Construction Business Lessons: Cash Flow, Mentorship, and Scaling the Right Way

Jacob Gaspard (00:00)
everything but ⁓ i think cash flow was really the biggest thing not knowing in the beginning cash flow was the number one thing because we didn’t know what we didn’t know and

on these big, really big projects, we put so much money out and we’re holding lines of credit and everything open for so long. Because sometimes we don’t get paid. So from the time where we actually complete the work, we might not be paid for 90 days after, 120 days after, depending.

Michelle Kesil (02:09)
Hey everybody, welcome to the Real Estate Pros Podcast. I’m your host, Michelle Kesil. Today I’m joined by someone I’m looking forward to chatting with, Jacob Gaspard, who is in construction services, focusing on sports lotting. So excited to have you here today, Jacob.

Jacob Gaspard (02:29)
Yeah, thank you for having me on. Pleasure to be here.

Michelle Kesil (02:33)
Let’s dive in. So first off, those not familiar with you and your work, can you share what your main focus is?

Jacob Gaspard (02:43)
Yeah. So, ⁓ for about 17 years or, ⁓ right. Actually this year will be 17 years. ⁓ we started in sports construction, ⁓

specializing in sports lighting. So I’m an electrical contractor by trade and

One day I was just, well actually I was just doing service work, homeowners, commercial construction, ⁓ just typical changing out panels, doing electrical construction.

And I got a call to move a 25 second clock on a football field. So I went and did that project and. ⁓

owner

came out and asked me if I was able to do the change out big light pole. So it’s like some 80 foot tall stadium lighting. And so I said, yeah, absolutely. And I really didn’t have a clue of what I was doing. I had never done it before, but being in construction, I knew that I could do the job. I could figure it out.

So that’s where it all began and I changed out the light poles on that field and we got connected with ⁓ other contractors who were doing artificial turf and dirt work and planting grass ⁓ for different types of fields, football, soccer, ⁓ baseball. And we did a lot of baseball complexes and softball complexes. So I ended up going throughout the United States and became ⁓

I think right now I am the biggest single sports lighting installer in the United States. So yeah, it just built from there. So now we have our own, not just doing installations, but we have our own products where we actually sell the sports lighting for the clients and do that.

consulting forum and everything what’s best for their project. Whatever size project it is, we want to get the best lighting on the field versus ⁓ just paying the most expensive for the project. We want to get them something in budget, but that really does a good job,

It’s okay to play lighting. Lighting doesn’t matter that I say it doesn’t matter. It really does matter, but it’s, not so important with the play live. It’s more important whenever, ⁓ people taking pictures, film for TV, like ESPN requires a massive light level to be able to, ⁓ give good picture on a TV screen. So yeah, that’s, that’s really the main thing that we do.

Michelle Kesil (06:10)
Awesome. And what do you feel are some of the main keys that allow your business to grow and run successfully?

Jacob Gaspard (06:18)
Great question. ⁓ One of the biggest keys to growth for our company was the relationships that we build. And I own multiple companies in construction and also completely away from construction. And I think that’s the one thing that bridges over to everything is the relationships that you build.

or create an open opportunities, create opportunities, it’ll open doors. And I think it’s because the trust value that comes with it. When people know you and they know the work that you do, and they also know the type of person that you are, they have no problem introducing you to other people. ⁓ They have no problem.

going into deals with you, inviting you into projects or even investments. that’s.

I think that’s the most important thing. And then also the people that you have working for you. So employees, subcontractors, anybody who is actually around supporting your business is part of that relationship building because they represent you. So they’re gonna go out and they’re gonna do the job on your behalf. And like.

our company is named elite sports lighting and elite sports construction for a reason is because we hold the standard so high when we go to a job site, the simplest thing, ⁓ my guys will pick up trash, not only our trash because we’re expected to pick up our trash, but

went to a high school and my guys are out there picking up trash that’s been there for probably months, maybe even years that just kids threw down, nobody ever picked up. So when we leave the project, it’s so much cleaner and so much better than it was when we got there that actual athletic directors and… ⁓

guys running the facility would come out and say, you don’t need to pick that up. The kids do that, we’ll get that. And I’ll step in and I’ll say, no, that’s what we do. It’s part of what we do. We’re not only here to do lights for you, we’re here to leave everything and everybody better than we found it.

