Hardscape Growth Building a Successful Contracting Business with Mark from LMN
In this week's episode of the Hardscape Growth show, we have Mark Bradley, CEO of LMN Landscape Management Network, shares insights on building a successful contracting business in the green industry. He emphasizes the importance of focusing on revenue per man hour and explains how it can drive profitability. Bradley also discusses the challenges of diversification and the need for businesses to stay focused on their core expertise. He highlights the role of fear in hindering business growth and provides strategies for overcoming it. Additionally, he emphasizes the significance of marketing investment and the opportunities and challenges in the industry's current landscape. In this conversation, Mark Bradley discusses considerations for exiting a business and the various options available. He highlights the importance of understanding the factors that affect valuation, such as the type of work and revenue volume.
Key Takeaways
- Focus on revenue per man hour to drive profitability in the contracting business.
- Overcome fear by developing a clear financial plan and understanding your business's financials.
- Invest in marketing to attract the right customers and employees and continuously improve your business. When nearing the end of your career and considering an exit strategy, be aware of the different options available beyond industry consolidation and private equity.
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