Their electrical business was doing well, but Wayne and Sarah needed structure and advice to help it grow in the right direction and maintain consistent profits. After working with MaxMyProfit for only four months, they learned to delegate tasks, increased profit by 50% and now feel they are on the same page as they face the future.
The pair had many challenges to overcome when they began their Max My Profit journey
Wayne Hack Electrical is an electrical contractor service covering the Sydney metropolitan area. The firm works on domestic, commercial and light industrial projects, but the main focus is high-end domestic construction and renovations, as well as services for strata managers. Owners Wayne and Sarah employ five tradesman, three apprentices, two office staff and a business manager. MaxMyProfit gave them the confidence and knowledge to make key decisions and changes necessary to run the business. The couple say the long-term benefits of working with MaxMyProfit are endless.
The self-confidence and knowledge to improve the business were absent. Growth was necessary, but neither Sarah nor Wayne knew how to achieve it.
Solution: An alignment session gave the couple a combined focus for the business. Knowing the focus helped them identify gaps in their knowledge. A comprehensive analysis of the business structures and financials gave them a good insight into the changes they could make to get better results. MaxMyProfit’s online Business Hub is now used in their staff meetings to keep everyone on the same page and to impart elements of business knowledge previously lacking.
In the past, finances tended to take care of themselves – there was no real plan. The result was inconsistent cash flow month to month. The pair were working “ridiculous hours” with not a lot to show for it.
Solution: From being reactive, Sarah and Wayne became proactive. This resulted in an increased gross profit of 50%. The foundations are now laid forconsistent business growth and associated profits.
Business decisions used to be made as crisis dictated. Instead of looking for ways to improve the business, Wayne and Sarah waited until opportunities came to them.
Solution: The business now has a one, three and five-year plan. This means the couple are both working towards the same goal. They are excited about the next five years, knowing what’s in store for their business. Attending the Business Acceleration Conference also gave them a chance to network with business people who shared similar goals, broadening their business horizons.
Sarah says it’s important to have someone working with your business who doesn’t have an emotional investment. “MaxMyProfit are totally impartial. Sometimes, especially when you are husband and wife, it’s good for someone to sit you down and give you an impartial opinion that helps you with direction and focus.”