Taming the Chaos with Tim Wise
Building Success from the Ground Up: Lessons from My Conversation with Tim Wise
Starting a business is no small feat, and sustaining it is an entirely different challenge. Recently, I had the pleasure of speaking with Tim Wise, the founder of Wise Cut Landscaping, about his journey in entrepreneurship. Our conversation was not just about the ups and downs of running a business, but also about the invaluable lessons Tim has learned along the way. Here, I will share some key takeaways from our discussion, which I believe can be highly beneficial for both budding and experienced entrepreneurs.
The Power of Starting Small
Tim’s journey began with just $500 borrowed from his wife's student loan and an old truck from his father-in-law.
"A lot of the most successful businesses are ones that started just like yours with a few hundred dollars." - Penny
Starting small gives you the flexibility to learn from each experience without the pressure of large initial investments.
“If we mess up, we own up.”
Building with Integrity
One of Tim's fundamental principles is integrity. He shared an instance where a payroll mistake went unnoticed but was rectified as soon as it was discovered. Tim advised, "If we mess up, we own up."
Key Points:
Maintain transparency with your team and clients.
Integrity is not just a moral choice but a business strategy that builds trust and loyalty.
Faith and Business
Tim’s faith plays a crucial role in how he runs his business. While they are a for-profit organization, Tim believes they are also "for people." He mentioned, "We extend grace, but there's also accountability."
How Faith Guides Business:
Balance grace with accountability.
Ensure that your business practices reflect your core values.
Involving Family
Tim credits much of his success to his wife, who diligently manages the financial side of the business. He notes that her budgeting skills are crucial for their success. This partnership reflects the importance of involving family in your business operations.
Family Collaboration Tips:
Divide responsibilities based on strengths.
Communicate openly and trust your partner's judgment.
Lessons in Financial Management
Understanding financials is where many small business owners struggle. Tim and I discussed the importance of managing finances effectively and getting managers involved in budgeting.
Financial Management Steps:
Ensure managers monitor production-related wages and expenses.
Be mindful of both gross and net profits and your role in managing them.
Implement practices to reduce waste and inefficiency.
Cultivating a Team Culture
One of Tim’s proudest achievements is creating a workspace where team members feel valued. At Wise Cut Landscaping, they practice the "WISE way," focusing on:
Willingness: Are you willing to do whatever it takes for your teammate to be successful?
Integrity: If we mess up, we own up.
Safety: Prioritizing team welfare.
Excellence: Striving to win in all endeavors.
Continuous Improvement and Learning
"Never quit learning," Tim advised. He highlighted the importance of continual refinement in business processes and staying open to new solutions.
Regularly assess where improvements can be made.
Engage in activities that promote learning and growth for both yourself and your team.
Conclusion
Tim Wise's journey is a testament to resilience, faith, and steadfast values. The lessons from our conversation are more than just business tips—they are guiding principles that can transform the way we approach entrepreneurship. Whether you’re just starting out or have been in the game for years, these insights can help navigate the complexities of running a business while keeping its core purpose intact.
Let’s keep building, learning, and growing together.
Upcoming Event
Join me for a free webinar on November 22nd at noon, where I will be discussing essential money principles for running a business. This informal session is designed to build a solid foundation in financial literacy for entrepreneurs. I look forward to connecting with you and sharing further insights!
Join me every Tuesday for Taming the Chaos of Entrepreneurship, a live LinkedIn/Facebook series where I sit down with entrepreneurs and business owners who have faced the same hurdles—and come out stronger on the other side.
