Is it possible to spend your whole career working for someone else, only to start your first business at 55 years old?
Immediately after high school, Larry Petretti began a career as a carpenter eventually moving out of the field and into the business side, working his way to the top of a massive construction enterprise.
At each level he took the time to meticulously learn his craft to know what it takes to run every part of a construction business, from sales to management and operations.
The soft skills he acquired in his 20s brought him tremendous opportunities in his 30s and a job offer for a COO job that allowed him to travel all over the world. By the time he decided to start his own business, he was certain of his success.
Learn how you can apply some of the same principles to massively reduce the risk of entrepreneurship by starting when the time is right for you.
You’ll also hear how Larry’s decision not to go to college was ultimately better for his career and business, and how he found the time to continuously educate himself to surpass his peers.
- 1:27 Starting off as a carpenter
- 2:44 Evaluating the risks of starting a business
- 4:44 How Larry differentiated against other construction companies
- 5:00 How Larry knew it was time to strike out on his own
- 7:22 An accident that moved him to the business side of construction
- 8:30 Standing out from college graduates
- 10:20 Being able to see opportunities
- 13:10 A major turning point in Larry's career
- 13:54 Getting a $140 million contract
- 15:29 Starting a business at 55
- 16:50 Making $26 million in the first year
- 17:36 The very first steps of starting his construction company
- 17:50 Finding a mentor and executive coach
- 21:24 Making the first hires
- 23:36 How Larry convinced a bank to give him money
- 26:06 Building a business is a marathon not a sprint
- 26:33 How and why Larry picked his target market - corporate america
- 27:42 When Larry realized this was a real business
- 29:00 Growing conservatively and responsibly
- 29:15 How Larry focused on what drives the new generation of employees
- 31:26 Discussing The Loyalty Effect
- 33:47 Training all employees to give presentations
- 35:04 Mentorship segment with Larry
- 35:30 Why people are afraid to admit their mistakes, and how to address this
- 36:39 Management lesson - be aware of how you react and give feedback
- 38:03 Being sensitive to your employee's and customer's needs
- 38:56 "Steal with your eyes" - always find opportunities to learn