Episode 67: Scott Cleator Reflects on Building Lumos Electric from the Ground Up

Today, our host, Bob Gauvreau, sits down with our guest, Scott Cleator, co-founder and owner of Lumos Electric, a prominent electrical contracting business based in Ottawa. Since co-founding the company in 2018, Scott has led Lumos Electric to success through a commitment to high-quality service and a strong team-oriented culture.

Bob, and Scott explore the key strategies that have driven Lumos Electric's growth, including the implementation of effective pricing models and the development of strategic partnerships. Scott shares his experiences in overcoming challenges, maintaining profitability, and fostering a resilient and adaptable team environment.

Listeners will gain valuable insights from Scott’s entrepreneurial journey, highlighting the importance of strategic decision-making and continuous learning. This episode offers practical advice for business owners aiming for long-term success and growth.

Episode Highlights:

• 00:00 Welcome to The Wealthy Entrepreneur Podcast
• 03:43 Scott's Journey and Early Challenges
• 05:43 Business Coaching and Pricing Strategy
• 12:07 Implementing a New Pricing Strategy
• 21:24 Building a Strong Team and Strategic Alliances
• 34:10 Navigating Business Challenges and Personal Growth

About the Guest:
Scott Cleator is the Owner and Co-Founder of Lumos Electric Inc., a leading electrical contractor based in Ottawa, Ontario, Canada. Since co-founding Lumos Electric in 2018, Scott has been instrumental in shaping the company’s core values of delivering high-quality customer service and fostering employee growth.

Scott completed the Pre-Apprenticeship Program at Canadore College in North Bay in 2010. He continues to support the program as an Industry Advisor on the Program Advisory Committee, as part of his commitment to industry excellence and education.

A proud father of one daughter, Willow, and another on the way, Scott balances his professional endeavours with a fulfilling family life. In his leisure time, he enjoys fishing, boating, golf, hockey, and cottaging with his wife, Lauren.

Scott is also a Wealthy Entrepreneur Program alumnus having been connected to Bob since 2019.

Connect with Scott:

• LinkedIn: https://www.linkedin.com/in/scott-cleator

Resources:

• Visit Lumos Electric Website: www.lumoselectric.ca
• Visit the Million Dollar Year Website: https://www.milliondollaryear.ca/ 
• Download The Wealthy Entrepreneur (digital book) for FREE: https://www.milliondollaryear.ca/wealthy-entrepreneur/opt-in 
• Like our Facebook Page at https://www.facebook.com/wealthyentrepreneurofficial 
• Join The Wealthy Entrepreneur Community for FREE at https://www.facebook.com/groups/gauvreaucpa 

For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@wealthyentrepreneurofficial.

Let’s continue to work on becoming a Wealthy Entrepreneur!