Posted by Mark Paskell on Wed, Nov 19, 2008 @ 10:26 PM
Many small business owners become trapped thinking that they have to do everything themselves. At times they think that because no one can do it as well as them that it is more effective to do it themselves. If you are a small business owner and don't want to grow this may work ok. However, if you want to grow, the odds are stacked against you if you are a CEO owner wearing most of the hats. We are seeing many contractors who say they want to grow, stubbornly resisting giving up control of tasks that can and should be done by someone other than the CEO. Contractors are not the only profession exhibiting this behavior. It is prevalent in many different types of businesses. In contracting, it is not uncommon to see the CEO running the company, handling the sales, running production, driving nails, making collection calls, and anything else they think that only they can do. This feeling of invincibility that they can do it all is not without grave dangers to the health of the business and the owner. It contributes to poor health, burnout, marital issues, questionable judgment, employee issues, money problems and sometimes heart attacks.
For example the average work week for a CEO is 50-60 hours and for a professional salesperson 55 hours per week. How is it possible for one person to do both effectively? Not to mention the other items the CEO owner handles.
The road to success for contracting companies is clearly available to any who seek it through modeling other successful companies in their industry, research, education and training. The only thing the CEO owner contractor needs to do is decide to run their business in line with established contractor best practices and proven paths already blazed by successful contractors.
If you are a CEO owner of a contracting company wearing too many hats, do you think you are invincible like superman?
Are you too stubborn to let some of the work go?
Do you need the feeling of saving the day and telling yourself no one can do it as well as me?
Do you think it is possible to keep up the pace and be profitable and healthy?
If your answer is yes, I wish you the best.
If no, maybe you are ready to work with a professional residential contractor coach who can show you how to shed the hats you are over qualified to wear!
Does this sound like anybody you know?
Posted by Mark Paskell on Sat, Nov 15, 2008 @ 12:55 PM
Recently someone said to me I was crazy to spend so much time networking. So it got me thinking was he right? Well some may think I'm crazy (and he may be right) so I reviewed my results from the past two years and here is what I found.
Working as a design/build and replacement sales expert for a large Worcester based company, Francis Harvey and Sons, my results for late 2006-late 2007.
Two referral groups; Corridor Nine and BNI Shrewsbury Golden Triangle.
$1,030,000 in remodeling sales.
Type of work; 1 house, 3 kitchens, 2 Bathrooms, 1 house remodel and various small jobs.
400 Hours worked between the two groups. (This includes meetings, one on ones and networking events.)
$2575.00 in business for every hour worked networking.
Commission Income; a lot
Fees and expenses for Networking groups and related activities; $1300.00
February, 2008; Left the Worcester company and started my own Coaching Business; The Contractor Coaching Partnership teaching contractors how to run a successful contracting business using best practices and systems.
Networking Groups; Corridor Nine Referral Group and Eastern Mass NARI (National Association of Remodeling Industry).
I have received 16 of my clients from referrals.
8 Remodeling Contractors
2 Landscaping Companies
2 Painting Contractors
1 Electrical Contractor
1 Excavation Contractor
2 professional trades
Fees and expenses for Networking related activities; $2300.00
All revenue for The Contractor Coaching Partnership has come from networking related referrals.
So you be the judge and ask yourself if my efforts networking were worth it?
One nice thing is when I worked at Francis Harvey, I had no competition on any of these jobs. I was referred, trusted and earned the business.
When I started the Contractor Coaching Partnership most people said it was a bad time to start a new business. But I wasn't concerned because I had faith in my definite purpose and knew that the work I put into networking would come to my aid. As a result I am fortunate to have a thriving Coaching business and I am grateful to my networking associates for referring me.
If you or networkers you know want to benefit from Networking Coaching That Gets Results then call or contact me today and I will teach you how to obtain outstanding results for your business.
So please tell me (by responding to this post) if you think I am crazy to network or not, you be the judge.
Mark
Posted by Mark Paskell on Thu, Nov 13, 2008 @ 04:25 PM
Early this year I met with a contractor who was complaining about his lack of success in his business. He attended a seminar I held with another coach and this contractor said he wanted to take his business to the next level. We met separately after the seminar to review his compelling reasons for moving forward and he agreed it was time to work on his business. He said he was sick and tired of losing out to other companies and being used as an unpaid consultant. He is the typical contractor wearing all the hats with little time for himself or his family.
