Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast

#79- Infrastructure Breakdown: Key Roles for Growth from 3 to 20 Million

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.

35:55

Creator website

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Hiring a controller at the $10 million revenue mark is crucial for stability and preventing errors in the accounting department.

Investing in infrastructure roles like accounting, AP, AR, payroll, and credit management is essential to avoid growth limitations and prevent theft.

Deep dives

Investing in Infrastructure: Hiring Ahead of Revenue

As businesses in the home service industry grow, it is essential to invest in infrastructure and support staff. Owners should be proactive in hiring key roles before revenue growth starts to bottleneck. A critical milestone is reaching the $10 million mark, which calls for hiring a controller. This hire professionalizes the accounting department, prevents mistakes, and allows for better reporting. By separating money in and money out functions, owners can ensure better financial control. It is crucial to invest in infrastructure roles like accounting, AP, AR, payroll, and credit management to avoid issues that can hold back the business.

Introduction

2min

Casual Conversation about Weather, Skiing, and Holiday Plans

2min

Comparing Plumbing and HVAC Sectors in Their Business

2min

Infrastructure Breakdown and Key Roles for Growth

4min

Investing in Infrastructure Roles

13min

Investing in Key Roles for Growth

13min

Join John and Jack in this episode as they discuss the essential core of any business: support staff. They talk about the evolution of your accounting team as your revenue grows from 3 to 20 million. Prepare to learn about smart hiring in accounting and why it's not just about filling seats but finding the perfect fit for your growing venture. From proactive recruitment strategies to the real deal about theft prevention, they share practical tips for handling business growth like pros. This episode acts as a valuable roadmap for business owners. Tune in as they highlight often overlooked yet essential roles that can lead to a thriving future in your business journey.

Episode Hosts:

John Wilson: @wilsoncompanies
Jack Carr: @thehvacjack

Special thanks to our sponsor: Service Scalers: Looking to scale your home service business? Service Scalers is a digital marketing agency that drives success in PPC and LSA. Discover more growth strategies by visiting Service Scalers.

Check out Owned and Operated Weekly Insights: a newsletter where John discusses topics ranging from recruiting and marketing to the growth of your home service business. Subscribe to the newsletter here.

Contact us:

Youtube: @OwnedandOperatedPodcast

X: @ownedoperatedco

www.ownedandoperated.com

info@ownedandoperated.com

Contact Owned and Operated:

More Ways To Connect with O&O

Leave a Review

John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC