Show notes
In a service business, growth can be a double-edged sword. On one hand, it's great to see your company expanding and taking on new clients. On the other hand, growth can put a strain on your resources, making it difficult to maintain the same level of service.
That's why it's important to focus on efficiency when you're trying to save money and improve profitability. In other words, rather than simply raising prices, look for ways to cut costs and increase productivity.
For example, you might consider offering extended warranties to your customers. While this can be beneficial for companies, self-warrantying can cause issues with valuation if not done correctly.
In this episode of Service Business Mastery we discuss:
- How focusing on improving efficiencies within a company can help save money and improve profitability, rather than simply raising prices.
- When considering changing pricing, businesses should look at their overall financial state and make data-driven decisions.
- Why offering extended warranties can be beneficial for companies, but self-warranting can cause issues with valuation if not done correctly.
The bottom line is that when it comes to pricing, businesses should look at their overall financial state and make data-driven decisions. By taking a strategic approach to pricing, you can ensure that your service business remains profitable as it grows!
Check out these resources we mentioned during the podcast:
Meet the Hosts:
Tersh Blissett is a serial entrepreneur who has created and scaled multiple profitable home service businesses in his small town market. He's dedicated to giving back to the industry that has provided so much for him and his family. Connect with him on LinkedIn.
Joshua Crouch has been in the home services industry, specifically HVAC, for 8+ years as an Operations Manager, Branch Manager, Territory Sales Manager and Director of Marketing. He's also the Founder of Relentless Digital, where their focus is dominating your local market online. Connect with him on LinkedIn.
Meet the Guest:
Billy Stevens began his professional career in 1996 with Berkeys, an HVAC and plumbing business based in South Texas. Billy purchased Berkeys in 1996.
Not having much experience in the trades allowed him to look outside of the box as the company grew.
Billy cleaned up the image of plumbers and implemented other time saving strategies. These things seem ordinary now but no other companies were doing this at the time.
One important thing Billy learned at Berkeys: Dispatchers are pulled in every direction... by technicians, CSRs, managers, owners, customers & support staff.
Compounding the problem, current software requires even MORE staff.
The key obstacle to growth is the chaos in the office. Industry software is fundamentally flawed... It not only ignores the chaos, it compounds it!
And nobody has created a viable solution!
Until now.
Enter: **drum roll** .... ServiceSHIFT!
Links to content here:
LinkedIn: https://www.linkedin.com/in/billy-stevens-a54a1819/
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