To the Point Home Services Podcast

The Home Services Podcast That Gives Back

Episode 203:  How to Build a Bottoms-Up Budget Your Team Owns (and Succeeds with)

January 9, 2024

Episode 203: How to Build a Bottoms-Up Budget Your Team Owns (and Succeeds with)

Published: January 9, 2024
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Now that 2024 is here, it’s time to reflect back on last year. 2023 was definitely a year that marked the end of those “unicorn years” during the height of the pandemic. It’s no longer enough just to exist as a contractor – you’re going to have to be better.

Following our theme, we’re excited to bring on Chris Hoffmann for his second appearance on To The Point! Chirs is CEO of Hoffmann Brothers, and joins the podcast to talk about how to improve your budgeting approach for 2024.

Bottom-Up Budgeting

Until last year, we had a good period of time where you could get by without being a good operator. Leads were fast and easy, and few had trouble succeeding in such a high-demand landscape. Now? It’s going to take some real work.

There are plenty of things out of our control – the weather, the economy, interest rates…the list goes on. But we’re not interested in excuses! A big thing that we can control is budgeting properly. Chris speaks to the power of what he calls “bottom-up budgeting”. Instead of a top-down look, starting with each business unit and working your way up can be a gamechanger.

In this episode, we talk about:
  • The process and value of a bottom-up budgeting approach
  • Budgeting for both revenue and overhead
  • Having the right people on your team
  • Acquiring a family business with a different approach than typical PE groups
  • Where Hoffmann Brothers sits today
  • Why PE groups are experiencing a shake-up
  • Budgeting for your personal life, too!

Today, Hoffman Brothers is closing 2023 right around the 100MM mark. That’s almost double from where they were at the first time Chris Hoffman joined the podcast!

Same Things = Same Results

At the end of the day, there will be winners in 2024 – and those are going to be the people that take action. Don’t get too hung up on deciding what to do, just take these ideas and try implementing them! It will be work, but the end result can be your driver. The worst thing you can do? Nothing.

Cheers to a new year – and from our team at To The Point, we hope 2024 is your year!

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