Keeping your revenue in multiple baskets

RCS Influencer Trent Cotney says diversifying your work can create predictable, scalable income. 

Editor's note: The following is a transcript of a conversation with Trent Cotney of Adams and Reese. You can listen to the interview or read the transcript below.

Emma Richardson: Hi everyone, I'm Emma Richardson with RoofersCoffeeShop.com and I'm talking to our RCS influencer, Trent Cotney. How are you, Trent?

Trent Cotney: Good, how are you doing?

Emma Richardson: I'm doing just fine. We're talking about our October influencer topic, which is diversifying services and revenue streams. Trent, anything you'd like to share with the people?

Trent Cotney: Yeah, absolutely. So I'm a big believer in diversifying the work that you get. If you get all your eggs in one basket, you're open to a downturn. So if you're doing residential, make sure that you have a good mix between retail and storm. We've seen the insurance and storm work take a dip here lately. We've heard a lot of complaints, about being able to get paid on time. So having a good mix of retail in there as well as smart maintenance and service, you make more money on maintenance and service than you ever do doing re-roofs from a profit standpoint. I always say two guys in a truck can make you a lot more than a 10-man crew. So regardless of whether you're doing commercial or if you're doing residential, a lot of contractors don't think about doing maintenance plans on residential roofs. But I'm seeing more and more turn to that because it can create predictable, scalable income. And it's a great way to diversify what you're doing.

Emma Richardson: I think that's a really interesting point you say about predictable income. You know, roofs are always going to need maintenance, and you might not be able to guarantee when you have a next new roof coming along, but people are always going to need maintenance done on their roofs. I think that's a really excellent point.

Trent Cotney: Yeah, absolutely. Whether it's the roof itself, gutters or accessories, whatever it might be, there's always something that can be done.

Emma Richardson: Yeah, absolutely. Well, thank you so much, Trent. We'll catch you in November.

Trent Cotney: Sounds good, thank you.

Emma Richardson: Thank you.