Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast #79- Infrastructure Breakdown: Key Roles for Growth from 3 to 20 Million
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Dec 26, 2023 Join John and Jack in this episode as they discuss the evolution of the accounting team as a business grows from 3 to 20 million. They share practical tips for smart hiring, proactive recruitment strategies, and theft prevention. The podcast highlights often overlooked but crucial roles for a thriving future in your business journey.
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Hire Accounting Ahead of Revenue
- Hire accounting roles ahead of revenue growth to avoid business stalling.
- Investing early in infrastructure like AR and AP staff enables smoother scaling and avoids operational bottlenecks.
Can't Afford Needed Positions
- Small to mid-size companies often can't afford crucial roles until problems arise.
- This causes a stuck growth cycle where needed infrastructure lags business needs.
Separate AR and AP Early
- Separate money in (AR) and money out (AP) tasks early as your business grows.
- This separation is vital for risk management and operational clarity.