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Big Stud Podcast

Dec 23, 2020

BSS Podcast Ep. 64 – What does it take to get to that next plateau?

What does it take to get from that 1-million-dollar business to a 5-million-dollar business?

What are the similarities and what are some of the biggest topics that are covered when getting to the next level?

Many times, especially in the home service world, there are sticking points at certain monetary levels where you need to invest or stay stats quo. Often times, you may need to hire ahead of, in order to get there further down the line.

Ryan shares what he’s seen and has been a part in order to propel certain businesses into a new financial category. He says marketing, in terms of his wife’s business has helped them grow significantly. A 20-year-old company in a matter of 3 short years, updated and adapted their marketing efforts to double what they do today, versus what they did in years prior. Additionally, he attests by hiring more infrastructure and people ultimately helped with the success. The human resources hired to help with support and operations helped them take on more of the workload in order to steer the ship.

Mike shares that once your pipeline machine is established, the next step is to grow your headcount. A 5-million-dollar business could very well look like 10-15 people behind it. He advises as a business owner, to find the tasks you want to do, then hire out in order to offload the other duties and let your system grow. You have to be able to leverage your time to get out of some of the mundane tasks.

Furthermore, going from a $1mil to a $5mil business will require another whole layer of leadership (think Sales Manager, Operations or Production Manager,) or non-client facing personnel to continue to help the processes and procedures be as efficient as possible.

Try not to be afraid of failing forward or hiring out someone ‘smarter’ or more experienced in a certain role where you can grow with. They may bring valuable systems or processes to the table that you were not yet accustom to in order to grow your ecosystem.

If you have big goals for 2021, this is a great one to listen to in order to get you fired up and ready to take action! Tune in for more, please reach out with questions or reviews!

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