Business Owner Archives - Page 8 of 13

Ep.171: Design Services as a Profit Center For Your Business with Dan Baumann

January 6, 2022 00:32:39

More and more remodeling and home building contractors realize the value their design services bring to their clients, and it is becoming a profit center for many companies. Guest Dan Baumann is here to share the many reasons why you should be charging a fair price for your design services.

Dan is the founder of Chief Experts Academy, a resource-packed treasure trove of information that provides ongoing training, support, and content for contractors and designers involved in the sales and development of plans for residential and light commercial buildings.

Victoria, Mark and Dan talk more about:

Compensation for design services
Why some contractors may not charge for these services
How design services can save clients money on their projects
And more…

Is Your Production Team Focused on Profit in 2022?

Masterclass Starting on Monday, January 10, 2022

As we begin the New Year, get your production team ready to focus on profit with weekly Production Team Training, whether they are in the office or in the field on a phone, tablet or laptop.

Six afternoon sessions, every other week, starting on January 10th, led by R/A’s Production “Guru” Tim Faller.

Ep.167: Answers to Questions You Didn’t Know You Had with Michael Anschel

November 18, 2021 00:28:57

In a field filled with uncertainty, remodeling teams may find themselves asking an abundance of questions on a regular basis. And, in many cases, there are questions that haven’t even come to mind yet! So, guest Michael Anschel is here to provide insight into topics that you may not have known you needed.

Michael is the founder, owner, and principal designer for Otogawa-Anschel Design-Build, and has built a company that focuses on using an appropriate amount of space for living, and building sound structures that will last. His goal is to continue to offer unique custom design, build great structures, and promote the use of green building techniques both to the industry and the general public.

Victoria, Mark and Michael talk more about:

Some of the biggest challenges that remodelers face
Approaching estimations, markups and profits
Utilizing the proper mindset
And more…

The Easy-to-Execute System for Dominating Your Service Market

Ep.160: Surviving Post-Pandemic: How Do You Find Balance in Your World? with Bob Logan

August 26, 2021 00:22:58

Our lives have been turned upside down due to the pandemic, especially in the construction industry. Dealing with supply chain issues, a critical shortage of labor (especially craftsmen), and lingering concerns about COVID-19, many are stuck wondering how to get through it all. However, all of this has also helped provide perspective about moving forward. So, how do we move forward? Guest Bob Logan has some answers.

With nearly 30 years as a development and corporate relations professional in a university setting, Bob Logan has seen it all. He is the president of Find Your Path LLC and has helped with missions to Mars, coached football in Italy, and raised millions of dollars in philanthropy. His experience as a motivational speaker and business consultant brings a new perspective to this episode that you do not want to miss.

Victoria, Mark and Bob talk more about:

Being able to accept potential risk
Dealing with change
Facing failure
And more…

Don't Miss Bob Logan's Keynote Presentation at the Remodelers Summit

Ep.124: Applying What You Have Learned with John Lessick

September 24, 2020 00:28:38

Conferences, blog posts, podcasts, webinars, roundtables peer groups, consulting, coaching… information is everywhere.

But, just because you’re opening yourself up to these opportunities to learn, it doesn’t mean anything will ever change.

The hard part is what comes after you get the information. John Lessick joins Victoria and Mark to discuss how to take what you’re learning and applying it to make you and your business stronger.

John Lessick is the President and Owner of APEX Wood Floors, Inc. in Chicago, IL. In 1985, John joined APEX as an apprentice and spent nine years learning every facet of the business before purchasing the company in 1994. Thanks to his expertise and vision, the business has blossomed and evolved, growing from 5 employees to nearly 25 over the last 25 years.

Victoria, Mark and John cover:

How outside resources and advisors have helped.
How the 3-5 year plan that John has put together has helped his business.
Learning about and implementing LEAN process improvement.
Specific examples of how John has implemented changes in his business.
And more…

Helping Your Business Apply What You Have Learned

If you are interested to learn more about how the Business Consultants & Coaches at Remodelers Advantage can help you and your business, contact Doug Howard today.

Ep.106: Six Words That Will Destroy Your Business (and what to do about it)

May 20, 2020 00:24:54

Are you resistant to change? Do you believe that because something has always worked for you, it’s “obviously” the best way to do it? Have you ever said, “we’ve always done it this way,” as an argument against change?

If so, then you are playing a dangerous game of chicken with your company, because these six words will eventually be the downfall of your business.

In this week’s episode, Victoria and Mark discuss the dangers hidden behind this seemingly innocent string of words, and they share proven methods to not only overcome your fear of change, but also to ensure you’re making the right decisions for change.

Because change for changes sake is just as dangerous as not changing at all.

