PowerTips Unscripted

There are five stages of company growth, according to Judith Miller, one of our consultants and facilitators. Transitioning from Stage 3 to Stage 4 is one of the more complex. It takes a substantial shift in the owner’s responsibilities and skill sets. It can result in a much higher job satisfaction level, financial return, and working much less.

In this episode, Jef Forward explains how he managed this tricky move to Victoria and Mark. It’s a process he planned and implemented over years, and it had challenges and surprises for everyone in the organization.

Jef is a co-owner with his wife, Monica, of Forward Design Build Remodel in Ann Arbor, MI. Jef has participated in Roundtables at Remodelers Advantage for many years, and is now a member of Mentor FOR. Over the last six years, they have had substantial growth in the business and increased customer satisfaction and net profits through a team approach.

Jef talks about how the process has worked for his company, and what it takes to get there. It demanded a great deal of self-reflection on his part, as he moved out of the role of doer to teacher and had to become a better leader. He talks about understanding your priorities and how they might shift, and getting buy-in from your team, including:

Regardless of the growth stage of your company, Jef’s got workable advice to make your business and life better and more rewarding.

If you want to brush up on Judith Miller’s stages of growth as discussed in the episode, here’s the article.

For more explanation of the DISC profile and what it can do for your business, listen to Episode 45: Using Tools to Find the Best Talent with Rick Bowers.

The post Ep.53: Growing a Company from Stage 3 to Stage 4 with Jef Forward appeared first on PowerTips Unscripted.

Most entrepreneurs want to build a bigger company, but understand that many of their existing processes don’t scale. You go back to the drawing board and make some changes. But the sad truth is that it’s not just systems, but people, who fall behind, dragging the business with them.

In this episode, Mark’s flying solo, and tackling a subject too many business owners try to avoid. The sad side effect of growth is that some of your best, longest-lasting employees simply can’t keep up with the new demands of a larger business.

The first thing to do is recognize it. If they’re still doing a great job, but lack enough time, hire more help. But if the tasks and duties themselves are overwhelming, you need an action plan. Mark talks about what to look for and how to handle it, including:

If you’ve run into this sticky situation, tell us about your experiences in the comments — what did you do?

The post Ep.52: Changing of the Guard: The Unfortunate Side Effect of Growth appeared first on PowerTips Unscripted.

We’re getting esoteric today — applying a sports concept to business. Not too long ago, Mark read an article and shared it with Victoria about fixing something that’s broken in basketball — the intentional fouls at the end of the game to stop the clock.

Nick Elam is a Mensa member and basketball superfan, who was frustrated by the stop-and-start slog the end of close games as the team behind tried to get ahead by stopping the clock in the final minutes.

In his Elam Ending, the game clock is turned off at the first whistle with four minutes or fewer remaining. The teams then play to a target score equal to the leading team’s score plus seven points. The first team to meet or exceed the target score wins. It effectively stops the need to intentionally foul.

So what does all this have to do with the remodeling business? Fair question.

You may need to change your rules, you may need to change your strategy. When the rules that make your business work start hindering it, what do you do?

Look at the frustration points and think creatively to figure out whether your rules need to change. Maybe your change order process works perfectly until the final weeks of the job, and then it all goes sideways. Think about changing the rules of the game for those changing circumstances.

Let us know what rules or processes you’ve changed or amended through creative thinking. Let us know in the comments. No harm, no foul. See more about the Elam Ending in Sports Illustrated, and here’s a link to The Basketball Tournament’s wiki and how it has implemented it.

Victoria, Mark, and Steve Wheeler, RA sales director, are on the speaker’s panel at KBIS.

Victoria’s sessions:

The Most Important Numbers You Must Know!

How Do You Compare? Performance Metrics of the High Performers

Steve Wheeler’s session:

Delegation — How to Get Your Employees to Think and Act Like an Owner!

Mark’s session:

Website Punchlist! Blue Tape Walkthroughs of Attendee Websites

If you’re going to attend, and want Mark to dissect your site, just send him an email!

We’re also having an informal meet-up on Wednesday, Feb. 20, at 5 pm. Meet us in the bar at the Hard Rock Hotel — we’d love to see you. Drop us a line about that or any other times you might like to chat: [email protected] or [email protected].

The post Ep.51: Deploying the Elam Ending in Your Business appeared first on PowerTips Unscripted.

For our 50th episode, we gathered a panel of industry experts and took questions from the audience at the Extreme Business Makeover in Baltimore at the the end of January 2019. It capped off an intense two days of learning, sharing, and networking among the remodelers attending and our Remodelers Advantage team.

In this episode, Victoria and Mark direct the lively discussions with our panel. We were joined by:

We talk profits and payroll, cash flow, the owner’s role in a growing business, margins, staying top-of-mind in your marketing, smart lead qualifying, planning and making decisions on your job sites, and the power of asking “why?”  

It’s an insightful and all-encompassing discussion of how to run your business to get bigger margins, more profits, and creating a real life/work balance. If you missed it, you need to listen to this episode.

The post Ep.50: LIVE from the Extreme Business Makeover in Baltimore appeared first on PowerTips Unscripted.

You’re not running a successful company unless you have a good work/life balance. But there’s only one way to sustainably grow your company without sacrificing your life, and that’s by having a strong leadership team.

Steve Barkhouse stops by to give Victoria and Mark a crash course in how and why you should have a leadership team — and who should be on it.

Steve is the president and co-owner of Amsted Design-Build in Ottawa, ON. Steve has a well-deserved reputation as a thoughtful, logical, and caring business owner. Steve founded the company in 1989, and it now produces  over $10 million annually. He’s a long-time member of our top-performing Roundtables group, and the recipient of the 2018 Remodelers Advantage Impact Award.

