EPISODE · Apr 8, 2022 · 1H 26M
From Losing Money to $1.6M in 5 Years: Daniel Smith of Asbury Electric in Gloucester, VA, Shares His Turnaround Story, Plus Some Insightful Tips for Any Small, Growing Contracting Company
from The Successful Contractor Podcast · host CertainPath
Welcome to The Successful Contractor Podcast, Powered by Success Group International (SGI). A show for residential contractors about residential contractors… We chronicle business journeys, share insights, and celebrate successes in this wonderful industry. Thank you to our sponsors: Company Cam –Are communication issues holding your business back? CompanyCam is a photo documentation app designed for contractors, by contractors. It’s flexible, customizable, and feature-rich—there’s a solution for every gap in your process. Take unlimited photos and videos stored in the cloud, share custom reports, create before & afters, and keep everyone on the same page—from in the office on a computer, or on a job site on your phone. Set your business up for growth with clear organization and simple documentation. Do your business a favor and get started with CompanyCam today at companycam.com/sgi or in the App Store. Owens Corning AirCare™ Contractor Program- Uncover hidden opportunities and take your HVAC business to the next level with Owens Corning. Owens Corning has done the work to provide you with a turnkey system, from sales training to in-home tools, with a simple story that practically sells itself. Add duct replacement and attic insulation to your service offering as a part of our program and elevate your sales today. For more information, visit owenscorning.com/retrofit-contractor.
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What this episode covers
Today’s show is a great discussion with Daniel Smith of Asbury Electric in Gloucester, Virginia! Daniel has a great story. He’s one of those people who’s been chasing success his whole life, and now he’s found it. Over the years, he’s held a bevy of jobs—head chef, union electrician, timeshare salesperson, Amway business owner, crane company operator, and water treatment salesperson. Eventually, it all led him to starting Asbury Electric in 2010. It was a tough go. He started the business from scratch, mostly working for GCs. He dealt with the typical problems as a sub-contractor—poor pay, when and if he was paid at all. Daniel was frustrated. Through a networking group, he met Derek Worstell of Pyramid Roofing, who’s been a longtime member. He recommended SGI to Daniel. Daniel went to a Profit Day, and as you will discover, his life has changed over the last 5 years. The company did $1.6M at 62% GM and a 10% NP. And Daniel feels like he’s only scratched the surface of his success. Daniel’s story alone is worth watching/listening to this story. But he offers some interesting nuggets including a KPI he created to track how well his team writes options, how his small electrical company has sold over 600 clubs, how he successfully switched his team to a piece rate system, which locks in his labor percentage and has made his techs happier, and so much more!
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From Losing Money to $1.6M in 5 Years: Daniel Smith of Asbury Electric in Gloucester, VA, Shares His Turnaround Story, Plus Some Insightful Tips for Any Small, Growing Contracting Company
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