He said he would start his coaching in the spring and would invest in coaching and learning best practices to properly align his business with other successful contracting companies. Spring came and he put it off and said he was too busy and didn't want to invest the money in learning how to develop systems which he agreed he needed and wanted.
Last week I met with the other coach and he was there complaining again that he had a lousy year and didn't make enough money to cover the bills. He said he was busy but didn't charge enough and got overwhelmed.
The other coach said to him well do you think its time to work with a coach to straighten out your business?
He said well I am still considering my options. I know I should but I am like a sponge. I am soaking up all the information and still have enough absorbing capacity in my sponge. You coaches are right and I know I should start educating and training myself. I didn't make enough money this year but next year will be different.
Then our contractor friend left and us coaches looked at each other and said he's a great talent and does great work. He could have a very successful company if he only learned some basic business skills and systems.
And the other coach said; " I hope he doesn't run out of absortion room in his sponge before he goes out of business and gets stuck with paying for all his equipment he just bought." and the coach added " you can the lead the horse to water but you can't make him drink"
Does this sound like you or a contractor you know?
Do you think this guy should hire a coach, work for someone else or find a different career?
Why is it that contractors who know and admit they should work on their business don't?
Let us know what you think.
Mark
Posted by Mark Paskell on Tue, Nov 11, 2008 @ 11:43 PM
The holidays are fast approaching and before you know it we'll be talking about our New Year resolutions and hoping for a better year in 2009. The time to start acting and planning for next year is now.
Have you accomplished the goals you set for yourself in early 2008? If you did great, if you didn't what is going to be different in 2009? Many people fail to take the time to write down their goals and make a plan for their year. This is one of the biggest differences between those who succeed and those who fail. If you think you can succeed without having clear goals and a plan then you will continue to experience the same results again.
I challenge you to decide to take the first step and decide to act now. Start by deciding on what your goals for next year will be and write them down. Then spend a day writing a simple plan of how you are going to get the results you want, and most importantly deserve. Doing nothing will give you the same results you have been living.
Many who know me, are familiar with my recommendation to read "Think and Grow Rich" by Napoleon Hill. Go out and buy it now and read and apply the tools. The plain and simple truth is, it works and gets results that will change your life, if you have the courage to do it. Experts claim this book has transfomed the lives of thousands and is responsible for creating numerous millionaires.
Other excellent works to use to align yourself to think right are Earl Nightingale's "The World' Strangest Secret" and the CD The Secret. If none of these interest you the book store has many excellent works to consider. The bottom line is your thinking and attitude will determine your success and happiness or lack thereof. No one is going to do it for you. Will you do it for yourself or will 2009 look just like 2008?
The choice is yours, don't let yourself down! Have a great successful and prosperous 2009.
I am currently mentoring several contractors and we are beginning our planning for 2009 now. If you are a contractor or someone who would like to explore the benefits of having a coach guide you and hold you accountable, you are only one phone call away from your coach!
Are you currently working on your goals and business plan for next year?
Posted by Mark Paskell on Sat, Nov 08, 2008 @ 09:49 PM
With the holidays fast approaching there will be many opportunities to build new relationships. There are usually many networking events around the holidays at chambers and networking mixers. Are you ready to share your 30 second commercial with new people you meet at a networking event?
Sit down and figure out what you can say to strangers that would let them know what you do and how they may refer you. Write your new commercial down and practice it in the mirror until you can say it automatically. Your statement should be brief and not salesy. If you wing it you will be less effective. Remember practice, practice, practice.
When you meet someone first smile, shake, eye contact, and don't drool at the pretty girl walking by while your talking to a new contact. And most of all practice active listening techniques. Ask them to share what they are looking for first and then ask them for a card if you want to know them. Don't offer your card unless asked. Also remember this is an opportunity to meet new contacts not to sell or drink in excess.
Before you go to an event, think about what your are trying to accomplish before you go. For example make a goal to speak with 10 new contacts. If you are hesitant to mingle bring someone with you. Ask fellow networkers who may be going to the event and maybe there will be someone there you know.
