Knowledge

All signs are pointing to 2020 being as busy, if not BUSIER, for home improvement pros.

All signs are pointing to 2020 being as busy, if not BUSIER, for home improvement pros.

As you are wrapping your head around the whirlwind that was 2019 and preparing for 2020…how are you going to set your home improvement company up for success?

As you are wrapping your head around the whirlwind that was 2019 and preparing for 2020…how are you going to set your home improvement company up for success?

“Know your numbers”. This is a quote from Mark Richardson’s article for Pro Remodeler. I think these three words sum up the essence of what it means to be successful in the home improvement industry.

Let’s pretend for a second that you are searching for some new business software for your home improvement business. You’ve done your due diligence, sat through demos of multiple systems, and narrowed it down to a couple of promising choices. Now you compare these systems to find the winner.

Unless you are some sort of remodeling Johnny Appleseed, spreading vinyl siding and asphalt shingles throughout the land for free, you’re going to want money for your services.

Close rate; you know, the percentage of appointments you run that end up in sales. If you are like most home improvement companies, you use this percentage to get a quick view of how your sales people are doing in the field.

Unless you are some sort of remodeling Johnny Appleseed, spreading vinyl siding and asphalt shingles throughout the land for free, you’re going to want money for your services.

In our last post we talked about the Sunk Cost Fallacy and how we, as decision makers, sometimes have a propensity for using the wrong information to power our choices. We thought it would be prudent to offer some ideas on how to overcome these obstacles. Not just for your home improvement business, but for your everyday life as well.

How falling prey to the Sunk Cost Fallacy could be keeping you from growing.