrey asked Nick about what strategies have moved the dial for him on quality, growth, and profits. Nick shared that his journey has been filled with adversity, but he has always seen it as an opportunity.
He imparted wisdom to budding entrepreneurs, saying, “I think over time, I’ve gotten a better understanding that it’s not just about adversity; it’s opportunities, strategy, execution, and fun. Entrepreneurship is a personal development course, constantly showing you where you need to get better and how you need to operate better.”
Nick’s advice to his younger self? “Think bigger. I would tell that former self to think even bigger.” He believes in keeping the faith and staying optimistic. “It’s all been prayer for me, all the adversity, all the challenge, all the unknown. For me, business has been no different.”
Thank you for reading, and as we love to say here at Deep Wealth, may you continue to thrive and prosper while you remain healthy and safe.
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