Putting a spark into the electrical business
WAYNE HACK ELECTRICAL

THE CHALLENGES

The pair had many challenges to overcome when they began their MaxMyProfit journey

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BACKGROUND

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.

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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.

Lack of business knowledge

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.

Inconsistent Profits

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.

Inconsistent Profits

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.

Being Reactive not Proactive

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..

OUTCOMES

  • Through MaxMyProfit, Sarah and Wayne found the confidence to rebrand and improve their website.
  • They are no longer tied up in the operations of the business, they can see it with fresh vision.
  • Profitability increased in just four months – gross profits are up 50%.
  • Because staff now understand where the business is heading, communication is improved.

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.”

  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with MaxMyProfit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for MaxMyProfit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for MaxMyProfit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • MaxMyProfit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the MaxMyProfit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you MaxMyProfit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at MaxMyProfit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • MaxMyProfit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of MaxMyProfits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler