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Good news! We got the contract for the HOA pool! From a numbers standpoint we grew 6% in gross income and average account value from last month. I'm really happy with our growth because we had several accounts that cancelled due to customers selling their homes, job losses or other reasons this month. The source of our growth has changed as well. Last year most of our growth came from online referral services but this year it's been word of mouth. Our goal for June will be a 20% increase in gross income and a 10% increase in average account value. By the end of the year we are shooting for 175 pools that we'll maintain on a weekly basis.
Still haven't been out to visit HOAs and hotels to inform them about the drain cover law changes. However, we have notified the property managers we currently work with and offered our services.
As I've mentioned before this business is not "our baby" and we don't have an emotional attachment to it. It is a vehicle to increase our income that will alow us to retire within 10 years. Our goal is to grow at a reasonable rate that is sustainable and doesn't increase the number of hours worked. When we chose to discontinue the warranty work, this was a direct result of this philosophy. By concentrating on weekly cleanings we can train a new employee within two weeks and he's on his own versus repairs which can take months to train for. I'm still learning on the repair side even after a year of owning the business.
Next week we'll expand our referral program to other pool supply stores in other parts of the city. I ordered 1000 business cards so I'll put them to good use.
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You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
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