Through my extensive experience in the home service industry – running a contracting business, producing a podcast for contractors, managing a contractor community group, and working with other contractors in general – I realized there are certain problems at various company sizes. In this episode, we’re focusing on businesses that are around the 900k to 1m per year revenue or what I like to call the key man operations. Key man operations are ones where the owner or owner figure mainly runs the business.
Hit play to learn what these problems are and the solutions to each one of them.
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02:06 No defined services
- Why you need to have specific services to target
- What larger operations do differently
03:32 Lacking project standards
- What we do in my own business
- Mistakes key man operations do
07:21 Field service management software
- What a field service management software is and its importance
- The inefficiency of not having one
- What I use and other software recommendations depending on your trade and size
11:20 Recruiting and hiring employees
- Why having an office is crucial
14:10 Premium branding and selling
- 2 types of branding
- Benefits of having a good website and vehicle wrap
18:10 The key man
- Poor time management is the biggest challenge of the key man or owner figure
- Tips for how to manage your time better
21:53 Pricing
- Pricing yourself in line with your big market
- Debunking the misconception that small operations can’t charge higher rates
- Defining target margin when you have defined services
This can be a much bigger discussion. As I said, there are certain problems and solutions within different company sizes. Watch out for possible future episodes like this tackling problems and solutions for larger operations.