When Nick Friedman and his friend founded College Hunks Hauling Junk, their business quickly became a success. It was also a rude awakening.
The two young founders had trouble managing a growing business; they were young and inexperienced. Here’s how they tackled the issue:
The Business: College Hunks Hauling Ju nnk is a company that provides junk removal, labour, moving and hauling services to residential and commercial clients. We also offer franchise opportunities and have over 30 franchises.
The challenge: We began as a small company run by two college students and, through national publicity and popularity, grew into the largest US-based labour and junk removal franchiser. It was a challenge to overcome the age barrier, and the sudden addition of major responsibilities and complexity as an organisation. We had spent the majority of our time doing the physical work and didn’t know how to put a sophisticated structure in place to grow our business into other markets.
The solution: We quickly learned time management and expert business organizational skills. College taught us a lot of that, but it takes on a whole new meaning when it comes to running a company. We asked many different business owners how they handled their own paperwork and different business situations and infrastructure, and learned from people we knew were successful. Applying their techniques to our own business was one of the best things we could have done for ourselves in the beginning.
The aftermath: Our company began to move faster. By this I mean that we now had set rules, regulations and protocol when it came to everyday tasks. This allowed us to maximise our time, take more clients, issue payments and make collections faster, and many other aspects that allowed us to scale more quickly. These systems are key factors to growing a new business.
The Lesson: Once we had everything moving faster and more smoothly, we were able to spend more time on building the business and client base, which ultimately is the key to sustained grow. Structure, organisation and systems are the beginning foundations of any successful, growing business.
The Young Entrepreneur Council was founded by Scott Gerber, a serial entrepreneur, internationally syndicated small business columnist and author of the book, Never Get a “Real” Job. The YEC’s mission is to help young people build successful businesses and overcome the devastating epidemics of youth underemployment and unemployment.
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