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Does Growing Your HVAC Business Always Have to Be Top-Line Revenue?
When growing your HVAC business, growth is often equated with top-line revenue. The notion that “if you’re not growing, you’re dying” has become a popular mantra. However, a different perspective on growth emerged in our HVAC Revealed podcast episode with Stephanie and David Postell, Anchor Heating and Air owners. Stephanie made a thought-provoking point about how growth can manifest in various ways for different businesses.
Redefining Growth: Beyond Revenue
Stephanie challenged the traditional view of growth that new HVAC business owners usually assume. She asked, “What if you’re growing your profits? What if I’m growing my people? What if we’re growing our brand?” These questions highlight alternative dimensions of growth that extend beyond top-line revenue. It prompts us to consider the broader aspects contributing to a thriving business.
From the outset, Stephanie and David chose not to aim to become the number one business in their area. Instead, they focused on creating a solid business aligned with their vision and values. Their primary goal was to find the right place for their company, where they could be the business customers were looking for.
What if you're growing your profits? What if I'm growing my people? What if we're growing our brand?
Shifting Focus: Profit Growth
One aspect of growth that Stephanie emphasized is the growth of profits. While revenue growth is important, it’s equally crucial to maximize profitability. Businesses can achieve sustainable profit growth by optimizing operations, controlling costs, and streamlining processes. Stephanie and David’s approach to profit growth ensures their business remains profitable and financially stable.
Nurturing People: A Different Kind of Growth
Stephanie also highlighted the significance of growing people within a business, “See people for what they can do before they know it.” David worked as a technician for over twenty years before he was promoted to management. He had one of the best work ethics and techniques and was proud enough of the workmanship that he signed it!
Stephanie joked, “the best mistake you can make is taking your best worker and making them a manager.” While not everyone can step up and lead their team appropriately, it’s about nurturing and slowly transitioning them into leadership roles. David was hesitant as he worked best with tools and had trouble teaching others about best practices. But he found his passion for teaching, even in small teachable moments.
“Teaching newbies to bring as much with them from the truck on the first go, and to take back something everytime you come down from space, [is s small thing to teach them], but you’re teaching them to be more efficient in their work.”
By investing in employee development, providing training opportunities, and fostering a positive work culture, companies can nurture the growth of their team members. This approach enhances individual skills, strengthens organizational capacity, and creates a loyal and motivated workforce.
Building a Strong Brand
Growth can also manifest in the form of brand development. Stephanie and David recognized the importance of establishing a strong brand identity that resonated with their target audience.
They focus on being the local go-to HVAC company. They want to ensure their customers don’t “feel like a number,” as Stephanie explained. It’s also about attracting people to work for them. Being a reliable brand that focuses on “allowing our employees to have a social life and weekends with their family is a big win for us”
Through consistent messaging, exceptional customer service, and community engagement, they were able to grow their brand reputation and establish a loyal customer base. This brand growth has been instrumental in its success and long-term sustainability.
Stephanie joked, “the best mistake you can make is taking your best worker and making them a manager.” While not everyone can step up and lead their team appropriately, it’s about nurturing and slowly transitioning them into leadership roles. David was hesitant as he worked best with tools and had trouble teaching others about best practices. But he found his passion for teaching, even in small teachable moments.
“Teaching newbies to bring as much with them from the truck on the first go, and to take back something everytime you come down from space, [is s small thing to teach them], but you’re teaching them to be more efficient in their work.”
By investing in employee development, providing training opportunities, and fostering a positive work culture, companies can nurture the growth of their team members. This approach enhances individual skills, strengthens organizational capacity, and creates a loyal and motivated workforce.
Embracing Your Definition of Growth
This episode with Stephanie and David challenges the notion that growth is solely about top-line revenue. It encourages businesses to define growth on their terms, considering profitability, people development, and brand expansion. HVAC companies can create a meaningful and sustainable growth strategy by aligning objectives with their vision and values.
While top-line revenue growth is undeniably important, it’s essential to recognize that growth encompasses much more. By broadening our perspective on growth and embracing alternative dimensions such as profit growth, people development, and brand building, HVAC businesses can create a holistic approach to success. Stephanie and David’s journey with Anchor Heating and Air is a powerful reminder that growth is not confined to a single metric but a multifaceted concept that should be tailored to each business’s unique goals and aspirations.
To hear the full story and unlock a wealth of knowledge from Stephanie and David, tune in to HVAC Revealed and listen to their captivating conversation. Discover how they built a solid business aligned with their vision and values, and learn how you can redefine growth to suit your unique goals and aspirations. Until next time, Evan and Thaddeus
About Stephanie and David
Stephanie and David Postell own Anchor Heating & Air, an HVAC service company based in Charleston, SC. With more than three decades of combined expertise and about 4 million in revenue over the last 2 years, their commitment to delivering superior HVAC services, repairs, and replacements, complemented by exceptional customer service, is something to learn from.
