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 recently retired but before that she 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.
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…