[Podcast] Episode 16: Creating an In-Demand Company Culture with Dan Dowdy

 

 

 

The #1 challenge that contractors – even Wealthy Contractors – share with me daily is how they struggle to find good help.

One Wealthy Contractor who has not only overcome this challenge, but has turned it into one of his company’s greatest strengths, is Dan Dowdy of S&D Plumbing.

Dan has created a company culture built around customer service and FUN that attracts young, talented employees. This reputation for being passionate about their customers and their employees has driven S&D Plumbing to transform their business in the past six years.

To listen to The Wealthy Contractor Podcast, just click here now.

 

The Overlooked Way To Instantly Make Every Customer More Profitable… Generate More Referrals for Your Contracting Business

Every contractor wants more profit. Sometimes you squeeze expenses; sometimes you raise prices. But what if you could instantly make every single customer INSTANTLY more profitable? Would you do it?

How to Generate More Referrals for Your Contracting Business

The overlooked strategy is simple and you can implement it immediately. That’s right—by the end of the day your customers will be instantly more profitable from now on, if you just implement this strategy.

The strategy is to generate more referrals for your contracting business. If you get more referrals from your customers, every single customer becomes instantly more profitable:

  • Your income generated from one customer grows because of the referral sales you generate.
  • New customers don’t require costly marketing to be sold on your services.
  • New customers who have been referred from your customers are more likely to buy from you, regardless of your price and even regardless of what other quotes and estimates they may have received from your competitors
  • Each referral you receive builds on itself (and builds your business), especially when Customer A refers Customer B, who refers Customer C, who refers Customer D, and so on.

Chances are, this information isn’t new to you. Chances are, you’ve tried to get referrals for your contracting business from customers in the past but the practice wasn’t consistent or the results didn’t convince you that it was worth your time.

Unfortunately, that’s reacting to the symptoms of the problem rather than the underlying issue. You see, inconsistent implementation and a lack of results are NOT the problem; they’re the symptoms. The problem is a lack of a referral system.

Implement a System to Generate More Referrals for Your Contracting Business

Implement a referral system, and you cure the problem. Suddenly, referrals for your contracting business become consistent… and game-changing for your business. One of our clients, Arry’s Roofing in Tampa Bay Florida, implemented a referral system and today their referrals are worth MILLIONS of dollars to their bottom line.

The system:

  1. Start by delivering AMAZING service to your customers. (Most contractors fall short in this first step because they only deliver what was expected instead of going above and beyond).
  2. Thank your customers for their business. No one does that anymore and customers want to feel appreciated.
  3. Stay in touch. Customers value your communication and staying in regular contact will keep you at the top of their minds.
  4. Create a Referral Rewards Program™. This is where a lot of contractors struggle because they may have a referral incentive but they don’t turn it into a referral program that keeps it fresh and engaging for customers. (There’s a big difference between just having an incentive and having a full-blown referral program.)
  5. Make a HUGE deal about the referrals you get. Your customers should feel tremendously appreciated when they refer someone to you.

In my experience, contractors who tried asking for referrals but stopped because of a lack of results usually struggled in one or more of these parts of the system. But when you get this system running like a finely-tuned engine, you’ll start generating more referrals for your contracting business more often.

Want to instantly make your customers more profitable? You can do it today by implementing a referral system that makes the process simple and automatic… And more profitable for your business.

For more insight about referrals come join us in the webinar “Need More Referrals?…Here’s How” on Wednesday, June 7th to receive a step-by-step process on what exactly Arry’s Roofing does to make themselves extraordinary.

[Podcast] Episode 15: How to be More Profitable with Dave Yoho

Your contracting business generates an income but how much of that do you keep as profit? And, what if you could keep even more profit in your pocket?

There’s one EXPERT you need to hear. When it comes to profit, Dave Yoho has a ton of insight to share. At the age of 28, Dave founded a home improvement company; by the 1970’s he had grown it into the largest home improvement company in the US. Today, Dave is a widely sought-after author, speaker, and expert on home improvement companies.

I can’t wait for you to hear Dave’s insight on the newest episode of The Wealthy Contractor Podcast™.

In this episode, you’ll hear Dave’s best strategies to keep more money as profit this year. You can even start implementing his strategies right away!

Plus, he’ll share with you how much profit you should be keeping in your business!

How to Sell at Prices Higher than Your Competition and Still Generate More Leads for Your Contracting Business

One of the most obvious ways to grow your profits is to raise your prices.

However, if you simply raise your prices without adding value, you’re not only cheating your customers, you’re ruining your reputation.

Therefore, the most ethical and business-savvy way to raise your prices is to add value so your customer gets MORE for their money… while you end up with more profit to grow your contractor business.

Check out the following ways to build value into your customer experience so you can sell at prices higher than your competition and still generate more leads for your contracting business.  

Product:  Close More Sales for Your Contracting Business

You’re likely selling a great product – most companies are. But have your reevaluated your product selection recently? Meet with suppliers and ask your sales team about the feedback they receive from customers. Now is a great time to make sure you’re offering a premium product.

And what’s more important – how are you presenting that product? Do you have the best sales materials so they’re presented in the best light to your prospective customers? Ensure that all of the features and benefits of your products are clearly communicated to your potential customers and that all of your salespeople are well-trained and well-versed on how to present them. After all, it doesn’t matter if you have the best product in the industry if your customers don’t know that.

How Your People Can Help You Close more sales for your Contractor Business

One of the greatest ways in which you can differentiate yourself from your competition is your people. Sure, your competition might be selling the same kind of roof/bathroom/kitchen materials as you, but they don’t have your friendly receptionist, your detail-oriented project manager, your expertly-trained installers, etc.

If you’re feeling a little inadequate in this department, it might be time to make some changes. Evaluate which of your team members are capable of elevating their level of service so you can charge higher prices. For those who aren’t there yet, they may simply need some additional training; others may need to be replaced with a new team member. In the end, your team can make or break a customer’s experience with your company, so you MUST make sure they’re highly trained and customer-focused.

Processes to Help Grow Your Contractor Business

The ultimate way to earn the right to charge higher prices is to build, implement and quality-check your processes. From answering the phones, to the sales process, to installation and following up after the job is complete – all of these actions should follow a very detailed, highly engineered process.

To get started, go through your business from start to finish as if you were the customer. Call in, observe and/or participate in a sales presentation, a job installation and post-job follow-up. You can also ask past customers for their feedback. Where are there holes in your customer experience? Make sure that you are “wowing” your customers every step of the way.

By increasing the value your customers receive, you will not only earn the right to increase your prices, you will earn customers for life™. For more insights on how to take your business to the next level, click here to request your free, no-obligation strategy session with our team today.