£2.5M in 5 Years! But Profit is Disappearing in This Waste Business

Michael Miller, a former Navy serviceman, transitioned to the waste management industry after working in Australia. He built his business from a one-van operation to a £2.5 million revenue company with 30 employees over five years. The episode discusses Michael's core challenges, which include developing B2B growth channels, rising operational costs, and declining profit margins due to competition. He highlights the importance of maintaining a balance between price and service in a commoditized market.

Michael shares his future goals of expanding his annual revenue to £3.5 million and a long-term aspiration of reaching £10 million with a 20% profit margin. Strategies discussed include forming partnerships with housing associations and facility management firms and the potential benefits of acquiring smaller companies. The episode emphasizes the need for effective marketing, personal branding, and the importance of a solid online presence to drive customer acquisition. The hosts also recommend innovating by bringing services in-house to increase profit margins. The episode wraps up with insights on balancing operational tasks against growth activities, encouraging Michael to delegate more administrative duties to focus on strategic growth.