The Home Service Expert Podcast Ken Goodrich: Picking the Brain of the 9-Figure HVAC Maven
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Aug 13, 2021 Ken Goodrich, CEO of Goettl, is a titan in the HVAC industry, renowned for his skills in business process and acquisitions. He shares invaluable insights on acquiring underperforming companies and revitalizing them through effective leadership and strategic branding. The conversation highlights the importance of cash flow, hiring the right talent, and fostering team morale during transitions. Goodrich also discusses economic forecasts impacting the housing market and emphasizes a long-term investment mindset for sustainable business success.
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Prioritize Business Skills
- Focus on acquiring business skills before starting a company.
- Take management and accounting classes, and join best practice groups.
Acquisition Strategy
- Underperforming companies offer acquisition opportunities due to market saturation and ease of brand/culture change.
- They are less risky and costly compared to successful, established businesses.
Goettl's Vegas Success
- Goettl acquired a $4M Las Vegas HVAC business in 2016, rebranded, and implemented their systems/culture.
- In just nine months, they achieved $16M in revenue, quadrupling previous performance.
