05 Nov 5 Steps Toward a More Successful Home Service Company
We’re getting closer and closer to the holiday season and the start of a new year—and with it, a flurry of “resolutions.” If you run a plumbing, electrical, or HVAC company, though, you don’t have to wait until the new year in order to adopt some healthy habits. In this post, we’ll list five steps you can take today to position your business for greater success.
Set Specific Goals
Simply put, you can’t succeed unless you first define what success means. So what would it take for you to feel like your company was on the right track? That you were accomplishing what you set out to accomplish? Set specific and measurable goals, both for the near term and the long-term. Six-month, one-year, three-year, and even 10-year goals can be helpful.
Get Better at Delegating
Statistics show that many small business owners burn out early—and home services entrepreneurs are no exception. One of the leading factors in burnout is the way in which business owners take on too much, feeling like they have to do everything themselves. The reality is, you hired people, presumably for a reason—so give them some opportunities to step up and take on new responsibilities.
Develop Your Support Network
Being a small business owner can be lonely. Airing your frustrations to your spouse can help, but you don’t want to spend your entire home life grumbling about work. That’s why it’s important to have other business owners you can talk with. Go to local business networking events and try to forge connections; additionally, consider the value in hiring a business coach.
Find Your Niche
One of the critical factors in business success is knowing what makes you unique. Maybe your customers find your company to have the best customer service in town. Maybe you have the most competitive prices. Or maybe you’re especially gifted in a specific area, like drain cleaning or water heater installation. Whatever your unique value proposition is, hone in on it; make it central to your marketing efforts and your branding.
Look for Ways to Reduce Overhead
One more thing you can do is be alert to overhead creep. Look for areas where your monthly costs have gone up, or for supplies you can get elsewhere at a discounted rate. Overhead creep happens to most businesses sooner or later, and the best safeguard you have is vigilance.
These are just a few of the ways in which you can position your company for ongoing success—but of course, this list just scratches the surface. We’d love to look under the hood of your business and show you some additional ways you can improve processes and increase profits. Learn more by reaching out to Contractor in Charge today.