KickStart: Organize your trucks, your work set-up routine and your equipment to increase profits.
Kudos to you, Home Service professional. If you didn’t realize this before, during the COVID-19 pandemic you learned that you provide “essential services” to your clients! Who knew?😮
KickStart: “TIME is the only resource you can’t buy more of.” Sam Walton
“Make MORE profit by doing FEWER jobs? You’re an idiot, Steve!” You might think I’ve lost a few screws, but “Patience, Grasshopper”! Stick with me here…
Want to skyrocket your profits?👏🏼 Give your onsite employees a step-by-step Service System that will create an ecstatic “Cheerleader” (and 5-star reviews!) out of each residential client. (I call this “Service Engineering”.) Remember…
KickStart: Only offer additional home services (and products) that are VERY profitable.
NEWS FLASH! Some dollars are MUCH more profitable than others! That’s right, folks, not all revenue is created equal!
Some residential services are like a gold mine,💲 while others… are a frivolous, money-losing waste of time!😥
So, you ask, “How can I make more dough without baking more bread?” Steve’s secret sauce? Be picky about what services you offer. Focus on the Additional Service Options that give you the most bang for your buck. This means…
KickStart: “When you come to a fork in the road, take it!”😲 Yogi Berra, Baseball Hall of Fame catcher/manager and pithy folk philosopher.
Good for Yogi! He was a man of action! But Yogi overlooked a very important part of any “fork in the road”.
Recognizing that a decision “masquerading as a small choice” now can have HUGE consequences later in life!😲
KickStart: Are your business profits being silently siphoned off by unnoticed problems? Read on…
OK, I’ll admit it. I used to be a chest-pounding Home Services Business (HSB) owner that bragged about how many trucks, employees and/or customers I had. (I especially loved sharing that my company had grown into a powerhouse that grossed seven figures yearly!)
But then, I wised up. (Or maybe just got older!) I realized it is smarter to fix the ‘Profit-sucking Black Holes’ (PBH’s) that all residential services companies struggle with. I call the obvious PBH’s the ‘Tragic Big 3’😥:
KickStart: Benefit from our current run-away inflation rates to justify your new (large) price increases.
In ‘normal times’ (is there such a thing any more?) I’m a huge proponent of small (3% to 4%) yearly price increases. Here’s why:
1) A small yearly increase will ‘fly under the radar’ of your clients. (Most customers can’t remember what they paid last time.)
KickStart: STOP🛑 losing money BEFORE you focus on increasing gross sales. Read on…
Profit: “The revenue remaining after all costs are paid. These costs may include labor, materials, interest on debt, and taxes.”
Ah yes, that wonderful and too-often elusive word, “profit”. And yes, as a Home Service Business owner you need (and deserve) LOTS of profit.💲💲💲 (Which should be calculated AFTER paying yourself a fair wage for your labors.)
KickStart: BEFORE you diversify into a new service STOP🛑 and ponder on Steve’s ‘8 Introspective Questions’!
di·ver·si·fy: “enlarge or vary the range of services or products of a business.”
Hmmmm… does diversifying sound good? Maybe. As with so many undecided business questions, “It all depends.” Above all else one not-so-simple question…