How to Grow a Contracting Company: 500K to 2 Million
Manage episode 470618049 series 3385001
Clark Turner and James McConnell explore the crucial transition phase when growing a contracting business from $500K to $2M in annual revenue, identifying key system changes and mindset shifts required for sustainable growth.
• First major transition: creating documented systems and processes to duplicate yourself
• Basic understanding of QuickBooks and proper financial categorization becomes essential at this stage
• Your product shifts from physical work to the customer experience and project management
• Marketing should only be accelerated after you've built efficient systems that can convert leads
• Weekly one-on-one meetings with employees create space for process improvement suggestions
• First hires typically include a project manager and part-time bookkeeping help ($200-300/month)
• Most contractors try to spend on marketing before having systems in place to handle new business
• Process documentation is crucial before making your first hire to ensure consistency
Check out prostruct360.com and hit "contact us" if you'd like to talk about growing your contracting business. Next week's episode: what makes a good PM versus a great PM.
Join us January 11–13 in Nashville for the Chart the Course 2026 Planning Retreat. Sign up now and get three free coaching sessions before the event to finish 2025 strong and hit 2026 with a clear game plan. At the retreat, you’ll tackle systems, hiring, marketing, and leadership alongside ambitious contractors, leaving with a blueprint for growth. Spots are limited—visit prostruct360.com to learn more!
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Chapters
1. Growing Beyond 500K (00:00:00)
2. The Profitability Shift (00:03:04)
3. Duplicating Yourself Through Systems (00:06:45)
4. QuickBooks and Financial Management (00:15:05)
5. Marketing and Lead Generation (00:24:57)
6. Creating Processes Before Hiring (00:38:40)
169 episodes