107: Controlling How You Scale Your Business with Josh Watson

AmiSights: Financing the Future For Small Business Owners and Entrepreneurs

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1y ago 38:55

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Welcome back to the AmiSights Podcast! Today we welcome our new Co-Host, MultiFunding President Lynn Ozer, aka the SBA Queen. On this episode, we talk to Josh Watson, founder of EIS Automation, a Las Vegas-based manufacturing automation company focusing on product handling and end-of-line solutions. This is a must see episode for entrepreneurs in exponential growth mode. We discuss how to finance growth and how saying no can lead to success.

Josh, who grew up in the printing industry, worked for a larger company when he decided to go out on his own in 2012. However, he maintained a consulting contract with his former employer until 2017. Since then, he has seen steady growth, including a big bump during the pandemic in 2020 and 2021, when he was considered an essential service catering to the medical space.

Although he has considered adding angel investors, he realizes that comes with risk, especially since he is in the hardware world, which is very capital-intensive and has much longer build times than just a software business.

He reached his “aha moment” last year when he realized he was in a position to pick and choose his customers rather than accepting every bid that came across his desk.

"You have to look at where you want to go and not get distracted by the shiny things on the side of the road," he said. "Not every opportunity should be taken, especially if you have a goal in mind in the direction you want to go."

He is weighing his immediate and long-term needs with higher interest rates. After all, interest rates can go down, and the monthly payment is the point to worry about.

Looking back, he realizes he needs to trust the process and not sweat the small stuff.

"You always cook it hotter than you eat it. So a lot of situations resolved themselves," he said. "It requires a lot of personal growth."

We learned a lot from Josh, and we’re sure you will too.

Recorded 02/22/2023.

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#Entrepreneur #Business #MultiFunding