Episode 48 - From Teen Laborer to Entrepreneur: Josh Nicodemus' Journe – Troll Co.

From mastering the remodeling business to flipping houses, Josh Nicodemus shares his experiences and the importance of culture in small business management.

The Path to the Trades

In the latest episode of the Old Boy Podcast, host Old Boy welcomes Josh Nicodemus, also known as "Josh of all trades" on Instagram. Josh, a jack of many trades, delves into how he ventured into the world of remodeling and real estate, sharing invaluable insights for business owners and aspiring entrepreneurs.

Josh's story begins in Northwest Florida, near Destin. Originally dipping his toes into remodeling due to his mother's payroll job at a local remodeling company, Josh quickly fell in love with the work. Despite societal pressures that favored higher education, Josh chose to follow his passion for working with his hands. He recounts the initial challenges of being the new, inexperienced guy on the job and making it through the brutal first summer out of high school.

Building a Business from the Ground Up

Josh spent years honing his skills, eventually becoming confident enough to manage a wide variety of projects. This diverse experience laid the foundation for him to start his own remodeling business with his best friend, who handled design and CAD drawings. Within a few months, their business expanded rapidly, and they had a full-fledged team. However, this rapid growth came with its own set of challenges.

One of the key lessons Josh learned was the importance of hiring based on attitude rather than just skill. Skills can always be taught, but a bad attitude can destroy team morale and culture, which are critically important in a small business setting. Josh emphasizes the need for a healthy workplace culture, which, in his experience, has even led to long-standing careers for his employees—a testament to his leadership and approach.

Diversifying into Real Estate

While Josh found success and satisfaction in remodeling, he encountered difficult customers that made him reevaluate his business model. This led him to real estate investment, particularly house flipping and rentals. Starting in 2016, he began studying the ins and outs of real estate and quickly realized he could create similar results on properties he owned, avoiding the challenges of dealing with particular customers.

In 2018, he sold his initial remodeling business and moved to his now-familiar turf in Northwest Florida. Since then, he has successfully flipped houses and accumulated rental properties, leveraging the same hands-on skills he developed in remodeling.

The Financial Balancing Act

Managing cash flow is a vital component of flipping houses, especially when a project's sale timeline can be uncertain. Josh shares his strategy of taking modest salaries to ensure the business is well-capitalized. This disciplined approach to finance has saved his business multiple times, especially when unexpected issues arise that could delay a sale.

Moreover, Josh underscores the importance of being prudent about living expenses and not becoming too dependent on the fluctuating nature of house sales. For emerging business owners, he advises procuring lines of credit when you don't need them so that you're prepared for any contingency.

Mentorship and Continuous Learning

Mentorship is another passion for Josh. Both within his company and through social media platforms like Instagram, he actively engages with aspiring tradespeople. Josh takes pleasure in guiding his team members and young apprentices, providing them with a balanced mix of hard work and valuable learning opportunities.

This focus on mentorship has created a work environment that nurtures loyalty and long-term careers. His teachings emphasize the intricate balance of practical skills and soft skills, aiming to foster a new generation of skilled, thoughtful tradespeople.

Culture and Community: The Heart of Success

One of the standout themes in Josh's discussion with Old Boy is culture. According to him, a strong, positive work culture is non-negotiable for the success of any business. Monthly team-building activities, annual retreats, and open dialogues about personal and professional goals are all part of his strategy to maintain a cohesive team.

Josh also credits his collaboration with Trollco Clothing, known for their "Dirty Hands, Clean Money" slogan, for advocating the dignity and profitability of blue-collar trades. Trollco's brand and mission resonate deeply with Josh, reinforcing his belief in making blue-collar professions respectable and aspirational.

Tune in to this episode of the Old Boy Podcast for an enriching conversation filled with practical advice, cultural insights, and Josh Nicodemus' inspiring journey from remodeling to real estate. Whether you're a tradesperson, an aspiring entrepreneur, or someone interested in the dynamics of small business growth, you won't want to miss this episode!

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"The guy was making multiple millions of dollars a year and also would just show up on the job site in his boots and pick up a broom or a shovel or whatever it took. And he never was too good to do anything that we were doing."