Each stage of running a small business in water damage restoration is thrilling, but there is something especially exciting about the success stage. This is the third stage of growing a company. It is a milestone marked by profit that outweighs expenses.
At this point, the work is consistent and your cash flow is healthy. This doesn’t mean it is time to relax! Instead, the success stage is a time to make big decisions about the future of your business as you approach new challenges that come with success and growth.
The Challenges of the Success Stage
At the surface, the success stage can seem like it is anything but challenging. Money is good, work is consistent, and you can finally afford the help you need to run your business without running yourself into the ground.
Don’t be fooled, there are certainly challenges that come with this stage. The biggest challenge for owners in the success stage of growing their business is creatively finding new sources of income. In an industry like ours, where repeat customers aren’t really expected, there is no relaxing when it comes to finding new leads.
This means this stage needs to be focused on implementing the systems that will keep your marketing strong, encourage referrals, and get the word out there about the work you do. Additionally, you will need seamless systems that enable your employees to manage influxes in business well so that all of our marketing efforts aren’t wasted by inefficient business practices that result in new leads turning elsewhere.
Opportunities of the Success Stage
This is your big break, you can finally step back from your business and let the managers you have trained run daily operations while you focus your energy elsewhere. This opportunity isn’t challenge free, however, because now is the time to decide what is next for your water damage restoration company.
Will you focus on maintaining your current profits and enjoy having a well run business? Or is now the time to dream up the plan for launching your business into the next phase of growth? The good news is, if you’ve done the hard work to implement systems and train your crew members, you should have the margin in your work-life to start thinking about and planning for whatever you decide to do next.
Moving on to the Next Stage
Before you can move forward to the next stage, you will need a plan for managing and funding the large jobs that will be a part of scaling your business. For many business owners, this next phase of business requires having resources like on-call workers, extra cash flow, and additional equipment that prepares you to say yes to big water loss projects at a moment’s notice.
There is nothing that excites us here at More Floods more than being a part of scaling a business. This is when a water damage restoration specialists starts growing by leaps and bounds, and we are thrilled to watch it happen. Members of our network will find the support they need to take their next steps, including operational systems and marketing resources that simplify each task ahead. To learn more about joining More Floods, click here or call 1-866-667-3356.