Owner’s Corner: How do you turn $1,799 into $1,635,000 in one year?
I wanted to share a story with you about a recent client of ours. He is a pool contractor in Florida that had been in business for about three years. His business had been slowly growing but not at the pace that he wanted it to. He had a relatively good stream of business but it was mostly residential where the average job size was $15k to $20k. What he really wanted to do was crack into the large commercial market building pools for hotels and resorts. He knew he had the expertise but he lacked the capital to take on larger projects. Like most contractors he has to pay his material and labor costs while he is waiting to be paid. He could handle this on the smaller residential jobs but there was no way he could do it on a large commercial job. And like most entrepreneurs, his personal credit had suffered so that would be no help. Besides, he wanted to keep his personal finances and business finances separate.
