“Turning the Tide Towards Profit”

To Be the Focus at Nexstar’s® Owners’ Spotlight Series

Owners of plumbing, HVAC and electrical home service companies will gather at Nexstar’s Owner’s Spotlight Series, March 18-20 in Clearwater, Florida. “Turning the Tide Toward Profit” is the theme and consistently achieving results that count is the focus. Nexstar has reserved a number of VIP seats for prospective members at this event that is typically for members only. It is an opportunity to experience the rapid results of Nexstar.

It’s no secret that times are tough right now in the business world. But on the bright side, some economic reports are beginning to look a little more optimistic and talk of economic recovery is all over the news. Markets tend to be cyclical, and in this case, it is just a matter of time before we head into another era of economic prosperity. When we reach that time and you need to hire more employees to get the work done, will you be ready and will your employees be ready?

It bewilders me when I hear comments from certain people in our industry who say, “contractors can’t afford to operate showrooms.” Hogwash. I have always considered my showroom facility a tool that is necessary to get the job done profitably and professionally. When this tool is utilized properly, it is well worth the effort and investment, and enhances the professional image we all strive to convey.
I’ve had a showroom ever since 1962, when I was a young plumber doing new construction work. Specified materials tended not to be the best back then, so my showroom was used primarily to upgrade plumbing and heating in the new homes and other buildings for which we contracted. Our builders were open to the idea as long as they didn’t have to get involved. Homeowners were invited to the showroom to view what was specified for their new homes, and what they could get for a few dollars more. The additional profit that showroom generated was a nice plus for a young plumber doing battle in the highly competitive new housing market.

The following story is true. The names have been changed to protect the innocent. If you think this story is about you…you are probably right.

The Martyr and The Intimidator

Leslie is the owner of a roofing company, a business she inherited from her father. Back in the day, her father managed a small crew and operated with handshake-contracts and stacks of cash. Now that her dad has retired, ambitious Leslie sees a different future. She wants to grow her company so that she can make a fortune…and provide career opportunities for her beloved team. And she wants to build on her (and her father’s) reputation for taking great care of her customers.

Last month, I asked you to fill out some worksheets containing four hypothetical contracting jobs with different overhead factors and to identify the most desirable job of the bunch.

I know from my teaching experience that most PHC contractors are totally befuddled by these worksheet problems, and they aren’t inclined to take the time to participate in this exercise. As usual, it is the more diligent and knowledgeable contractors who find intellectual stimulation in business problems, just as they are the ones you find attending seminars, participating in industry affairs, etc.

From Comanche Marketing, here’s Matt Michel’s tips on ways to get the most out of any conference or trade show you attend.
1. Dress professionally, but in comfortable shoes and clothes – if your conference includes a trade show, you will be on your feet a lot. If you’re uncomfortable, you’re not focused on gathering information.
2. Engage others in conversation – people often remark that the most valuable information they get at trade shows comes from the hall talk. Why? Because it’s peer to peer conversation. It’s interaction with …

The National Association of the Remodeling Industry (NARI) is proud to announce the first NARI video contest, open to any customer who has worked with you as a NARI remodeler.

When your business phone is ringing and customers are requesting service, life is great! Oh, I remember those days. Where have they gone? Bring on the bitterly cold weather of winter, the sweltering heat of summer, the flash flood waters of spring—and bring it on quickly!