This is your business

Home Remodeling: The most complex small business to own and operate?

I’ve been thinking about this over the last couple months.

Is a home remodeling business the most complex small business to own and operate?

  • Ever changing rules, regulations, and inspectors to deal with
  • Ongoing training and certifications to keep on top of
  • Keeping employees productive, trained, and happy. Always planning on who you need to hire/let go of next
  • Managing the relationships with your group of sub-contractors
  • Effectively marketing your business to generate a flow of quality leads
  • Having an effective and streamlined design and estimating process
  • Managing your sales pipeline and follow-up
  • Continuing to improve and work on a strong sales process from start to finish
  • The pressure of signing work and selling it at a solid markup while competing against a host of competition
  • Running job cost reports and then evaluating performance, and making adjustments
  • Understanding and consistently reviewing your Profit & Loss Statement
  • Managing risk – having the proper insurance
  • Managing cash flow, accounts payable and receivable
  • Being a leader. Setting the vision for the business. Setting annual goals and managing your overall business plan
  • The need to keep an eye on new products and ways of doing things more effectively
  • The need to buy tools/equipment and the tug of war on what to invest and not invest in
  • The hard work it takes to deliver a high-quality finished project on-time and on-budget
  • Oh, and you’re also in people’s homes – tearing them apart and putting them back together. It takes time, patience, and effort to manage the relationship and expectations of your clients

You’re running a very complex business.

More complex than your buddy who is a financial advisor, insurance agent, realtor, car salesman, lawyer, dentist, chiropractor, engineer? Yes. I think so.

Here’s the key to taming this beast:

You can’t effectively do it all on your own. You need to surround yourself with a team of people who can help.

Perhaps I (Kyle) can be part of your team to provide guidance, insight, accountability, and systems.

Please contact me if you’d like to get to know each other a bit more and discuss how I can help you.

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P.S. If you haven’t read my recent article in Remodeling Magazine you can read it here: To Make a Marketing Difference, Focus Less on What to Do and More on Doing It

The article was just posted on Remodeling Magazine’s website. I’d appreciate it if you could leave a comment on there with ONE item from the table that you are going to take action on and implement.