How a complementary partnership struck triple digit growth in 2 years
After selling his IT business and taking extended time off it was time for Karl Gaines to take on a new project. Enter Garry. Garry had been finding it difficult to grow his security business, IQ Security and was therefore ready to sell.
After several discussions Karl bought in. The complementary partnership enabled Garry to continue excelling with his technical skills as Karl stepped in to organise and streamline the business infrastructure. As a result, in the last two years, they’ve seen triple digit growth.
Setting up for growth
IQ Security had built a good customer base and a good reputation but things were 'a little hectic' behind the scenes when it came to internal processes. Putting systems and structure in place was the first item on the agenda.
“simPRO allowed us to tick off how we quoted, how we assign jobs, manage those jobs, how we schedule those jobs and how we invoice those jobs”. Karl Gaines, Director. IQ Security
Now they’re able to focus on their goal to either acquire, or be acquired.
Every job accounted for
Karl recalls the days when he originally bought into the business. There was room for improvement regarding how jobs were recorded, assigned and invoiced. When simPRO was implemented an immediate boost in profit was evident based on the work being fully invoiced.
“Behind the scenes things were a bit hectic.”
Faster quotes and invoices
Salesman Sean, can return from a client visit and turn around a quote in 3 or 4 minutes in simPRO Enterprise, in Excel it used to take him 3 or 4 hours.
Karl’s moment came when he realised that it doesn’t matter whether 10 or 10,000 jobs are complete, in simPRO they can all be invoiced with two clicks.
“Putting in systems and structure allows you to focus on things that are more productive that’s going to grow the business.”
Staying ahead of the game
IQ Security pride themselves on being specialists in their field. Rather than trying to offer a range of options, they offer the best option. Based on experience IQ have chosen to offer the best brands available and advise clients why they’re the best option. As a result the technicians are experts and are able to install and efficiently diagnose issues rapidly.
IQ also have remote access to every single site, another huge efficiency gain for both the customer and IQ.
Staying competitive means thinking ahead of the game. IQ are rolling out a fixed monthly subscription option to their clients so they can better predict the annual cost of security maintenance.
The growth isn’t stopping
In the early days the increase in profit was significant simply due to more jobs being invoiced, more accurately. And, in the last 2 years they’ve experienced triple digit growth.
Grow your people
A common theme we often hear recurring in our Journey stories is that of investing in staff. Not necessarily a monetary investment but helping them to grow and understand where they want to expand personally.
If you help your people to grow they’re going to actively help your business to grow. It’s a common theme among our most successful clients.
With everything taken care of in the office Karl can rest as he takes time out with his family to pursue the kinds of adventure activities they like to do on the weekend.
Putting systems and structure into place has freed up Karl’s and Garry’s time in the office. Now he’s able to focus on things that are more productive for the business.
Watch the full story below.