Ken Goodrich is the President and CEO of Goettl Air Conditioning, and a renowned expert in the field of negotiations, mergers, and operations development. With over three decades of experience in HVAC, plumbing, and contracting business acquisitions and development, Ken’s specialty is in building up businesses by forming growth-oriented teams with excellent leaders and the right priorities. Throughout his career, he has established and sold eight successful companies. He is also a bestselling author, and a member of various local and national trade organizations.
In this episode, we talked about Customer Database, Marketing, Pricing…
- Introducing Ken Goodrich. [0:29]
- Ken’s journey to where he is today. [1:06]
- How to know exactly how much profit is “right.” [10:51]
- Why you should be working on improving your gross profit, among all your numbers. [13:29]
- How technology and automation can change commerce in the coming years, and the opportunities that will come as a result. [15:12]
- How Ken cultivates business relationships, and his approach to business acquisition. [19:40]
- Why it’s important to treat all entrepreneurs, especially those looking to sell their failed business ventures, with respect. [27:59]
- How to go about buying a business when the owner wants more than it’s actually worth. [38:16]
- What it’s like to have an MVP on your team. [45:26]
- Ken’s mentality and approach when it comes to marketing. [50:12]
- Why referrals really matter. [55:42]
- A step-by-step guide to make your database worth a ton of money. [1:01:43]
- How to choose the right business to acquire. [1:06:08]
- Your biggest obligation as CEO. [1:07:58]
- How to manage your “shoulder seasons.” [1:10:21]
- Ken’s thoughts on a few must-read books for professionals in the industry. [1:13:06]
- Three books on Ken’s reading list. [1:26:00]
- Ken’s most important piece of advice to home service business owners. [1:30:39]
Resources And People Mentioned:
- The E-Myth HVAC Contractor by Michael Gerber and Ken Goodrich
- Website: Goettl Air Conditioning
- Terry Nicholson
- Jim Abrams
- Zig Ziglar
- Angie’s List
- Home Advisor
- Ellen Rohr
- Roy Williams
- HVAC Spells Wealth by Ron Smith
- Doc Rusk
- The Power of Positive Pricing by Matt Michel
- Service Roundtable
- The Ultimate Sales Machine by Chet Holmes
- How to Win Friends and Influence People by Dale Carnegie
- Napoleon Hill
- The Automatic Customer: Creating a Subscription Business in Any Industry by John Warrillow
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Ken Goodrich mentioned a intital letter he uses when looking for acquisitions. Any chance you guys have access to the letter? I believe he said he was going to provide it so it could be posted with the podcast notes.
I would be interested in that letter also.
I would be interested in letter as well.