In February, Larson hired someone for bookkeeping, scheduling, collections and phone calls. Larson's office was in his home. Once you start hiring employees, home offices don't work as well, says Vedrich. He recommended a move for Larson's business, and in February, Larson built office space next to his home. Larson advertises with pamphlets circulated to real estate agents.
Agents are a potential source of referrals.
Homeowners often need repairs before putting a home on the market. Targeting real estate agents is an efficient way to pinpoint a business niche, Vedrich says, suggesting that Larson increase the ads' frequency to maximize their effectiveness. Larson needs to do a better job of tracking and categorizing expenses, says Vedrich. At the individual job level, tracking costs will help Larson understand the profitability of various types of jobs. By adjusting rates on low-margin work, he can increase profits.