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Why I Gave Up Half My Company

📅 October 30, 2026 🎤 Lance Bachmann, Joel Mi

Chapters

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  • 0:00
    Introducing Joel Mi
    Lance introduces Joel Mi, owner of Premium Roofing, highlighting their successful partnership and Joel's rapid business growth.
  • 1:47
    Joel's Background and Drive
    Joel shares his background as a first-generation American, starting in roofing right out of high school, and his deep-seated drive inspired by his immigrant family's risk-taking.
  • 6:44
    The 'Dog Mentality'
    Lance praises Joel's relentless work ethic, labeling it a 'dog mentality,' which Joel attributes to his family's legacy of taking risks and striving for more than just a job.
  • 13:11
    Sacrifice and Profit
    Joel discusses the sacrifices he made early in his entrepreneurial journey and the significant profit growth achieved through his partnership with Lance, exceeding previous annual earnings in just four months.
  • 18:03
    The Partnership Journey
    Joel details his path to partnership, including attending conferences and joining coaching groups, and the challenging but rewarding transition to ServiceTitan before the partnership.
  • 24:21
    Value of Self-Investment
    Lance and Joel reflect on how Joel's initial investment in conferences and coaching led to substantial returns, emphasizing the critical role of self-investment for business growth.
  • 29:00
    The M's Platform Vision
    Joel expresses excitement about the new M's platform, recognizing its potential to build an enterprise-level company and his gratitude for being part of such a special initiative.
  • 35:18
    Giving Up Half the Company
    Joel explains his decision to give up 50% of his company, highlighting the value of partnership, expertise, and growth over retaining 100% of a stagnant business.
  • 55:17
    Lance's Evolution as an Operator
    Lance shares his personal evolution from a great salesperson to a leader, emphasizing the importance of problem-solving, financial literacy, and building strong systems and teams.
  • 1:07:28
    Handling Pressure and Standards
    Lance discusses how he views pressure as a privilege and maintains high standards within his organization, emphasizing accountability and not tolerating complacency to achieve collective success.

Speakers

L
Lance Bachmann
Host
J
Joel Mi
Owner of Premium Roofing

Key Takeaways

✦

Invest in yourself and your business through industry events, coaching, and masterminds; Joel's initial thousand-dollar conference ticket led to multi-million dollar growth.

✦

Embrace risk-taking and a 'dog mentality'—willingness to work long hours and do whatever it takes—to drive hyper-growth and overcome challenges.

✦

Prioritize systems and processes for scalability; transitioning to robust CRM software like ServiceTitan, though initially painful, is crucial for future expansion.

✦

Understand that partnership can accelerate growth; owning 50% of a rapidly growing, profitable business is often more valuable than 100% of a stagnant one.

✦

Focus on revenue growth first, even if it temporarily impacts EBITDA percentage; hyper-growth often requires reinvestment in sales, management, and infrastructure.

✦

Maintain high standards and accountability within your team; do not compromise on expectations, as a dropped standard quickly becomes the new normal.

✦

Cultivate financial literacy and clean business practices from the start to avoid issues during due diligence if you ever decide to sell.

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