And ⁓ again, I think that kind of also goes back to relationships because that person is going to recommend us to the next ⁓ project for their school, not only for their school, for a neighboring school or somebody that he has a relationship with.

Michelle Kesil (09:02)
Yeah, absolutely. And what are the types of projects that you typically work on?

Jacob Gaspard (09:08)
Okay, so.

I’d say probably 75 % of what we do is at the high school level. So we’ll go across from high school to high school and do football, baseball, and softball fields. And.

And it seems like every time we go do a school here next year, we’re going to the neighboring school because they just saw what we did there. So I think it’s a matter. The reason we do so many of those is simply because there are so many of them. So as like I said, as we’ll go do one project, the neighboring school or the rival school. ⁓

don’t want to be outdone by their rival or the neighboring school.

So if somebody gets it, we want it to, right? And I think that’s the mentality there. But then ⁓ the rest of it is split pretty equal between professional sports. So we do some professional sports.

⁓ arenas and football fields, baseball fields. We do a lot at the college level as well. I think it’s split pretty equally with the rest of the 25%. Sports complexes, we do them, but I think.

The percentage would be a little bit less just simply because they’re so big and the budgets are so much that it takes a while for people to raise money to be able to do that because we’re talking multi-millions. It could be 20 to $50 million for a project that size.

Michelle Kesil (11:16)
And what are you most focused on solving or scaling to next?

Jacob Gaspard (11:24)
Great question.

I for me is…

That’s a really good question. I think it’s product for us. So we’re gonna be expanding more into R &D with the next thing coming out. They had metal halide bulbs and then now we switched into all LED and now we have the RBGs which colored LED lights that you’ll see them blinking and kind of what I mentioned on ESPN earlier, ⁓ the…

I don’t like watching it on TV anymore because every time somebody scores a touchdown, the lights flash and when they dim, you can’t see anything on the field. But live, it’s really awesome, right? ⁓ So I think for us, it’s that next level. obviously, I can’t talk about that, but it’s research and development on what’s going to be that next thing in lighting. And we’re going down.

big investment.

Michelle Kesil (12:37)
What have been some obstacles or challenges that you’ve had to overcome in your role?

Jacob Gaspard (12:42)
everything but ⁓ i think cash flow was really the biggest thing not knowing in the beginning cash flow was the number one thing because we didn’t know what we didn’t know and

on these big, really big projects, we put so much money out and we’re holding lines of credit and everything open for so long. Because sometimes we don’t get paid. So from the time where we actually complete the work, we might not be paid for 90 days after, 120 days after, depending.

and then you get paid every 30 days, but you’re, you’re again, you’re behind the whole time. So dealing with the stress of the cashflow was probably the biggest thing in the beginning. Now it’s more

It’s are the obstacles, know, it’s culture is a big obstacle. You know, everybody wants everything so fast. ⁓ and meaning like,

employees want to want to get rich fast. ⁓ know, salesmen want to, I want them to, but it takes time. And so I think dealing with ⁓ the impatience of people on all ends is probably one of the biggest things to deal with now. ⁓ But

It doesn’t, it still doesn’t take the stress away from cashflow and anything else like that. That’s, that’s all still there. It’s just, it’s much better managed now. You know, 17 years in, you know, you learn, you start learning to say no to things instead of saying yes to everything. And then you put yourself in a bind. ⁓ and it’s, that’s one of the biggest things that I’ve learned through the years is

Not every job is mine, so I need to take the ones that are for me and I need to let the ones that are not for me through. There’s enough work out there for everybody. saying yes to everything really put me in a bind, especially in the beginning. Cash flow or the lack thereof was one of the things that I lost everything twice through these years.

⁓ And it was both, both times were cashflow related and that was a major stress area, you know? But once you get through it, then you learn, you you learn, Hey man, like I can’t go down that road anymore. I need to make adjustments here. And yeah, it’s, obstacles will always be there.

So it’s getting the mindset to overcome them. And what can I do? Like the obstacles here is not going away and there is something I could do. What is it figuring that thing out? What’s that next step? And that never goes away. So the bigger you get, the bigger the obstacles get, but ⁓

I’m not going to say the easier they are, but you learn to trust yourself a whole lot more to overcome those obstacles. And that was a big, big deal for me to learn. And, ⁓ you know, I appreciate it now, you know,

Michelle Kesil (16:43)
Yeah, absolutely. Are there any goals or opportunities that you’re looking to?

