10/3/24
Topic: Turning Around a Pest Control Company
Guest: Steve Durham, former owner of EnviroCon Pest
In this episode we discuss:
Our sponsors Coalmarch by Workwave and PestSure
PMP Industry Insiders Peer Groups
How Steve was a peer group member who eventually turned around his business and sold it to Triangle Pest Control (Donnie's firm)
How Steve and his partner David Rice left corporate jobs to start the company in 2002
The tipping point at which Steve began thinking about improving the business in order to sell it
How they transitioned from 80 percent one-time business to nearly all recurring revenue
The discipline and time it takes to make this kind of transformation
The power of requiring customers to being on auto-billing
Why triennial service is such a profitable proposition for pest control companies
How Steve overcame the challenge of communicating a new business model to his team
Why "living within your means" is so important when it comes to cash flow
What Steve would have done differently and his advice for other pest companies
Notable: "When 80 percent of your business is one-time business, you have nothing to sell." —Steve Durham
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