121 - Kim and Buford Martin - Contractor to Coach
Episode description
Kim and Buford Martin had been in the HVAC industry, not as contractors, before they started Martin's Heating and Cooling in Fort Smith, Arkansas. They went through the struggles of starting and growing a Home Service Business before joining Service Nation Alliance and then building tremendous growth and profitability. Eventually they sold the business and are now Service Nation Premier coaches where they share their accumulated experience and wisdom. In this episode, Kim and Buford tell the story of their formative years, what they learned, how they grew, the process of selling their business, and they provide powerful advice for contractors. You need to listen to this: there's so much great information!
A few highlights:
- How they started Martin's Heating and Cooling
- Their reluctance to offer financing, and what happened when they offered financing
- Strategy and practice of offering financing
- Back-office changes that helped them grow
- Why they joined Service Nation Alliance, and the benefits they experienced
- The process of selling their business
- Using a third party to consult with during the sale of the business
- What happens in the business audit
- The emotional impact of selling your business
- Involving employees in the sale of the business
- The transition period
- Their experience as coaches and the type of coaching they do
- The fear of "knowing your numbers"
- Why they enjoy coaching
- Advice for contractors (don't miss this!)
- Contact information for Kim and Buford