Unlocking Trades Industry Success

Parnell Woodard

Hello listeners. I'm Parnell Woodard your host for the Pivot Point! A podcast, where we help professionals navigate the journey to greater control, balance, and fulfillment through career transitions and business ownership. With me today is Eric. Eric's background is in communication and has a number of years of experience as a podcast host and producer.

Parnell Woodard

Alright, let's, uh, let's jump right in, shall we? Here's the deal: everyone's heard the old saying—be your own boss, right? It's inspiring, sure, but honestly, it's also kinda vague. I mean... what does that even mean for most people? My guess, it feels like one of those lofty ideas that sounds good but feels totally out of reach.

Eric Marquette

Right, because for a lot of folks, "being your own boss" gets conflated with having all the answers, all the skills, and quite frankly, all the capital upfront. Sometimes it's like... where do you even start?

Parnell Woodard

Exactly! But here's the thing—if you're willing to shift your perspective, open your eyes to opportunities in industries you might not be considering, well, you'd be surprised what's actually out there. Take the trades industry, for example. A lot of people hear that and think, "Nah, not for me, I’m not, like, a plumber or carpenter or whatever." And that's where they miss the boat entirely.

Eric Marquette

Oh, totally. And what's wild is that the trades are this multi-trillion-dollar space—yeah, trillion with a "T"—and so many people just don't realize the untapped potential sitting right in front of them.

Parnell Woodard

Exactly! And it’s not just about the technical skills. I mean, let me ask you something, Eric—how much time do you think the average trade business owner actually spends on hands-on work versus managing the business itself?

Eric Marquette

Ooh, good question. Hmm, I’m guessing... what, maybe fifty-fifty? Like, half hands-on, half management?

Parnell Woodard

Not even close, my friend. Try—try less than thirty percent. Yeah, most trade business owners spend upwards of seventy percent—seventy—just managing operations, marketing, clients, all that. The technical? That’s left to the skilled workers they hire.

Eric Marquette

Wait, seriously? That’s, wow, way less hands-on than I would’ve thought. So, you're saying this isn’t about being the expert at swinging a hammer or installing fancy tech?

Parnell Woodard

Spot on. See, it's about leadership, strategy, and, most importantly, vision. If you can manage people, if you can grow a team, you’ve already got the essential tools to succeed. And the trades industry—the opportunities there, Eric, it’s... well, let’s just say we’ll be cracking that wide open in this episode.

Eric Marquette

Can’t wait! We've got a lot to unpack. From billion-dollar potential to how everyday people can tap into this growth, it’s gonna be good. So yeah... let’s do this.

Eric Marquette

Alright, Parnell, let’s dive in—because here’s what’s blowing my mind. A lot of people still think the trades industry is, I don’t know, kinda small-time, right? Like, they picture a local plumber fixing pipes or something and don’t connect that to this massive, multi-trillion-dollar juggernaut you’re describing.

Parnell Woodard

Exactly, and that’s a huge misconception. I mean, look, the trades industry is generating over two trillion dollars in revenue every year. Trillion, with a “T.” And while people get stuck on the idea of being 'small-time,' the reality is, the opportunities here are absolutely monumental.

Eric Marquette

Two trillion? That’s wild. And honestly, I feel like it’s such an overlooked path—like people aren’t connecting the dots at all.

Parnell Woodard

Right, and get this—one of the myths that stops people dead in their tracks is this idea that you’ve gotta be a skilled tradesperson to own a trade business. "Oh, I don’t know how to fix a water heater—I could never do that." But here's the takeaway: you don’t need to.

Eric Marquette

Really? So, it’s not about the tools or knowing how to, like, replace a roof?

Parnell Woodard

Not even close. In fact, 82% of successful trade business owners focus primarily on managing and growing the business. They’re not out there fixing things themselves. They’re the ones running the show—hiring the team, building client relationships, driving the vision.

Eric Marquette

That’s such a game-changer to hear, honestly. So even if someone’s never touched a wrench, they could thrive in this space, as long as they’re skilled at, like, leadership and strategy?

Parnell Woodard

Exactly. Entrepreneurs who can manage teams and handle operations are the real drivers here. The folks with technical skills? You hire them. That’s their role. But your role is to steer the ship. And with the kind of growth we’re seeing right now, it’s the perfect time to step in.

Eric Marquette

Speaking of growth, let’s talk about what’s fueling this industry boom. There’s gotta be some serious tailwinds behind numbers that big.

Parnell Woodard

Absolutely. For starters, you’ve got the $1.2 trillion U.S. infrastructure bill. That money is earmarked for projects like road repairs, tunnels, bridges—you name it. It’s creating an enormous ripple effect across the trades ecosystem.

Eric Marquette

Infrastructure makes sense, but what about on a smaller scale? Like, are there any trends impacting the kind of work an everyday trade business might take on?

Parnell Woodard

Oh, for sure. Technology is a big one—smart homes, for example. The market for smart home systems is projected to hit about $135 billion by 2025. That’s huge. And it’s not just about the gadgets—it’s the electricians installing the systems, the contractors integrating features into new builds... the whole ecosystem expands.

Eric Marquette

Okay, hold on. I wanna make sure I’ve got this straight—for anyone listening who might be interested. You’ve got this, um, trillion-dollar infrastructure push on one side and then smart tech on the other, both driving demand in the trades industry. That sound about right?

Parnell Woodard

Yep, and those are just two big pillars. Housing, too—it’s been on a steady rise. We saw housing starts hit 1.6 million in 2021, a sixteen percent jump over the previous year. That kind of growth means plenty of work for contractors, plumbers, electricians—all of them.

