Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast #163 - From $7 Million to $140 Million: The Ultimate Blueprint for Growth
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Jan 23, 2025 Get ready for insights on scaling businesses from $7 million to a whopping $140 million! Discover the power of budget planning and the impact of a solid SWOT analysis. The hosts emphasize the importance of strong accounting practices as key to growth. You'll hear about effective team communication, the necessity of diverse revenue targets, and the transformative effects of strategic partnerships. Plus, learn how regular data reviews keep you ahead in the game and lead to impressive growth in the plumbing, electrical, and HVAC sectors!
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Conducting a SWOT
- Conduct a SWOT analysis by dividing it into strengths, weaknesses, opportunities, and threats.
- Focus on internal weaknesses and opportunities for improvement, while considering external threats.
Yearly Planning Breakdown
- Determine a realistic yearly revenue goal and break it down by department, service type, and lead source.
- Consider historical data, monthly percentages, and required resources like technicians and marketing spend.
BHAG Examples
- John and Jack's companies set ambitious 10-year revenue goals, initially $100M and $20M respectively.
- Despite starting at $7M and $1.5M, both companies are making progress toward their BHAGs (Big Hairy Audacious Goals).