Handyman “Hobby” Turns into a Business

Mr Handyfix

A year ago, Catherine and Alex Kavadas were doing property repairs and maintenance as a hobby to earn some extra income on the side. It was when they decided to take things to the next level that they realised they needed help. They had no clear business goals or mutual vision for the future. MaxMyProfit helped them find a common language and a sense of direction, and reinvigorated their self-belief.

THE CHALLENGES

Catherine and Alex had these main challenges at the time their MaxMyProfit coaching began

BACKGROUND

Without any business experience, couple Catherine and Alex Kavadas were trying to develop their property handyman service. Mr Handyfix had started out as a hobby, and they were still approaching it as such. Each became separated by their different vision of what the business could be, and how to get there. They had no mentor and no tools to teach them business methods and the importance of a business plan. They realised they needed help to turn what they had from a hobby into a real business, and started business coaching with MaxMyProfit in December 2016.

1. No Business Mindset

A lack of business experience meant they were running things ad hoc. On top of that, they added twins to their family in 2014, putting additional pressure on their income. Then in 2015, Alex decided he wanted to leave his job as a tradie and turn the handyman ‘hobby’ into a proper business. Overwhelmed with concern about a lack of strategy and losing Alex’s reliable income stream, Catherine wanted to wait until 2020. But their ambition to formalise the business would not go away and they knew they needed help to make it work.

Solution: MaxMyProfit showed them how to transition from an employee mindset to a business owner mindset. MaxMyProfit educated them about the importance of business stages and why they are important. They aligned with a Business Excelerator™ who identified their potential and challenged their disempowering beliefs and mindsets. changes. Having a clearer direction has also meant they have been able to change their market targeting and add greater value in their client services.

2. The need to transition from Hobby to Business

Before they started coaching, Catherine and Alex had a hobby that brought in an unreliable income. What they really wanted was a business, but they did not know how to get there.

Solution:MaxMyProfit helped them with their due diligence in sourcing partners who were expert business areas. They then expanded from a staff of one to a team of six in nine months. They came to realise that a business is a commercially profitable vehicle that must be able to drive itself even if the owners are not always behind the wheel.

3. A Lack of Structure and Clarity

Catherine and Alex had no common language with which to discuss the concept of a business. “When you start out doing things as a hobby, the passion you have provides ‘Hopeium’,” says Catherine, referring to an addictive kind of hope. “Hopeium, from an uninformed optimist’s starting point, is fabulous. But it’s not sustainable from a long-term business perspective.”

Solution: The couple immersed themselves in the tools included in the MaxMyProfit Online Hub. The Hub contains hundreds of tools, spreadsheets, checklists, templates and resources. Tools such as the Foundational Checklist and the 13-week plan offered a ready-made template for running their business. The 90-day plan, accountability tools and alignment exercises made sure Catherine and Alex were on the same page.

OUTCOMES

As a result of Catherine and Alex applying the techniques they learned through MaxMyProfit:

• Mr Handyfix grew from one employee in August 2015 to a team of six in August 2017.
• The business had 300% growth on target to achieve 23% GPN in 2017.
• The business is now truly a business, not a hobby.
• Recently, Catherine and Alex took a trip to Las Vegas to celebrate their success.

Catherine says MaxMyProfit gave them a proven formula that works. “If you immerse yourself in the process, in the learning and the tasks, stick to your 90 day plan, be a person of your word and turn up to the meetings and action the steps required, then your business will grow.”