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.
Is Your Construction Division Just Too Much to Handle? As a business coach, I talk to restoration contractors every day. Many are fed up with their construction work. It’s too hard, too little profit and way too many customer complaints. Some contractors feel driven by their construction jobs; the work feels out of control as if it has a life of its own demanding way more time and energy than an owner has to give. How do you get back in charge of the work and make it work for you?
Do you provide tools to your construction workers? If you do you’re not alone! Table saws, flooring nailers, paint sprayers and more are each part of your tool inventory. When a tool is needed you have it, if it is broken you repair it, and if it disappears you replace it. How do you feel about that? For those contractors who provide tools whether for your construction employees or for your independent contractors to work on your jobs, you likely frequently experience these problems …
One of the biggest complaints homeowners voice is that their insurance contractor takes forever to get their job done. Despite industry expectations to the contrary just getting the repairs started seems to be a monumental task for many contractors let alone finishing the work in a timely manner.
The Purchase Order is one of the most important systems to help make sure you make money. Purchase orders provide the foundation to effective job costing and insures you get the facts on your production performance and profits. Here are the simple steps to implementing the Purchase Order System
I must admit that I am not very supportive of commissions. Typically, they are used as incentives to get employees to do better than they are already doing at their jobs. Incentives are used to coax the employee into better behavior, higher achievements, and improved results. They are paid extra if successful. The problem is rarely does this work. Rarely does coaxing or incentivizing actually produce better behavior. So the owner ends up paying twice for the behavior that should already be expected.
A change order is any change to the scope of work agreed to by the contractor and customer. In the insurance industry it is typically an upgrade or a downgrade to an already approved item of repair. For example, if a customer intends to change existing damaged carpet in 4 rooms of the house to hardwood the upgrade in material and labor costs represent the change order. So, how do you correctly do this?
For some owners growing their business is given only an occasional thought. But gaining new business, sustaining healthy profit margins, and accelerating gross revenue growth can’t be done in your spare time.
To grow your restoration business your company must pass several critical financial stress tests. Following the 2008 recession Americans became painfully aware of the importance of financial stress tests for banks that were just too large to fail. Stress tests whether financial or physical are indicators of health. Do you have the time for a check up to see how your business is really doing?