Posted by The Restoration Entrepreneur
Let’s make a decision right here, right now. Are you going to settle for incremental growth or will you demand transformative growth for your business? Which will it be? Incremental growth means your business will keep doing what it’s doing. You will from time-to-time try to tweak your sales system, improve on what you are already doing, and try to get just a little bit more from your current efforts. That works for many business owners.
Transformative growth, on the other hand, requires risk. It requires you to take bold steps and do things differently, to make reasonable yet radical changes to your business, and to take steps you have never before considered. The two most transformative steps you can take are:
- Become a full-service restoration contractor adding rebuild services
- Make a significant commitment to high volume relationships with TPAs
There it is. Those are the steps that will lead your business to revitalization and transformation. Full-Service If you are an average size mitigation-only company you earn around $500,000 in annual gross sales you are doing about 200 water jobs a year. Those same 200 jobs could produce an additional $2 million in rebuild revenue. That’s an already built-in opportunity without increasing the number of customers at all. Is this opportunity worth some risks, is it worth some learning, is it worth doing some things differently?
What amazes me is that more mitigation-only contractors don’t become full-service. It really is not as hard as some might think and there are loads of examples in our industry where others have successfully done just that. Why not you? Third Party Networks If you are looking for a fresh new volume of work there is simply nothing you can do that will increase the number of jobs you get more than partnering with TPAs. One TPA executive told me he believes that TPAs now manage approximately 70% of ALL property claims in the US. There is scarcely a single insurance company left that continues to manage their claims internally – they ALL outsource to Third Parties.
Are you going to compete against all the other restoration companies in your market for the 30% of leftovers, or are you going to take a bold step to transform your business through this high-volume opportunity that is simply unachievable through any other means? Incremental … transformational. There’s always a choice!
Resource: The Sales Doubler (Fast Track Your Company’s Growth By Becoming a Full-Service Industry Leader) https://growmyrestorationbusiness.com/successes/