Mark Denning: Secrets to Success in Home Services

Stark Naked Numbers

Hey, it’s Jason Andrew here.

Today, I'm joined live in the studio by Mark Denning.

He’s the owner and managing director of Fallon Solutions, a Brisbane-based home services business that provides trade services to customers in South East Queensland.

I actually used their services myself, and let me tell you, it was one of the best customer experiences I’ve ever had with a tradesman. So, I made it my mission to track down the owner, and here we are.

In this chat, I talk to Mark about the story behind Fallon Solutions, how he grew the business from $2M to $50M in revenue by investing in talent, customer experience and tech.

Alright, let’s get into it.

Links:

To keep up with Mark, follow him on LinkedIn.

If you enjoyed this episode, subscribe to Stark Naked Numbers on Apple Podcasts, Spotify, Stitcher or wherever you get your pods.

Want the secrets the other accountants won’t give you? Follow Jason Andrew on LinkedIn.

To learn more about uncovering your financials, unlocking your cash and unleashing your cash, visit starknakednumbers.com.

Show Notes:

(03:10) - Introduction to Fallon’s Services

(04:50) - Mark’s career before Fallon’s

(06:06) - The decision to buy

(11:20) - 60% growth in year one: cash flow model of residential vs commercial

(14:33) - Customer acquisition strategies

(16:07) - Revenue growth: $2M to $50M in 20 years

(18:17) - Capacity and staffing model

(23:39) - Competitive difference and advertising strategy

(25:50) - Attracting and retaining talent in a service-based business

(32:49) - Capacity management software

(35:16) - Private equity interest in the HVAC industry

(40:03) - The future of Fallon’s

(41:08) - Mark’s experience with private equity: US vs Australia

(43:54) - The motivation behind building businesses