A Tale of 2 Landscapers
Hey friends,
Welcome to the Better Business Brief, where I share takeaways from:
- running a business I’m building to sell for millions
- my consulting with business owners building to sell for millions
- tips and tricks you can use to do the same
I’ve given a few talks over the last year, and realized that there’s this little trick I use in my talks that people seem to really resonate with. I create this story of two entrepreneurs who set out on a similar path, go about it differently, and achieve different results. I’ve been working on a new one for a talk I have coming up with some business owners, and I want to share it with you today:
So today, in less than 5 minutes, I’ll give you:
🏡 The Tale of 2 Landscaping Business Owners
🧭 How They Each Navigated Their Whole Career
💡 Why Only One Achieved Their Dreams
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Before you start reading, I encourage you to try to see the patterns of how you run your own business and see what you could do differently -
In the vibrant suburbs of Orlando, Florida, two ambitious friends, Tom and Mike, decided to channel their passion for gardening into their own landscaping businesses. With a truck, some basic tools, and big dreams, they each set out to create landscapes that would impress their community.
From the outset, Tom realized that passion alone wouldn’t grow his business. Eager to forge a path to success, he immersed himself in business workshops and absorbed every piece of knowledge he could find on sustainable landscaping practices. He saw the growing trend towards eco-friendly solutions as an opportunity to differentiate himself.
Mike, on the other hand, leveraged his charismatic personality and robust work ethic to build a solid customer base. He relied heavily on traditional advertising methods, distributing flyers and placing ads in local newspapers, which brought him moderate success through word of mouth and repeat customers.
As the years passed, Tom’s business thrived under his innovative approach. He carved out a niche in eco-friendly landscaping, which attracted environmentally conscious homeowners willing to pay a premium for sustainable garden designs. His business began to stand out as a leader in green solutions.
Meanwhile, Mike continued to expand his operations in the traditional landscaping market. His business grew, but it was a slow and steady pace that didn’t harness new trends or technologies.
Recognizing the complexities of scaling his business, Tom sought the expertise of Linda, a renowned business consultant. Her fresh perspectives and strategic insights helped Tom refine his business model, focusing on high-value clients who were key to his profitability. Thry realized that these types of customers were about 20% of his total customers, but were bringing almost 80% of his profits.
On the other hand, Mike doubled his advertising efforts in response to growing competition. He hoped that broader coverage and frequent discounts would attract more customers. However, this approach led to thin profit margins and an overworked staff.
Tom, with Linda’s guidance, streamlined his operations. They implemented standardized processes and invested in a comprehensive CRM system, which significantly enhanced project management and client relations. Tom’s business not only retained high-value clients but also attracted new ones through stellar service and word-of-mouth.
Mike’s ad-hoc approach began to show cracks. Without standardized processes, each project varied in quality, which eventually hurt his reputation and customers’ trust.
Years of strategic planning and focusing on sustainable practices paid off for Tom. His reputation as a pioneer in eco-friendly landscaping caught the attention of a national firm looking to expand into this niche market. The firm made an offer to acquire Tom’s business for $10 million, which he accepted, allowing him to retire comfortably and fulfill his dream of living in Italy.
Mike, however, found himself struggling to keep up. His failure to adapt to the changing market and invest in strategic growth left him with no viable exit strategy. When it was time to retire, Mike had to shut down his business and sell off his assets at a fraction of their potential value.
Tom and Mike started their journeys together but their paths changed dramatically due to their different approaches to business growth and adaptation. Tom’s willingness to learn, innovate, plan strategically, and get help enabled him to retire successfully and comfortably. Mike’s reliance on traditional methods and resistance to change resulted in a challenging retirement. Ultimately, Tom was humble enough to accept that he couldn’t do everything on his own, and savvy enough to listen to the data and to his customers.
If you want to be a Tom and not a Mike with your business, I can help. Click this link to see how I help people build a business that actually reaches their goals.
Be great. Keeping growing and aspiring. And as always: I hope you got something from this.
If you did, share it with a friend who may too, as this is the best way for me to grow it and make this better.
They can even sign up here :)
Happy value-building to all of you!
See you next time for Better Business Brief,
-Brody
If you are considering selling your business soon, let’s talk. Grab some time here and we’ll make sure your plan is on track.
