Buying a business that is in decline with the belief you can turn it into so much more is risky business. However, with the right approach, dedication and understanding, the investment can pay off quite well. This is what Ken Goodrich believed he could do when he purchased Goettl Air Conditioning and HVAC. The first focus for Ken Goodrich was establishing a renewed focus on people. After buying businesses that were on the edge of failure 15 times before and turning them around, he felt confident he could be successful at doing this again with Goettl Air Conditioning.
The first steps Ken took was to get input from employees and consumers about what they felt was important in giving great service. From his years of experience, he knew that happy customers made for loyalty and great referrals. In addition, he knew that getting the company’s name out there with some positive charitable initiatives was important.
Most successful business owners understand that being too focused and not being consumer focused enough can cause significant problems. Savvy business owners are usually focused using a well-rounded approach to their customers. They understand there is a principle of reflection for most consumers about what they value in a service company. The minute consumers feel the service business they are using places greater value in how much money their customers bring to a company instead of how valuable the customer is to the company, is when the company starts to lose their customer’s loyalty. Ken Goodrich understands this principle and works diligently to ensure that all customers of the companies he runs know just how important they are.
Building a business back using the old-fashioned principles of good service, good values and good company morale has been Ken’s success mode and it works. He started investing the company in becoming involved in community efforts to help the homeless and help the elderly that needed air conditioning services but were living on a fixed income and couldn’t afford standard air conditioning services. This in turn branded the company as a community oriented compassionate company.
The company changes Ken made towards the community and customers along with greater employee appreciation by the management and owner led to a big jump in productivity and profits. In fact, Goettl Air Conditioning income jumped from an $11 million dollar a year business in 2012 to a $20 Million dollar a year business in 2014 just 18 months after acquiring it. Today, the company is now located in Tucson, Las Vegas and Southern California in addition to the original Phoenix location and has an annual income of over $50 million dollars. Check out the company Linked In page for more details.