Eric Marquette

Wow, there’s just so much happening all at once. No wonder this industry’s exploding.

Parnell Woodard

Exactly. And if you think about it, this momentum isn’t slowing down anytime soon. When you add it all up, the trades industry isn’t just lucrative—it’s one of the best spaces for entrepreneurs to enter right now.

Eric Marquette

You know, Parnell, with all this momentum in the trades industry that you outlined—the infrastructure push, the rise in smart home tech—it’s incredible how much opportunity there is. And yet, that stat you mentioned earlier, about trade business owners spending seventy percent of their time on operations, really stands out. It completely changes how I think about running a trade business.

Parnell Woodard

Yeah, it does. And honestly, that’s one of the biggest advantages here. See, when you shift your focus to the operational side, you’re not just running a business—you’re building one. The real value comes from scaling, from figuring out how to make everything more efficient, more cohesive.

Eric Marquette

It’s kind of like managing a puzzle, right? You’ve got all these pieces—marketing, HR, customer service—and your job is to make them fit and work together seamlessly.

Parnell Woodard

Exactly. And that’s where leadership plays such a huge role. Take someone I worked with recently—he started with a small electrical contracting business. Nothing fancy, just him and three employees. But he understood one key thing—leadership isn’t about doing everything yourself; it’s about empowering others to excel.

Eric Marquette

Sounds like he had a game plan. So, what happened next?

Parnell Woodard

Here’s the interesting part. Instead of just sticking to wiring homes, he started looking at market trends—like the boom in smart home technology. He invested in training his team to install these advanced systems, marketed it aggressively, and positioned his company as a go-to in his area. Within three years, not only had he doubled his team, but his revenue tripled. All because he leaned into strategic opportunities and stayed focused on operations.

Eric Marquette

Wow, talk about playing it smart. So, it wasn’t just about the technical work—it was seeing the bigger picture and adapting to it.

Parnell Woodard

Exactly right. And, look, the integration of smart home technology? That’s a goldmine for trade business owners who are willing to innovate. I mean, think about it: the smart home market is set to hit $135 billion by 2025. That’s massive. But the opportunity there isn’t just in the tech—it's in the expertise to install and integrate it into homes.

Eric Marquette

And I guess that’s where management comes in again. If the demand is there, your job isn’t to learn every technical detail—it’s to make sure you’ve got the right team to deliver.

Parnell Woodard

Yep. Hire well, manage effectively, and you’re halfway there. The best trade business owners are the ones who understand that their job is to focus on strategy, growth, and, you know, staying a step ahead of the curve.

Eric Marquette

You know, Parnell, everything we've covered so far really highlights just how many opportunities there are right now. From rising demand in the trades industry to the importance of leadership—you can see how the right strategy can position anyone for success. It’s exciting to think about just how transformative a solid plan can be.

Parnell Woodard

Totally get that. Look, stepping into business ownership, especially in a field like the trades, can feel like a leap. But that's where professional guidance makes all the difference. And... that’s exactly why Career Ownership Coaches® are so valuable. They’re not just there to help you start—they’re there to guide you through the whole journey.

Eric Marquette

So, it's like having a mentor by your side, someone who knows the obstacles and opportunities ahead?

Parnell Woodard

Exactly. I’ve seen it firsthand. I worked with a guy once—a teacher, no business or trade experience at all, but he had leadership skills and a drive to build something. I helped him find the right opportunity, walked him through financial planning, and matched his strengths to a franchise that fit his goals. Today? He’s running one of the top performing operations in his region.

Eric Marquette

That’s incredible... and such a good reminder that success isn’t about where you start—it’s all about where you’re willing to go.

Parnell Woodard

Exactly right. And that’s the beauty of this kind of guidance—it’s tailored. As a Career Ownership Coach, I take the time to truly understand your goals, your strengths, and even those areas where you might need help. It's centered all on what you want to achieve.

Eric Marquette

Yeah, those numbers don’t lie. And it’s just really inspiring to hear that you don’t have to be a technical expert—like you said earlier, you just need vision and the right team. The rest can be taught or managed.

Parnell Woodard

That’s the key. I always tell people, think of entrepreneurship as a journey, not just a destination. And the best way to navigate that journey? Surround yourself with the right support. Career Ownership Coaches are like, well, your GPS—keeping you on track, showing you the shortcuts, and even recalculating when you hit a detour.

Eric Marquette

I love that analogy. Alright, Parnell, how do we wrap this up? Any final thoughts for our listeners who might be considering this path?

Parnell Woodard

Yeah—don’t sell yourself short. You don’t need to have all the answers or all the technical skills. If you’ve got vision, if you’ve got leadership, and, most importantly, if you’re ready to invest in your own growth, this can work for you. The trades industry is a space full of opportunities—it’s waiting for someone to step in and lead. And with the kind of support we’ve been talking about today, there’s no reason you can’t be that person.

Eric Marquette

That’s such a powerful note to end on. To anyone listening—if success in business ownership sounds like your next chapter, don’t hold back. Reach out, learn more, and see where the journey could take you. Parnell, thank you—this has been such an eye-opening conversation.

Parnell Woodard

Same here, Eric. Always great to be part of the conversation. And to our listeners, remember—success isn’t just about talent or knowledge. It’s about taking the right steps, with the right guidance, at the right time. So, take that step. On that note... we’ll catch you next time - on The Pivot Point.