Episode 231: Build Business, Demolish Doubt with Derreck Stratton

Story:

What if you could create a $50,000 dollar a year business right out of highschool? And quadruple the amount of money made by your college counterparts in just a few years?

Derreck Stratton shares his experience in the construction and demolition industry, detailing how he went from doing $20,000 deals to 1 million dollar deals.

A few highlights from this interview include:
– How to use your past experiences to generate transferable skills for future opportunities.
– Lessons learned from the military that can be applied to the business world.
– How Derreck grew his business from the ground up to generate millions in revenue.
– Derreck’s top three steps to build your company from his own experience.
– Advice for others to create a company and scale their business to generate more revenue.
– The importance of building a strong team that you treat like family.
– How your team can help you to face tough losses together.
– Derreck’s plan to help others get into the 1.7 trillion dollar construction industry.
– Derreck’s best advice for any entrepreneur out there looking for success.

Guest:

Derreck Stratton is a 31-year-old serial entrepreneur who has spent his life in the construction industry. He worked with companies similar to WR Meadows, working on projects such as moisture cured, waterproofing membrane and concrete waterproofing. It’s fair to say he’s had a lot of experience in the construction industry! Derreck has founded and co-founded six construction and demolition companies which have generated millions of dollars worth of revenue.

Throughout this journey, his construction companies have embraced the latest developments in tools and equipment such as TIG welding equipment. Staying on top of the newest welding equipment and other changes in the construction industry has allowed his businesses to stay one step ahead of the competition.

As an Air Force Veteran who served a tour in Iraq, Derreck attributes his success in the construction industry to his strong sense of duty and service to others, alongside a desire to strengthen the American economy by helping those who wish to build it up.

Despite his zest for business, Derreck’s greatest love is being a father. Derreck is a proud father of three who will be celebrating his 5-year anniversary to his wife Anna this September. Derreck jokes that being a father is much like being an entrepreneur, as you must be a creative problem solver that has an unusually high tolerance for stress and a low requirement of sleep.

Derreck’s most recent business venture includes a Construction Mastermind course that will pave the way for a new generation of business owners in the 1.7 trillion dollar construction industry.

Impactful Quotes:

  • “I’ve learned a lot of lessons. And every single one of them the hard way.”
  • “Attention to detail. Service before self. Integrity first.”
  • “You have to be confident in your work.”
  • “Every deal should be treated as if it’s a million dollar deal.” – Brandon T. Adams
  • “You have to know what you’re doing.”
  • “Cash is king.”
  • “It was a very slow process. A lot of blood, sweat, and tears.”
  • “Be patient. Do good work. Hire help.”
  • “People say you can’t buy time. That’s a lie. You can buy time.”
  • “You need to know where that money is going.”
  • “I run my team like the military. One team, one mission.”
  • “I built my team by having their backs.”
  • “You’ve got to work smart.” – Brandon T. Adams
  • “The thing about gambling is that you can’t control the outcome.”
  • “I’d say we are one of the best demolition companies in the state of Iowa.”
  • “Take the step and move forward. Figure it out as you go.”

Mentions in the Episode

Take Action!

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Connect with Derreck!

By |2017-05-04T10:29:08-04:00May 4th, 2017|Podcasts & Posts|