When Nick Friedman and his friend founded College Hunks Hauling Junk, their business quickly became a success. It was also a rude awakening.
The two young founders had trouble managing a growing business; they were young and inexperienced. Here’s how they tackled the issue:
The Business: College Hunks Hauling Junk is a company that provides junk removal, labor, moving and hauling services to residential and commercial clients. We also offer franchise opportunities and have over 30 franchises.
The challenge: We began as a small company run by two college students and, through national publicity and popularity, grew into the largest US-based labor and junk removal franchiser. It was a challenge to overcome the age barrier, and the sudden addition of major responsibilities and complexity as an organization. We had spent the majority of our time doing the physical work and didn’t know how to put a sophisticated structure in place to grow our business into other markets.
The solution: We quickly learned time management and expert business organizational skills. College taught us a lot of that, but it takes on a whole new meaning when it comes to running a company. We asked many different business owners how they handled their own paperwork and different business situations and infrastructure, and learned from people we knew were successful. Applying their techniques to our own business was one of the best things we could have done for ourselves in the beginning.
The aftermath: Our company began to move faster. By this I mean that we now had set rules, regulations and protocol when it came to everyday tasks. This allowed us to maximize our time, take more clients, issue payments and make collections faster, and many other aspects that allowed us to scale more quickly. These systems are key factors to growing a new business.
The Lesson: Once we had everything moving faster and more smoothly, we were able to spend more time on building the business and client base, which ultimately is the key to sustained grow. Structure, organization and systems are the beginning foundations of any successful, growing business.
Connect with Nick on Twitter. Did you enjoy this article? If so, subscribe to YFS Magazine and never miss an update. Don’t forget to make our friendship official and join Young, Fabulous & Self-Employed entrepreneurs on Facebook.
Nick Friedman is President and Co-Founder of COLLEGE HUNKS HAULING JUNK, the largest and fastest growing US-Based Junk Removal Franchise Opportunity. He started the business in college with his best friend in a beat up cargo van, and now is a multi-million dollar operation with multiple franchises nationwide. He was recently named Top 30 Entrepreneurs in America Under 30 by INC Magazine, Top 35 Entrepreneurs Under 35 by Bisnow.com, and is an Ernst and Young Entrepreneur of the Year Award Finalist.
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.