The Home Service Expert Podcast
Maximizing ROI: How to Make Strategic Business Investments that Pay Off
Nov 10, 2023
Keegan Hodges, co-CEO of Best Home Services and distinguished award recipient, shares his insights on strategic business investments. The conversation emphasizes leveraging existing customer bases before expanding. Keegan discusses the importance of mentorship and time management in navigating early entrepreneurial challenges. He explores the impact of economic shifts and rising interest rates on business valuations. Lastly, he underscores the vital connection between health and success, advocating for wellness as a foundation for personal and professional growth.
01:12:10
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Quick takeaways
- Focusing on maximizing existing customer relations before expansion can improve financial stability and enhance customer loyalty within service industries.
- Prioritizing health and wellness is essential for business leaders to sustain productivity and longevity, ultimately benefiting personal and professional engagement.
Deep dives
Maximizing Current Market Potential
Focusing on growing within an existing market is essential for businesses, particularly in service industries like HVAC. Companies should not rush to expand into new areas or services until they have fully capitalized on their current customer base. This strategy involves maximizing the use of existing resources and customer relationships before branching out, which can lead to better financial stability and customer loyalty. By nurturing and extracting value from the current market, businesses can sustain growth and develop a strong foundation for future expansion.
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