Lessons in Pricing, Value, and Funk, with Chris Lalomia, The Trusted Toolbox (The Price and Value Journey, Episode 121)
In this episode of The Price and Value Journey, host John Ray chats with Chris Lalomia, owner of The Trusted Toolbox, the largest handyman service in Atlanta and in the top three nationwide. Chris discusses his journey from a successful corporate career to entrepreneurship, highlighting the challenges and insights he gained from starting his business from scratch. They discuss the importance of self-awareness, overcoming funks, and the impact of pricing and value on business success. Chris also highlights the significance of mentorship, setting the right prices, and recognizing the value delivered to customers. His insights include the necessity of understanding one’s business costs, process development, and customer relationships, culminating in the personal growth and business achievements he’s made.
The Price and Value Journey is presented by John Ray and produced by the North Fulton affiliate of Business RadioX®.
Chris Lalomia, Founder and CEO, The Trusted Toolbox
Chris Lalomia is the CEO of The Trusted Toolbox. He also hosts the Small Business Safari podcast and is the author of the book From the Zoo to the Wild: Your Guide to Entrepreneurial Freedom and Wealth.
Chris Lalomia is a successful entrepreneur and change leader who has built on his experience working with the largest companies in America to start his own business from scratch. He brings his unique style to leadership to build a culture of professionalism in the blue-collar world of home renovations. He left the corporate zoo, ventured into the entrepreneurial wild and started The Trusted Toolbox: Home Repair and Projects in 2008. YES, he started a business right before the Great Recession, so he admits that timing the market is not his strength. He survived through that time and has grown his business into a multimillion-dollar handyman and remodeling company, which has won numerous awards in Atlanta, GA.
Chris is originally from Jackson, MI, and he uses his hand to show where he lives. He went to college and earned his bachelor’s and master’s degrees in mechanical engineering. His path to business ownership was similar to most people’s journey to their current position… spinning and winding… His first engineering job was at Curtiss-Wright Flight Systems making airplane parts, but soon realizing he needed to add some other business skills to his resume, he joined Accenture and began working with large banks to help them merge, which led him to SunTrust (now Truist), where he transformed the commercial loan operations department… That meandering path led him to leap into starting his own business, The Trusted Toolbox, in 2008.
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The Trusted Toolbox
The Trusted Toolbox is a leading provider of professional handyman services and home remodeling solutions in the Metro Atlanta area. With over 15 years of experience serving over 16,000 homeowners, the company specializes in a wide range of home repair and improvement projects, including kitchen and bathroom remodels, basement renovations, deck repairs, door replacements, and wood rot repair.
Committed to delivering exceptional results with a customer-centric approach, The Trusted Toolbox employs a team of skilled professionals who are fully insured, background checked, and dedicated to ensuring 100% customer satisfaction. The company’s local expertise, efficiency, and attention to detail have earned it numerous awards and accolades, solidifying its reputation as a trusted partner for homeowners in Alpharetta, Atlanta, Athens, and the surrounding areas.
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Topics Discussed in this Episode
00:00 Introduction and Welcome to Chris Lalomia
00:50 Corporate Life to Entrepreneurship
01:29 The Zoo Metaphor
02:44 Challenges of Leaving Corporate
07:27 Mindset Shifts and Skill Development
16:14 Mentorship and Networking
21:52 Pricing Strategies and Value
29:32 Customer Willingness to Pay for Convenience
29:42 Understanding Millennial and Gen X Mindsets
30:49 The Shift from DIY to Outsourcing
33:41 Training Employees to Reflect Company Values
35:39 The Importance of Reviews and Customer Feedback
40:17 Overcoming Business Challenges and Personal Funk
51:53 Future Goals and Business Expansion
54:59 Conclusion and Contact Information
About The Price and Value Journey
The title of this show describes the journey all professional service providers are on: building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire, and trying to do all that at pricing that reflects the value we deliver.
If you feel like you’re working too hard for too little money in your solo or small firm practice, this show is for you. Even if you’re reasonably happy with your practice, you’ll hear ways to improve both your bottom line and the mindset you bring to your business.
The show is hosted and produced by John Ray and the North Fulton studio of Business RadioX®. The show can also be found on all the major podcast apps. The complete show archive is here.
John Ray, Host of The Price and Value Journey
John Ray is the host of The Price and Value Journey.
John owns Ray Business Advisors, a business advisory practice. John’s services include business coaching and advisory work, as well as advising solopreneurs and small professional services firms on their pricing. John is passionate about the power of pricing for business owners, as changing pricing is the fastest way to change the profitability of a business. His clients are professionals who are selling their expertise, such as attorneys, CPAs, accountants and bookkeepers, consultants, coaches, marketing professionals, and other professional services practitioners.
In his other business, John is a podcast show host and producer and owns the North Fulton (Georgia) affiliate of Business RadioX®. John and his team work with B2B professionals to create and conduct their own podcast using The Generosity Mindset™ Method: building and deepening relationships in a non-salesy way that translates into revenue for their business.
John is also the host of North Fulton Business Radio. With over 800 shows and having featured over 1,200 guests, North Fulton Business Radio is the longest-running podcast in the North Fulton area, covering business in its region like no one else.
John’s book, The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices
John is the #1 national best-selling author of The Generosity Mindset: A Journey to Business Success by Raising Your Confidence, Value, and Prices.
If you are a professional services provider, your goal is to do transformative work for clients you love working with and get paid commensurate with the value you deliver to those clients. While negative mindsets can inhibit your growth, adopting a different mindset, The Generosity Mindset™, can replace those self-limiting beliefs. The Generosity Mindset enables you to diagnose and communicate the value you deliver to clients and, in turn, more effectively price to receive a portion of that value.
Whether you’re a consultant, coach, marketing or branding professional, business advisor, attorney, CPA, or work in virtually any other professional services discipline, your content and technical expertise are not proprietary. What’s unique, though, is your experience and how you synthesize and deliver your knowledge. What’s special is your demeanor or the way you deal with your best-fit clients. What’s invaluable is how you deliver great value by guiding people through massive changes in their personal lives and in their businesses that bring them to a place they never thought possible.
The combination of all these elements is quite different for you compared to any other service provider in your industry. Therein lies your value, but it’s not the value you see. It’s the value your best-fit customers see in you.
If pricing your value feels uncomfortable or unfamiliar to you, this book will teach you why putting a price on the value your clients perceive and identify serves both them and you, and you’ll learn the factors involved in getting your price right.
The book is available at all major physical and online book retailers worldwide. Follow this link for further details.