And most of all have fun.
mark the coach
Posted by Mark Paskell on Wed, Oct 15, 2008 @ 09:07 PM
As 2008 comes to a close are you working on your business plan for 2009? Have you assessed the results of 2008?
With the recent downturn in economic activity and the pending election, many contractors are experiencing less work than previous years at this time. Many have never witnessed such a dramatic drop off in business so early in the fall. While the economy works itself out this is the perfect time to develop your strategy and business plan for the coming year.
Many contractors are realizing that their lack of planning and training has left them in a precarious position this fall. Now it is more important than ever to know how to sell your services. Across the board, leads have dried up and backlogs of work are not sufficient to carry companies through the end of the year. Droves of workers are being laid off or let go. Hopefully, this will not mean the end of the road for many contractors, only time will tell.
Meanwhile why not spend this time working on your business? Seek out and invest in best practice education and training to prevent this from happening to you again. Some major reasons for failures in our industry are lack of planning, inadequate marketing and lead generation, not aggressively selling, poor cash flow, lack of or inadequate systems, lack of industry specific and business training and owners wearing too many hats.
The industry is rapidly changing. Homeowners are more knowledgeable, savvy, demanding and discerning on who they will hire to work on their home. The Next Level Consumer is expecting service from The Next Level Contractor. If you are not like the contractor they expect, you will have a difficult time getting work. If you are not like the Next Level Contractor, even if they hire you, they will not pay you the amount necessary to run a legal profitable contracting business.
Most contractors have learned that the best customers are homeowners who are professionally educated. These customers tend to provide professional services in their jobs that are supported by processes and systems. These consumers are expecting the same quality of service from their contractors who work on the home. The Next Level Contractor knows this and has adopted the use of best practices and systems to deliver his service. This way the Next Level Contractor can command the price needed to support a professional contracting company.
The Next Level Contractor is an expert in his field. He will use best practices and systems to deliver an outstanding contracting experience. He is now planning for 2009 to make sure that when the economy turns around he will be ready for The Next Level Consumer. He is working marketing plans, website development, sales training and processes, lead carpenter and employee training, home show planning and more.
The Contractor Coaching Partnership teaches contractors how to align themselves so that they can win the business of this consumer.
Are you ready to start your planning for 2009?
Mark
Posted by Mark Paskell on Tue, Oct 14, 2008 @ 11:11 PM
Here we go again. Another recognition for the boys from GoodFellas. The Eastern Mass NARI chapter has featured Joe and Dale and their company the GoodFellas, as the member spotlight company in the October newsletter.
GoodFellas continues to educate and train best practices to their employees insuring that they continue to provide outstanding services to the residential home improvement market.
Great job Joe and Dale.
Mark
The Contractor Coaching Partnership
MEMBER SPOTLIGHT
GOODFELLAS CONSTRUCTION MGMT LLC
Several years ago, Dale Shadbegian and Joseph Kupstas shared a "simple" goal -
to deliver a better building and remodeling experience. After meeting another EM
NARI member, they knew that joining NARI was a critical and pivotal step toward
reaching that goal.
"GoodFellas' commitment to education and skill advancement is a great concern
of ours", says Kupstas. "We were also amazed at how professionals in the same
industry can come together and share ideas. After meeting several NARI members,
and attending a membership meeting, we knew we had to get involved."
"We have received a warm welcome from the membership, and are excited to share our ideas with others as
well. The energy of the membership is really directed toward the betterment of the Remodeling Industry, and
not towards the betterment of oneself."
GoodFellas Construction is a full-service custom design/build remodeling firm. The firm has been honored with
several awards including the most recent Qualified Remodeler's "Top 500 Remodelers 2008". Shortly after
joining NARI, Joseph Kupstas achieved his "Certified Remodeler" status as well as several GoodFellas Lead
Carpenters were also certified through NARI's "Certified Lead Carpenter" program this past Spring.
Posted by Mark Paskell on Tue, Sep 30, 2008 @ 08:33 PM
I went to the Shriners Home Show in Wilmington this past weekend and saw a well attended trade show. I was suprised to hear so many people were asking about large remodel jobs like kitchens, in law suites, baths, and finished basements. In light of the current conditions, one would think that nothing is happening. However, if you were at the trade show and invested in a booth it was obvious that there is interest in remodeling.
