Listen to Kevin explain what connected businesses are and why you should consider them before starting your own.
Kevin Daisey (00:01):
Listen to this before starting your next business. What’s up everybody? Kevin Daisey here. So today’s episode is about connected businesses. What is connected businesses? So if there are any of you entrepreneurs out there, maybe you already have a business. And as entrepreneurs go, we like to think of other things to do. So we get bored and we wanna start something else. So I wanna start another company, Dwayne Real Estate. I wanna start a company doing all kinds of things and we, I don’t know if we’re just trying to spread out our risk like a portfolio or we just get bored. So we wanna do different things and, and have new opportunities and new challenges, but really consider connected businesses. And what a connected business is, is a business that is very similar to the business. You already have the clientele or the customers need the same thing is the other business that you can start.
So let’s think about like a house, right? So if I own a roofing company, instead of going, starting a marketing company, a connected business could be a siding and Windows company, or maybe you just offer it within the same business, but if you really wanna stand out as being the best roofer, you probably don’t wanna water that down with. Now we do siding and windows and driveways and whatever, and I literally had a, a friend of mine, entrepreneur reach out to me about this. He owns a landscape company and was wanting to buy a concrete company that does driveways and stuff like that. And he was also looking at working with a doing remodeling out exterior. He was like, Oh, I’d think I can control that all into one and say, I do landscaping, lawn mowing and home remodeling. And con like, you need to separate that out.
You have the same customers you can tap into, but separate brand, separate offering. When that’s little effort compared to starting a whole another business with a whole new audience, new customer base, and you don’t exist, that’s the hardest thing to do, is stand up a new business with no way to get in front of people until you build that machine. So if you have a roofing business, your connected business could be windows and siding. Another connected business could be concrete, driveways, patios, whatever, hardscaping. Another connected business could be pools. So the, the list goes on and you could do decks and fences, totally separate businesses run over under the same roof with the same management team. And then pretty much the same, the same homeowner. So the same customer list. You’re just hitting them with different messaging and marketing and say, Hey, by the way, we, we also own, I hope, I know you loved our
Kevin Daisey (02:58):
Service about, you know, our loved our roof service. By the way, we also helped our customers with roofing inside. And let me connect you with, with this guy over here. He does the sales and whatever. So think about you can scale your business and your offerings without bottlenecking and, and, you know, putting a strain on your current team for say roofs. Cuz hey, our roofing team’s only this big, We can’t hire more people right now. Okay, well, siding windows is a totally different install team. Totally different people. Same customer, bi list, same building, same operations. Now you’re just adding that on. So think about connected businesses, whatever you might doing for marketing, for us, it would not be offering. Like so we, we have Array Digital and we work with law firms. We also Rival Digital, which works with HVAC contractors.
Well, that’s not connected, even though it’s marketing. We have, you know, we still do marketing, but now we have a whole new audience that we never had before that we have to go generate. What would be connected is if Rival Digital for HVAC contractors also offered HVAC contractors, some other service in marketing that we don’t currently do. And so now we can just add on to more offerings to the same client base. So, you know, another connected business would be if we, we did print or we did billboards or anything like that, that was with the same customer base. How can I sell them more things, give them more value and help them out, but I don’t have to go find those customers again. So really think about connected businesses before you start that next venture. Again, we all like to go off on tangents and get, you know, a d d and, and want new challenges, but think about your revenue, think about your scalability and success and really think about a connected business and what those are within your industry.