• Ep 288 | Capital Allocation ft. Zaid Abu Shakra

  • Nov 18 2024
  • Length: 2 hrs and 25 mins
  • Podcast

Ep 288 | Capital Allocation ft. Zaid Abu Shakra

  • Summary


  • Austin welcomes the group, including Amer in Toronto, Zaid in Toronto, and John at a Kelowna airport hotel. They discuss their travel plans and upcoming trips, with John going to Mexico for his honeymoon and then Hawaii.

    Zaid and Amer discuss their basketball skills, with Zaid claiming he is the better player overall despite Amer being a better shooter. They also joke about Zaid being a better swimmer than Amer.

    Zaid shares his experience of moving to Canada from Jordan at a young age, noting the cultural differences and adjustments he and his brother had to make, such as seeing more diversity and different styles of dress.

    Zaid discusses his time working for Student Works, starting as a painter and gradually taking on more responsibility and autonomy. He shares a story about realizing the profit margins were not as high as he initially thought, leading him to eventually leave Student Works and start his own renovation company.

    Zaid describes the challenges of starting his own renovation company, including initially taking on a wide range of services he didn't fully understand. He shares how he and his business partner, Kieran, eventually narrowed their focus to kitchen, basement, and bathroom renovations, which led to more success.

    Zaid and the group discuss how the systems and processes Zaid learned from Student Works have helped him in running his own renovation business, such as using Facebook ads, door-to-door marketing, and maintaining high standards of customer service.

    The group emphasizes the importance of proper financial management and accounting, highlighting the risks of not having a clear understanding of a business's financial position. They discuss the value of working with an experienced accountant and the need to track expenses, taxes, and profitability at the project level.

    The group concludes the meeting by discussing Zaid's plans for the future, including his goal of moving out on his own and the potential options for investing his recent profits. They also discuss the importance of maintaining a healthy work-life balance and the challenges of scaling a business.

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