Jayson Waller, CEO of POWER HOME SOLAR, believed in the potential of solar energy and launched his company in 2014 after successfully scaling two home security companies. In 2020, POWERHOME SOLAR generated more than $360 million in revenue with a run rate of $700 million.
With the current trajectory, Jayson and his team are on a mission to make 2021 a billion-dollar year and with this exclusive interview, I am able to share his insight into how he built his clean energy empire…
What excites you the most about your business right now?
“What excites me about the business is just the opportunity to continue growing it. We have a mission of creating a billion-dollar business, and we’re not far off. That goal seemed lofty to outsiders as recently as a few years ago, but we’re on that path after nearly doubling our revenue each of the past two years.”
How did you make a name for yourself in the solar industry?
“I made a name for myself in the solar industry simply by saying, ‘Why not me?’ There is no elevator to success. I knew I had to take the stairs. And by setting small, achievable goals, that set the stage to pursue larger ones. The thing is, I never want to stop climbing. I don’t take time to admire the view, because I want to hit the next goal and the next.”
What obstacles did you face to get to where you are now?
“In transitioning from the home security industry to the solar industry in 2014, I was entering a field I’ve never been in, and I had a lot of people thinking I would fail. I knew how to sell, but I didn’t know how the solar business worked. At the end of my first year with POWERHOME SOLAR, the company was losing money and I had to consider shutting the doors. Cash flow was a real problem because we weren’t getting paid until after projects were installed, and that was tough. I felt like the shot clock was running out and I just needed more time. Fortunately, I was able to persevere, and now our company continues to skyrocket.”
How did you persevere through this obstacle?
“When cash flow became the issue, I had to sink my life savings into the business to keep it going. I had to talk my wife into listing our lake house for sale because we had some equity in there and we could go and buy a smaller house with cash and not have any bills. We were at that point. I’ve never been defeated before. I have, but I’ve never quit. What do I do? I was struggling with it, I was tearing up. My wife was like, ‘You need to pray about it, figure it out. I trust you, I have faith, you always come out on top, you always find a way.’ With that, I made the decision to go all in. It was a huge risk, especially when my life savings were gone from my two prior businesses, but I love betting on me.”
If you were to start from ZERO what would you do differently?
“Don’t be afraid to let go. As an entrepreneur, when you build something from the ground up and know it better than anyone else, it’s hard to see inefficiency happen and not want to step in and fix it right away. But I learned it’s far more important to give people that opportunity and let them either sink or swim. Letting go is so hard, but it is truly what I needed to learn to take our business to the next level. Knowing that would have allowed our business to potentially scale faster than we already have.”
How can people connect with you online?