How Susan Toft Built The Laundry Lady: From a One-Woman Startup to $6M Revenue, 300+ Contractors, and Expanding to New Zealand – A Journey of Bootstrapping, Empowering Families, and Revolutionizing the Laundry Service Industry. (Episode 621 - Susan Toft

Grow A Small Business Podcast

In this episode of Grow a Small Business, host Troy Trewin interviews Susan Toft, founder of The Laundry Lady, shares her journey from starting solo in 2012 to growing her business to $6 million in annual revenue. The company now boasts over 300 contractors and operates across Australia and New Zealand. Susan highlights the unique flexibility her platform offers, empowering families and communities. She discusses scaling challenges, bootstrapping success, and plans for further growth with investments. A must-listen for anyone inspired by innovative, customer-focused business models!

Other Resources:

• From $50K to 8 Figures: Kristi Herold on Building JAM's 450-Person Team, 11 Acquisitions & a Culture of Play

• From Teen Lawn Mower to $20M App: Bryan Clayton’s Journey to 200K Customers & 22 FTE

• 30 Years of Expertise: Matt Raad’s Strategies to Skyrocket Your Business Success

• Angel Investment Secrets: Liz Raad’s Blueprint for Million-Dollar Business Succes

• The "Marketing Funding Flywheel" eBook outlines how to strategically align marketing investments with funding metrics like CLV and CAC to create a self-sustaining cycle of growth for small businesses.

Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let’s get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice.

And a snapshot of the final five Grow A Small Business Questions:

1. What do you think is the hardest thing in growing a small business? Susan Toft highlights cash flow management as the hardest aspect of growing a small business. She explains that consistent challenges with managing finances, especially in the early stages, can lead to moments of doubt about whether the effort is worth it. Understanding financials is critical, but even with that knowledge, limited resources and reinvestment needs can make the journey especially tough.

2. What's your favourite business book that has helped you the most? Susan Toft's favorite business book is "Shoe Dog" by Phil Knight, the memoir of Nike's co-founder. She finds it particularly impactful because it candidly portrays the realities of business growth, especially challenges like managing cash flow during different stages of the business. She appreciates its honesty about the struggles and successes of building a business​.

3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Susan Toft prefers listening to a variety of podcasts that focus on the journeys and stories of entrepreneurs. She values learning from real-life challenges and successes shared by others, as these stories can be motivating and relatable. While she doesn't follow specific podcasts exclusively, she enjoys exploring diverse options to gain insights and inspiration for growing a small business.

4. What tool or resource would you recommend to grow a small business? Susan Toft highlights the importance of having an accounting system that provides clear insights into your financials. She specifically values tools that allow access via mobile devices, enabling her to manage business operations effectively while balancing personal responsibilities. This flexibility helps her stay informed and in control of cash flow and finances, which she considers critical for business growth​.

5. What advice would you give yourself on day one of starting out in business? Susan Toft's advice to herself on day one of starting out in business would be to "just keep going." She emphasizes the importance of perseverance, acknowledging that there will be tough days filled with doubt, but persistence eventually leads to achieving goals and seeing rewards. Her message reflects the resilience needed to navigate the ups and downs of entrepreneurship.

Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey.

Quotable quotes from our special Grow A Small Business podcast guest:

Understanding your numbers is critical—your business success depends on it — Susan Toft Balance in business and life is about integration, not perfection — Susan Toft Stay true to your values — they are the foundation of sustainable success — Susan Toft