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The demand for home remodeling projects is still on the rise, but things remain unpredictable because of the COVID-19 pandemic, social unrest, and current political and economic climate. The title of author Brian Moran’s book ‘The 12 Week Year’ has resonated with Mark because it hits the chord of a lot of the advice he’s been trying to convey. In this section of the podcast, Mark shares how you can integrate the mindset of a 12 week cycle into your business model, allowing you to adjust the scale of what you’re planning to do.
The 12 Week Year allows you to:
- To create the right cadence or the right pace for that time period in terms of energy, focus and intensity.
- Get concrete, specific measurements on a variety of factors, from overhead expenses and production to activities and investments, for that specific window period. When those measurements are concrete and meaningful–and you can hit those measurements–your chances of success are much greater.
- Alter your notion of marketing. By adjusting your scale and mindset, you can leverage your existing client base and focus better on digital marketing efforts to see potential results in terms of business opportunities and new projects. This allows you to track the marketing in a healthier way.
- Look at the team a bit differently. The 12 Week year doesn’t provide much time for misalignments and disagreements. You won’t want to focus on potential, but on behaviors and results instead. This means putting your time and energy on individuals who can work at the pace and energy required for this cycle.
- Understand what you’re going to produce per day in that window of time. This means gravitating towards smaller scale projects, which turn quickly and offer more well-defined results compared to bigger, more time-consuming ones.
- Budget in a way that’s clearer and simpler. Because the 12 Week cycle allows you to track your expenses easily, you can take measures that ensure the best financial results.
- See clearly. Everything has become blurry in 2020, but the 12 week cycle mindset can help define your business. You’ll be able to see your wins and losses, allowing you to plan better in order to reach your goals.
Mark doesn’t suggest you completely alter your business model using this cycle. But in these challenging times, the concept of a 12 Week year can offer satisfactory results and get the team more aligned with accomplishing specific goals, which in turn, help ensure your business becomes healthier and more profitable in the long run.
Interview with Google expert, Nima Oftadeh, Head of Analytics for the Home Services Group
In this section, Mark and Nima discusses the current trends and behaviors in the home remodeling space based on Google and YouTube information, and Google surveys with a panel of homeowners, among others. Highlights include:
- An interesting surge in kitchen and bath remodels even with the COVID-19 pandemic.
- Demographic data around age, gender, and geography reveals that younger, self-declared homeowners are more interested in starting a remodeling project in the next three months.
- Younger homeowners are also more comfortable in going outside and checking showrooms and other retail environments.
- About 30% of homeowners value their homes more because of the COVID-19 pandemic and the lockdown period. There’s also increased interest in aging-in-place features.
- There is more interest in DIY projects, but remodeling contractors can actually benefit from this, as well.
- When choosing a remodeling company, more homeowners put stock on reviews and reputation.
Tune in to Mark and Nima for more details on the latest data and insights relevant in today’s remodeling space.