I want to share a success story with you. There is enough bad info in the news, this is a short story that shows good stuff still happens in construction with just a little effort focused in the right direction.
A young couple came to us for coaching in February, just two months ago. While their P & L was not all that bad (just over 4 percent net profit) they could and wanted to do better. The contract they were using was another matter. It was a disaster waiting to happen. In fact, they had problems with former customers and were in the middle of a dispute with an existing customer.
After 3 hours of coaching, this client signed four new jobs in the last week for something just over $160,000. Those jobs were signed using a solid contract, and our client now knows the whys and wherefores of everything in that contract. Which came in handy since one of those agreements was for remodeling on a commercial building.
The commercial building owner wanted all kinds of changes to the original contract including a retainage clause, penalty clauses, taking out some details pertaining to hazardous material inspections, etc. These are the usual issues that you often come across with commercial buildings. Our client met with the owner, got all that nonsense set aside, and his original contract was put back in place and signed. He was able to do this because he now understands what both sides need, how to assemble a win-win agreement, and how to communicate that to the owner.
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This client has focused himself on getting new sales in the door, and his sales last week came from increasing his advertising and doing a terrific job of schmoozing. He says “thank you” for referrals in a number of ways, letting contacts know that he appreciates their effort in passing his name along to others.
This couple is doing well because they were willing to make the adjustments needed to make their business succeed. The four jobs signed in the last week have paid for our coaching service many times over. And with his new contract, he will do the jobs and be assured of few problems and a reasonable profit to boot.
It is the little things that you do in your business that make a huge difference. We can help you identify those “little things” and the increase in sales and profitability will pay for our coaching in just a few calls. I’m available for one-on-one conversations here.
The knowledge and experience Michael Stone gained in his 60+ years in construction has helped thousands of contractors improve their businesses and their lives. He is the author of the books Markup & Profit Revisited, Profitable Sales, and Estimating Construction Profitably, and is available for one-on-one consultations.