Go big or go home. That is how Mitch Willie looked at his company in 2020.
The owner of Axis Vac & HDD, profiled in this issue, bought a bigger directional drill and added other equipment and staff in 2020 — all in an effort to secure bigger jobs and, of course, to bring in more cash.
If you’re the owner, or even an employee of a company, the thought of purchasing bigger equipment, adding staff or going for those bigger jobs might scare you a little bit. And they should. There is always risk when you want to take on any of those challenges.
There are rewards too, though. Your company won’t grow unless you are willing to take risks. You won’t grow as an employee if you aren’t willing to advance with the company and learn to use the bigger equipment and take on those bigger jobs.
Willie admits throughout the profile that he was worried about the purchases and what it meant for his company — especially the debt — but so far his company has done very well and is showing no signs of slowing down.
Taking big chances on your company isn’t for everyone. If you feel like you might be ready for that, explore all of your options first. Maybe buying outright isn’t the best for your company right now, maybe it would be better to lease the equipment.
Always discuss your company’s growth options with someone you trust — a business party or a financial advisor. Make sure it’s something you can take on and it won’t take down what you’ve built up.
TAKING THAT NEXT STEP
If you want to go big and get that equipment purchased, why not check out The Utility Expo, which is coming up Sept. 28-30 at the Kentucky Exposition Center in Louisville, Kentucky.
The show, formerly called ICUEE, has grown bigger since it was last held in 2019. The event now includes a show floor that is expanded to nearly 1.32 million square feet, featuring more than 800 manufacturers and service providers in the industry.
The Utility Expo, which is the largest event for utility professionals and construction contractors, is known for offering attendees the ability to test drive equipment and attracting professionals from all utility sectors.
I look forward to this show because it’s a great opportunity to see what new equipment is on the market and what is coming ahead. If you get the chance, definitely check it out! For more information on the show, visit www.theutilityexpo.com.
YOUR GROWTH
How is your company planning to grow this year and the years ahead? I would love to hear your ideas of going big — whether it be with equipment purchases, expanding your work area or adding to staff.
Your ideas could help other contractors similar to you who are struggling to find a direction. Email me at editor@digdifferent.com or call at 715-350-8436.
Enjoy this issue!
