A tale of two fixer-uppers 🛠️

Flashback to November. I'd just taken on two fixer-upper projects…

1. A fixer-upper house, sprawling with land for chickens, goats, horses, and even a separate office building. It's a dream in the making, a place with enough room to grow, both for family and for business.

2. A digital fixer-upper: a new SaaS brand we've acquired. Like the house, this SaaS had its allure—good bones, potential for growth, but a lot of untouched, untapped potential. 

So there I was, staring down the barrel of two substantial projects, both needing a vision, a lot of elbow grease, and a strategic overhaul. 🫠

Here's the thing about potential: it's a double-edged sword.

It's exciting, yes, but daunting. You see the finish line, but the track's overgrown, the hurdles are high, and you're not exactly sure if the shoes you're wearing are going to carry you through… 

But you start anyway because that's what makers do.

Today in 3 minutes 52 seconds:

✔️ Strip it down to scale up

✔️ From disaster to dream

STRIP IT DOWN TO SCALE UP

The first step in both journeys was to strip everything down.

It's counterintuitive, right? You acquire something new, and the first thing you do is take it apart.

But here's the kicker: Mildly working systems are a trap.

They're worse than non-functional ones because they give you the illusion of progress.

So, both in the house and in the SaaS, we pared it down to the studs. We needed to see the bones, the core, to understand what was worth building upon.

Now, let's talk numbers…

After already spending $$$ on buying in, it’s been an additional $227K put into the SaaS—not a small number by any stretch. But it was a calculated move.

This money went into the team, into advertising, the essentials.

When we picked it up, the SaaS was pulling in about $40k a month. Fast forward to now, and we're looking at almost $140k for February. 📈🔥

That's not just growth… that's transformation.

FROM DISASTER TO DREAM

So, how do you take a fixer-upper, be it a house or a SaaS, from disaster to dream?

First, you need to be willing to see beyond the surface. Look for the potential, not just the problems. Then, get ready to get your hands dirty.

1. Strip it Down: The first lesson? Simplify before you amplify. Both in renovating homes and businesses, cutting down to the core helps you understand what's truly valuable and what's merely occupying space. This is your chance to knock down unnecessary walls and smash the outdated bathroom tiles. In our SaaS, this meant taking a hard look at the system that they were running. It was serviceable, but “serviceable” wasn’t our goal. This process also gives a clear estimate of the effort needed to reach your vision.

2. Identify Gaps: Deficits create opportunities. Once you’ve stripped it down to the bones, you can identify where you're lacking. Pay attention to those gaps and make plans to fix them. This is easier when it’s someone else's baby. Put on your new owner hat and be ruthless.

3. Delegate: This was crucial. You can't do everything yourself. Assemble a team of specialists—like the 40 contractors I interviewed for the house. There are experts for everything: HVAC, plumbing, roofing, demolition, cabinets, flooring… The list goes on. It’s the same in SaaS. Surround yourself with experts and allow them to lean into their zones of genius. For the SaaS, I spent $$$ on advertising and a rockstar team… Which added over $115K to our MRR. Trust me, it’s worth it.

4. Standardize Success: Find what works and repeat it. There's no need to reinvent the wheel. Innovation doesn't always mean reinvention. Sometimes, the most effective strategy is sticking with proven methods and making incremental improvements. My wife and I weren’t reinventing door shapes or pushing the boundaries of architecture. We went with designs that are proven to work. Standard, predictable solutions often yield the best results.

5. Invest in Growth: That initial investment might sting, but it's about long-term gains. Both our physical and digital fixer-uppers required a substantial upfront commitment.

Both journeys – the house and the SaaS – are ongoing projects. The transformations are huge, not just in aesthetics or revenue…

But in the underlying processes and mindset shifts that made them possible.

Transforming a fixer-upper into your dream is about vision, hard work, and a willingness to invest in potential.

You’ve gotta see the beauty in the bones and have the determination to bring that beauty to life.

So, as you look at your own projects, ask yourself: Are you ready to strip it down, to see the potential, and to invest in making that potential a reality? 

That's where true growth happens.

👉️ Hit the “EPIC” button below and let me know if you want updates on either/both of these fixer-uppers as they progress. I would be happy to share a deeper dive in a future Margin Makers if folks are interested 👀 

To profiting more and working less. 💸 

-Matt

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