Powered Now CEO, Benjamin Dyer, offers valuable insights on how to successfully grow a one-man band business into a larger company with employees. He shares tips and advice for those looking to expand their business and achieve greater success.
While lifestyle businesses may be appealing, Dyer recognizes that not everyone wants to remain a sole trader or run a small installer business for the rest of their lives. Instead, they dream of growing their company and seeing it prosper.
However, Dyer cautions that expanding a business is not an easy feat and requires certain skill sets. A strong ability to estimate and price jobs, along with building rapport with customers, are essential for success. Without these skills, it can be challenging to grow a business.
When it comes to growing a business, many assume that finding new customers should be the top priority. While word-of-mouth recommendations are still a significant source of business, Dyer notes that approximately 30% of business comes from other sources such as the internet. He advises exploring various online channels, such as Facebook, Google, Rated People, My Builder, Checkatrade, and more, to reach potential customers.
Dyer acknowledges that marketing can be challenging, but emphasizes the importance of converting leads into orders. He suggests focusing on building trust with potential customers by being professional, courteous, and timely with quotes. Dyer also stresses the importance of not underpricing jobs and instead, providing a detailed quote with photos of previous work to establish credibility.
Taking on the first employee can be both the hardest and riskiest step for a business owner. Dyer suggests building up the business using subcontractors before hiring permanent employees to minimize risk. He also recommends seeking advice from experts in areas such as payroll and HR to navigate the complexities of hiring employees.
Once a business has found the right formula for growth, there are still challenges to consider, such as investing in various areas, managing cash flow, and maintaining control and efficiency. Dyer advises business owners to focus on people management and implementing the right systems to stay in control and grow efficiently.
As a business grows, Dyer notes that the owner’s role must also change to avoid becoming the bottleneck for further growth. Delegating tasks, managing managers, and envisioning the company’s overall strategy are critical skills for transitioning from a successful business to a very successful one.
In conclusion, Dyer reminds business owners that while running a successful business can be fulfilling, it is essential to ensure that the business is profitable enough to make the hard work and challenges all worthwhile.
About the Author:
Benjamin Dyer is the CEO and co-founder of Powered Now, a company that specializes in apps designed to help installers and other trades manage their teams and businesses. With his extensive knowledge and experience, Dyer offers valuable insights and advice to help businesses grow and succeed. For more information, please visit www.powerednow.com.
Distributed by https://pressat.co.uk/.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.