Ty McBride comes from a long line of builders, but his grandfather urged him to forge his own path. Ty initially chased success by landing massive historic preservation contracts, only to find himself running a high-stress, low-profit “train wreck.” A sudden pivot during the pandemic pushed him back to his local community, where listening to his neighbors revealed a massive, unsolved problem: wood rot. This discovery led him to build a new business around a specialized epoxy repair service, turning a simple idea into a highly profitable and scalable national franchise.
In this interview with Ryan Atkinson, Ty shares the business strategy that turned his company around. He explains how to dominate a niche business with a "mile deep, inch wide" approach, why true success lies in profitability, not just revenue, and how the "just ship it" mindset is crucial for starting a business. Don't miss these hard-won lessons on building a resilient home services company from the ground up.
Takeaways:
- Focus on Profit, Not Just Revenue: Build a sustainable business by prioritizing profitability from day one. As Ty states, "Revenue is for vanity, profit's for sanity."
- Go a "Mile Deep and an Inch Wide": Dominate your market by becoming a specialist in a specific niche. This focus allows you to build better systems, charge premium prices, and become the go-to expert.
- Adopt the "Just Ship It" Mentality: Overcome the fear of starting by taking action before you feel 100% ready. Securing the work first and then figuring out the perfect solution is a powerful way to launch your business.
- Listen for Your Biggest Opportunities: Your customers' small, recurring problems can reveal massive gaps in the market. By listening carefully, you can identify a high-demand service that competitors have overlooked.
- Big Contracts Can Be a Trap: Chasing the largest jobs isn't always the best business strategy. A model built on smaller, more profitable, and repeatable services can lead to greater financial stability and less stress.
- Systematize One Thing Before You Diversify: Master and create efficient systems for your core service before you even consider adding another. Ensure your business can run smoothly without you before expanding your offerings.
- Solve the Root Problem, Not the Symptom: A true expert digs deeper than a customer's initial request. By identifying the real underlying issue, you provide more value and build stronger trust.
- Use Low-Cost Marketing to Start Lean: You can launch a successful home service business with a small budget. Targeted, "boots-on-the-ground" tactics like designing door hangers and canvassing ideal neighborhoods are highly effective for customer acquisition.
- Embrace the Pivot: Be prepared to change your business model. Ty’s most successful venture came after a forced pivot, proving that adaptability is essential for long-term success.
- Build Your Own Legacy: Even if an opportunity in a family business exists, the greatest growth and fulfillment often come from accepting the challenge to build something entirely your own.
Tags: Home Services, Entrepreneurship, Niche Business, Epoxy Floor, Profitability, Remodelling
Resources:
Grow your business today: https://links.upflip.com/the-business-startup-and-growth-blueprint-podcast
Connect with Ty: https://www.instagram.com/tymcbrideok/?hl=en
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