The Secret to $10M: Why We Had To Take A Step Back To Grow | With Karen Balko!

Karen Balko turned a dating app connection into a $10 million+ home service empire — and she's here to show you exactly how. In this episode of the Build It To Sell It Podcast, host Lance Bachmann sits down with Karen, co-founder and Director of Operations at Vector Services, to break down the real story behind scaling an HVAC, plumbing, and electrical business from zero to 8-figures — and positioning it for a high-multiple exit.Whether you're just starting out or already running a multi-million dollar operation, this conversation is packed with the financial literacy, systems thinking, and hard-won lessons that separate businesses that sell for top dollar from ones that trap their owners forever. In this episode, you'll learn: ✅ How Karen went from tracking jobs on spreadsheets to running a $10M+ operation ✅ The truth about running a business with three partners — including your spouse ✅ Why switching to Service Titan and rebranding with Kick Charge were game-changers ✅ How to read your P&L like a buyer — not just an owner ✅ What HVAC market multipliers actually look like and how specialization affects your sale price ✅ Why offering equity to key employees can transform your team's commitment ✅ The "magic number" Karen and Tom are targeting before they exit ⏱️ CHAPTERS: 00:00 - Introduction of Karen Balko 00:35 - The Origin Story: Meeting on a Dating App & Starting a Business 01:58 - Early Involvement: From Spreadsheets to Operations 03:12 - Business Evolution & Partner Backgrounds 05:20 - Building Systems & Commercial vs. Residential Work 06:23 - Partnership Dynamics & Friction in a Three-Person Team 07:58 - Top Business Challenges Over 10 Years 09:31 - Rebranding & Switching to Service Titan 11:15 - Financial Literacy & Taking a Step Back to Scale 13:30 - Building a Leadership Team for the Sale 15:00 - Analyzing the P&L: What Buyers Actually Look At 18:43 - Business Valuation, HVAC Multipliers & Installs vs. Service 22:04 - Managing Work & Family: Running a Business with Your Spouse 24:14 - Employee Relations & Offering Equity to Key Staff 29:20 - Joining a Coaching Group & Professionalizing Operations 31:33 - Legacy vs. Selling: Should You Leave It to Your Kids? 35:45 - Social Media Fakeness vs. Real Business Problems 37:03 - Future Goals & Exit Strategy 39:08 - Top Marketing Channels Driving Leads at Vector Services 📲 Connect with Karen Balko & Vector Services: https://callvector.com/ 🔔 Subscribe to Build It To Sell It for weekly conversations with entrepreneurs who are building businesses designed to be sold.