Jacob Gaspard (16:49)
Yeah, you know, ⁓ talking about the research and development coming out with new product and being on, like on the front end of it is huge for me. So, you know, coming from, I mean, when I started all this, like if you back up all the way, I mean, I grew up super poor.

I was a high school dropout. got in construction, started working. And to think that you can, you can be where we’re at now and building for the future and the things that we’re looking forward to do coming from the place that I came from, ⁓ it’s pretty incredible.

Jacob Gaspard (17:33)
So to say I have goals. Yes, absolutely.

And it, sometimes I feel guilty about it because I’ve already surpassed what I thought the greatest life could be. And so it’s, I know it’s kind of, I don’t know, crappy for me to say that, but maybe it’s not, but it’s just, yeah, we have huge goals and we’re looking forward to the new product that’s going to be coming out in the next few years. Once we get a handle on that. Yeah.

Michelle Kesil (18:09)
Awesome. Is there any advice you would give to someone that’s looking to get started in construction?

Jacob Gaspard (18:17)
Yes. The number one thing is finding someone who has the skills that you want, the company that you want, basically the life that you’re looking to build and pay that person. Pay that person to be mentored by that person and try not to think too much about

what you want in there or like what you think is right. Like trust what that person’s, you know, again, it has to be someone you trust, but everything that they tell you to do, just run the play, run the play because they’ve been there.

So, ⁓ they went through the fire. They’ve, they’ve been through the wringer with everything. They’ve like somebody like me, I lost everything twice.

I can guide you around the landmines way better than you can try to walk through it yourself. using the other people’s belief, the mentor’s belief in you, because when you first start now, the confidence is not going to be there. ⁓

and it may, but it’s probably gonna be a little more arrogance because you don’t have the experience. But once you start getting experience and you could learn from your mentor and borrowing his confidence in you when you really don’t have any, and his ⁓ getting in alignment with what God wants for you and what your mentor has to say.

is gonna push you in the right direction and you need to trust that. And once every step that you make, you’re gonna see growth and you’re gonna see your company building, you’re gonna see your confidence building, you’re gonna see personal development going up. And once you start to see everything in the areas of life and… ⁓

I call them the five fronts. I’ve got faith, family, fitness, freedom, and fortitude. Once you see those areas build up, your confidence is really going to grow from there. And once you get that, you’re going to learn to trust yourself and understand even though you trust yourself, you’re going to make mistakes. And when you make mistakes, you’re going to pick yourself up and you’re just going to keep walking. You’re going to look at it. You’re going to analyze it.

But you’re not going to live there. A failure doesn’t make you a failure. just makes you, you just made a mistake. It’s okay. Everybody makes them. I still make them. I’m over 20 years in actual construction.

I’ll probably make more mistakes now than I did in the beginning because I’m doing so much more now. Right? So it’s, it’s about volume. It’s about how fast can I make the mistake, learn and pick it up and move on. And in the beginning, you tend to go a little slower because you’re scared to make the mistake. But once you realize the, the, the way to success is through failure is by making mistakes. The whole goal.

is to understand you’re going to trip and fall, but you want to fall forward to where at least when you fall you’re closer to your goal. And if you can get that, you’re going to be successful.

Michelle Kesil (21:49)
Amazing. Thank you for sharing all of that. And before we wrap up here, if someone wants to reach out, connect to learn more. Where can people find you?

Jacob Gaspard (22:00)
Yeah, so the easiest way to find me is Instagram. It’s the JacobGaspard ⁓ website, jacobgaspard.com. Or you can reach me at the business website of salesbossllc.com. And that’s the easiest way to reach me. But yeah, follow me on Instagram for sure.

Michelle Kesil (22:27)
Okay, perfect. Appreciate your time and your story. Thank you for being here.

Jacob Gaspard (22:31)
Absolutely, thank you.

Michelle Kesil (22:33)
And for the listeners tuning in, if you can go out and make sure you subscribe. We have more conversations with operators like Jacob who are building real businesses and we’ll see you on our next episode.