Building a Home Services HoldCo while being an FTE Without a W-2 with Dominick Blue

In this week’s episode, we chat with Dominick Blue, Founder and Chief Executive of Nostra Group. 

Dominick discuss his entrepreneurial journey and the evolution of his business model. Dominic shares his background, starting from a small town in North Carolina with early ventures like a lawn mowing business and a paper route, to his time in the Marine Corps, and eventually transitioning into the tech industry. He talks about founding Nostra Group with a focus on acquiring small family-owned businesses in the home services industries.

Dominic dives into his first acquisition in the air duct cleaning industry, Pure Air SD, discussing the factors that made the deal attractive, such as its cash-on-delivery model and a solid management team. He also highlights lessons learned, including the importance of examining asset quality and the challenges of managing customer expectations.

The conversation shifts to Dominic's second acquisition in the HVAC industry with Air ASAP, including the complexities of merging businesses and maintaining growth while managing cash flow. Dominic emphasizes the importance of building relationships with brokers and bankers, which facilitated his acquisition deals.

Dominic also shares his strategy for scaling Nostra Group, which includes organic growth, bolt-on acquisitions, and potential spinoffs. He talks about the challenges of balancing marketing with service capacity and the importance of not growing too quickly. Throughout the podcast, Dominic's dedication to hard work, community leadership, and customer trust shines through.

Tune in to hear Dominic's unique perspective on entrepreneurship, acquisition strategies, and building a successful business from the ground up.

 

Key Takeaways:

Understanding Your Role: Zero to One vs. One to 100: Dominic emphasizes the importance of recognizing whether you excel at creating new ideas (zero to one) or scaling existing ones (one to 100). Knowing your strengths can help focus your efforts in the right areas.

Build Strong Relationships: Relationships with brokers, bankers, and other professionals can unlock unexpected opportunities. Dominic's networking led to introductions that were crucial in his acquisition journey.

Quality of Revenue and Customers: It's essential to evaluate the quality of revenue and the type of customers a business attracts before acquisition. Poor quality can affect sustainability and growth post-acquisition.

Importance of Diligence: Thorough due diligence, including checking the condition of assets and interviewing customers, can prevent costly oversights. Dominic learned this the hard way with fleet issues post-acquisition.

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Additional Resources

➡️ Schedule a FREE Marketing Assessment today: https://lokalhq.com/marketing-assessment/

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👉 Connect with Dominick Blue

LinkedIn: https://www.linkedin.com/in/dominickblue/

X: https://x.com/dominick_blue

Facebook: https://www.facebook.com/justindominickblue

Website: https://www.nostragroup.com/

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The Boost, a podcast for home service contractors.

Join CMO of Lokal, Zach Wilson, as he explores leaders & innovators in home services, their personal journeys, thoughts and experiences with growth, marketing, and succession.

Lokal digital marketing works exclusively with contractors specializing in HVAC, roofing, plumbing, and garage door companies to conquer their local turf and grow exponentially.

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