I commend the companies who are investing in marketing their firms and doing what is necessary to keep things going. I here many complaining that nothing is happening in the remodeling industry. Bitching and moaning is not going to make the phone ring or bring work in the door. True it is tougher however keeping a negative attitude will only attract more negatives. I was glad to see many trade show exhibitors holding a positive attitude. One trade show exhibitor said he decided to do the show because other means of advertising were not sufficient to generate the leads needed. Another said if they (homeowners) won't come to you then you have to go to them. Yet another said we have to go back to the basics and adapt to a changing marketplace. Trade shows are a great place to meet my future customers.
Another exhibitor explained his view on doing home shows as follows; "if you want to get the fish to feed the family then you need to fish where the fish are!"
And this brilliant insight came from a contractor. Who said contractors weren't smart?
Mark
Posted by Mark Paskell on Tue, Sep 30, 2008 @ 08:08 PM
This is the time of year to prepare for the winter. Many times contractors wait until December and tell themselves that they need inside work for their company. If you wait until then it is too late.
Now is the time to increase your marketing and start looking for opportunities to book work for the cold months. One way to do this is to call all of your customers and let them know that you are now booking orders for projects to start after the holidays. For booking now, offer a small incentive. Also you can send all of your customers a hand written letter or post card promoting winter work. Advertise that you can do smaller projects like crown moldings in the living room, replace interior doors, install closet organizers, install new wainscoting, paint interior walls and ceilings.
Tell your customers that you can schedule work on the "the honey to do list" that their spouse has been promising to get to for months.
Ask your customers to refer you and you will give them a 50.00 gift certificate to Home Depot for a successful referral or they can use it toward work on their home.
Also don't forget to order your holiday cards to be sent out before Thanksgiving.
NEWSLETTER and Top of Mind Awareness (toma):
Marketing experts recommend that we stay in touch with our customers at a minimum of 4 times per year. This concept is called TOMA (top of mind awareness). Write a newsletter with helpful information on a how a homeowner can prepare for the winter and what they can do to winterize their home.
For other ideas and advice on what you can do to book work for the cold months feel free to contact The Contractor Coaching Partnership.
What are you doing to book work for the winter?
Mark
Posted by Mark Paskell on Tue, Sep 23, 2008 @ 08:34 PM
On 10/1/08 The Contractor Coaching Partnership is hosting a round table with Joe Holm of Sandler Sales at the monthly NARI contractor meeting in Natick.
Anyone interested in attending please let me know or contact Ann Dube of NARI at 508-907-6249. This event will be well attended so book by Friday to ensure a seat.
Mark
EM NARI October Dinner Meeting
Wednesday, October 1, 2008
Crowne Plaza, Natick, MA
Round Tables with the Professionals
Pre-Registration $50; Onsite $60
Contact Ann Dube' at ann@emnari.org OR
508-907-6249 to register
Pre-registration is highly recommended!
Networking begins at 5:30 pm Dinner at 6:30 and Presentations at 7:30 pm
Come Hear What Our Professionals Have To Say On These Topics:
- Glenn Travis, GMT Home Designs: Design/Build
- Shawn McCadden: Product Management
- David Morgan, D.R.M. Design/Build, Inc.: Estimating: Cost Plus vs Fixed
- Mike Sams, Kenney & Sams PC: Mechanic's Lien Law Issues and Risk Payment
Management
- Bill Avril, Commonwealth Financial Group: HR: How To Keep Good People
- Kevin Lister, Paradigm Strategies: The 12 Secrets to Successful Marketing
- Sheri Ryan, Paychoice: Payroll Services
- Pat Peterson, Construction Accounting Services: Quickbooks Overview; Job Costing
- Danielle Quaranto, Healthy Home, Inc.: Green-Icynene
- Christine Zuendt, Mason and Mason Insurance: Who Pays 2nd time around, General Liability
& Workers Comp
- Andy Kofman, CPA, Esq.: Tax Saving Strategies and tips before Year-end
- Ellen Dorian, Dorian Coaching Group: Simple Strategic Planning: A 7-Step Approach to
Accelerate your Profitability
- Joe Holm, Sandler Training and Mark Paskell, The Contractor Coaching Partnership: How to
quickly bond with your prospects and lock out the competition
- Ultan Feighery, The Human Resources Organization: Employment Laws: Roadmap to Success