Episode 172

4/11/24

Topic: The Economy Here & Now

Guests: Dan Gordon & Donnie Shelton

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In this episode we discuss:

• Our sponsors Coalmarch by Workwave and PestSure

• PMP Industry Insiders Peer Groups

• Economic positives like consumer spending and small business optimism

• Inflation and price increases in the pest control industry

• The Fed and rate cuts

• What Donnie is seeing at Triangle in terms of sales and cancels

• The results of the most recent PCOB Bookkeepers & M&A Specialists/William Blair Pest Index

• The size of the pest industry, according to Specialty Consultants, and what portion Dan estimates is made up by D2D companies

• Donnie's plan for the rest of 2024, and how his lawn side is doing well this year

• Dan's recommendations for how to run a business in a good or bad economy

  • Prioritize cash flow

  • Focus on providing great service

  • Do contingency planning

• Could lawn care benefit from the Lipstick Effect, when consumers continue buy small luxuries during a downturn?
  

Resources mentioned:

• PCT Top 100 list of largest pest control companies

• PMP Industry Insiders Episode 134: Why Cancels Are the Key to Growth

• Forbes article: "Any Monkey Can Beat The Market"

Notable: "I think you should run your business the same way whether the economy is good or bad and take advantage of opportunties when it's good." —Dan Gordon

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