Here’s a quick exercise:
Would you rather own a $1 million lawn care company running a 20% margin, or a $500,000 company with a 40% margin?
When it comes to growing your service business, Phil Sarros believes too many entrepreneurs are focusing on top line growth. More trucks, more equipment, more jobs— you know the drill.
But top line growth is a dangerous game, especially if you’re letting unprofitable jobs eat up your time, resources, and energy.
In this talk from IMPACT LIVE 2019, Phil shares how he cut his business’ revenue in half without losing any profit. How? By being intentional about his numbers, accurate in his quotes, and focusing all of his energy on “profit monsters:” profitable jobs that drive true bottom-line growth.
- How to identify and eliminate unprofitable jobs
- An exercise to calculate your cash flow from anywhere
- How to protect your business from liability as you take on larger jobs
- Foolproof formulas for materials, overhead, and labor costs
Watch the Full Video Below:
“Here’s why I became an entrepreneur: It’s the spirit inside of me. I didn’t ask for that spirit. I didn’t go online to learn about that spirit. It’s just something that stirred in me from the time I was eight years-old. You guys are not a normal bunch of people. Normal people are just sitting at home and were going to their job. You guys don’t play it safe. Why? Because something is stirring inside of us, to grow, to learn new processes, to improve—most people don’t do that.” – Phil Sarros