How to Thrive as a New Business (Operations & Pricing) | Part 1

Masters of Home Service

Starting a new business can be overwhelming, especially when it comes to operations and pricing. In this episode, we dive into essential strategies that every new business owner needs to thrive, from setting up strong operational foundations to mastering pricing for profitability. Learn how to avoid common mistakes and set your business on the path to success from day one. Join host Adam Sylvester with Chase Gallagher of CMG Landscaping and Chanique Stewart of Cleanique Cleaning Services.

[00:00] Introduction to the episode and guests

[01:24] Processes and systems integral to early success for new businesses, including investing in a feature-rich CRM and knowing your numbers

[04:27] The common mistake of underpricing in the first year and the long-term consequences it can have on business sustainability

[06:12] How to approach pricing in the first year, and the natural progression of pricing as your business grows

[08:29] Operational efficiency tips for scheduling and routing, client communication, and delegating tasks

[10:12] Strategies for managing client expectations with grace periods and communication, particularly in industries where timing is crucial

[12:12] Using communication tools to enhance the customer experience and differentiate from competitors

[15:08] Advice for balancing profitability with competitiveness

[15:59] What "knowing your numbers" really means for new businesses with examples for different industries

[19:56] Developing efficient processes and systems in the first year

[23:25] Final tips from each guest for developing a strong business foundation in your first year

[26:37] Adam’s key takeaways: Get a good CRM, figure out your pricing, and get job deposits