I was the general manager of a trades company for many years. Salespeople would come by the office on a regular basis. Each would make their sales presentation, usually taking a significant amount of my time. At the conclusion of their presentation they would leave, often without asking for the sale. More than a few…
Let’s face it: Nobody is going to buy a $10,000 hot tub, a $20,000 swim spa or a $50,000 in-ground pool before checking out your company’s reputation online. Having high-quality reviews on a variety of sites can make the difference in a prospect buying from you or your competition. Why Reviews Are Important Reviews build…
It’s an old topic but it needs to be revisited — again. Has your service department adopted flat-rate pricing yet? If not, it’s time to seriously consider the conversion. Most contractors have very strong opinions about flat-rate pricing, one way or the other. However, the reality is this: If you have actually sat down and…
We are all familiar with the definition of insanity: doing the same thing over and over again while expecting different results. So the question is, do you have 30 years of experience — or one year of experience repeated 30 times? Wise, profitable companies review past performance, make necessary changes, and move forward. 2016 is…
As an organization grows, processes and standard procedures evolve. The new person needs training, so someone jots down the steps in a couple of key procedures. Perhaps a prospective customer wants to know how you’ll service their account, so you put it in your proposal. Gradually, stopgap procedures and one-time solutions begin to accumulate. You…
You’re driving your family on a road trip, back before GPS or Google Maps. It seems like you should have arrived at your destination by now. The kids are asking, “Are we there yet?” Your wife gently suggests you might be lost. What’s your reaction? “I’m not lost; we will arrive soon.” Twenty minutes later,…
A well-run service department should be making money, producing a 15 to 20 percent net profit. In fact, your service department should be the most profitable department within your company, but it’s usually not. There are two reasons most companies find service unprofitable. First, they are not priced properly. It costs a lot to run…
Most company owners spend more time planning their vacation than they do planning for the growth of their company. Let’s take a fictional family vacation and draw a few comparisons between vacation planning and business planning. Let’s assume you live in Winston-Salem, N.C., and you are going to drive to Fargo, N.D., for your family…
Not following the payment structure I described in part three of this series can cause you big problems. Customers who deviate from this will cost you a lot of money, not only in not getting paid but also in attorneys’ fees. In your sales contract, add a binding arbitration clause. People argue this with me,…
Every company has some version of MSP — marketing, sales and production — and it is an extremely valuable tool. However, few use it in the manner I am about to describe, and I think we are often doing it all wrong. Most companies spend money advertising, then they or their salesperson runs to the…
The most important time in your business is the time you take away from your business. Call it what you want — vacation, holiday, retreat, getaway — but the longer you stay away, the better you and (probably) your business will be. There is a certain serenity in being away from your business: It clears…
What do you want from your life? Such a loaded question and not easy to answer. Most have a general idea within a few minutes; a more detailed definition is usually a week or so away. The problem with this question is the societal and self-imposed walls and limitations we put on ourselves. As young…