After 20 years running Classic Homeworks, owner Richard “Rick” Pratt (Big50 2004) wanted time for his hobbies and sought a way to manage the company on a part-time basis. Though the strategy never came to fruition, the strong systems he had built gave his company value and allowed him to sell the business in 2005 and create a new job where he sets his own schedule.
In the consulting business, Bridgeman Endeavors, Pratt uses what he learned running his own successful $1.6 million company to help other remodeling company owners improve their businesses.
“Too many contractors run their companies on intuition,” Pratt says. “By developing systems, they have the ability to teach others to run the company through those systems, and have something to pass on to [others].”
Working with remodelers across the country, Pratt uses a program called GoToMeeting by Citrix that allows him to view what is on his client's computer and vice versa — remotely. “I can pull up a form that would be helpful to them or they can show me an accounting worksheet,” he says.
Pratt finds great satisfaction in sharing his knowledge and seeing companies become more profitable and successful. And the new schedule gives him time to pursue his skiing and mountain biking hobbies.