There is a catchy phrase in business: Revenue is vanity, profits are sanity, and cash is king.
In other words, bigger is not better.
I agree with this in theory BUT did you know that there are companies in the landscape industry that have become much more profitable as they got bigger?
Drost Landscape from Petoskey, MI, (host of my Summer Growth Summit) is a shining example.
When I first met them, they were around 5M and low-profit.
After I started working with them, their profits grew and their top line revenue really took off.
Now they are one of my larger and most profitable clients by far!!!
There is a catchy phrase in business: Revenue is vanity, profits are sanity, and cash is king. In other words, bigger is not better. Click To Tweet
What Makes DROST Unique? And High Profit?
Some examples from their 2020 playbook:
- Last year was their best sales year, and this year they have pushed ahead even further. They never rest on their laurels.
- Three recent leadership hires that have made a big, positive impact on their culture. They are always looking for new teammates to raise the bar further.
- Recruiting from Puerto Rico is successfully filling the gaps. Some companies struggle with this strategy, but if you focus on getting smarter, you can get ahead of the pack.
- They lost a key leader, but because of their depth, they can roll with the punches. They know you can’t win every battle, but you can still win the war, if you learn from every loss.
- A Team Development Manager was added, to help every department onboard and develop their employees. They put their money where their mouth is, doubling down on people investments.
- They pay nice Profit Sharing, and still retain superior earnings. They are budgeting to do an even higher profit % this year. They know how to implement win-win math to propel the company forward.
Visit DROST And Learn Their Secret Sauce
Drost is the host of the Summer Growth Summit in August.
Go here for a detailed agenda and to register.
Enjoy the in-depth facility tour, superior education and networking opportunities.
Your Challenge: Getter Better AND Get Bigger
Don’t aim to be larger; rather, aim to be better and more profitable. Use both the cash flow and efficiency to drive your growth.
Revenue is indeed vanity, unless it’s coupled with increased profits and cash flow.
Regards,
Jeffrey
Crush it this Spring!
