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Why do some home services businesses stall out around $5 million, and others skyrocket to $50 million and more? With companies sharing the same economy, weather, and cities, there’s a reason some companies scale way past the competition.
On today’s episode of To The Point, hosts Chris Yano and Chad Peterman talk about what contractors are missing that’s keeping them from making the next big step in growing their businesses. Listen now!
The Shift from Operator to CEO
As Chad looks back at his journey taking Peterman Brothers from under $10 million to over $100 million, he notes that a major turning point to spurn that growth was when he started making the transition from acting as the operator into more of the CEO.
A lot of owners don’t realize that they’re stuck in the operator role, wearing way too many hats. If you’re a mid-sized company and you’re still running sales calls, you’re making a mistake. Your time should be spent working on the company and yourself, at least as much as possible. Figure out where your “zone of genius” is, stick to those roles, and bring on someone else to fill the gaps.
- Staying in your zone of genius
- Learning from larger companies where your gaps are
- The struggle for many owners to trust others to handle roles
- Why knowing where you want to scale to is an important first step
- How to hold your leadership team accountable without micromanaging
- Understanding the key metrics that drive the business forward
- How to best leverage calls during shoulder season
- The biggest marketing mistakes smaller companies make
- And more!
Want more Chris and Chad? Check out our episode on finding purpose in business and life!
The Biggest Mistake Owners Make
According to Chad, the biggest mistake owners make is that they depend on the people running the calls to get better. YOU, the owner, have to get better. If you’re not growing, you aren’t leading and setting the example for the rest of your team. It’s easy to say you’re too busy and forget about the leadership aspect, but you’re driving the culture of your business whether your hands are on the wheel or not.
Get clear on what you want your business to represent. Figure out the vision, the culture, and how your team should conduct themselves first. You aren’t just putting in another furnace or fixing another water heater. You’re figuring out how to do all of these things at scale. As the leader, your cap is the organization’s cap – focus on continuously learning as much as you can every single day.
Remember … NO. ZERO. DAYS.
