Kitchen & Bath Business - April 2020 - 22

BETTER BUSINESS

Technology is moving at a breakneck speed. PPC, SEO, CRM. How can
you go beyond learning what these buzzwords mean and actually put new
technologies and information to use to grow your remodeling business?
Your prospects and customers know things you don't even know. Some owners
research until their eyeballs are practically popping out. Then they expect
you to make their dreams a reality even if they want products and systems
you haven't worked with before. On top of this, they have champagne tastes
with a beer budget.
Much as you're trying to stay up with technology, have the right people to
do the work and make your prospect's vision a reality, you feel you're falling
further behind. The question becomes how can you keep up with all these
changes, technologies and demands and still have control and see growth in
your business?
A first step is to make sure you're not falling victim to four common mistakes that hurt the progress of many remodelers. Let's dig into progressive
strategies to grow in the face of these challenges.
MISTAKE #1 - YOU THINK YOU CAN DO IT ALL YOURSELF

Just because you started your remodeling business on a shoestring budget
and relied on your installation skills to get things going, doesn't mean this is
the fast track for your future success. As a matter of fact, it's only a fast track
to frustration.
As you know, your 24/7 runs out fast. Your patience runs out. Your team
sees you killing yourself in the process. The better path starts with a plan
to work on the business not just in the business. It's to step back and think
through where your business should be headed - to get a rolling start with
these three steps.
Step 1: Analyze the types and sizes of projects you work on. See where you
are (and aren't) making money.
Step 2: Identify your unique value proposition. Where do you excel vs.
the competition and make good margins? What do you uniquely do that
makes you THE COMPANY to use on those jobs?
Step 3: Niche down your business; focus on what you do best. Focus on
projects (and products) that aren't completely dependent on your intense
involvement for success.

Change Is Good

MISTAKE #2 - YOU DON'T COMMUNICATE THE PLAN

Common mistakes limiting progress
in your remodeling business

ONE OF MY FAVORITE QUOTES is from Satchel
Paige,the first African American pitcher in the Major Leagues who played for my Cleveland Indians.
"It's not what you know, it's what you know that
just ain't so."
In a static world, what you know and what used
to work holds true. However, as you know, static
is not the word to describe your remodeling business.The following challenges show how different
your world is from 10 years ago:
The battle to find (and keep) talented people is intense. Whether it's in the field, estimating, the
office or sales/project management, finding and
keeping people has never been tougher.

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ABOVE Image by Vector

memory/Shutterstock

FACING PAGE Comic by Cartoon Resource/Shutterstock

MIKE FOTI is the
president and CEO of
Innovate Building Solutions, an Ohio-based remodeler and nationwide
wholesaler of bathroom
and kitchen wall panels,
shower bases and glass
enclosures.

An amazing plan is worthless if you're the only one who knows where your
business is going. Everyone who works for you wants to be part of something.
However, when your employees don't have a clue where things are headed,
they may simply 'opt-out' of working for you.They may go to your competitor down the street who they feel has a plan that allows them to be a part of
its growth.
However, don't worry about being the second coming of Martin Luther
King and having to do a fancy speech to communicate your plan. Get your
team together for coffee, bagels or pizza, and lay out the following:
Identify the types of jobs you'll focus on.
Talk about your plan to find and sell the work.
Discuss ideas to become more efficient.
Get your team's input. Adjust where needed. Ask where they can contribute.
MISTAKE #3 - YOU'VE GOT A BAD ATTITUDE ABOUT PEOPLE

You talk about the good 'ol days when people used to put their nose to the
grindstone. To grow a progressive remodeling business today, you need to
understand that people's relationships with work have changed.

/ APRIL 2020 / KBBONLINE.COM / The official publication of NKBA (NKBA.org) and KBIS (KBIS.com)

3/24/20 5:39 PM

http://www.KBBONLINE.COM http://www.NKBA.org http://www.KBIS.com

Kitchen & Bath Business - April 2020

Table of Contents for the Digital Edition of Kitchen & Bath Business - April 2020