Inspired Or Acquired Nathan Lindley - HVAC Struggles To Success
Sep 26, 2025
Nathan Lindley, the owner of Done Right, dives into his rollercoaster journey in the HVAC industry. After nearly going broke twice, he has successfully completed nine acquisitions, focusing on professionalizing small businesses. Nathan shares insights on scaling through branding consolidation, managing financial performance, and overcoming early operational hurdles. He emphasizes the importance of cash flow and routine metrics while discussing future growth plans beyond Texas. Discover his unique approach to valuing businesses and navigating a competitive market.
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From Publishing To HVAC Roll-Up
- Nathan moved from Portland to Dallas and closed his first HVAC deal in February 2020 to buy an existing business instead of starting from scratch.
- He sought a consulting HVAC partner and learned the industry by acquiring small residential companies and professionalizing them.
Near Bankruptcy Sparked A Commission Pivot
- Nathan nearly ran out of cash multiple times and lost investor capital before pivoting compensation to straight commission.
- One commission technician drastically outperformed others and proved the model, giving Nathan measurable gross profit margins.
Align Pay To Revenue And Target 50% GP
- Do align technician pay with revenue by using straight commission to clarify gross profit per call and motivate performance.
- Do iterate pricing and compensation until gross profit reaches 50–55% rather than accepting low historical margins.