Transitioning from HVAC to Electrical Services: Strategies for Growth

Episode Summary:

In this episode, we sit down with Steve Holland, an industry veteran who built and sold a successful home services business. Steve shares his journey from starting with nothing to scaling a multi-million-dollar company, offering actionable advice on branding, employee culture, and competing with private equity-backed companies. Whether you're a small business owner looking to scale or an industry veteran navigating growth, this episode is packed with game-changing insights.

🔹 Episode Timestamps & Key Takeaways:

[00:00] – Introduction

• Welcome to the episode!
• Introducing Steve Holland and his background in HVAC, electrical, and home services.
• Steve’s journey: From a challenging upbringing to launching a successful business.

[06:30] – Getting Into the Trades & Launching a Business

• How Steve got started in HVAC by taking a $3/hr pay cut to work in the trades.
• Lessons learned from early struggles, including quitting a stable job to take a risk.
• The story behind launching Mr. Holland’s Heating, Air & Electric in 1997.

[12:00] – The Power of Branding & Radio Advertising

• The impact of branding on business growth.
• Steve’s experience working with Roy Williams (Wizard of Ads) on radio ads.
• How radio marketing helped build a recognizable home services brand.
• The long-term ROI of branding and why it takes patience.

[20:00] – Lessons on Scaling a Business the Right Way

• Scaling is a buzzword, but why it’s not for everyone.
• Fix operational inefficiencies before scaling.
• Why focusing on gross margins and net profit is crucial.
• Steve’s biggest scaling mistake: Holding back due to fear of risk.
• The power of acquisitions and how he used small mom-and-pop shops to grow.

[30:00] – Why Employees Are Your Most Valuable Asset

• The most expensive customer isn’t the homeowner—it’s your employees.
• The shift from “customer-first” to “employee-first” culture.
• The importance of genuinely knowing your employees and their families.
• Why retaining employees is more cost-effective than constant hiring.

[38:00] – Culture & Leadership: How to Retain Top Talent

• Employees want more than money—they want to feel valued.
• How private equity often misses the mark on culture.
• The Culture Club initiative at Steve’s company (empowering employees to shape culture).
• Steve’s approach to helping struggling employees (personal engagement vs. spreadsheets).

[45:00] – Competing with Private Equity & the Big Players

• How private home service businesses can win against PE-backed competitors.
• Why outworking the competition is key.
• The advantage of nimble, locally owned companies in customer service.
• The risks of PE firms prioritizing profit over people and how to stand out.

[50:00] – Final Thoughts & Advice for Home Service Business Owners

• If you’re scaling, ask yourself why before jumping in.
• The importance of long-term vision over short-term gains.
• Steve’s openness to helping other business owners through consulting.
• Closing thoughts from Chris & Chad.

📌 Resources & Mentions:

🔹 Roy Williams’ Wizard Academy (Branding & Advertising)

🔹 AirTime 500 – Contractor Business Growth

🔹 Steve Holland – Connect via LinkedIn: https://www.linkedin.com/in/steve-holland-91073315/

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🎙 Stay tuned for more business growth, leadership, and marketing strategies in the home services industry!