Since January is the year for resolutions, I want to get on my soapbox to encourage you to make some important resolutions for your business. Pledge to take these actions and you’ll see productivity, efficiency, and team morale all improve. And when these essential parts of your company improve, profits will follow.
Resolution 1. Create a Plan for Profit! Smart remodelers take the time to create a plan for their business on paper so they can see exactly what they need to sell during the year and at what price. Without this powerful piece of paper, also called a Budget, you’re flying blind.
Resolution 2. Praise more often. Let your valuable team members know that you appreciate their efforts. Everyone wants to get an “atta boy” once in a while and your employees are no different.
Resolution 3. Focus on customer service. This is a key to long term success and will help you rise above competitors who don’t understand how to run professional businesses. People will still pay more for a great experience.Talk to your team about the importance of beating client’s expectations and how each individual on the team can impact this.
Resolution 4. If you’re thinking about hiring this year, hire the best people you can get. Don’t get scared by the higher price tag. Superstars will bring so much productivity to the table that they will quickly earn their keep and more.
Resolution 5. Get the word out! Most remodelers who are succeeding today have increased their marketing budgets from the 1-3% of revenue to 3-5%. Include a healthy marketing allocation in your budget and then track the results. Ask everyone how they found you and then tweak your plan regularly to get the most bang for your buck. If marketing has been on the back burner for years, it’s time to bring it up front and center.
Resolution 6. Make Meetings a priority! Yes, yes, I know that you see your Production Manager every day and talk about projects on the fly but it’s not the same as holding a sit-down meeting during which you eliminate distractions and focus on production issues and opportunities. Scheduled meetings should be a priority for you and your team.
Happy New Year and I, for one, am expecting 2012 to be a blockbuster!
For more information on Remodelers Advantage and the array of services they offer to help remodelers build strong, consistently profitable businesses, visit our web site at www.RemodelersAdvantage.com