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Ep.72: [Unscripted Back-Up] Building a Successful, Profitable Remodeling Company with Brandon Bailey

It’s time for another Unscripted Back-Up. It’s a chance to revisit some of our best and most informative episodes. They’re jam-packed with information you can use — so if you missed it the first time around, here’s your chance to catch up.

Growing your remodeling company is filled with pitfalls and challenges that can prevent you from getting to the next level successfully. So many of our Roundtables members say it takes hard work, yes, but also a concentrated focus and a willingness to look for help from outside your organization when you need it.

In this episode, Victoria and Mark talk to Brandon Bailey, who’s a textbook example of a successful remodeler who made the right moves after deciding to significantly grow his business. 

Brandon is an owner of Bailey Remodeling & Construction, a design build company in Louisville, KY. After starting his business in 2005, Brandon was where many of our members were when they were starting out — producing good, reputable work but spinning their wheels with long hours, no systems in place, and no predictable revenue model. Sound familiar?

In 2009, Brandon and his business partner, Jon Steimel, set out to significantly change and grow their business. They’ve done a fantastic job, their awards include being named the 2017 Remodeler of the Year by the Building Industry Association in Louisville.They won two project awards from BIA in 2019. They are now have 10 team members and are looking for more.

Brandon talks about how the company has managed its growth, things to look out for, and what it has meant for the business and his life, including:

  • The specific challenges when growing
  • Finding outside resources to help his business
  • What it was like working with a business coach and peer group
  • Which KPIs to keep an eye on
  • Growing his team beyond the two partners
  • Building a sales system
  • Establishing a consistent and predictable revenue model
  • Increasing net profit
  • What his business and day-to-day life is like now
  • And more …

Brandon’s story will sound familiar to so many remodelers, and the steps he has taken to build a more successful, profitable remodeling company can be guide your own journey.

Join Remodeling’s Top One Percent

Brandon is a fantastic example of a business owner who took advantage of the Power of Roundtables. Our program is a world-class peer advisory service that brings together smart, motivated remodeling professionals, just like you, to help one another grow.

Want to learn how you can participate in this experienced braintrust? Learn More Here >>

Ep.71: Strategy Isn’t Enough with Brian Gottlieb

A successful remodeling business isn’t only dependent on tactics or the larger strategy behind them. A company’s culture plays a crucial role in executing any business strategy. 

In this episode, Brian Gottlieb discusses the key steps needed for a business to implement their desired strategy with Victoria and Mark.

Brian Gottlieb is the founder and CEO of Tundraland Home Improvements, which serves all of Wisconsin. He started his business on a plastic folding table, with just $3,000 in cash. Today, Tundraland employs more than 220 people, and revenues  are in excess of $42 million. We’re excited that Brian will also be a speaker at the Remodelers Summit in Orlando this September.

He defines strategy as an integrated set of choices an organization makes to position against the competition, add value to their customers, and add value to the company. Brian’s “a-ha” moment came last summer, when he understood that when a community is at its full potential, we’re all in a better place; and when an organization is at its full potential, we’re all in a better place. He calls Tundraland a training organization — developing an employee to his or her full potential is a key point of the company’s  strategy. Brian describes the four ways to define your culture, and how to make it stronger, including:

  • How building a strong culture is like building a ship
  • How realizing potential depends on others
  • Why Brian doesn’t have drawers in his office
  • Examples of the wrong strategies
  • Knowing how to add value for you customers
  • Why you shouldn’t hire people like you
  • Finding the root causes of your weaknesses
  • Why throwing dollars at a problem doesn’t work
  • The differences between vision and a road map
  • Why firing someone should never be a surprise
  • And more …

Including how Brian sees his role in his organization, what he does, and what it means to the culture of his organization.

See Brian Speak at the Annual Remodeler’s Summit

We’re thrilled that Brian will be joining us for two sessions at the 2019 Remodeler’s Summit, Sept. 24-25, in Orlando:

To learn more the Summit event and our line-up of other great speakers, go to Remodelerssummit.com!

2019 Remodelers Summit

Ep.67: Kicking Off Slippage Awareness Month with Tim Faller

Here at Remodelers Advantage we set aside the month of June to focus on an issue that plagues most service-based businesses, but can be a critical metric in looking at the success of a remodeling firm. This is our third annyal “Slippage Awareness Month” and this year you’ll see content submissions from our consulting, sales, and production experts here at R/A. Enjoy!

