Starting and growing a painting business is no easy feat. In this article, we share the journey of a painting business owner who went from zero dollars to a million dollars in revenue. It was not a smooth ride, but there are valuable lessons to be learned along the way. We'll share how this business owner made money without much money, never-ending lead flow, specialized team structures, and stopped being cheap to ensure success. We'll also reveal how they lost money along the way, and how you can prevent this from happening to your own business.
1. Making Money Without Money:
The key to scaling a painting business from the very beginning is to find ways to make money with little or no money. This means bootstrapping the business by marketing without spending money. Utilizing Google, reaching out to commercial contacts and realtors, working with your personal network, and door-knocking are just a few ways to generate leads without breaking the bank. The goal is to get one to three jobs to start, allowing you to use deposit money to fund business costs upfront.
2. Never-ending Lead Flow:
Having a never-ending lead flow is essential to scaling your business. Keep utilizing the low-cost methods that worked at the beginning, even when you can afford to spend more on paid advertising. Create a system that generates consistent leads and continuously work on converting those leads into paying customers.
3. Specialized Team Structures:
Once you have a steady lead flow, it's time to implement specialized team structures. Divide your company into different sections based on project types, such as interior painting, exterior painting, cabinet painting, and pressure washing. Place team members in the division where their skills and strengths are best suited. This specialization leads to increased efficiency, better SOPs, and improved organization.
4. Stop Being Cheap:
Once your business is growing and generating more revenue, it's crucial to stop being cheap. Invest in your team by hiring and retaining high-quality employees, even if it means paying them more. Additionally, spend money on improving your systems, such as automation, CRM systems, and marketing.
Scaling a painting business from zero to a million dollars in revenue is an exciting and challenging journey. By making money without much money, generating a never-ending lead flow, implementing specialized team structures, and investing in your team and systems, you can overcome obstacles and ensure the growth and success of your business.