Can't Stop the Growth
From $5 to $6.7M: Tom & Karen Balko’s Journey to Scaling a Home Services Powerhouse
May 8, 2025
Karen Balko, co-owner of Vector Services, discusses her journey from financial struggles to scaling a $6.7 million HVAC and electrical company in the Twin Cities. She emphasizes the power of servant leadership, sharing how answering customer calls at 2 AM has built trust. Karen highlights the importance of a strong brand and company culture in attracting talent. The couple's insights on navigating growth, personal anecdotes, and the humor in their challenges offer invaluable lessons for aspiring entrepreneurs in the home services industry.
37:44
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Quick takeaways
- The Balkos' journey highlights the importance of resilience and hard work in building a successful home services business from scratch.
- Their commitment to servant leadership and customer service helps foster a positive company culture that drives employee motivation and business growth.
Deep dives
Successful Partnership with Goodleap
The collaboration with Goodleap has significantly benefitted the business by providing effective consumer financing solutions. This partnership has not only helped to meet the growing demand for home services but has also resulted in substantial profit increases. With reduced financing fees, the business has been able to collect higher margins on each job completed. Goodleap has been recognized as the leading financing solution for home services and trades, driving overall growth for the organization.