Every remodeling business owner wants to add more money to the bottom line. Reducing slippage is the lowest-hanging fruit to pick in your quest.

In this episode, Tim Faller talks to Victoria and Mark about reducing slippage in your remodeling company. Slippage occurs when your estimate is lower than the real costs of the job. Reducing it takes a change in mindset throughout the organization.

For 17 years, Tim has worked with hundreds of remodeling companies to improve profits by creating smooth, efficient production systems. As a Senior Consultant and Master of Production for Remodelers Advantage, Tim’s field and business ownership experience is vital to his additional role as facilitator for Owner and Production Manager Roundtables Groups. He’s also  a published author and popular industry speaker, Tim is co-host of The Tim Faller Show, a weekly podcast focused on “Improving The Bottom Line Through Production Training.”

The biggest challenge in reducing slippage is getting your whole team involved in the effort. Tim says slippage is too often brushed off with “It is what it is.”  That’s where the change in mindset comes in — the attitude should be “It is what we make it.” Slippage is controllable, but it takes a company-wide awareness and work to corral it through realistic and accurate estimating,  job scheduling, and building in time to de-bug a job before it starts. He talks about the ways to reduce slippage in your processes, including:

  • Finding the slippage
  • The perfect planning process
  • Building in time, and how much
  • Developing a critical eye, not a critical attitude
  • Why realistic estimating geared to your team is key
  • Why you need long-term, short-range, and daily planning
  • Killing schedule creep for better net profit
  • Building extra time into the schedule
  • Figuring out days-per-job overhead
  • Controlling the client
  • Doing change orders properly
  • And more …

Cutting slippage is possible — and will make a big difference in the health of your business.

 

Ep.50: LIVE from the Extreme Business Makeover in Baltimore

For our 50th episode, we gathered a panel of industry experts and took questions from the audience at the Extreme Business Makeover in Baltimore at the the end of January 2019. It capped off an intense two days of learning, sharing, and networking among the remodelers attending and our Remodelers Advantage team.

In this episode, Victoria and Mark direct the lively discussions with our panel. We were joined by:

We talk profits and payroll, cash flow, the owner’s role in a growing business, margins, staying top-of-mind in your marketing, smart lead qualifying, planning and making decisions on your job sites, and the power of asking “why?”  

It’s an insightful and all-encompassing discussion of how to run your business to get bigger margins, more profits, and creating a real life/work balance. If you missed it, you need to listen to this episode.

 

Ep.42: How and When To Hire a General Manager with Aaron Enfinger

As companies experience growth, there are tipping points where changes need to be made. One of those points is when you realize you need additional management for the organization. Many remodelers are considering adding a General Manager, but are unsure how it will work in practice.

The Cleary Company of Columbus, OH, reached this tipping point in the Development Department in the Fall of 2016. The company was changing rapidly, adding staff, and stressing the existing systems in place. Things were getting bogged down. Owner George Cleary promoted Aaron Enfinger from Production Manager to GM to step in the gap. He’s currently wearing both hats while searching for his successor as PM.

In this episode, Aaron talks to Victoria and Mark about his experiences in taking over his new role and what it’s meant for the company. While Aaron oversees the operations, George has more time for business development and long-term planning.

The decision to add an overlay of management was caused by three factors, says Aaron. The staff was stressed by the workload, they were having trouble getting projects through the different phases of the job, and steps were being skipped in previously reliable systems because of the rush to get jobs to production. He talks about what his job entails, and some of the challenges, including:

  • Keeping the owner in the mix
  • How to not overload a GM
  • Managing people outside of your own job experience, like designers or marketers
  • Creating new positions to help streamline processes
  • Why to hire from within (if you can)
  • Working with the owner (or CEO)
  • The benefits of a walking meeting
  • Small picture vs. big picture thinking
  • And more…

As promised in the podcast, here’s the link to Aaron’s appearance on The Tim Faller Show, where he outlined his approach to creating a master schedule to control the flow of jobs through the pipeline.

Extreme Makeover: Business Edition

As Mark and Victoria mentioned in this episode, the Extreme Makeover: Business Edition, Jan. 29-30, 2019, is filling up fast — and Super Early Bird Pricing ends this Friday, November 30th.
Click Here for More Information & Registration 

 

Ep.41: Using Virtual Reality to Grow Sales and Profits with Chris Katkish

Virtual reality creates immersive environments in real time. For remodelers, that means your clients could preview and even “walk-through” their projects to see if they like what they’re seeing. 

