2020 started with such promise to many. Unfortunately, it ended much differently. This episode is not a co-miserating-let-you-off-the-hook-if-you-did-nothing-about-it episode! This is an episode to fire up the winners. With all the doom and gloom in the media of pandemics, failing economy, and people's livelihoods being destroyed, do you know that there are scores of absolute winners that crushed it in business in 2020 despite the doom and gloom? It's true. In fact, billionaire Mark Cuban predicted it early in the pandemic when he said that many new corporations will be birthed during this time. He also said that the entrepreneur who can pivot toward the future will always thrive. I've paraphrased Mark, but it's so true. I challenge you to search for entrepreneurs who have crushed it in 2020 and learn why and how they did it. Many had their backs pressed against the wall and had no direction but ahead. That's a winner. I facilitate and lead the SMART Cleaning Tribe. This is a group of cleaning business owners growing with employees toward 7-figures and I keep them focused and accountable to their WHY, BHAG, SMART goals. On a mastermind & accountability call recently, we were discussing 2020. They all had SMART goals to double their revenues in 2020. One of the members did. Carrie Cottrell from Cleaning by Carrie out of Galion, OH more than doubled her company well past the quarter million mark. Carrie is crushing it. I've watched her all year. She provides a high quality service at an affordable price. Her product is solid. Plus, Carrie is in a rural, small-town area and she has networked like crazy. She has put herself out there on local news interviews, the chamber, local networking groups, and posting on Facebook every single day something of value to others! It seems that everybody knows Carrie in Galion, OH. She may as well be the only cleaning company there because it certainly seems like it. I'm so proud of Carrie! Jenn Jubrey (Maid Spotless Cleaning, Albany, NY) had to shut down completely by order of the state for nearly 3 months. Yet, she still managed to grow enough just to hit the same revenue as 2019 and position herself to pass $500k in 2021! Her accountability buddy is doing the same thing. Michelle Allegrezza (Sparkling Homes Cleaning, Albertville, MN) lost a large percentage of her clients and staff in 2020 due to the pandemic and she personally dealt with severe illness and family crisis. Like Carrie and Jenn, Michelle is a winner. She dug in big time and went back into the field to personally clean solo again until she had her new hires trained to replace her. Check this out. She finished the year 11% down in revenue from 2019, but was extremely wise with the money that did come in to become a 100% debt-free company! How many business owners can say this in 2020? Michelle and Jenn are racing to $500k and I love stoking the fire of competition! Hannah Brees (Shine & Sparkle Cleaning, Dallas, OR) had wild fires and a pandemic nearly take out her business. Heck, the Oregon wildfires were within miles of her house. She grew her revenue in 2020 while losing more than half of her team and also having to clean solo again for a short time! Way to go Hannah! Kate Sloan (Chicka Chicka Broom, Montgomery, MN) has also crushed it in 2020. She is in a small town with a Big Dream to show her community what a well-run business looks like. She was able to grow revenue in 2020 while many other local businesses were going out of business. She worked hard, building up a waiting list of clients over 30 deep to replace the ones she lost during the pandemic. Kate also put the time in to find great hires while she worked solo in the field again in 2020. 2021 looks so bright for Kate. She's newly married, has the majority of her business running without her again, and she's on route to 7-figures and time, money, and location freedom. All of these ladies are amazing examples of what winning looks like.
I would like to use the rest of this episode to share my own 2020 success. I started the year with $29,000 in recurring cleaning revenue. In my ISO Model, I was transitioning between the Initializer and Stabilizer phases. My Big Hairy Audacious Goal (BHAG) for 2020 was to grow my recurring revenue by $60,000. I built out SMART goals to add $10,000 every 60 days. If you've listened to this podcast in 2020, you've heard exactly how I've accomplished this goal. I added $10,000 by February 29th, $10,000 by April 30th, $20,000 by June 30th, $15,000 by August 31st, and $5,000 by October 15th. I accomplished my 2020 BHAG by mid October. This was huge for me for a few reasons. #1 My business sale money ran out on September 30th, so I had to make up a sizable chunk of my monthly income. Adding $5,000 per month in 2020 definitely did that! #2 I had to deal with difficult personal and family situations, which I've shared in this podcast in late October and November. Because I hit my goal early, I was able to keep peace of mind about income while I took most of October, all November & December off of growth mode! This is called freedom and I'm so thankful that I did the work and hustled all year to earn the time to take off. Obviously, I still completed all of my scheduled cleanings. I just allowed myself to NOT pursue 2 more SMART which would have added $20,000 more recurring revenue. Wouldn't it be nice if you worked hard enough to stabilize your solo cleaning business with enough profit so you could take care of the things most important to you? I thoroughly enjoyed my December with family and I took the time to grieve, assist my extended family, and rest. That was worth so much more than adding more revenue and I'm thankful that I had the choice.
Solos, are you ready to dig into the numbers with me?! I use the ISO Model Tool, which is a part of the Solo Cleaning School Elite Membership. I use three metrics to guide solos through each phase of my ISO Model. They are the Peace Factor, Trust Factor, and Workday Value. The ISO Model is the system I created in NY as I initialized, stabilized, optimized, and sold a solo cleaning business that earned $55,000 profit on 2 days cleaning per week. My goal in 2020 was to take my new solo business back to the NY level. I'm going to take you inside of my head as I planned 2020, ended 2020, and planned 2021!
Ken Carfagno optimized his first solo cleaning business to $60,000 annual profit working 2 days per week without employees, sold it for close to 6-figures, and is currently following his ISO Model to do it again in a different state! This podcast will equip you to do the same!