Episode 350 – Tips to Grow Business to Full-time
Today we’re talking with Dell from Quality First Services! Dell is currently cleaning 50% of the time and is looking to grow his business so he can shift out of cleaning.
The first thing Dell needs is a plan for growth. Dell needs to ask himself, what income does he need to make in order quit? Once he has outlined this number, he can figure out how to create a plan that supports it.
A great starting point is to estimate that your net profit is going to be 20% of your gross revenue. This means that if Dell wanted to make $10,000 net profit each month, he would need to make $50,000 in gross revenue per month.
From here Dell can figure out how many new clients he needs in order to reach this goal. For example, if Dell has $5,000 in clients right now, he needs $45,000 in new clients. Let’s say his average customer value is $1,000 per month. His goal would be to acquire 45 new clients.
Dell can then decide the time frame for reaching his goal and figure out how many clients he needs to acquire monthly to achieve is net profit goal.
Lastly, Dell needs to create two main funnels that will be the backbone of his business. The first funnel is going to be a lead generator that automatically brings in new clients. The second system is an employee generator that consistently brings in prospective employees. This funnel ensures you always have people ready to clean if several employees quit at once, you grow faster than you imagined, etc.
Resource Alert: Five Shifts To Take Your Cleaning Company To The Next Level
Best advice you’ve received either personally or professionally?
Don’t be afraid to go for it.
What’s the biggest mistake you’ve made in the cleaning business we can all learn from?
Not building a strong, reliable team.
What is your favorite book?
Your Wish Is Your Command By Kevin Trudeau