Are you feeling like you’ve hit a ceiling in your business and need some business growth advice? In this portion of an interview between Dale Beaumont and Joshua Nicholls find some great advice from an expert who saw 790% growth in just four years.
Joshua Nicholls is the owner of Platinum Electrical Contractors, which in just four years has experienced a growth of 790%. From it’s humble beginnings, Platinum Electrical has now grown to have over 30 employees and has been a finalist and won many small business awards.
After four years, your business grew by 790 per cent. How did you grow so fast and did this present any major challenges for your business?
Platinum Electrical grew so fast because I was young and ambitious and wasn’t afraid to take risks.
At 22 years of age I had no commitments and I was able to put all my time and money into the company. I feel that the company grew rapidly because I had an eye for insufficiencies and always worked on improving them. As we started to grow, I still prioritized improving systems and processes and therefore laid a foundation that could handle more rapid growth.
The second stage of growth happened once I sought wise counsel and appointed a business coach. Having started business as a technician and only having a vague idea about how to make a business successful, I engaged the services of my business coach to help me move the business to the next level. I spend a lot of money on advice and it is really important not to be ‘tight’ when it comes to this. A lot of small business owners try to cut corners by saving money when it comes to professionals in the legal, accounting and business fields but this can be a fatal mistake. I believe that I have attracted growth by investing money in professional advisers who have channeled me in the right direction to do things right the first time. If you try and cut corners by doing it yourself, or paying for a cheap accountant for instance, you will always pay for it in the long run. Choose professional advisers wisely and even if they are expensive, the return on investment is priceless.
Fore more Business Growth Advice from an Expert check out Secrets of Small Business Owners Exposed!