Guest Chris Katkish says VR can help remodelers streamline their sales and design process, trim the length of the sales cycle, and boost production efficiency by reducing change orders. All of which leads to more sales and more profit.

In this episode, Chris talks to Victoria and Mark about using VR technology to help clients confidently make decisions more quickly in the sales and design process.

Chris is the general manager of InSite Builders and Remodeling in Bethesda, MD. The three owners of InSite have partnered in a company called Limitless Virtual Reality, which enables CAD designs to be viewed in VR.

InSite uses VR as a visualization tool to get concepts across to homeowners. Even if you’re using 3D modeling, they’re still viewed in 2D, and seeing it on screen isn’t the same. VR immersion allows clients to experience the space and see what they’re buying before its built. Chris talks about the ways remodelers can use VR in their businesses, including:

  • When to bring VR into the sales process
  • Building in the charge for the VR design
  • How your 3D model becomes a VR environment
  • The equipment you’d need — and how much it may cost
  • Real-world examples of how VR speeds up client decisions
  • How to use it with Project Managers and Trade Partners
  • And more…

Victoria and Mark also spitball ways to use VR in your marketing. The pace of technology is fast — and VR is the newest tool on the scene. If you’ve got ideas or opinions on how VR may affect the remodeling business or your business, let us know in the comments below.
 

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Ep.39: How NOT to Grow Your Remodeling Business with Judith Miller

The Great Recession gobbled up a whole slew of remodeling companies, but more of them fail during an economic expansion than during a contraction. Growth is great, but it’s risky, and knowing how not to grow will put you ahead of the game.

In this hot market, there are so many opportunities, you can get ahead of yourself too quickly for the health of your company. And that’s where remodeling company owners get into trouble by growing the wrong way. There are potential downsides, and to avoid them, you have to keep you basic best practices — and customer satisfaction and net profits lie at the center, says Judith Miller.

In this episode, Judith joins Victoria and Mark to talk about the ways to grow your company the right way.

Judith has been a facilitator for Remodelers Advantage Roundtables for more than 15 years. She’s a QuickBooks expert, the author of The Remodeler’s Ultimate Guide to QuickBooks, and has been a columnist for Remodeling magazine for more than 10 years. Judith isn’t just a financial guru, she’s a high-level strategist who understands that numbers prove your strategy. She loves the challenge of helping good remodelers become better every day.

When trying to grow, the biggest stumbling block is a lack of control, preparation, and not focusing on the best practices. Judith tells you what those best practices are, and how to grow the right way, while explaining the details, including:

  • The critical need for leadership
  • Why your financials have to be in order
  • The Top 5 things you need to do to build a strong, profitable company
  • The predictable stages of growth — and which is best to grow in
  • How large you can get
  • Why hiring a sales force is the riskiest transition
  • How to build a company you can sell
  • Why growing over 20% may be crazy
  • And more…

You’ll also learn why “The Whale” projects takes too many remodelers down. Click here to go to the Growth Sustainability Calculator we discussed in the episode.

And if you need QuickBooks help, or want bring in Judith as a consultant for your business, you can email her at jfmiller@remodelservices.com.

 

Want More Ways to Improve Your Business in 2019 and Beyond?

We are excited to announce that we are re-launching and re-branding our annual January event, formerly known as the Master Your Remodeling Business Workshop. The Extreme Makeover: Business Edition Event has been re-tooled and re-focused on providing growing remodelers and renovators with the tools necessary to improve their businesses in 2019 and beyond.

In addition to Judith Miller, this 2-day event will feature well-known speakers such as Victoria Downing, Tim Faller and Mark Harari and bring in new faces like Doug Howard and the 2018 Fred Case Award Winner, Michael Sauri. For more information and to grab Super Early Bird discounts, CLICK HERE.

Ep.33: The Sales-to-Production Handoff with Bruce Case

To many remodelers, a project works like a relay race, depending on good handoffs of the baton. The sales-to production-handoff is critical, and if you drop the baton, the race is over.

But there are ways to make it less of a hard handoff and more of a continuum, says Bruce Case. Bruce joins Victoria and Mark to explain how to break down the barriers and bring Sales and Production together as a team.

Bruce Case is the president and CEO of Case Design/Remodeling Inc., one the largest full-service remodeling firms in the nation with more than $60 million is annual revenue. Focused on the Washington, DC, metro market, the company provides a unique mix of design/build and home improvement services. Over the past 15 years, the company has extended its reach across the US through a network of licensees and franshises working under the Case Handyman & Remodeling Services banner. All these initiatives is focus on inspiring team members and clients.

