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A Canadian-born entrepreneur lost 40m in 14 months, was once 3 days from going bankrupt and now owns the biggest junk empire worth $400m+
Here’s his story
Here’s his story
@BrianScudamore was 18, in the McDonald’s drive-thru, confused about how he was going to pay for school when he saw it…
A beat-up pick up full of old bikes, a hand-painted sign, “MARK’S HAULING.”
The next day, Brian bought his first truck for $700...
A beat-up pick up full of old bikes, a hand-painted sign, “MARK’S HAULING.”
The next day, Brian bought his first truck for $700...
That was the beginning of a new venture, “The Rubbish Boys”
Even with a genius tagline, “We’ll stash your trash in a flash!” Brian only made $1700 his first summer.
But soon, things started to flip…
Even with a genius tagline, “We’ll stash your trash in a flash!” Brian only made $1700 his first summer.
But soon, things started to flip…
Brian was in class getting calls from customers non-stop on his giant Motorola cell phone
No vibrate function. Just ringing during class.
A good sign nonetheless.
Brian was ready to leave school and go full-time on his venture...
But first, he had to face his dad...
No vibrate function. Just ringing during class.
A good sign nonetheless.
Brian was ready to leave school and go full-time on his venture...
But first, he had to face his dad...
Brian’s dad was a type an academic, a liver transplant surgeon, a type-A guy - and he had to go up to him and say, “I’m learning more about business by running one.”
So he did and then tripled his fleet.
By 1994, they had 5 trucks, 11 people, and half a million in revenue.
So he did and then tripled his fleet.
By 1994, they had 5 trucks, 11 people, and half a million in revenue.
Business was profitable.
He had bought a house by 24.
All seemed great.
But he HATED going to work…
He had bought a house by 24.
All seemed great.
But he HATED going to work…
Work was toxic. The environment was toxic. The people were toxic.
He didn’t enjoy them and they probably didn’t enjoy working with him.
So he fired the whole team - all 11 people
In search of finding the right people to build the right team, he know one thing...
He didn’t enjoy them and they probably didn’t enjoy working with him.
So he fired the whole team - all 11 people
In search of finding the right people to build the right team, he know one thing...
That the next day he was completely screwed!
That next day the office was a ghost town.
5 trucks with one person and no call center.
Brian was filling every single role for the next few weeks, until he was able to hire his first new employee.
Why?
That next day the office was a ghost town.
5 trucks with one person and no call center.
Brian was filling every single role for the next few weeks, until he was able to hire his first new employee.
Why?
Brian wanted to bring on people who he’d have fun and enjoy working with - someone who would treat customers the way he envisioned.
So he did…
So he did…
That’s when things really started to turn around for Brian and “The Rubbish Boys”
Things started to take off in the right direction...
Things started to take off in the right direction...
They really started to scale based on their vision, values, and never compromised on the quality of people.
This equated to hitting huge milestones…
This equated to hitting huge milestones…
Between ’95 and ’98, they doubled to hit $1m in revenue.
Brian figured if he could run this in Vancouver as a 1M dollar business than it’d prob work in other markets in North America that had at least a million people...
Brian figured if he could run this in Vancouver as a 1M dollar business than it’d prob work in other markets in North America that had at least a million people...
So Brian dropped the name “The Rubbish Boys,” moved to a franchise model, and started building and scaling million-dollar businesses in every single market in North America
To no surprise, it worked…
To no surprise, it worked…
Business started booming.
In ’01, they were at $9m with only four franchises.
’02 came around and they reached $16m.
By ’03, they hit $34m.
2004 entered the room and they were at $54m.
In 2005, they reached $70m.
By 2006 they hit $106m in revenue.
In ’01, they were at $9m with only four franchises.
’02 came around and they reached $16m.
By ’03, they hit $34m.
2004 entered the room and they were at $54m.
In 2005, they reached $70m.
By 2006 they hit $106m in revenue.
Eager to grow and take things to the next level, Brian had to make a decision he thought would catapult the company.
Brian and his COO agreed to part ways after an amazing run (still good friends)
His mentor introduced him to a new COO candidate with an all-star pedigree...
Brian and his COO agreed to part ways after an amazing run (still good friends)
His mentor introduced him to a new COO candidate with an all-star pedigree...
That’s when the recruiting began.
