4/11/24
Topic: The Economy Here & Now
Guests: Dan Gordon & Donnie Shelton
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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