Itemization Woes
We’d like to share an email received from an anonymous homeowner. If you believe that it’s smart to provide an itemized invoice, this will make you reconsider.
Sharing Company Goals
It’s the time of year when you should be planning for the coming year. Once you set your plans for the year, how much of those plans should you share with your employees?
Your Sales Presentation
Given how valuable leads are, once you get one, you need a sales procedure to help make the sale.
Hire Slowly, Fire Quickly
Issues that eat into profitability: It’s easy to hire someone who looks good on paper. If the resume is terrific and their references are glowing, they get hired.
Pricing Too Low
It is a fact of life that when you sell construction-related services, you’ll have clients tell you that your price is too high. Bless their hearts. They have no idea what would be a fair price for the work they want done, they just know that your price is too high.
Low-Value Jobs
I read many articles on the construction industry looking for, among other things, information on how the construction industry is doing and what we can expect in the immediate and near future. One statistic that always interests me is the size of the average remodeling job.
It’s Time to Stop Being Superman
In every business, some things we do eat into our profitability. Do you run your business or does your business run you?
Markup on Subs
A lot of contractors don’t believe they need to use their full markup on subcontractor quotes. Let me explain why that can be a mistake.
Proprietary Business Information
An architect he knew asked him to meet with the owners of a proposed new home. As they were discussing the project, the architect asked our friend, in front of the clients, “What’s your overhead and profit percentage?”
Bookkeeping, Markup, Taxes, Advertising
This week I want to catch up on a few things that have been bothering me.
What’s a Reasonable Advertising Budget?
How much should you spend on advertising? How much is too much?
Owners Supplying Their Own Materials
Should you let a client furnish their own materials?
The Salesperson’s Real Job
When I think about major influences on my sales training, I think of Tom Hopkins. He was an outstanding salesman who become a gifted sales trainer, and I still receive and read his newsletters.
Dishonest Clients; Collecting the Final Payment
How do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.
Referral Fees and Sales Commissions
A referral fee is what you pay to the person who provides you a lead. A sales commission is what you pay a salesperson to close a sale.
Wasting Time: Red Flags on a Sales Call
A potential client wanted to get a bid on some work at her home. Our coaching client was pretty sure the lead was dead, and wanted to know if she should have done anything differently to have made the sale.