The Essential Guide to Growing Your Plumbing Business- Episode #419

SHOW NOTES

Starting and running a successful plumbing business requires more than just technical expertise – it requires strategic planning, effective management, and a clear vision for growth. 

So if you’ve been trying and failing to grow your plumbing business, then you’ve come to the right place. 

Here are three key elements that are essential for growing your plumbing business.

Find the Right Purpose:

The first step in growing your plumbing business is to find your ‘why’ – as in the reason behind why you started your business in the first place. 

Your purpose should be more than just making money because it needs to be something you should quantify. It needs to be something that inspires and motivates you every day. 

So instead of simply wanting ‘money,’ ask yourself, WHY do you want to make money?

Is it to help your family? To put your kids through better education? To travel the world with your family?

Why are you working? Because it can’t just be about wanting to plumb. 

That’s not something you’re truly passionate about, and it won’t motivate you to get through the tough days.

So, forget about just wanting to make money. Think hard, and find the reason why you want to not only start a plumbing business but also to grow it.

Find the Right People:

It’s important to hire the right people, yes.

But what’s even more important is to find the right customer. And that’s what we mean by the right people.

Because you can’t grow your plumbing business if you’re serving the wrong crowd. And what’s the right crowd, you ask? It’s in residential plumbing.

So, if you’re still serving new construction – stop! Now! Residential plumbing is where the real money is, and it’s how you grow your plumbing business.

Why? Because there’s always going to be a Mrs. Jones who needs her toilet fixed. And unlike contractors, she’ll pay you TODAY. And that way you always have cash to fund your business. You also get to serve someone who truly appreciates your service and will refer you to her friends and family.

So remember, if you want to grow your plumbing business into a successful, thriving business – choose residential plumbing!

Get the Right Process:

The third and final key to growing your plumbing business is to get the right processes. 

And you do that by first operating from the mindset that you will sell your plumbing business – because even if you’re not planning on selling right now, you will want to in the future.

And no one wants to buy a business that’s dependent on its owner. So, if you want to grow your plumbing business to the point that you can sell it, you need a business that’s self-sustaining and can operate without you being in the office 24/7 overseeing everything.

How do you get to that point?

The first step is to use the right power tools. And if you need help identifying these tools, we’ve got a handy list right here!

The next step is to streamline your operations and maximize efficiency. Hire general managers you can trust and who can act as a buffer between you and your techs. 

Then, take the time to evaluate your current workflows and identify areas where you can improve and automate tasks.

By implementing standardized processes and utilizing technology tools, such as scheduling software or accounting platforms, you can free up time and resources to focus on growing your business.

Growing your plumbing business requires a combination of purpose, people, and processes. By finding your why, serving the right customer, and optimizing your operations, you can create a solid foundation for long-term success and sustainable growth. 

So take the first step today and start implementing these strategies in your business. With dedication, hard work, and the right approach, you can achieve your goals and take your plumbing business to new heights.

Richard’s Call to Action

Need a little more help? Why not join the Million Dollar Plumber Success Academy and learn everything you need to know to grow your plumbing business and have a life too–all from the comfort of your home!

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