Landon and Hailey own Aurora Lights, a $3 million lighting company that's half a million dollars short on profit after a fire. When Landon hit a mental health crisis, they discovered deeper problems in how they ran the business. Mike Andes maps out a six-week plan to cut costs and double profits.
I turned down an offer from Hermosi. Out of curiosity, what did he offer you?
You can't pay money for us.
Today we're in Texas visiting Landon and Hailey from Aurora Lights. This is where the fire happened. I'm functioning off probably about 2 hours of sleep.
Y'all do checks in cash or no?
Never. That's why you have $200,000 in receivables? Yeah. Their permanent lighting business made $3 million in revenue last year. If I sold the business right now, I could retire.
Q2 is not profitable. Q2 mergers us. I'm overwhelmed. There's so many things to fix. There's so many hats to $2,000 customer acquisition cost. We make no money on that.
But due to a mental health crisis, Landon had to step away from the business for 5 months.
Hailey and I are going to therapy and it's bringing up a lot of difficult things that we need to work through. I know what it's like to stare down suicide. I think there's about 6 months there that I hardly worked, if worked at all. It revealed cracks in the company's leadership. We're probably short about half a million in profits. That's a big, that's a big hairy problem. What happens if this all comes crashing down? I can't provide for my family.
Yeah, sometimes it's difficult because When I'm talking to an owner, I actually feel like there's personal issues that are causing the business issues.
I think part of the reason this hasn't worked out is because you have been closed off to it.
This is the Business Turnaround Show. My name is Mike Andes. I'm the founder of Augusta Lawn Care and HomeWorks software. I travel the country fixing struggling businesses. That is your margin. So if you can get rid of that, you're able to double your profits. That's a big hairy problem, but on the other side of big hairy problems, we got good things. Our goal is to give Landon and Hailey a strategy to turn around the company in the next 6 weeks.
I mean, this could be groundbreaking. We can stick the landing, then this becomes, uh, this becomes everything. There's nothing else like this. Yes, I'm in the trenches. Yes, it sucks.
But man, sometimes those trenches are beautiful.
Yeah, the implementation of this is gonna be nuts. Oh, it's gonna be nuts.
