That's the question facing one contractor.
They are a small company doing mostly roofing and a little mitigation, but no rebuild, and no TPAs.
When they added TPAs and rebuild, in the words of the owner, he said in 12 months we generated "$650,000 in additional revenue the first year from TPAs alone … and we brought in an additional $250,000 in net profit!"
We all love to hear stories of successful contractors because it gives us hope that we might be able to achieve the same results. While we speak most often about revenue numbers, the big deal here is $250,000 OF NET PROFIT!
Its more important how much money we make, not how much we bring in.
What would you do with $250,000?
- Hire another staff
- Buy more equipment
- Pay off ALL your business bills
- Pay off ALL your personal bills
- Buy a new car
- Pay off your house
- Take that Mexico vacation
- Take a sizeable distribution for retirement
- Buy a houseboat (I did one year)
This is a grave question. It confronted this owner who decided to take steps to grow his business, and it could happen to you too if you decided to grow yours.
There was nothing special about this small company … other than the results when the owner decided to invest in his business's growth.