10 Fundamental Needs to Start a Restoration Business.Oct 12, 2021
Sitting up late this weekend and writing out some foundational pieces to a larger program we been building. Wanted to share a few that we just don't feel anyone should have to wait for.
First, let's set the stage for the audience and the reason for the program. It's a blueprint of sorts.
The intended audience is geared for the restoration/ remediation contractor. But the principles certainly lend direction to any business.
This will act as a blueprint for the dozens of requests we get per month from clients and not clients alike.
We feel that having an easy to read and follow system would help the entrepreneurial business owner manage a small to medium firm and not get into the hampster wheel of being forever IN the business.
This is a shorter version
1. Start with a plan.
This may seem "obvious" but I can promise it's far too often overlooked or even generally overlooked.
What is your service? Will you be multi service? You need to understand the myth of multi-tasking and avoid the trap of being everything yo everyone.
2. Industry experience.
Do you have experience in business ownership? Management? Leadership?
If you are coming from the outside of the industry, I will almost certainly promise the direction or even some of the perceptions are mid-guided or even wrong.
Getting advice from others can be powerful and informational.
But it can also be devastatingly wrong and lead you down a path of time spent and money wasted.
Ask us how we know this?
3. Do you know how to make the phone ring?
Sales don't come first as many think.
Leads come first. Sales are further down the pipeline.
Did you work for someone and they had what seemed like constant leads?
Where were these coming from?
You may not have a really good answer to this. You may also understating COA. Cost of Acquisition. What it costs for each lead. This is critical to help you understand your pricing and scaling.
Bottom line, the phone will not "just ring"
4. Who is your competition?
How are you different? Don't say you are better. If that's realistically true, it doesn't matter until your audience knows who and what you are. Competition and their marketing will beat you all day long. Regardless of workmanship.
5. Do you understand money and business management using financials.
This lack of knowledge will keep you very small at best or bankrupt you all together.
6. Do you have any training programs built? Any SOP's?
If we jump ahead and assume that you do end up hiring a quality staff member, how will you train them? The worst thing to happen, especially now, in such a tough labor market, is you place the right person with dreams and energy....then the entire on-boarding falls flat.
7. Do you possess the super power of Talent Acquisition?
You will need to know how to hire the good winners and more importantly, how to avoid the wrong one(s).
This isn't something you learn in school or books.
8. How patient are you?
What are your growth and financial expectations? Get these wrong, you will set yourself up for a feeling of failure. Nothing kills mindset like self doubt.
9. Do you recognize that learning is eternal?
You will eventually end up hiring outside coaching, trainers, consultants.
You may have industry buddies....but they might be at an entirely different place in business as you. Much larger firms. Different business types, demographics, more sub work, less self perform.
Ego is the enemy and is trails closely to cash flow as the killer of most small business.
10. Can you delegate?
Do you possess the mindset that developing accountability and holding people to that are critical to your growth and profit. Staying in the truck is frustrating, limiting and will sap the dream you had away, making you feel like you have another job. Who wants that?
🌐 Now that you have;
🔹Made a plan,
🔹Obtained training and experience,
🔹Developed a leads process,
🔹Understood your market,
🔹Grasped basic financials,
🔹Develop some fundamental systems,
🔹Hired a coach/ found a mentor,
🔹Recognized the need to delegate?
You will now need the emotional intelligence and strength to use it all together. You need to be ready to fail, but not go backwards.
Be organized and write/ type everything down.
So when you stumble or stall, you start where you left off, not start over.
It's not easy. You know the figures on how many fail.
Remember that revenue is not the number. Profit is. Do not do work that isn't profitable. It's a false torpedo.
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