Should You Diversify Your Moving Business?

Hey, what's up, my friend? It's Louis. Should you diversify your moving company? I've been getting this question a ton lately, and I wanted to address it because I think it's very, very important that you understand the difference between diversification and concentration, right? So when someone's asking me, louis, should I diversify my moving company? The question is, you know, maybe I do local moves now, but I want to start doing long distance. Or I'm doing local and long distance, but I want to do storage. I want to do commercial. I want to start doing freight, forwarding, cleaning kinds of other different avenues. People, you know, have real good reason to say, hey, look, I have a moving company. I could easily get into these other things, right? I understand the logic. I understand why a lot of people want to diversify. You know, maybe you're, you know, coming out of the moving season and you're heading into a slower time of the year, and you're like, you know what? Maybe there's some other lines of work that can keep me busy throughout the year. So I understand the question. I understand where people are coming from. But here's what we need to talk about. Concentration, okay? Diversification is great when there's time when you have everything lined up in order to do what you need to do to actually diversify successfully and not just throw a bunch of, you know, what against the wall to see what sticks, right? It's not about putting, you know, like you're fishing and you're just gonna put a line in each and every pond and see where you get some hits and where you catch some fish. That's not what business is about. Business is about focusing on something that, you know, works and digging a deep, deep hole until you strike oil, until you strike gold. Let me give you an example. If you're trying, if you know that there's gold in this area, you know that there's oil in this area, what are you going to do? You want to dig a deep, deep hole and put all your efforts into digging that hole until you strike gold, until you strike oil. You don't want to dig a bunch of little shallow holes that get you nowhere, right? Not only is it not good for the bottom line, not good, because it's not going to bring in the money that you might think that it is. But you need to take into consideration your mental bandwidth, right? How much can you really focus on at once? And by putting a bunch of stuff out there, hoping that something works, not how businesses become successful, businesses become successful. Businesses reach that next level, because they dial in and they get really focused on one thing, maybe two things. They master those, and then they move on to the next. So before you say, let me go out and let me diversify, say, you know, what is this diversification at the expense of my concentration? Am I going to be all over the place? Because we often. And I do it too. You know, everybody does it. We overestimate what we think we can get accomplished and what we think we can manage at any one given time. But are you managing what you have now effectively, efficiently, profitably? Because if you're not, if you're running, let's say, a local moving company, and you're not making money doing that, going and starting a long distance division or a commercial division or a cleaning company is not going to supplement for the errors in process or lack of process or lack of management or lack of leadership that's there. Take what you have in front of you. I'm telling you right now, there's a lot, a lot, a lot of money to be made. And in local moving only, okay? I didn't get into long distance until seven years in business. Seven years in business. I didn't touch long distance. People would call, hey, we're moving out of state. I'm sorry, we're just a local moving storage company. But I'll be more than happy to refer you to somebody else. We give them the number to somebody else and we'd send it on our way. Now, a lot of people might look at that and go, louis, you're leaving money on the table. That customer called you. They're willing to pay you to do the long distance move, and you're going to give it away. Yes, because I'm focused. I'm dialed in on local moves, perfecting that process, squeezing as much out of it as I can. Because at the end of the day, what do you want? You want to be able to pay all your bills with the company, take care of your employees, have all the equipment and everything you need, but take home some money, too, right? So before you run out and try to solve your money problem with another line of business or another business, realize that you need to perfect what you have. Okay? And when I say perfect, it's never perfected. Okay, it's never perfected, but you can get it dialed in. You can get it to a point where you're not looking at something else. You want to start thinking about diversifying. When you're talking about scaling your business, when you're talking about, okay, everything's lined up. Everything's running smooth. I got people in place, I got the systems in place. What's my next step? And if you're a local moving company, maybe it's I want to open more local moving companies. I want to franchise my business. I want to now start long distance, right? Don't think so hard about diversification. Focus on concentration. Find that hole where the oil and the gold is underneath and dig that hole deep until I see you next time my friend. Go out there every single day profit in your business, thriving your life. I'll see you later. I hope you enjoyed that episode. Make sure you subscribe to the new Moving Mastery Podcast. It's available on itunes right now and it's the exclusive place where I share proven strategies and processes on how to reach higher levels of success in your moving business. Every week I share valuable insights, stories and expert interviews with takeaways you can implement in your business. Right away. You'll get a behind the scenes look and tactical training from my seminars and online training programs on how to improve each area of your moving business. It's called the Moving Mastery Podcast and it's available on itunes or anywhere you get your podcast. So make sure you subscribe. And if you're ready to take your moving company to the next level, make sure you check out my brand new on demand training on how to consistently book more high paying moves all year long. It's called the six Stages of a Moving Company Sales Machine and you can access it right now for free@lewismassaro.com Six stages in this training you'll learn the steps you need to take to increase your sales with a smooth running consistent process. This is the same process I use in my moving companies to book 12,000 moves a year and now I'm training you on how to implement it in your moving company for free. It's available now@lewismassaro.com Six stages before you go, make sure you subscribe to my channel. It really helps support me and the channel and enables me to keep putting out new videos for you. I'd really appreciate it by subscribing. You'll also get a notification every time I release new training so make sure you hit subscribe.