14 May Missed Opportunities Cost Your Business Money
Every customer, every job, every person who calls you for an estimate represents real opportunity for your business—a chance to generate revenues. By the same token, though, missed opportunities represent real loss—money you should be making, but aren’t.
Among home service trades, these missed opportunities can come in several different forms. In this post, we’ll highlight just a few of them—failed connections that detract from your bottom line.
Missed Opportunities and Your Home Service Trade
A few of those common missed opportunities include:
- Lack of follow-up. You should be following up with previous customers at least once a quarter, if not more often—whether that’s via a phone call, an email blast, or a newsletter. Don’t let your past customers forget you! Keep your company name front and center, should they need additional projects at a later date.
- Not asking for referrals. There’s no reason not to ask each happy customer for at least one referral—whether that means providing them with your business card or even leaving a personal message on their invoice or receipt.
- Poor customer service. This one is huge: When someone calls you and can’t get through right away, do you call them back right away? If you wait until the next day to return a phone call, you’ve likely lost that lead to one of your competitors. Consider having a service where a live agent will answer your phones.
- Not keeping appointments. Show up when you say you will. Don’t be late or do anything to jeopardize those potential referrals!
- Obsolete website. If your website doesn’t have a clean, professional, and contemporary look, combined with up-to-date contact information, you’re definitely missing out on potential leads.
- No business cards. When you meet someone for the first time, hand them a card. It’s a simple way to spread the word about your business.
All of these points represent opportunities for you to get customers and jobs—and missing any one of them could result in lost profit.
Making your business profitable means being smart about the revenues you bring in, and always putting Profit First—but at an even more foundational level, it means taking advantage of all the big and small opportunities that come your way.
We’d love to talk with you more about the steps you can take to make your home service trade business a money-maker—including coaching you through Profit First! Reach out to Contractor in Charge today, and let’s talk about the opportunities you have to grow your business.