Gregg Venable - Draaw Studios - Business RadioX ® -

Starting a business is a thrilling journey filled with the highest of highs and the lowest of lows, right? Based on my personal experiences, it’s the WILDEST rollercoaster ride ever…

Returning guest, Architect Gregg Venable of Draaw Studios is dropping some wisdom about his first 9 months as a business owner during this North Georgia Business Radio segment.

Some of the BIG lessons Gregg’s learned:

Hire help sooner than you think you need it
Document your processes (even when you’re crazy busy)
A supportive spouse is worth their weight in gold
Stop trying to do it all yourself
Join a business network – you need those connections

Whether you’re a seasoned business owner or just starting out, this episode offers practical insights and inspiration to help you navigate the exciting world of entrepreneurship.

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Highlights Of The Show

00:01:05 – Starting a Business Journey
Gregg Venable shares his experience of starting his business, Draaw Studio, and the challenges and successes he has encountered along the way.

00:03:05 – Draaw Studios’ Services and Future Plans
Gregg explains the services offered by Draaw Studio, including residential and commercial architecture, and discusses the potential expansion into multifamily projects and other sectors.

00:06:46 – Importance of Communication in Business
Gregg highlights the significance of intense collaboration and effective communication in the design process, emphasizing the need to understand clients’ visions and translate them into tangible designs.

00:11:53 – Lessons Learned from Entrepreneurial Journey
Gregg shares valuable lessons learned from starting his business, including the importance of seeking help and the realization that hiring a committed full-time employee is more beneficial than relying on contract workers.

00:15:10 – Importance of Hiring
Gregg discusses the importance of hiring employees and not trying to do everything yourself. He emphasizes the need to hire people who can help grow the business and free up time for more important tasks.

00:16:04 – The Role of Sarah
Gregg talks about the valuable role his wife, Sarah, plays in the business, handling QuickBooks, balancing the books, and providing operational support. Her involvement has been crucial in lifting the weight off Gregg’s shoulders and allowing him to focus on business growth.

00:17:09 – Supportive Spouse
The conversation shifts to the importance of having a supportive spouse when starting a business. Gregg emphasizes the need for encouragement and belief from a spouse, as well as the necessity for tough love when necessary to push someone to take the leap into entrepreneurship.

00:20:04 – Financial Confidence
Gregg and Phil discuss the importance of running a business by the numbers and the need for financial planning. They highlight the role of a supportive bank in providing financial guidance and strategies for business growth.

00:21:13 – Hiring and Business Growth
Gregg shares his experience of hiring employees and how it has accelerated the growth of his business. He emphasizes the need to view hiring as an investment and a means to leverage higher value activities, ultimately leading to faster business growth.

00:29:38 – Importance of Teaching and Process Implementation
Gregg emphasizes the importance of teaching a system and process to others in a way they can easily pick up, highlighting the significance of efficient processes in business.

00:30:06 – Working on Your Business vs. in Your Business
Phil discusses the difference between working in the business, which involves day-to-day activities, and working on the business, which entails stepping back to make a plan and improve processes.

00:31:49 – Reflecting on Business and Learning
Phil and Gregg stress the importance of taking time to reflect on business, learning from mistakes, and continuously seeking to improve processes and operations.

00:34:10 – The Value of Mentorship and Peer Groups
The conversation delves into the significance of mentorship, peer groups, and structured environments like Iron Forums in helping business owners see blind spots and learn from others’ experiences.

00:39:12 – Freestyle Rap on Business Principles
Phil and Gregg engage in a freestyle rap, highlighting important business principles, including putting ego aside, being honest, and detaching to work on the business.