We caught up with the brilliant and insightful Smitty Smith a few weeks ago and have shared our conversation below.
Smitty, thanks for taking the time to share your stories with us today We’d love to hear the backstory behind a risk you’ve taken – whether big or small, walk us through what it was like and how it ultimately turned out.
In 2009 I decided to do something I had no business doing. I only had the overwhelming desire to do something extraordinary. It was more of an accidental start, really. I had no real direction, only certain gifts as a leader and creative that I didn’t know what do with. Out of the corner of my eye while driving I noticed an old empty laundry mat building that was in a prime location. The sign posted said it was available, and to call today! The dream of what could be began instantly. I got that fluttery feeling and within an afternoon and few note pages later I had fully visualized and branded my first business. I could conceptually see every detail, the new layout, the cost, the fabric, the lighting, the menu and so on. Craft Beer was the future. This was the beginning of a new trend and Craft Beer was my new obsession. I loved it. I was at the starting gate and nothing would convince me this wasn’t my sole purpose. So, I made the call and presented myself as restauranteur. I began the quest to open a craft beer lounge and was determined to fulfill my vision. 2 years later, we opened. Smaller venue, and at different location. It was shoulder to shoulder on opening night. The taps were flowing and so was my soul. The laughter and sounds of glasses clanging were finally no longer a vision but in full swing. I was complete. During the two years, I met with local investors and developers to pitch this dream of mine. I had a very loose and lacking business plan, and did most of the pitching verbally in person. I had no money and no one serious about partnering with me. I had a lot of people rooting me on but no one willing to take on the risk with me. Risk wasn’t a thought of mine at the time. I didn’t see it as taking a risk. I saw it as the only meaningful outcome. I saw it as my statement. I took $30,000.00 on a line of credit and made it happen. I had accomplished the impossible. And if you were there opening night, you would have patted me on the back. The understanding of risk came much later when I was smothered in the woes of being a small business owner. The luster had settled, the revenue had hit the bottom line and I was in survival mode. Turns out restaurants are not traditionally a great investment. A simple understanding of market data may have suggested this was’t the best business to take on. I was blinded by my drive and vision. The risk was always there. The outcome was 4 years of overcoming trials and dealing with the stress of it all and eventually selling. I’d love to give the celebratory ending on my quest to become the craft beer king. In reality, the success was that I was willing to take on the risk. Something I’m still willing to do to this day. Everything we take on in business is a lesson learned. Failures and obstacles are valuable. Because of those lessons forced on me, I now consider certain key check marks that I was quick to overlook at my start. I take the time to consult with others who have learned those lessons already and I have learned that I am better partnering with good people and allowing them to speak into my concrete thinking.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.
My name is Smitty Smith. No, not my real name, but a family nickname that goes back a few generations. So, I will leave it at that. I am General Contractor primarily focused in the development and construction of Self Storage. I have been in the construction industry for roughly 18 years and began as a low level property and facility manager for a local church. The church grew from one campus to four campuses in the matter of a couple of years. This began my experience as a project manager overseeing capital improvements, budgets, contractors, and deferred maintenance plans. I started taking on work as a small GC doing residential remodels for my network of friends and by word of mouth. I obtained my real estate license and starting flipping houses in Louisville, KY around the same time. I opened a Craft Beer Lounge in 2011 and sold in 2015. I managed a residential construction company for 6 years with direct oversight of business development, operations, sales, and design work. I went on to work as an Owner’s Representative and Construction Manger in the hospitality industry dealing in Casinos, Hotels, and in the Horse Racing Industry. My partner and I recently formed RESOLVE Self Storage Development and Construction. We specialize as a general contractor in both the construction and pre-construction services across the country. Self Storage has traditionally been a great investment. However, as interest rates and construction cost have increased the right development deal is harder to come by. We are strategic partnership company created with the purpose to control development and construction cost. We are a niche service within a niche market. This allows us to be a more affordable service to those looking to develop and build self storage. We pride ourselves on being a value added to our clients and their projects. My partner, Mark Helm is a 30 year self storage expert and consultant. You can look him up at Creatingwealththroughselfstroage.com. We have combined our experiences to create RESOLVE out of a lack of specialized and focused commercial general contractors with services that fit the needs of our clients. We work as an Owner’s Representative during pre construction or “Phase 1” as we call it, and provide a construction bid to work as your General Contractor during construction, or “Phase 2”. You can learn more about us and our services at Resolveself-storage.com.
Any advice for growing your clientele? What’s been most effective for you?
The most effective strategy for growing your clientele is solving the problem. When you can solve the problem, or be a big part of the solution you are effectively earning business and growing your clientele. We get to be honest and select when evaluating wether or not we can be of real help to our clients. I really enjoy the relationships we get to be apart of as a business owner. Individuals are coming to us because we are the experts and they need our help solving the problem, but more than just our services we get the privilege of being in a partnership with a vast array of great people.
We’d love to hear a story of resilience from your journey.
I’m not a patient individual. Waiting isn’t my gift. I like to make moves and spin the plates. Resilience for me comes from enjoying the process and looking at the bigger picture. Progress, not perfection. In my role, I often have to be the driver of the bus for many different contacts focusing on the one primary goal of our client. When you are dependent on others it can be challenging, however staying focused and leading the way takes resilience, or as I like to say, it takes the RESOLVE.
Contact Info:
- Website: https://resolveself-storage.com
- Instagram: resolve_self_storage
- Linkedin: https://www.linkedin.com/in/smitty-smith-7080ab325
- Youtube: https://www.youtube.com/@MarkHelmSelfStorage