Most contractors think shutting down a division means failure. Teddy Slack Jr. learned it can be the smartest move you ever make. After running a $3 million environmental company that looked successful on paper but was drowning in debt, Teddy made the brutal call to close it. That decision, and the lessons that followed, became the foundation for SimpleTank, a debt-free, fast-growing tank removal company built on discipline, data, and real profit.

He shares how chasing top-line revenue nearly cost him everything, why factoring and debt made things worse, and how starting over forced him to focus on what actually matters. Instead of more trucks and chaos, he built systems, pricing models, and habits that produced cash in the bank, not just numbers on a spreadsheet.

In this episode, Teddy breaks down what happens when ego meets economics, how to rebuild from rock bottom, and why most “growth” problems in contracting are really profit problems. It’s a raw look at how one shutdown saved his business and turned pain into a playbook for scaling smarter.

What You Will Learn in This Episode
• Why shutting down a $3 million business became Teddy’s turning point
• The real dangers of factoring and personal guarantees in contracting
• How discipline and debt-free growth turned chaos into consistency
• The fixed-price model that doubled his close rate
• How to judge pricing tests over 90 days, not one job
• Why top-line obsession kills profit and peace of mind
• The KPI ladder Teddy uses to run his business by the numbers
• How to build loyalty and brand power in a dirty industry
• What every owner can learn from hitting bottom and starting again

More From Profit & Grit

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If you listen to any of the following shows, we’re sure you’ll love ours too!
 To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group

🎙️ Profit & Grit by Tyler Martin
Real stories. Real strategy. Real results for service-based business owners.

🔗 Website: ProfitAndGrit.com
📍 LinkedIn: linkedin.com/in/thinktyler
📸 Instagram & TikTok: @profitandgrit

Tyler Martin, a fractional CFO for home services and the trades

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