E196: Applying the Grow, No Grow Strategy to Make Over 20% Net Profit Consistently

Kim Archer is the Vice President of Coaching for Business Development Resources, Inc. and the lead trainer for BDR’s financial courses, Accounting & Office Management and QuickBooks for the HVAC Contractor. The architect of BDR’s Profit Launch business planning workshops, she created the templates used to produce hundreds of monthly financial statements, with combined client revenues over 1.8 billion dollars in annual client revenues.

In this episode, we talked about team building, coaching, leadership…

Show notes

• Introducing Kim Archer. [1:23]
• More information about Business Development Resources and Kim’s professional journey. [2:46]
• Growing pains, challenges in leveraging time for business owners, and the importance of having a vision for your business. [6:45]
• Understanding the value you bring to customers in order to be able to charge properly. [16:14]
• Getting out of the commodity market mindset. [23:10]
• Understanding the “Grow, No Grow” strategy. [26:20]
• The cycle of growing a business, and where many businesses make mistakes in doing so. [32:15]
• Growing to a plan. [35:30]
• The benefits of having an organizational chart as a reference and as something that you share with the team. [37:10]
• The disadvantages of being a jack-of-all-trades in business. [40:26]
• The difference between training and coaching. [43:36]
• The importance of scorecards in every department. [46:26]
• The usual reasons why breakdowns of communication happen in a team. [49:55]
• A client story illustrating the power of “educate, inform, and offer.” [53:21]
• How to get more information about Kim. [57:27]
• Three books on Kim’s reading list. [58:20]
• Kim’s most important piece of advice to home service business owners. [1:00:41]

Resources And People Mentioned:

• Business Development Resources
• Simon Sinek
• Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow
• Jay Abraham
• Facebook
• Profit First by Mike Michalowicz
• The Five Dysfunctions of a Team by Patrick Lencioni
• Mastering Private Equity: Transformation via Venture Capital, Minority Investments and Buyouts by Claudia Zeisberge
• The Leadership Challenge by Barry Posner and James Kouzes
• Basic Economics: A Citizen’s Guide to the Economy by Thomas Sowell
• Traction by Gino Wickman
• Out of the Crisis by W. Edwards Deming
• The Private Equity Playbook by Adam Coffey