Her experience spoke for itself: former US president of Starbucks with 30k employees.
He imagined the potential and possibilities if she was brought on board
So Brian worked tirelessly to recruit her
And he did...
Her experience spoke for itself: former US president of Starbucks with 30k employees.
He imagined the potential and possibilities if she was brought on board
So Brian worked tirelessly to recruit her
And he did...
Then fired her 14 months later after going on a 5-week vacation to Italy
What happened in Italy during his first-ever long vacation?
Nothing
But back at the office, a lot happened.
He didn’t recognize his team. The new COO had changed everything...
What happened in Italy during his first-ever long vacation?
Nothing
But back at the office, a lot happened.
He didn’t recognize his team. The new COO had changed everything...
Revenue had dropped to $80m - $40m less than when this new COO started.
While arguing about strategy, growth had stalled, and now they were on the verge of bankruptcy.
Brian questioned himself, his leadership, his decisions, and his ability to take the business to the nxt level
While arguing about strategy, growth had stalled, and now they were on the verge of bankruptcy.
Brian questioned himself, his leadership, his decisions, and his ability to take the business to the nxt level
Brian turned to his mentor who challenged him to evaluate himself, to believe in his own vision, and to question whether his COO believed in him...
He realized his mistake was that he didn’t spend enough time getting to know his COO, to see if she could really work with not only his strengths but his weaknesses too.
So, less than a year and a half in, Brian let her go...
So, less than a year and a half in, Brian let her go...
It’s now 2008.
They’re on the verge of bankruptcy.
He feels like everyone in the company had turned against him.
Brian had to bring in a board member to help execute on the plan from the lawyer’s office.
He felt that the team didn’t get it. Any of it...
They’re on the verge of bankruptcy.
He feels like everyone in the company had turned against him.
Brian had to bring in a board member to help execute on the plan from the lawyer’s office.
He felt that the team didn’t get it. Any of it...
Laying off leadership teams the COO had built while trying to get the team to trust his lead.
But he promised to hunker down and rebuild.
It took time but eventually, Brian got his team to trust him and understand.
But he promised to hunker down and rebuild.
It took time but eventually, Brian got his team to trust him and understand.
With that, they slowly built back up and got back on track.
Not without learning from failure tho...
Not without learning from failure tho...
For Brian a great part of that failure was it got him to look at his own leadership and say “What do I love to do in the business, and what am I great at? What do I hate to do and what am I bad at that the business needs?”
That changed everything for Brian...
That changed everything for Brian...
He now envisioned hiring the right COO who not only complemented his strengths but also his weaknesses.
Brian knew that he was the visionary and culture guy.
That’s when 3 different people independently referred him to Erik Church, their current COO, and President.
Brian knew that he was the visionary and culture guy.
That’s when 3 different people independently referred him to Erik Church, their current COO, and President.
Erik was the rigor, discipline, and execution guy.
Whereas Brian has a great idea, Erik is able to take the idea and translate them into execution.
This changed everything for them...
Whereas Brian has a great idea, Erik is able to take the idea and translate them into execution.
This changed everything for them...
When Erik came in, they were at $85m in revenue, and this year they’ll finish at $400m+ for 02E brands (1-800-GOT-JUNK?’s parent company)
A few things I learned from @BrianScudamore were:
1. Self-Awareness is essential. Understanding yourself will help you build your business in the direction that you want with the fulfillment that you were seeking.
2. Learn from failure. At any point, failure is your teacher.
1. Self-Awareness is essential. Understanding yourself will help you build your business in the direction that you want with the fulfillment that you were seeking.
2. Learn from failure. At any point, failure is your teacher.
3. Have a mentor. Brian wasn't the first person to deal with a problematic situation and therefore turned to someone who could guide him.
4. Trust your gut and vision. If things don't feel right, then they're probably not.
4. Trust your gut and vision. If things don't feel right, then they're probably not.
5. Don't hire to compliment your strengths. Hire someone who can build off your weaknesses. Brian hired Erik and Erik helped Brian elevate to new heights, TOGETHER.
A great story with a lot of takeaways.
A great story with a lot of takeaways.
If you want to hear more about @BrianScudamore, check out this interview: https://trends.co/articles/one-mans-junk/?utm_source=Twitter&utm_medium=fnl3&utm_campaign=brian
