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Business Planning
What The Tour de France Can Teach You About Pricing
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As a much former cyclist, I like to watch the Tour de France on TV. They developed a package this year that I thought was a great bargain…until it got stale. Watch the video for the rest of the story.
Do You Adopt New Technology Early?
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While I am a huge tech geek, I tend to let others beta test new products. And while new tech is cool, typically the learning curve is a pain to deal with. Finally, sometimes the new tech isn’t better, and you find yourself going back to what you know, as in the case of my trusty BlackBerry!
Use Cheap Cards From VistaPrint to Segment Your Contractor Business
I like to market specific product or service lines inside of companies. It is easier on the consumer to understand and respond to. Problem is, your printed material (business cards, brochures, etc.) have to be all things to all people…or do they? Using a cheap web-based business card provider like VistaPrint can help you ‘silo’ or segment your business.
Getting Things Done…Before There Was a GTD
I am a new member over on RemodelCrazy.com’s forums, and have been involved in a few of their webinars on sales and marketing. And while everyone on the forum seems to be pretty smart business people, they seem to suffer from the same affliction many of my clients do:
Not enough time in the day
24 hours-the great equalizer – No matter how much money you have or how much you pray, we all get the same amount of time to get things done. Which means the squeaky wheel gets the grease. Which means many times the important things that NEED to get done get pushed to the back-burner.
One of the worst things you can do to lose your way on a daily basis is check your email first thing in the morning. As you well know, whatever is on fire in your inbox will be what consumes you first, instead of what you should focus on, which is what makes your company money.
So here is a book tip to get you focused on executing, it’s called, what else:
Execution: The Discipline of Getting Things Done (aff. link)
It has been out for a long time, probably 10 years now, but I refer back to it a lot when I think I am getting too bogged down in the minutiae of my own daily grind and I need to center myself again on the core of my business.
Focusing on clients and client acquisition…and so should you!
So here is what I do, each night I make a list of the things I HAVE to accomplish BEFORE I check in on things. Once I clear my plate, then and only then do I get involved in what’s happening for that day.
Now, this may not work particularly well for everyone, but I bet there are things you could do in order to execute better. But if you focus on the topics that make you money first, then everything else second, you will finish your days feeling more like you were able to accomplish something instead of that nagging feeling that you didn’t get anything done. To help, make sure you get the book and put it to good use, your bottom line will thank me for it!
Quick Tip For Contractors #27 Hire Some Help!
Jordan had Pippen, Montana had Rice, You need to have a team of people who can help you beat out the competition in your market. If you plan on staying around for a while, you should consider having the following professionals on speed dial:
- A solid accountant
- A great bookkeeper…there is a difference
- I am afraid to say it, but an attorney too
- A great relationship with the bank manager
- A marketing guy (or girl)
Being able to pick up the phone and talk to one of these people can really help you out in a jam, so reach out and make some calls!
Building a Family, Then a Company
I had a consult with a 30-person remodeling contractor last week and I just have to share the story with you because it was unlike a meeting I have had for some time. While we walked the grounds of the shop the owner turned to me and mentioned that they had had their first baby last week.
Now, my guy is in his 60’s (not to say that matters) but I said he was going to have his hands full with the new arrival. He politely corrected me by saying that the baby wasn’t his and his wife’s, but that the company had had its first baby.
I thought that was really cool
He went on to say that not one, but two couples have met and gotten married at his company, and that he was very proud of that fact that people where secure enough with him and his business to “grow” themselves – first with a relationship, then a marriage and finally children.
As a business owner, it feels good when your people decide to take root and make a “home” away from home at your place.
And there are economic realities to consider as well
Having happy people who are content to call your company home should result in better production, higher profitability and lower costs. If you are creating an environment where everyone is “family” is more than a marketing slogan, then you should feel good about yourself and the opportunities you are offering people besides just a steady paycheck.
So my question is…
What are you doing to foster a climate in your organization where people feel good about staying with you? Even if you don’t have any employees, I am sure you have a family who certainly has a vested interest in your success!
Which is it?
Let me know in the comments below if you are trying to make your company one where people want to stay for years, or do you think this is too touchy-feely and everyone should just get back to work.
Financing Available
This post has nothing to do with marketing, but everything to do with the future success of your business. In fact, these two little words, which you never had to worry about in the past, can mean the difference between making payroll or going bust, that’s how important they are in today’s economic climate.
The past is behind us
No other industry benefited more from the housing boom and free-money loans available to homeowners than the construction industry. People had massive amounts of equity in their homes and used them like ATM machines for vacations, cars, colleges and yes, home improvements.
But then the economy went to hell in a hand basket…
Now, people are ecstatic if they can make their mortgage payments much less pull out more cash. But if you are a smart contractor (and I know you are that’s why you are here) then you know homeowners have put off repairs for some time now and they will NEED to start doing some renovation projects soon!
Problem is the bank is closed!
All the home equity lines of credit have been called in and the credit cards are maxed out, so how do your prospects get the cash they need to hire you?
Financing Available to the rescue
If you leave this part of the construction process up to the home owner to figure out on their own, then you are missing a huge opportunity. Think about it, two proposals, similar in scope and pricing, but one offers assistance in finding a lender and the other doesn’t. Who do you think gets the business if the prospect needs a financing?
Building bank relationships now can have an evergreen effect
Imagine a banker sitting with Mr. and Mrs. Smith who are applying for a home equity loan. They want to do some much-needed repairs before the house starts falling down around their ears. Now, Mr. and Mrs. Smith have no idea where to start when it comes to finding a reputable contractor and they ask Mr. Banker for a recommendation.
Now imagine for a second you have given Mr. Banker 2 or 3 deals to work on over the last couple of weeks, who do you think Mr. Banker is going to suggest to the Smiths?
Win/Win right? Well it gets better!
I know finding financing isn’t part of your core business, but added another trust factor and a reason to do business with you versus your competition is a great way to land new business as the economy recovers.
So, do you already offer financing assistance? Are you planning on offering it soon? Tell me what your thoughts are and how it can help improve your business.