Mastering Business Budgets: Insights with Lawrence Castillo

The Home Service Expert Podcast

Tommy Mello

Business, Management

4.8 • 705 Ratings

🗓️ 7 July 2025

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this conversation, Lawrence Castillo shares his insights on building a successful business in the HVAC industry, emphasizing the importance of budgeting, recruiting top talent, and learning from mentors. He discusses the challenges of operating in California's market, the role of technology in business growth, and the significance of maintaining healthy profit margins. The conversation also touches on effective marketing strategies, the debate between acquisitions and greenfield opportunities, and the power of customer reviews in driving business success.

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00:00 Building a Strong Budget

02:52 Recruiting A-Players for Success

05:57 The Journey of an Accidental Entrepreneur

08:37 Learning from Great Mentors

11:33 The Importance of Process and Accountability

14:39 Navigating the Challenges of California's Market

17:49 The Role of Technology in Business Growth

20:35 Understanding Healthy Profit Margins

23:30 Marketing Strategies for Success

26:11 The Debate: Acquisitions vs. Greenfield

29:04 Creating Demand in Home Services

32:01 Negotiating with Vendors Effectively

34:53 The Power of Reviews in Business

38:00 Final Thoughts and Advice for Contractors

Transcript

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0:00.0	You have to know your business and be in it in order to build a good budget.
0:04.0	It's more than just the numbers.
0:05.5	Talking to your vendors, talking to your friends in the same marketplace,
0:10.0	that will help you to build the proper budget.
0:12.6	Welcome to the Home Service Expert, where each week, Tommy chats with world-class
0:17.6	entrepreneurs and experts in various fields, like marketing, sales, hiring, and
0:22.5	leadership to find out what's really behind their success in business. Now, your host,
0:28.7	the Home Service Millionaire, Tommy Mello. Before we get started, I wanted to share two important
0:34.3	things with you. First, I want you to implement what you learned today. To do that, you'll have to take a lot of notes, but I also want you to fully
0:41.6	concentrate on the interview. So I ask the team to take notes for you. Just text,
0:46.9	note, N-O-T-E-S, to 888-526-1299. That's 888-526-1299, and you'll receive a link to download the notes from today's episode.
1:00.5	Also, if you haven't got your copy of my newest book, Elevate, please go check it out.
1:05.4	I'll share with you how I attracted and developed a winning team that helped me build a $200
1:09.1	million company in 22 states.
1:11.4	Just go to elevate and win.com forward slash podcast to get your copy.
1:15.8	Now let's go back into the interview.
1:17.6	All right, guys, welcome back to the home service expert.
1:20.6	Long afterdo, we've had some technology problems, but I got Lawrence Castillo here.
1:24.9	He's a expert in operations scaling and strategic planning.
1:29.6	He's based out of L.A.
1:31.1	He's the president-operating partner of Brody.
1:34.5	Oh, man, my eyes.
	...

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