Involving Production from the beginning of a job makes the projects more seamless and collaborative, creating a process that empowers employees and keeps them all focused on the bottom line. Bruce tells you how Case handles this team approach, including:

  • The need for accurate estimating
  • Why Project Managers get to sign off on a contract before the client does
  • Structuring compensation for Sales and Production based on gross profit
  • Who goes to what meetings and why
  • What to do when you need a tie-breaker
  • And a whole lot more…

Bruce talks about how to lead this process, and your team, with empowerment and accountability. For more about Case Design/Remodeling, check out their website. And we’re looking forward to Bruce’s AskAnything Fireside Chat at the Remodeler’s Summit on Sept. 26 — his fourth time sharing his expertise with us.

 
 

Ep.29: How to Build an Award-Winning Company with Jeremy Martin

Success in the remodeling industry is all by the book for Jeremy Martin. That goes for the 50 books he reads per year, and the systems and business processes he institutes and uses at his company. And most importantly, those two factors culminate in “The Book” — the three-ring binder filled with details and documentation that has powered his company’s growth.

Jeremy talked with Victoria and Mark for our live podcast in June — and if you missed it, take this opportunity to catch up. You’ll hear insights and tactics you can put to work for your own company immediately.

A principal with RisherMartin in Austin, TX, Jeremy founded the company with partner Chris Risher. Jeremy graduated from the University of Texas with an engineering degree and went to work at Fortune 500 giants like IBM and Intel. Jeremy combined his corporate experience with his love of building and launched his home building career in 2001. He’s an RA Roundtables member, was recognized as a “Rising Star” by NAHB, and was in the “40 under 40” lists for Professional Builder and Professional Remodeler. With Chris, he was named the 2016 Fred Case Remodeling Entrepreneur of the Year, and was a finalist for the RA Impact Award.

Jeremy’s time with huge companies gives him a different perspective on the remodeling business, and he’s applied the lessons learned at businesses with 60,000 employees to his now 10-person company. “You have to think big to get big,” he says. “But don’t expect that growth to be linear.”

Learn how RisherMartin finds their ideal clients, gets an average of $1 million per job, and how they hire, along with:

  • Setting intentional time on the calendar for big picture thinking
  • Troubleshooting the most treacherous part of the remodeling business
  • The secret to a healthy business partnership
  • How to strive for continuous improvement
  • Selling the fixed-price model
  • And more…

You’ll also get to hear Mark admit his man-crush, and find out what Victoria’s theme song would be. You can learn more about RisherMartin on the company’s website, which devotes a page to The Book — that’s how important it is to their success.

In today’s episode, Victoria mentions a slide that was available during the Live Episode back in June, for those of you who are interested in learning more about Roundtables… Below is a copy of that slide, click to see a larger version.

Ep. 23: Managing Your Customers with Chip Doyle

As a business owner, it seems like you manage everyone — your staff, your crews, your kids, your pets. But if you — and especially your designers — aren’t managing your customers, says Chip Doyle, you’re wasting time and losing out on potential profits.

In this episode, Victoria, Mark and Chip discuss how to break up bottlenecks and speed up the process of handing off from Design to Production. By effectively managing client expectations, setting clear goals and deadlines, and guiding clients intentionally, you can avoid having projects park for too long in design and selections. “Time kills deals,” says Chip.

Chip has been in the sales industry for 28 years, and training with Sandler for nearly 16 years. He’s a sought-after speaker, and will be on the main stage at our Remodeler’s Summit in September, and co-authored Selling to Homeowners The Sandler Way. Chip has a licensed training center and trains companies of all sizes in Pleasant Hill, CA, helping them reach their full potential, exceed expectations and continue to grow.

Empowering designers to guide, and ultimately lead, clients through the design process can increase your profits by 25%, Chip tells our hosts. Some of the ways to get there include:

  • Cutting design time in half, without cutting corners
  • Giving designers the right role models
  • Managing “genius attacks”
  • Setting clear meeting goals and timely next steps
  • The importance of deadlines — for clients
  • Getting projects through that would otherwise stall
  • The traits to look for in a designer — toss the DISC assessment
  • And, as always, much more…

To learn more about Chip and what he can do to help you grow your company, check out his website at www.chipdoyle.sandler.com.

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