Are you able to drive change in your business? Are you “stuck” & unsure about what step to take next?

Whether it’s business, finance or production we have the experienced, professional coaches standing by to help you and your team battle through these uncertain times.
Click here to learn more about Remodelers Advantage Business Coaching Services.

Ep.104: [Unscripted Back-Up] How to Hit Healthy Net Profits in any Economic Climate with Mike Medford Sr.

March 25, 2020 0:33:40

Editor’s note: We’re all working from our homes, away from the friendly confines of the office and its podcasting studio. So we dug into the virtual vault to bring you this episode. We’re in an uncertain time for many remodelers, so here’s some advice that will help you weather any business climate.

One of our core principles is that remodeling companies should make a good net profit, after paying the owners an above-average salary. When the economy’s booming, you can get away with a lot and still hit those goals, sometimes by accident. But the goal is to get those healthy net profits consistently, year after year, even in a downturn.

In this episode, Mike Medford Sr. talks to Victoria and Mark about how to do just that. Before seeing the metrics of the Top Ten Roundtables members a few years ago, Mike says his financials were always in flux. But then he took those figures and made them hard targets.

Mike Medford Sr. has been a home remodeling contractor for over 40 years. In 2007, he partnered with his son, Mike Jr. to form what is now Medford Design Build, with offices in Colleyville and Arlington, TX. Mike Sr. is the president of Medford Design Build.

Mike challenged himself and his team to hit the new fixed targets. He refined their processes and challenged his team to hit those targets. By the next quarterly meeting, the company’s profits were rising. He talks about how he and his team made it happen, including:

Creating a profit-centric culture
How net profits will help you beat the labor shortage
Focusing your staff on gross profit
The importance of open books to the process
Setting up a bonus structure
Building time in to plan
And more…

Mike also talks about getting back to the art of contracting and how important that is to your margins.

Time to Give Back…

After more than 30 years of working with some of the finest Remodelers and Renovators in the business, we are facing new challenges in our industry. We want to give back to an industry that has supported us through good times and bad, and so we’ve created Build Aid, a free event to help support our members, associates, and friends in the remodeling community.

Join us on April 1-2 as we explore various ways your business can navigate these tough times, and position yourselves as a leader when the world begins to recover and re-build.
Click Here to Learn More & Register >>

Ep.103: Positive Growth in Difficult Situations with Kathy O’Brien

March 11, 2020 0:25:42

We talk about the J Curve a lot around here — picture a lower-case J. When you apply change principles to your business — new people, systems, and processes — they can initially send your business on a downward trajectory before soaring with your success. If you want to grow your company, listen carefully!

Our guest today breaks this process down into four stages of development:

Forming: The getting to know you stage
Storming: When conflicts arise (the bottom of the J)
Norming: Common goals are defined, an agreement is reached
Performing: Working toward a common goal and looking forward

In this episode, Kathy O’Brien talks to Victoria and Mark about how to manage your growth strategies and the importance of being a strong leader in challenging times.

Kathy was the founding CEO of the St. Louis Alzheimer’s Association for over 25 years and then served as Senior Vice President of the National Office in Chicago. She received numerous awards and recognition for her work. Kathy now volunteers as a mentor/consultant to 5stone Construction in St. Louis, MO, helping with business growth strategies — she first got to know the company as a client. She was so impressed with the quality of the work and the people, she has worked with 5stone for the last several years, developing systems and processes, determining annual goals and individual employee performance indicators, hiring to get “the right people on the bus,” and managing fast growth over the last four years.

Kathy says those four stages of development apply to making positive growth in professional development, organizational development, and personal development. You go through the stages in every business relationship, personal relationship, and client relationship. She breaks down the stages, and how they present themselves in the remodeling business, including:

How it plays out with employees
Why it’s a continuous process
Getting through the storming stage successfully
How one person can cause a storm
Why leadership and core values are important through all the stages
Making it okay to disagree, and fostering honest dialog
What to do when you’re still sinking
And more …

If you’re finding yourself stuck in the storming stage, Kathy says there’s great value in having support with other leaders, by networking or in peer groups. She also recommends three books to read to boost your leadership skills:

Ep.100: The Drivers that Make for a Successful Exit with John Warrillow

February 19, 2020 00:26:25

It’s our 100th episode, and to mark the occasion, we’re welcoming back our first guest ever to talk about how to leave your business behind happily.

On average, 75 percent of founders who exit their company have regrets within one year of leaving, and only five percent are actually happy with the net proceeds of their exit.

In this episode, John Warrillow will discuss why this happens with Victoria and Mark, and how business owners can better prepare for an exit that will leave them with no regrets.

