We are thrilled to learn this week that our client Lifestyle By Design Homes has placed in the 2017 Financial Review Fast Starters list, the annual list compiled by the AFR featuring the fastest growing startup businesses in Australia. This is a fantastic achievement for Brad, Nick and the team at Lifestyle by Design and the second year running they have placed on the fast starters list. It reinforces all the hard work they have done on their business throughout the last few years.
We're very proud of you guys and thought it appropriate to share a recent article about the Lifestyle by Design success story:
How Lifestyle by Design became AFR Fast starters...
Lifestyle by Design didn’t start out as an award winning building company. It started as a small carpentry business led by two Aussie blokes, Brad and Nick, who did their apprenticeships together back in 2007. In the early years their carpentry business (Brickers) did grow organically, through word of mouth and commercial contracts, but the boys couldn’t seem to grow the business and they weren’t making a lot of money.
The major challenge the business faced was lack of growth – the business was stuck at $1million in turnover for two consecutive years. At that stage it was a trade business, and it was becoming apparent that the business lacked the structure and systems to allow it to grow and become a professional company.
Brad & Nick realised they needed help because despite turning over $1million a year, the business wasn’t making a good profit and they were both putting in a lot of hard work for far too little return. Then they met Brett Burden and the team at Action Coach Victoria.
The first thing Brett did was to determine they needed to take the business in totally different direction. This required coming up with a new business name and strategy, including a marketing plan with three main areas to target.
Brett also did a DiSC personality profile on both Brad & Nick and realised that whilst they were both covering the same roles within the business their personalities were actually suited to very different tasks. So together they setup an organisational chart to clarify the roles based on both Brad and Nick’s strengths and weaknesses according to DiSC.
According to Brad “After working with Brett Burden we commenced work on systems and processes straight away and began to think about our company differently. The real growth came at around the 12 month mark, when we had doubled our revenue and grown our profits significantly.”
“Life is a hell of a lot better now.”
The business has now grown from $1.4 million in turnover in 2015 to $3.2 million in 2017, and is forecast to turnover $5 million in 2018. The team have seven major projects in construction heading into 2018, valued from $550k through to $1.35million, and yet the business structure ensures that both Brad and Nick have plenty of quality free time and less stress than ever before.
Both Brad and Nick agree that if there was any advice they would give to other business owners it is this:
“Get help from a professional that has been there and done it before, so that you don’t have to continually learn from mistakes”
Would you like to see results like this in your business?
If you are serious about learning the strategies and putting in the effort needed to grow your business exponentially, then contact us for a chat.
You’ll find having an Action Centre business coach is just like having a marketing manager, sales team leader, trainer and recruitment specialist - wrapped in one - all for one nominal investment. We are the business partner you need without sharing your profits - with over 60 years of collective coaching experience to keep you on track and accountable for your own success.
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