Now that the holidays are over, millions are making resolutions to ensure a better new year. So what better time for contractors to take stock of their business and make their own resolutions toward a more prosperous 2017?
To get you started, here’s a look at some of the resolutions other contractors and industry leaders are making or think you should make this year:
Bill Good, outgoing NRCA CEO: I’d like to see our members resolve to pay more attention to their employees: How they hire, onboard, train and manage them. Without that, our workforce issues will only get worse.
Ryan Shutt, Marketing Director, Renewal by Anderson: Focus marketing efforts on securing more pay-for-performance marketing agreements with vendors to keep overall costs low and minimize spending risks.
For years, newspaper publications, magazines, radio stations, etc. have had pricing models, which force the business buying the ads to truly roll the dice and gamble with their marketing dollars. Any time you purchase an ad or run a radio spot, there is no guarantee that a consumer will pick up a phone and respond to our ad.
With recent decline in traditional marketing response rates, vendors have been forced to explore different pricing models in order to keep revenue coming in. This allows companies, like ours, to negotiate contracts that allow us to pay only for phone calls or leads or even sales in some cases.
So, we no longer pay $2,000 for a full-page ad in our newspaper to run a few times per month. Instead, we will only pay the publication on calls that last 90 seconds or longer. This has allowed us to protect our cost and get ads run more frequently in the newspaper.
Tim O’Sullivan, owner O’Sullivan’s Installs: Our resolution is to get better at communication throughout the project. I think communication is a very important part of what we do.
If everyone involved with the remodel has an open line of communication then things go much smoother and most issues don’t seem as big. It’s construction so there’s going to be issues along the way, but if everyone is on the same page I find there are less headaches.
Dale Contant, president of Atlanta Design & Build and NARI National president:
1. Know your financials/numbers. Target a 5 percent to10 percent net profit goal after your cost to produce and overhead expenses are paid. “Don’t work for wages, your job is tough.”
2. Expand your horizons. Network with successful remodeling companies for tips on how to improve, how to hire quality sub-contractors, ask for a mentor relationship, and develop a discipline on how to broaden your knowledge base.
3. Look professional and be professional. Appearances are important. Aspire to associate with organizations that have educational opportunities, government advocacy and award opportunities to display your quality projects.
4. A positive reputation is very important. Become the “Do the right thing company.” Clients will appreciate it and refer you to others and team members will respect it.
5. Family First. You know what they say, “Happy wife, happy life.” Develop a healthy work/life balance. My biggest regrets were not spending more time with my kids.
Tim Shigley, NAHB Remodelers chair and owner of Shigley Construction Co.:
Resolve to join and become involved with your local homebuilders’ association. It is critical to not only boost your own business, but also to strengthen the remodeling industry and help ensure your business can thrive in the future. Membership will provide you with many networking and education opportunities, and also give you a competitive edge in the minds of consumers looking for qualified remodeling professionals. The relationships you will build will give you a solid base of contacts to turn to share ideas, learn effective business techniques and get advice on how to improve your business.
Got a resolution of your own you’d like to share? Tweet it to @ReplacementMag or put it in the comment thread of this article.
