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New Contributor
- Joined
- Jan 10, 2014
- Messages
- 17
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$295
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User Power: 241%
Hey guys,
I've been reading the forum for a while, gained some great nuggets and wanted to introduce myself and tell you what I'm up to at the moment.
27 years old, and my family has a (location dependent) business services company. My mom started and runs the company. My dad has a job in another industry and is not involved.
My mom was the typical high performer in her field that felt she could start a business and do a better job. As the story goes she wasn't able to grow it beyond herself.
I went to school to study business and came back to work along side her. I don't necessarily have a passion for this particular line of work, but have a passion for building and growing a business and scaling it to a point where it can give me the funds for other projects or an exit for both of us.
When I was in school she tried to scale it outside of herself (adding a location) and wasn't able to set up the systems and processes necessary to so successfully. My role is working along side her, keeping her doing the things she's good at, taking over some of the bigger picture aspects, and working on growing the business.
The first location was strong enough to support all over head for both locations as I hired new people and picked up more accounts to make the other location profitable.
The last couple years I've spent time growing the secondary location, learning the industry, and working with financial consultants to learn where the business really is and planning where I want it to scale it to in the next couple years. As in most businesses (I hope) nothing is easy and commitment to consistency is the key.
Since starting I've helped grow things from about $3mm to about $5.2mm/yr. I'm at the point now where I really understand the ins and out, and feel comfortable telling people what needs to be done. I always felt like I was the bosses spoiled kid trying to tell people older than I what needs to be done.
Right now the current plan (next 18 months) is me on sales and overall systems/processes, and her being the cheerleader making sure work orders are completed on time. Our goals are to have each location at $5mm/yr, then add a third location, then add another location or additional service offering.
Thank you all for providing a place for learning, harsh realities, and growth
I've been reading the forum for a while, gained some great nuggets and wanted to introduce myself and tell you what I'm up to at the moment.
27 years old, and my family has a (location dependent) business services company. My mom started and runs the company. My dad has a job in another industry and is not involved.
My mom was the typical high performer in her field that felt she could start a business and do a better job. As the story goes she wasn't able to grow it beyond herself.
I went to school to study business and came back to work along side her. I don't necessarily have a passion for this particular line of work, but have a passion for building and growing a business and scaling it to a point where it can give me the funds for other projects or an exit for both of us.
When I was in school she tried to scale it outside of herself (adding a location) and wasn't able to set up the systems and processes necessary to so successfully. My role is working along side her, keeping her doing the things she's good at, taking over some of the bigger picture aspects, and working on growing the business.
The first location was strong enough to support all over head for both locations as I hired new people and picked up more accounts to make the other location profitable.
The last couple years I've spent time growing the secondary location, learning the industry, and working with financial consultants to learn where the business really is and planning where I want it to scale it to in the next couple years. As in most businesses (I hope) nothing is easy and commitment to consistency is the key.
Since starting I've helped grow things from about $3mm to about $5.2mm/yr. I'm at the point now where I really understand the ins and out, and feel comfortable telling people what needs to be done. I always felt like I was the bosses spoiled kid trying to tell people older than I what needs to be done.
Right now the current plan (next 18 months) is me on sales and overall systems/processes, and her being the cheerleader making sure work orders are completed on time. Our goals are to have each location at $5mm/yr, then add a third location, then add another location or additional service offering.
Thank you all for providing a place for learning, harsh realities, and growth
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