The Benefits of New Territory
Contractor Evolution • 49m
If you have ever wondered what it takes to expand into a new market, begin operations in a new city, or even a new state, this episode is a must-listen. Our guest for this episode is Kory Ballard, founder of Perficut Site Management.
Kory started as a teenager, borrowing his dad's mower to do his neighbor's lawns and save up for a moped.
Fast forward a couple of decades, and Perficut would become a massive full-service commercial landscaping company with nearly 200 employees operating in 3 different cities across 2 states.
Quite recently, Kory sold Perficut to a national site management brand…kind of the dream exit actually. He now focuses 100% of his time on Ballard-Inc., an equipment and accessory manufacturing company for landscapers.
Kory is a classic entrepreneur: successful enough to retire, but so driven he can’t - at least not yet.
We wanted to have Kory on to share his lived experience. What is it ACTUALLY like to push your brand to its limit and expand into new territories? What is unexpectedly hard about it? What are the financial implications and risks? How do you choose where to go? How does your role as a leader change? And What systems make this possible?
Like many things in life, actually doing the thing is many orders of magnitude harder than daydreaming about it. And that's why today's episode is a good one. Kory gives us the unpolished reality of what it takes to expand geographically.
In this episode we cover:
- How to determine when you've saturated your current geographic market
- What is the best way to pick your next market
- The business systems you need to have fully functional before you consider opening a new branch
- The financial implications of starting a new branch
- How you as a leader will need to change to lead multiple locations
- The challenges you don't think about when you decide to expand
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