James Sinclair's Business Broadcast Fear of Growth? The £25k/Month Electrical Contractor’s Challenge with Hiring and Borrowing Money
Jan 13, 2025
Sam, the owner of Avon Electrical, lifts the curtain on his experience running a £25k/month electrical contracting business. He shares his struggles with the fears of hiring and borrowing, crucial for scaling. The conversation dives into cash flow management and strategic growth, alongside the importance of a supportive team and mentorship. Sam also reflects on the evolving solar market and the need for adaptation. This insightful discussion balances humor with powerful lessons on overcoming mental barriers and embracing calculated risks.
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Sam's Story
- Sam inherited Avon Electrical from his dad after he passed away.
- He bootstrapped the company's growth, taking on apprentices and reinvesting profits.
Focus on Cash Flow
- Focus on bringing in cash flow and growing your business, not just operating it.
- Spend 80% of your time on business development and 20% in the business.
Customer Concentration Risk
- Customer concentration is risky; avoid relying too heavily on any single client.
- Diversify your client base to mitigate the impact of losing a major contract.