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The Growth Lab

21 members • Free

6 contributions to The Growth Lab
Quick Win - Immediate Profit đź’°
Here’s a tip to raise your profit immediately with NO EXTRA WORK. Call your merchant agency. The one you use to process credit cards. Ask them for a rate review. You want them to lower the amount they charge you to process cards. Leverage: In your conversation use these for leverage: 1: How long you have been with them. They love a loyal customer. 2: You have increased your volume since the last time they did a rate review or since you started. 3: Tell them your projections for growth so they can see themselves making more money from you if you stay. The numbers they give can be confusing. When they come back to you with a new rate, ask them what your monthly and annual savings will be with that new rate. That all goes to your bottom line! **Pro tip: You can do this every 6 months - Especially if you’re growing. Set a reminder in your phone that repeats every 6 months so you don’t forget to call. What will you use the extra money for? (Leave a comment below)
0 likes • 9d
I have asked for rate reviews on insurance for investment properties. Never had a favorable response without switching insurers :[ However, I also asked for a rate review on my GC liability and inland marine policies, based on no claims history. That liability insurance is a killer, at least for my profit margin!
What’s your #1 Struggle right now?
If I could hand you a magic wand to fix ONE thing in your business today, what would it be? Hiring? Leads? Systems? Sales? To put it another way, why are you here? What would you like to get past or learn about?
0 likes • 12d
How to interview and choose service providers. It's not always about the cheapest price, and the ones who have completed to my standards are the ones I return for other business. I'd like to expand my reference list, but I haven't figured out how to do that without learning from the school of hard knocks (i.e. wasted money on mediocre work).
Which would you pick FIRST?
If you could find guaranteed you success in ONE of these, which would you choose? (Vote + comment why you picked it!)
Poll
1 member has voted
1 like • 12d
You can teach employees systems, and the A+ will find ways to improve systems. Systems identify how to increase profit margins. Leads will naturally follow when raving customers spread the word.
What's your Biggest Mistake?
We've all made mistakes in business. One of my biggest mistakes was keeping an employee that was causing turnover and bottlenecking our growth. A great employee that is willing to work long hours isn't always what they seem. If that team member is a manager, audit their processes and their time spent. If they are taking on tasks and not delegating, they are robbing the employees they manage of opportunities to level up and take things off the managers plate. Everyone wants more opportunities and your turnover will increase if your management team does not delegate tasks, and adequately train their team. Patterns to notice: - An employee comes to a manager asking for help doing something and the manager takes the task from them because it's "easier to do it themselves than to train it" - The manager is working excessive hours and their team is working regular hours and bored - The manager is grouchy and thinks they are worth far more than you are paying them - A-player employees move on to other jobs quickly - You feel tension between employees or total silence in their office (dissention) - The manager won't let you or doesn't want you to audit their work. Avoids you, becomes emotional, or calls out sick when you are planning to sit in with them. - Your manager is not managing people and processes. They are doing all of the tasks themselves.
1 like • 12d
Relying too much on a single contractor. I asked them to do everything from paint, carpentry, to cleaning. They don't clean well ;]
Leverage QA Calls for Sales - $0 CAC
I have found that we have increased our LTV by checking in on customers just for the sake of checking on our work and to ask a very forward question. “Do you feel you got a great value for the money you spent with us?” The response is almost always overly positive. This sets up the customer for a great next step. -Ask for a referral -Offer them another service at a discount -Improve you cash flow by offering a prepay discount -Setup a free inspection for services they may not have yet Train your CSR’s to do this in their downtime and they will pay for their own position in new sales every month. **Pro tip: You can butter up your customers even more if you offer to mail them a free gift between asking for their honest feedback, and the upsell. We send Tshirts. Customers LOVE it!
Leverage QA Calls for Sales - $0 CAC
1 like • 12d
I'm on the customer end. I love giving feedback to service providers on what I like about their service that would cause me to repeat business.
1-6 of 6
Chris Gering
2
15points to level up
@chris-gering-5858
My wife and I own 10 doors in central OK, self-managed for 10 years. Just hired a property manager to get out of the daily grind!

Active 5d ago
Joined Sep 14, 2025