Home Service Business
Have you ever wished there were a road map showing you how to succeed in business? Especially the home service business?
I know so many home service business owners who find themselves trapped, working harder but not smarter, with no clear path to scaling their business and growing their profits.
Then I met Victor Rancour, who has grown multiple companies to millions in revenue. He found something that worked, and applied it over and over again. Now he’s coming on to the podcast to share his insights and lessons learned on his remarkable journey.
Learn how to transform your approach to sales, operations, and team building; turning your business from a stressful job into a profitable, scalable enterprise. Whether you’re doing $500,000 or $5 million annually, Victor’s actionable advice will help you unlock your business’s true potential and create the financial freedom you’ve always dreamed of.
What You’ll Learn…
- Why most home service businesses fail within their first five years
- How to succeed in business by mastering a repeatable sales process
- The critical importance of pricing yourself for the business you want to become
- How to grow your profits by treating your customer database like gold
- Why automation is the secret weapon for scaling your home service company
- The one thing that separates top-performing businesses from struggling ones
- Why confident communication matters more than natural sales talent
Key Moments…
[00:02] | How to Transition From Technician to Business Owner
[05:49] | Sales Training and Building Confidence in Sales Skills
[15:23] | Why 98% of Home Service Businesses Fail Within 10 Years
[22:26] | How to Succeed in Business by Pricing for Future Growth
[26:14] | The Importance of Sweeping Cash and Making Smart Financial Decisions
[29:40] | Top Grading: Hiring and Maintaining Only High-Performance Employees
[32:30] | Mining Your Customer Database for Untapped Revenue Potential
How to Transition From Technician to Business Owner
As a home service business owner, your journey begins with understanding that you’re no longer just a technician. Succeeding at business starts with shifting your mindset from doing the technical work to leading and growing your company. Many entrepreneurs begin by performing every task themselves, but true success comes from learning to step back and focus on strategic leadership. You must develop skills beyond your technical expertise, including sales, financial management, and team building. This transition can be hard, but it’s critical for scaling your business and creating a business that can thrive without your constant involvement.
Sales Training and Building Confidence in Sales Skills
If you want to learn how to succeed in business, then learning sales is a critical skill. This involves recognizing that not everyone is a natural-born salesperson, but anyone can improve their sales abilities. Start by practicing consistently, even if it feels uncomfortable at first. Focus on building confidence in your product and service. This is the key to transferring belief to potential customers. Do role-playing exercises with your team, create standard sales scripts, and continuously train yourself and your staff. Remember that sales is about communication and solving customer problems, not just pushing for a quick sale.
Why 98% of Home Service Businesses Fail Within 10 Years
The stark reality is that most home service businesses don’t survive their first decade. Learn how to succeed at business by understanding why so many fail and actively working to avoid the common pitfalls. The main reason for failure is often a lack of good sales systems combined with poor financial management. You need to have a consistent approach to selling that works in any condition and also have a solid operational foundation. This means understanding your numbers, creating efficient processes, and continuously improving your business model. Focus on building a sustainable business that can weather challenges and adapt to changing market conditions.
How to Succeed in Business by Pricing for Future Growth
Pricing strategy is crucial for your business’s long-term success. Price yourself for the company you want to become, not the company you are today. This means setting prices that support your future growth and overhead, even if it feels uncomfortable initially. Don’t be afraid to charge what you’re worth. This allows you to invest in your business, attract top talent, and provide exceptional service. Customers are often willing to pay more for quality and reliability, so focus on creating value rather than competing solely on price.
The Importance of Sweeping Cash and Making Smart Financial Decisions
Financial discipline is key to business survival. When you focus on how to succeed at business you quickly learn that implementing a cash management strategy forces you to make smart decisions. The concept of “sweeping cash” means regularly removing excess funds from your business account, which stops unnecessary spending and makes you rely on lean operations. Create a strict cash flow analysis, limit your cash reserves, and be disciplined about reinvesting in your business. This approach helps you make more strategic financial decisions and prevents wasteful spending.
Top Grading: Hiring and Maintaining Only High-Performance Employees
Your team is your most valuable asset. To protect the success of your business that means being ruthless about maintaining a high-performance team. Use a top-grading strategy where you continuously evaluate and upgrade your workforce. Don’t be afraid to let go of employees who aren’t driving your business forward. Look for self-motivated individuals who show initiative from the very first week. Remember that keeping underperforming employees can be more costly than finding the right talent.
Mining Your Customer Database for Untapped Revenue Potential
Your existing customer database is a gold mine of potential revenue. As you learn how to succeed at business you look for ways to create and use automated systems to keep past customers engaged. Every 1,000 customers in your database can potentially generate $2 million in revenue. Develop an automation strategy that keeps you in constant contact with your customers, sending follow-ups, maintenance reminders, and special offers. This approach reduces your customer acquisition costs and creates a steady stream of repeat and referral business.
About Victor Rancour:
Victor Rancour, a dynamic entrepreneur, venture capitalist, and visionary leader. As CEO of the Rocket X brands that help shape the trades in an ever-changing market, Victor stands as a testament to what the future of the trades can become as he continues to blaze his own path towards helping home service businesses grow! His journey in the HVAC industry began in 2015 as an HVAC technician, where he quickly developed a deep passion for sales. Excelling in this field, Victor earned the title of AirTime 500’s top-selling technician multiple times.
In 2018, Victor’s entrepreneurial spirit led him to establish Absolute Airflow in Southern California. Under his visionary leadership, the company experienced remarkable growth, scaling to over $65 million in residential replacement and service revenue, while expanding its workforce to more than 100 employees. His success and innovative approaches in business were recognized in 2020 when he was named among HVACR Magazine’s Top 40 Under 40.
Beyond his accomplishments with Absolute Airflow, Victor’s dedication to fostering growth and success extends to others in the industry. He is passionate about sharing his expertise in in-home sales processes, teaching thousands of technicians and salesmen nationwide. His dedication to mentorship and skill development is evident in his creation of his Blueprint product which hosts an open learning platform with resources for business owners and leaders aiming to elevate their companies to new heights.
He continues to mentor and innovate, with growing plans to help others navigate and overcome the challenges of starting and growing a business., but also overcome personal and professional obstacles. His Rocket X Society has become a community for dedicated professionals committed to achieving their fullest potential – in their careers, personal relationships, physical health, and mental well-being.
Connect with Victor:
https://callprofitrocket.com/ to book a demo of how Victor’s service can help you
Social Links
Book Your Profit Impact Call – I’ll Find You $50,000 in Profits in 30 minutes With a Live Profit Accelerator Simulator
