As a remodeling business owner, building wealth and financial security is something you want to achieve.
Unfortunately, it’s something that many put off because the needs of today are more pressing, especially with the current market.
In this episode, Victoria and Mark talk to George Kall about tips and advice on planning for your future financial security today.
George owns Metro Building and Remodeling Group, a Design-Build firm in Ashburn, VA. George started the company seven years ago and now employs a team of 9 and was recently ranked #107 on this year’s Remodeling Magazines list of largest remodelers.
Victoria, Mark, and George talk more about:
Establishing a company 401k and how you implement it.
“The Six Habits are behaviors that we act out every day, minute to minute. These are the habits that define our relationship with ourselves, and our relationship with the world around us.”
Remodelers Advantage is dedicated to helping remodeling business owners become more successful, while creating an environment that allows them to lead a more balanced and satisfying life.
Victoria and Mark welcome best-selling author, Laura DiBenedetto, to the show to share the truths that reveal the pathway to the truest freedom a person can have.
TEDx Speaker and author of The Six Habits, Laura teaches us how to create the life of our dreams without sacrificing what we love. As Founder and CEO of Vision Advertising, she has helped hundreds of companies build and grow profitable enterprises. Laura lives on Maui with her husband.
Victoria, Mark and Laura talk more about:
How entrepreneurs can find the time to nurture, heal and grow themselves
The kind of habits that determine our journey through life
How we can begin to master those habits
What actions you need to take to begin to change your life
Building your business around yourself, not the other way around
Wayne Ottum joins us to talk about the 9 components of extraordinary leadership and outlines some basic steps to help businesses owners become more effective leaders. Wayne discusses the importance of creating a company vision, building the right culture, and the difference between leadership and management.
Wayne is a senior consultant at Remodelers Advantage and is the president of his own consulting firm Ottum Enterprises LLC. Wayne has over 30+ years of consulting experience and has over 15 years of experience working with Remodelers Advantage.
Guest David Gerstel joins the show to talk about his new book Building Freedom: A Construction Pro’s Path to Financial Independence. David also discusses topics including being lean and frugal, and having an employee centered company.
David Gerstel has over 50 years of experience in the construction industry, and is the author of many books including Nail Your Numbers and his new book Building Freedom: A Construction Pro’s Path to Financial Independence.
As a society, we are now spending close to four hours per day on our smartphones, a 59% increase compared to just two years ago. The total amount of time that each person spends in front of all media per day is 12 hours and 21 minutes, which is up 11% over two years, and the amount of time we spend socializing each day has dropped 18% compared to 2003.
So, if we extrapolate these trends, where will humanity be in just 10 short years?
Guest Rob Krecak is on a mission to positively impact the lives of one billion people with his company Humans First, which aims to show people how technology is impacting their mental health, relationships, and productivity at work.
Victoria, Mark and Rob talk more about:
How technology impacts us in ways we are unaware of
Technology’s role in our relationships
Being more mindful about technology usage
A Podcast To Help You Improve The Bottom Line Through Production Training
The Tim Faller Show, our “brother podcast” airs every Monday and is a fantastic resource for every remodeling business owner, key manager or production team member in the business.
Co-hosted by Tim Faller and Steve Wheeler, the show has more than 175 episodes and is jam-packed with tips, advice and guidance from some of the best in the industry. Click hereto learn more and make sure to tune in every Monday!
Sometimes it may feel that kindness is in short supply. That’s why it’s so important to take the initiative to remain vigilant and recognize kindness whenever you can. Guest Chris Stebnitz shares something he does weekly, that results in a huge impact on those around him.
Chris is a third-generation remodeling company owner in Elkhorn, Wisconsin with over 30 years of experience in the industry. Stebnitz Builders’ focus is to be the very best listening company, translating into a wonderful experience for their clients and a project completed to its highest standards with the greatest rewards for their clients and business partners.
Victoria, Mark and Chris talk more about:
Showing support to team members
Creating positive morale within your company
The importance of giving back to your employees
Learn With Our Experts
Whether held in person at our headquarters in Maryland, or presented virtually, Masterclasses are rich, intense, interactive learning experiences with plenty of hands-on instruction; blended with information, advice and strategies from some of the most experienced instructors in the industry.
“The high cost of replacing employees means it’s important to find ways to retain the best performers, and studies show that transparency from the top can be a solution, boosting employee engagement and motivation.
One way to achieve that transparency is to show employees the company’s numbers and teach them the business. Why not get them in the same game as the owner?
The strategy is to create a business of business people. Then and only then will they begin to make a connection to the numbers that measure their performance and talk intelligently about improving the business.”
– Steve Baker
Steve Baker joins Victoria and Mark to talk more about the benefits and advantages of open book management, as well as some of the challenges that business owners face.
Steve is Vice President of The Great Game of Business, Inc. and co-authored Get in the Game as well as the update of the number one bestseller, The Great Game of Business—20th Anniversary Edition.
Known for his engaging and irreverent style, Steve is a top-rated, sought-after speaker and coach on open-book management, strategy and execution, leadership, and employee engagement.
Victoria, Mark and Steve talk more about:
The best reasons that a business owner should teach their people business
Common perceptions that employees have of ownership when there isn’t open-book transparency
How employees can benefit from an open-book policy
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?
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
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 >>
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!