The Truth About Improving Efficiency in Your Service Business
The key obstacle to growth is the chaos in the office. Industry software is fundamentally flawed… It not only ignores the chaos, but it also compounds it!
-Billy Stevens
Have you been trying to implement your ideas for growth but finding it difficult to do so?
In a service business, growth can be a double-edged sword. On one hand, it’s great to see your company expanding and taking on new clients. On the other hand, growth can put a strain on your resources, making it difficult to maintain the same level of service.
That’s why it’s important to focus on efficiency when you’re trying to save money and improve profitability. In other words, rather than simply raising prices, look for ways to cut costs and increase productivity.
- For example, you might consider offering extended warranties to your customers. While this can be beneficial for companies, self-warrantying can cause issues with a valuation if not done correctly.
Worry no more, as the service business mastery podcast is back this week with Billy Stevens!
Billy Stevens is the founder and CEO of SeraSystems and the CEO of BillyGo. In order to ensure the success of your business at present tech-savvy times or during the shoulder season, use SeraSystems to ensure your profitability and operations are more efficient. And how you can do this is what we have covered in this latest episode of the Service Business Mastery Podcast.
So are you ready to listen to this fun episode!?
Tersh Bliessett and Joshua Crouch talk with Billy Stevens about how to expand your business successfully to a larger extent in this competitive industry. If you are a business owner, you won’t want to miss this episode!
Listen to this fun episode that’s full of tips, strategies, and more! Pour your favorite drink and enjoy the show!
How Billy Steven’s company Sera can help with your business?
The following are ways Sera can help plumbing, HVAC, electrical, and other service-based businesses of yours:
- Increase worker efficiency
- Optimized appointment scheduling
- Technician tracking
- Higher sales closing rate
- SMART dispatching
How To Cut Costs And Still Grow Your Business
[0:52-2:07] “What, types of things should we actually be looking at to make data-driven decisions versus just listening to someone that doesn’t understand your business?… And so if you focus on efficiency with your employees more than the dollar, the dollars are gonna come,” says Billy Stevens.
“If you focus on efficiency with your employees more than the dollar, the dollars are gonna come”—Billy Stevens Click To TweetContractor Business Advice: How To Increase Budget & Growth
[7:08-8:26] “No, memberships are not dead. I had to. I’ll just give you a quick rundown on how valuable memberships are. Memberships are annual recurring revenue. Most businesses sell on annual recurring revenue and get many more multiples than we’re getting in this industry. We’re not even getting multiples on the book yet, and the book is the top line… you’re gonna get two or three more points to as a multiple,” Billy Stevens
The bottom line is that when it comes to pricing, businesses should look at their overall financial state and make data-driven decisions. By taking a strategic approach to pricing, you can ensure that your service business remains profitable as it grows!
Billy improved the image of plumbers and implemented other time-saving strategies. Until now, no other company was doing this and no viable solution had been developed.
So, what are you waiting for? Check out this fun episode to learn valuable strategies from Billy Stevens!
Billy Stevens recently joined Service Business Mastery Podcast and here are some highlights of the podcast:
- How focusing on improving efficiencies within a company can help save money and improve profitability, rather than simply raising prices.
- When considering changing pricing, businesses should look at their overall financial state and make data-driven decisions.
- Why offering extended warranties can be beneficial for companies, but self-warrantying can cause issues with valuation if not done correctly.
Key Resources Helpful for You From This Show:
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- This episode is kindly sponsored by the following:
- UpFrog https://www.upfrog.io
- This episode is kindly sponsored by the following:
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- CompanyCam (visit www.companycam.com/SBM for a 14-day trial and 50% off your first two months).
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- Check out Sera Systems
- Email him at billy@sera.com
- Connect with Billy Stevens on LinkedIn
- To schedule, a call with a Sera expert go to their website
- Join the Service Business Mastery Facebook group.
- Email us at Podcasts@ServiceBusinessMastery.com
- Learn all about the Hosts of Service Business Mastery!
Meet the Guest:
Billy Stevens began his professional career in 1996 with Berkeys, an HVAC and plumbing business based in South Texas. Billy purchased Berkeys in 1996.
Not having much experience in the trades allowed him to look outside of the box as the company grew.
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