Ken Goodrich is an expert in business process, negotiation, mergers and acquisition, business planning and operations management. As CEO of Goettl, he is widely recognized by organizations such as the Las Vegas Business Press, Top 40 Under 40 Professionals, and the Business Professional of the Year Success Club. He has been successful at flipping companies and has nearly 3 decades of experience in acquiring, integrating and developing HVAC, plumbing and contracting businesses.
In this episode, we talked about business acquisition tips and signals, understanding your cash flow, hiring from outside the industry, effective employee training…
Show notes
- Introducing Ken Goodrich. [00:50]
- Personal health and breaking old habits. [02:23]
- The positive effects of staying healthy. [05:00]
- Self discipline and the importance of business culture. [07:57]
- Learning how to do business wisely by educating yourself first. [12:02]
- Business acquisition know-how. [14:31]
- What to look for when buying companies. [17:51]
- Handling customer complaints on pricing. [21:41]
- What to consider when setting a price for your offerings. [23:08]
- The importance of bookkeeping and knowing your numbers to price right. [26:23]
- Pricing as an element of your market. [30:52]
- What makes a great hire. [35:47]
- How to know if you’re hiring right. [36:37]
- How to find great recruits outside of the industry. [40:55]
- Why providing good training is important. [51:02]
- Thoughts on branding and marketing. [58:01]
- Tips on buying a business to scale. [1:03:08]
- Pros and cons of keeping the previous business owner after an acquisition. [1:04:34]
- Sharing trade secrets. [1:08:06]
- The importance of team members in the success of your business. [1:10:58]
- How to deal with non-believers and naysayers. [1:14:01]
- Proven strategies to become successful at business acquisitions. [1:15:51]
- Reinvesting in your business and planning your end game. [1:22:04]
- Ken’s most important piece of advice to entrepreneurs. [1:26:34]
Resources And People Mentioned:
- Goettl
- American Residential Services
- Las Vegas Business Press
- Top 40 Under 40
- International Business Magazine
- I Am a Comeback
- E Myth by Michael Gerber
- Grant Cardone
- Tom Monaghan
- Domino’s Pizza
- The Power of Positive Pricing by Matt Michel
- Dan Antonelli
- Built to Last by Jim Collins
- Walmart
- Neiman Marcus
- Air Force
- Otis Elevator
- Craigslist
- McDonald’s
- Roy Williams
- Service Titan
- Housecall Pro
- Successware
- Service Nation Alliance
- Service Roundtable
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