John is an entrepreneur and author with more than 20 years of research into the small- and medium-sized business market. He’s the founder of The Value Builder System, which aims to level the playing field for business owners as they approach their exits.

When you sell your company, there are factors that will dictate how happy you are after it’s no longer yours, says John. The first is that the business is ready to sell. The second is a little less clear-cut — the seller has to have done the psychological work that sets them up for success. John talks about what that means, and how to get to the point where you can make a successful exit, including:

Why there can be regrets
Being clear on what’s next
The “push factors” vs. the “pull factors”
Selling and staying or going
Why it’s not about the money
The biggest fears that come with selling
Dealing with private equity groups
The pitfalls of financing your buyer
How to treat your employees during the transition
The top three things that determine if your business is ready to sell
And more …

If you’d like to hear more about the first part of successfully selling your company — getting it ready to sell — listen to Episode 1. And to learn even more, go to John’s website, builttosell.com.

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Ep.99: Adapting and Leading Through a Health Crisis with Jef and Monica Forward

February 12, 2020 00:35:48

Being able to adapt and lead through a crisis — personal or business — is a critical skill for any business owner.

After their best year ever in 2018, Jef and Monica Forward were gearing up for an even stronger 2019. Everything was on course until two key players were diagnosed with cancer. One of them was Monica, who was the company’s only estimator at the time. The other was their lead designer.

One year later, everyone is alive, and despite all the difficulties, they also hit all of their business goals.

In this episode, Jef and Monica talk about the challenges with Victoria and Mark, and share insights into how they kept it all going.

Jef and Monica are business partners at Forward Design Build Remodel in Ann Arbor MI. Jef has participated in every level at Remodelers Advantage Roundtables and is a member of our MentorFor group. Over the last four years, Jef has focused on improving his coaching and leadership skills, resulting in improved client satisfaction, planned healthy growth and a positive team culture. Jef was recently a semi-finalist for the Fred Case Entrepreneur Award, and for the Remodelers Advantage Impact Award. Jef credits all of this success to his collaboration with Monica, their team, and Roundtables.

The team culture at their company was a key component of the company coming together and adapting to the emotional and business changes, Monica and Jef say. When her diagnosis came, they were about to implement The Great Game of Business, which empowers every employee to act like an owner and share in the profits. But then everything changed. Jef and Monica talk about how they got through the year, including:

Being prepared for the unexpected
Developing a strategy to get through
How to deal with work absences
The importance of cross-training
Figuring out who takes over the extra work
Tapping into the strength of your team
Being open about your tough times
Leading through vulnerability
Maintaining a positive attitude
Handling the emotional components
And more …

The company continues to perform at peak levels due to the strength of the company culture, and their proven processes and systems.

Cool Gear, Great Cause

If you’re looking for cool gear and apparel to show your Roundtables pride that also supports a great cause, check out our Shop. All of the proceeds go to our partner, The American Cancer Society. It’s a win-win!

Ep.96: Tiered Growth: Understanding Metrics and Recognizing Signs to Set Profitable Sales Goals with Michael Hodgin

January 22, 2020 00:25:24

Most people would consider a company jumping from $1.5 million to $3 million in revenue a growing organization. However, when we look beyond gross sales, those numbers don’t necessarily mean it grew. It could even mean the company is less profitable — and ultimately less successful — than it was before.

Michael Hodgin says planning for, and implementing, tiered advances are a better strategy for deliberate, healthy growth.

In this episode, Michael discusses his tiered increase growth strategy with Victoria and Mark. For healthy growth, he says you have to set and meet certain goals for sales, job costs, systems and performance before taking the next step.

Michael is a general contractor and business consultant living in the Rogue Valley of Southern Oregon. He started his first construction company as a one-man-show in 2000, eventually growing Coleman Creek Construction to include a successful team of 15. Michael joined Remodeler’s Advantage in 2016 in an effort to deliver the greatest possible value to his clients. Investing in the development of efficient systems for his own business inspired the creation of his consulting agency, Maestro’s Toolbox.

Micheal says that your company’s gross sales should bump up to the next milestone only once your teams have mastered sales, pre-construction, and production systems at their current revenue level. That puts a company in a stronger position to handle the inevitable increase in workload. He talks about how to accomplish healthy, tiered growth for you remodeling company, including:

The infrastructure milestones to hit
Taking deliberate steps
The importance of setting goals
Focusing on hitting those goals
Proving your success
Nailing down all your job costs
Managing slippage
Building the foundation for growth
The metrics that tell you that you’re ready for the next step
Stepping away and delegating
And more …

Planning your growth, setting targets, and understanding why and how you hit them will spur the right kind of growth for you and your company.

Business Owner