1: Interview with Scott Abbott (Pronexis + Founder of Five Star Painting)

December 10, 2020
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Today Ete sits down with Scott Abbott, founder of Five Star Painting and founder/CEO of Pronexis.

Scott Abbott is a pretty big get for our little show. He's a prolific entrepreneur with some extremely impressive credentials. And considering all that he's involved with, he's got to be one busy guy. Luckily we had some back channel connections and Scott was gracious enough to spend some time with Ete. So here we are starting off Season 3 with Scott Abbott. Enjoy the episode!

About this episode:

What sets Scott apart?
His many, very impressive entrepreneurial endeavors and successes. Here are a few highlights:

  • Entrepreneur of the Year at the University of Manitoba and Innovator of the Year for Manitoba. (12:12)
  • Started Five Star Painting and eventually had 150 franchise locations in 5 countries. (1:02)
  • Started Pronexis, the top lead development & growth platform in the home service industry (36:23)
  • Has owned multiple businesses in the past and currently owns 7 businesses, sits on the boards of 6 companies, and advises funds.

What helped him get there?

  • His Dad tossing a phone book at him. (7:17)
  • Having confidence, even when it’s “unfounded.” (17:28)
  • Not fearing failure. (18:05)
  • Loving the job. Never waking up and not wanting to go to work. (46:35)
  • Support. Finding his tribe at Entrepreneur’s Organization. (48:22)
  • Doing the hard things. (52:23)

Memorable Learning Experiences (Mistakes) and Hard Things Along The Way

  • Online fishing tournaments and bankruptcy (btw, it wasn’t his fault) (11:12)
  • Taking a Suit Job (13:52)
  • Five Star Christmas Trees: success and the one mistake (42:46)
  • His first employee firing (47:10)

Major Insights

  • Do your market research. (19:56)
  • Fill the holes with the right people. (25:34)
  • It’s always hard. As you succeed, what’s hard changes. (25:59)
  • Things are sometimes "fragile" and out of your control. (29:31)
  • Sometimes the risks are not greater than the rewards. (30:04)
  • Dissatisfaction can be good. (33:02)
  • Success = Adding Value (34:02)
  • “Excellence is only discovered in focusing yourself.” Don’t be the CEO of Everything. Don’t chase all the "Oh, Shinies." (43:54)
  • People get into entrepreneurship for different reasons. Know your reason. (54:14)
  • Invest in yourself. (55:20)

Miscellaneous Good Stuff

  • Growing up in Winter Peg: Colder Than Mars (for real) (1:56)
  • Wim Hoffing it (4:28)
  • He’s basically Survivorman (59:07)
  • From nosebleeds to holding Bono (1:01:17)

The most amazing quote I've ever heard. You can't get better than this. Keep going with it.

- Enzo Whipple

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