Remodeling Mastery by Mark G. Richardson
In This Episode
As a business owner and a home improvement contractor, it’s more important than ever before to be innovative. In this episode, Mark G. Richardson shares 10 ways how you think about innovation and get ahead of the competition.
Today, more than ever before, it’s important that you are innovative. The home improvement industry as a whole is quite resistant to change. For the most part, the processes used for installation has not really changed in the past 20 to 50 years. The same can be said for products and the materials used. Many companies still rely only on past customers and personal referrals as their way of generating new business.
Whether you like to admit it or not, the home improvement industry is undergoing a radical change in which referrals may not be enough to sustain long-term success. Thanks to technology advancements, things are quite different than what they were 10 to 20 years ago. Back in the day, you were the product expert. Now, homeowners will often know more about the products and processes than you do because of the research they’ve done before contacting you. You used to be able to respond to a new lead within 24 to 48 hours and be confident that they would become a new customer. Today, homeowners expect a response within the hour or else they are moving onto another business. Time is not on your side anymore.
“If a business is not changing, it will become irrelevant.”
Mark G. Richardson’s 10 Tips for Innovation
- Question how you’re doing things within the organization and start actually to think about innovation.
- Dedicate some of your time to focus on training yourself and how to think about innovation.
- Take inventory – it’s great to have ideas, but do you have the resources and time to actually do it?
- Think big. Start small. Act fast – you won’t want to miss this tip when you’re listening!
- Analyze how others are succeeding – are there models that could apply to your business?
- Look for new products that you can incorporate into your business model as it relates to clients and employees
- Get a champion – find one or a few passionate people within your organization to lead an innovation committee.
- Expand your thinking beyond your company – Get your strategic alliances and partners involved in the innovation discussion.
- Be smart – Don’t jump into the deep end, make a big splash and cause a ton of disruption that hurts productivity and efficiency. Take a piece of the business you want to innovate, test with a few individuals, and then evaluate the difference.
- Act now – don’t sit by and watch others innovate and get ahead of you.
At the end of the day, if you and your team can brainstorm and be innovative in smart ways, you’re going to find success.
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