How expanding your building business into the home repair and systems replacement market can reciprocate and help you sell more homes.
In 2008 when the economy collapsed, bank lending contracted and some lending institutions closed their doors. I decided to diversify my business into the home repair services and HVAC sector to guarantee prosperity.
Topics to be discussed:
1) Why should you diversify your business?
2) How to grow and prosper in a slow economy. How diversification accomplishes this.
3) Why most business owners make the mistake of diversifying when they haven't mastered their current specialization.
4) How do you know diversification is right for you?
5) How a highly effective sales department will feed your company's growth.
6) How adding service and repair divisions can dramatically cut your warranty and call back ratios.
Like most boys, from an early age Duane has been passionate about working with tools, tearing things apart, and restoring them for better use. As Duane entered into adulthood he learned to turn his childhood passion into a business. He soon went into the workforce as a professional in the auto parts and auto repair industry. He mastered this field and later expanded his knowledge and skills by transitioning to the HVAC industry.
After 10 years in the HVAC business, Duane started his own HVAC company in 2000. He grew his business from one truck and 1 employee, (himself) to an 18-truck, 21-employee multimillion-dollar business. After about 4 years of substantial growth in his company, Duane began to venture into the real estate industry, specializing in house flipping.
He found success in the area of house flipping and eventually sold his HVAC company in 07ʹʹ and started a building career just in time for the housing crash. With the housing market in the tank he ventured into commercial contracting as well as adding HVAC to his list of services.
In 2010 he was asked to participate in the television show, Extreme Makeover Home Edition when they filmed an episode in Georgia. After three days of working with the crew, Duane knew he wanted to bring the Extreme Makeover Home Edition show to his hometown of Hampton Roads, Virginia. Duane decided to share his vision with the producer of the show. He finally saw it come to pass within 11 months of his correspondence with the producer.
On January 30, 2011 they began the 106 hour build, for a 4300 square foot house. It was a tall task, however, with the best build team and project managers around they pulled it off. In 2014 he became moderator for Bobvila.com where he answers questions asked on the site pertaining to home building and repair. Duane's goal is to help families to solve problems. He does this in a variety of ways by using his gifts and experiences. Moreover, he continues to invest in real estate and build/renovate a variety of properties, including houses and commercial buildings. In addition, he started a radio show which focuses on real estate and building. He is also the Vice President of Build America Construction and Build America Properties.
Duane live in Hampton Roads, VA with his wife, Becky, and three children where they work to help families grow and rebuild on a consistent basis.