Steve and his co-owner decided to start a leadership team at their owners retreat about a year ago. They researched the different models, and picked the Entrepreneurial Operating System. Steve talks about why EOS was the right fit for Amsted, and also about the other systems they didn’t pick. He details their process, including:

Forming the leadership team was the best decision he ever made. “Outside of joining Remodelers Advantage, of course,” he says.

The post Ep.49: How, Who, and Why to Build a Leadership Team with Steve Barkhouse appeared first on PowerTips Unscripted.

One of our core principles is that remodeling companies should make a good net profit, after paying the owners an above-average salary. When the economy’s booming, you can get away with a lot and still hit those goals, sometimes by accident. But the goal is to get those healthy net profits consistently, year after year, even in a downturn.

In this episode, Mike Medford Sr. talks to Victoria and Mark about how to do just that. Before seeing the metrics of the Top Ten Roundtables members a few years ago, Mike says his financials were always in flux. But then he took those figures and made them hard targets.

Mike Medford Sr. has been a home remodeling contractor for over 40 years. In 2007, he partnered with his son, Mike Jr. to form what is now Medford Design Build, with offices in Colleyville and Arlington, TX. Mike Sr. is the president of Medford Design Build.

Mike challenged himself and his team to hit the new fixed targets. He refined their processes, and challenged his team to hit those targets. By the next quarterly meeting, the company’s profits were rising. He talks about how he and his team made it happen, including:

Mike also talks about getting back to the art of contracting and how important that is to your margins.

The post Ep.48: How to Hit Healthy Net Profits in any Economic Climate with Mike Medford Sr. appeared first on PowerTips Unscripted.

Reviews are the lifeblood of any remodeling company. But are you getting the best social proof of your company’s performance from your clients?

Social proof is simply getting credit for what you’re already doing, says Josh Kelly. But it can spur your company to massive growth when done right.

In this episode, Josh talks to Victoria and Mark about social proof, how to use it in your business, and how it can help you weather some big changes coming to the remodeling industry.

Josh is a principal of RevuKangaroo.com, a review collection and distribution company. Before starting RevuKangaroo, Josh used the power of social proof, reviews, and referrals to grow his residential services business, Parker & Sons Inc., Phoenix, AZ, from $6.5 million to over $100 million in just 13 years.

The best way to grow your business is to keep and make more money with the customers you have — and have them tell others about their great experiences. But big changes are coming — Amazon and Google continue to make inroads into the remodeling space. If you’re not prepared to play with them, and not against them, you could lose out. And one of the ways to work with them is to show your social proof. Josh breaks down the three components of social proof, and has great tips on:

If you’d like to learn more about RevuKangaroo or pick Josh’s brain, you can drop him an email at [email protected].

The Extreme Business Makeover Event is coming up in 2 weeks and seats are filling fast. Come learn from some of the most experienced, well-respected speakers, presenters and panelists in the North American remodeling industry. Click here for more information & registration.

The post Ep.47: How Social Proof Can Ignite Massive Growth with Josh Kelly appeared first on PowerTips Unscripted.

You know all about the labor shortage, you’re living with it every day. But there are tools that can help you find the right person for the right job — and help you keep them in your company.

Remodelers Advantage has been using a personality assessment tool called DISC for years, and we love it. Everyone on our team completes a DISC assessment, as do all of our Roundtables members— who also rely on them in their own businesses.

In this episode, Rick Bowers of TTI Success Insights, the maker of the DISC test, drops by to talk to Victoria and Mark about how and why to use personality assessment tools in your organization.

Rick’s the president of TTI Success Insights, and the keynote speaker at its show TTISCON. Rick has more than 30 years of experience with talent management tools and has trained people to use effective talent management techniques in more than 30 countries on six continents.

For those who don’t know, or could use a refresher, the DISC profile breaks down personality into four buckets, to see which are more pronounced in each individual:

There are unlimited combinations, because everyone’s an individual, but taken all together, a person’s DISC profile shows why people do what they do, and how best to communicate and motivate them, says Rick. He takes a deep dive into how the DISC and other tools can help managers and employees, including:

In the remodeling business, it’s especially important to hire the right person for the job, and the team — the wrong hire can mess up your company for years. These types of assessment tools can help you make better decisions, and aid you in understanding how to manage and communicate. How do you use your DISC assessments? Let us know in the comments below.

The post Ep.45: Using Tools to Find the Best Talent with Rick Bowers appeared first on PowerTips Unscripted.

Most remodelers start as the sole salesperson for their companies. Stepping out of that role is arguably one of the hardest things you can do — but you have to if you’re going to grow your company. Hiring, training, and managing a sales team is a challenge.

Normandy Design Build Remodeling has a sales staff of 22, and all have design or architecture backgrounds. This is more important to the company than having pure sales experience.

In this episode, Andy Wells talks to Victoria and Mark about hiring and training superstars at Normandy, where he’s the president and owner. Normandy has been in business for 40 years and does additions, kitchens, and whole-house remodeling throughout the Chicagoland area. Andy has been with Normandy for 21 years.

Expanding and growing your company takes sales, and more sales, says Andy. His newer salespeople are selling $600,000 per year; some with more experience are doing $2 million, topping out at around $4 million sold by one salesperson. Andy talks about hiring and training the Normandy way, with information you can use to build your own sales staff, including:

So much more, in fact, that we ran out of time. Since we didn’t even get to the management part, we’ll be bringing Andy back soon!

Tell us about your experiences with hiring and training a sales staff in the comments.

The post Ep.44: Building a Remodeling Sales Team with Andy Wells appeared first on PowerTips Unscripted.