Home Remodeling Company CEO finds himself Remodeling his Business with SBA’s T.H.R.I.V.E. Emerging Leaders Reimagined program
Joshua Dean entered the Homebuilding industry in 2004 through furniture making and working in a custom cabinet shop. In 2013, he had a mentor that brought him into his company, Precision Homecrafters, LLC. Early on, his mentor discussed selling the business to him after his retirement and in January of 2020, Mr. Dean assumed full ownership of Precision Homecrafters.
When Mr. Dean started the SBA T.H.R.I.V.E. Emerging Leaders Reimagined program (T.H.R.I.V.E. program) in 2022, he had 6 employees and approximately 1.4 million in revenues. During his participation in the program, he had the opportunity to buy out a competitor who was looking to retire and the acquisition served as inspiration for his strategic growth goals. By the end of the program, he was setting goals to triple his business in size, revenues, and to be the best home remodeler company in central Alabama. After finishing the program, he did acquire the business and its employees. As a result, Precision Homecrafters was generating more work than ever which led to Mr. Dean to acquiring a third business, a sole proprietor carpenter, who now works full-time for him.
As per his Three-Year Strategic Growth Plan, he brought on more people to do marketing, they now have two marketing employees with a solid plan that is generating leads for business. Additionally, he has hired a full-time accountant to monitor the financial health of the business. By working on the business and less time in it, he has been able to delegate work to enable himself to have more free time to set other goals for himself.
In less than a year, he has reached his goal of tripling his staff and is projected to earn approximately 5.2 million in revenues by the end of 2023. As a result, he has had to readjust his strategic plan because there are still many opportunities for growth on the horizon. While the T.H.R.I.V.E. program did not create these opportunities for him, he stated that his approach and decisions about the acquisitions were largely shaped by his learnings from the program. During the acquisitions, he came to realize the true value of the T.H.R.I.V.E. program. He stated that “T.H.R.I.V.E. forces you to focus on the fundamentals of business, a plan, and a strategic path to grow. When I saw other businesses that were not as successful, it was usually because the owner either lacked a true plan or the fundamentals.”
Mr. Dean is incredibly grateful to the program and stated that it made him realize that up until this point, he had never actually let himself dream, let alone, dream big. Now, he is dreaming bigger than ever! His new goal is to replicate his business in other Alabama cities and be the best home remodeler company in all of Alabama. He stated that “the T.H.R.I.V.E. Program” is changing lives - his, his family, and the families of the 16 employees he now employs.