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Not like the movies

Business should not be a "one and done"

Not currently, but we have all had enough experiences in which people were not spending money on new or existing homes. You likely saw businesses within the trade who are no longer there because they were not prepared for a challenging time (think 2008).

Too many businesses buy into the concept that marketing can be diminished in times like we are experiencing. When business begins to slow additional funds should be spent in an effort to attract customers or at a minimum, remind customers that your business is there.

This cycle seems to be a mainstay; not just within the roofing trade but with many businesses. We jokingly remind people that there were two movies that the subject matter was an incident that repeated; Groundhog Day with Bill Murray and Fifty First Dates with Adam Sandler. While the latter movie is reported to be based on a true story, both movies are comedies. They are not to be taken as examples for business plans.

Recently we built a new home; and, currently remodeling what has been the family home of the past sixty years. With each, we have experienced many sub-contractors, contractors, and supply houses. Unfortunately, the experience with each has been the same.

With the new home, I can tell you who the contractor was as well as the electrician and heating/cooling sub-contractors were. I have no idea who any of the other vendors were. However, there have been several occasions where we have found the need to contact the contractor to find these individuals to engage them for additional services.

Shortly after we moved into the new home, a friend was following our pattern and moving back to our hometown. “Who did you have to build your house? Anything you want to tell us about them or the sub-contractors?”

Apparently the contractor and sub-contractors are working on the premise that this is an industry that is “one and done” with customers, whether the customer is the end-user or the contractor. Au contraire!

With the remodeling, we have known for over two years that we were going to start this project. With that home we have had a service contract for over a decade. Every six months the company that installed the equipment has maintained a contract for which they come to the home to service the system. And for these past several years as the system has had a need for some form of repair, we have taken the option of the lesser repair as we explained the system would be replaced with the remodeling.

We are surprised that we have never been asked when we are doing the remodeling; never asked about their calling on us to ask to be a part of the remodeling. It looks like the next communication may be when we call to cancel the service contract.

While an advertising/marketing budget is frequently calculated as a percentage of gross revenue, the effort of marketing should show no fluctuation. All existing, previous and potential customers by way of our marketing or referral by others need to be the recipients of some form of attention on a continual basis.

This is not expensive like advertising on television. It is a wise, much smaller investment of making our business less subject to the violent waves of ups and down within the trade.

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This article is copyrighted by Tom Shay and Profits Plus Solutions, who can be reached at: PO Box 128, Dardanelle, AR. 72834. Phone 727-823-7205. It may be printed for an individual to read, but not duplicated or distributed without expressed written consent of the copyright owner.

 

 

 

MAY 2024
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Small Business

AdvisorieS

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.

Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.

BOOK US

With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.

Small Business

Advisories

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

 

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.


Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.