Think Like an Owner On Revenue Quality with Bradley Roofner and Logan Brown - Ep.145
My guests on this episode are Bradley Roofner and Logan Brown, who together, along with a third partner Kade Thomas, acquired WLE, a landscaping firm in Austin, Texas, in 2017. After nearly four years of operating, they sold the company to Brightview, a public landscaping company and one of the largest in the country.
Our discussion today focuses on revenue quality, a topic Bradley and Logan have given a great deal of thought to. We talk about defining revenue quality and how to identify high and low quality revenue, creating your ideal customer profile, how to sell that customer building a motivated sales organization, emphasizing high quality revenue across an organization, writing more valuable customer contracts, and various tips they have for CEOs looking to boost revenue quality and thereby their company's valuation. Enjoy.
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Topics:
(2:44) - What was the business you ran in Austin?
(4:29) - What would you say are some aspects of high-quality revenue and aspects of low-quality revenue?
(6:57) - Was there any revenue that wasn’t as clear cut to be either high or low quality?
(8:35) - How did you beef up the quality of revenue in your first 90 days?
(15:350 - How did you go about determining who your ideal customer would be?
(19:38) - What decisions are made based on the ideal customer profile?
(28:09) - How did you build out your outside Sales Org?
(31:31) - Did you have more success hiring people for Sales that had industry experience or Sales experience?
(33:15) - How did you instruct Sales people to navigate price increases?
(35:01) - Was your Sales Team compensated based on margin?
(36:07) - What were some levers in cash and collections that improved Quality of Revenue?
(44:04) - Did you find that as Quality of Revenue increased, the number of customers in collections decreased?
(46:40) - Did you find some interaction between construction and maintenance?
(50:47) - How did you go about measuring the conversion rate from low to high quality revenue?
(53:11) - How did Quality of Revenue impact your lives?
(59:11) - What advice would you offer CEO’s looking to do general clean up in their business?