In the ever-evolving world of home services and small businesses, generating a steady stream of high-quality leads is key to scaling, maximizing revenue, and ultimately creating a sellable business asset. This challenge, however, trips up countless business owners, leaving them at the mercy of inconsistent work schedules and unpredictable growth.
The insights shared by Phil Risher, founder of Phlash Consulting, on the "Raising Private Money" podcast reveal the exact systems that have helped companies consistently fill their pipelines, triple profits, and achieve premium buyout multiples.
Phil Risher’s journey from paying off $30,000 in student loans and saving $60,000 by age 25, to leading a local duct cleaning company through explosive growth, and finally building a seven-figure digital marketing agency, provides invaluable lessons for service-based businesses.
His expertise has been acknowledged by outlets like Forbes, CNBC, and Business Insider, making his findings particularly noteworthy for anyone looking to scale their company.
At the heart of Phil’s approach is understanding that success is rarely tied to having the best product or the most talented team. It hinges on establishing robust systems for visibility, conversion, and follow-up.
Phil emphasizes that the most important growth levers for any home service company are: bringing in new customers, converting leads into paying clients, and retargeting past clients to maximize lifetime value. These three pillars are foundational for creating a business that is not only profitable but attractive to potential buyers and investors.
To start, getting new customers in the door is all about visibility. Most home service businesses rely heavily on Google searches, but being present in multiple search areas and advertising platforms is crucial. Many companies make the mistake of blindly spending money on digital ads without understanding their true return on investment.
Phil points out that without tracking the effectiveness of ad spend, businesses can throw away thousands each month, praying for leads rather than strategically cultivating them.
The second growth lever is conversion. Generating leads is just the beginning; converting those leads into actual sales requires a thoughtful and systematic approach. Phil’s team establishes lead nurture sequences that combine instant text and email follow-ups, turning cold website inquiries into engaged, warm prospects.
Automations like requesting a photo of the project or issue can immediately move the conversation forward and prompt action from the prospect, increasing booking rates dramatically. Data from Phil’s work suggests that setting up automated nurture sequences can boost booking rates from an industry average of 42% up to 62%, all without increasing spend on ads.
Retargeting is the third essential pillar and often the most overlooked. Businesses already possess a goldmine in their existing client database. These customers know, like, and trust the brand, making them ideal candidates for repeat business. Phil’s two-step email playbook involves monthly email newsletters tied to a seasonal content calendar, followed up by targeted offers to those who engage.
Timestamps:
00:01 Mastering Business Growth Strategies
03:33 Scaling Revenue and Selling Companies
08:19 Fix Ads and Conversion Tracking
10:58 Lead Nurture Sequence Strategy
16:36 Scaling to $10M with Data
18:28 Team Building and Business Growth
23:21 Getting More Leads Simplified
26:40 Connect with Phil Risher:
https://www.PhlashConsulting.com
27:28 Scaling Strategies for Business Success
28:49 Free Guide: Private Money Tips
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