Building a Successful Contracting Business with Mark from LMN

Focus on 'revenue per man hour' as your primary metric; aim for $150-200/hour in hardscaping to ensure high profits and well-paid staff.

Implement a robust budget and job costing system to understand your true profitability and make informed pricing decisions. This should be a 4-6 hour exercise with a solid framework.

Avoid 'shiny object syndrome' and over-diversification; focus on excelling in one specific area (e.g., residential design-build hardscaping) rather than spreading resources too thin.

Allocate 2-3% of your revenue to marketing. This investment is crucial not only for attracting better customers but also for recruiting high-quality employees in a competitive labor market.

Recognize and address fear-based decision-making. Make logical choices based on financial data, even if it means discontinuing services that don't generate profit, to avoid a 'scarcity mindset'.

Continuously evolve as a leader. As your business grows, shift from being a technician to focusing on building scalable systems, training programs, and clear communication to empower your team.

Plan for a strategic exit from day one, aiming for the highest possible EBITDA over three years. Understand that multiples vary significantly, and design-build firms might get lower multiples but higher overall value due to larger revenue.