5 Tips for Contractors to Close Out 2018 on a High Note - Digital Marketing for Contractors And Home Services Businesses | Contractor Marketing Platform

HARDWORKING MARKETING FOR HARDWORKING PEOPLE

17

Oct

2018

5 Tips for Contractors to Close Out 2018 on a High Note

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This article was originally run by Pro Remodeler. Click here to download PDF version.

I like to think of the year as a marathon. In a marathon, there is a beginning, middle, and end. In the beginning, you’re establishing a cadence and sizing up the competition. In the middle, you’re executing your plan and maintaining an efficient rhythm. Then, in the end, you face the final leg. This is where you dig deep for the extra 10% that can make the difference between winning and losing. This may mean outrunning a competitor or just making sure you don’t trip.

In the normal cycles of the business year, you also have a beginning, middle, and an end. The following are a few ideas to consider as you enter the final leg of 2018.

1) Determine your three top priorities.

They may be finishing a few projects with all hands on deck or finding ways to defer overhead expenses to maximize the profits for the year. You might want to focus on positioning yourself for 2019 by making a key hire or promotion. Whatever your business needs, by articulating and focusing on only three top priorities, you have a real opportunity to achieve a great final kick.

2) Get aligned.

Remodeling is a team sport and it’s hard to achieve strong results without everyone pushing together. Most owners carry too much on their own backs and often fall short with the results. Getting team alignment and buy-in is a process. It takes discussing the “why” behind the priorities. This involves listening and structuring the goals so they are achievable.

3) Be aggressive but realistic.

You need to dig deep and aggressively attack the final leg. Create a context of the amount of hours in the remaining weeks that is aggressive (working hard) but also realistic. Finding the right cadence for the final leg will allow you to cross the finish line well positioned for 2019.

4) Create a plan.

This may sound obvious, but it’s where many businesses fall short. Most companies have an annual budget with goals, but the final leg plan is like a fourth quarter plan in football. Also, as with a remodeling project, you need a blueprint (written down) for this final leg. This includes regular communication huddles, milestones, and the right levels of accountability. Not having a plan will result in failure most of the time.

5) Celebrate.

It’s important to give yourself and your team the gift of celebration if you want a great final leg. This may be monetary or it may be doing something special. An appropriate celebration creates a nice dynamic for next year’s final leg.

For some, these tips may sound elementary. However, I see many owners going into the new year with pie-in-the-sky plans that they have never achieved before (and probably won’t without a good final leg now). I also see many leadership teams that don’t really believe in the owner’s vision. By focusing on the final leg, you can break this pattern and position the business well for the future.

Mark Richardson

Mark Richardson is highly regarded as a pioneer in developing standards of professionalism in the construction industry. After more than 30 years with Case Design/Remodeling as President and Co-Chairman, he is in high demand as a national educator, speaker and author. As a spokesman for the industry, Mark is a featured columnist and contributor for publications such as Professional Remodeler, Professional Builder, Residential Lighting and Big Grower. His insights have appeared in Money, The Washington Post, Better Homes and Gardens, Fortune and many others. As a leading business advisor, Richardson has worked with many leading remodelers, manufacturers and distributors and serves on boards for GE Capital, the Better Business Bureau, Roxul, Mosby Building Arts, Harvard, Advantage Media, The Vinyl Siding Institute, Neal Kelly Companies as well as others. Mark was inducted into NAHB’s Hall of Fame as well as honored as Ernst & Young’s Entrepreneur of the Year for the Real Estate and Construction sector in 2006.

By Mark Richardson | 9 months ago |

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