From $50/hr consultant to building a $2M agency. Phil Risher grew Flash Consulting with a remote team of 18 by productizing services, mastering content & AI search, and adopting the mindset for 20%+ annual growth. (Episode 768 - Phil Risher)

In this episode of the Grow A Small Business Podcast, host Troy Trewin interviews Phil Risher, founder of Phlash Consulting, shares how he transformed from charging $50 per hour as a consultant into building a $2M digital marketing consulting business serving home service companies. He explains how niching down, productizing services, and focusing on solving real customer problems helped drive consistent 20% annual growth. Phil also discusses the mindset shift from hustler to leader, hiring and building an 18-person remote team, and buying back his time to scale the business. The conversation dives into why content and AI-driven search are becoming critical for modern marketing. Phil also shares practical lessons on leadership, systems, and thinking bigger when building a successful business.

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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? According to Phil Risher, the hardest thing in growing a small business is balancing growth with building the right team. As more clients come in, business owners must hire and train employees quickly enough to maintain service quality, but hiring too early can create cash-flow pressure while hiring too late can overwhelm the team. This constant challenge of managing new client demand, onboarding capable team members, and keeping finances stable at the same time is one of the most difficult parts of scaling a small business.

2. What's your favorite business book that has helped you the most? According to Phil Risher, the business book that helped him the most is Profit First by Mike Michalowicz. He says the book had a major impact on how he manages finances in his company because it teaches business owners to prioritize profit first instead of treating profit as what is left after expenses. The system helps entrepreneurs control spending, improve cash flow, and build a financially healthy business by allocating money into specific categories like profit, taxes, and operating expenses. He also highly recommends Buy Back Your Time by Dan Martell, which focuses on delegating tasks and buying back the founder's time so they can focus on leadership and scaling the business.

3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? According to Phil Risher, some of the best resources for learning how to grow a small business are podcasts, YouTube, and books, especially content that teaches practical strategies. He specifically recommends learning from Alex Hormozi on YouTube because his videos break down business growth, marketing, and sales in a clear and practical way. Phil also emphasizes not relying on just one learning format—he suggests combining podcasts, books, and videos because different formats help you understand ideas better and apply them faster in your business.

4. What tool or resource would you recommend to grow a small business? According to Phil Risher, two tools he strongly recommends for growing a small business are Asana and Slack. He explains that Asana helps business owners organize tasks, projects, and workflows so everything is tracked in one place instead of scattered across emails or spreadsheets, while Slack creates a centralized communication hub for teams to collaborate efficiently, especially as the company grows beyond a few employees. Together, these tools help improve productivity, transparency, and coordination within a growing team.

5. What advice would you give yourself on day one of starting out in business? According to Phil Risher, the advice he would give himself on day one of starting a business is to think much bigger from the start. He explains that when he first began, he was focused on small goals like making $100,000, but over time he realized the opportunities were far larger than he imagined. His lesson is that entrepreneurs often limit themselves by thinking too small, while the real potential of a business can grow far beyond what they initially believe is possible.

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: Success comes from taking information breaking it down and executing on it quickly - Phil Risher The biggest mistake entrepreneurs make is thinking too small about what their business can become - Phil Risher Stop chasing money and start solving real problems and the money will follow - Phil Risher