Steve Holland, an industry veteran who built and sold a successful home services business, shares his incredible journey from humble beginnings to a multi-million-dollar venture. He discusses the importance of branding, detailing how strategic radio advertising propelled his company's growth. Steve dives into the nuances of scaling a business, emphasizing internal efficiency and genuine employee engagement. He also highlights the critical role of company culture and effective communication in outpacing competitors, providing actionable insights for business owners.
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volunteer_activism ADVICE
Scaling Advice
Ensure operational soundness, including proper pricing and strong margins, before scaling.
Fix inefficiencies before scaling to avoid compounding problems.
question_answer ANECDOTE
Company Growth and Expansion
Steve Holland's company grew to a $10-12 million run rate before he sold it in June 2021.
He initially focused on HVAC, later adding electrical services due to high subcontractor costs.
question_answer ANECDOTE
Steve's Entry into HVAC
Steve Holland grew up in a dysfunctional family, lived in 15 homes by 16, and took a $3/hr pay cut to work in HVAC.
He bought a retiring HVAC technician's company for $10,000, starting his business while his wife was pregnant.
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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.
To The Point - Home Services Podcast