Each year, nearly half a million small businesses in the United States close their doors for the last time. In the same period, however, almost 100,000 small business owners become millionaires for the first time, proving that the trappings of success exist for those willing to make the tough decisions and go through the growing pains that come with success. The plumbing and HVAC contracting industries are a perfect example of this phenomenon – many contractors manage to keep their customers happy, grow every year and eventually reach financial freedom, while others commit critical errors that leave their businesses in ruin.
This article looks at how contractors who specialize in plumbing or HVAC can elevate their business success. Building a great business is more than just hard work – it’s a mindset that you take with you everywhere. Keep reading to find out the best ways to ensure that you and your business prosper in the coming years.
Move from Technician to Business Manager:
It’s important to stick to what you know as a contractor, and most HVAC or plumbing companies exist because of a founder with a great skill set as a plumber or HVAC technician. At the same time, it’s important to recognize the difference between owning a business and owning a job. If your plumbing company can’t operate without your direct daily involvement, you don’t own a business, you own a job.
To ensure your ongoing success, it’s important that you make the transition from technician to business manager. While some feel that their lack of involvement in daily tasks could be bad for their business, the opposite is true. A business that relies on the daily involvement of one person is not stable – what if you get sick or injured? What if you have an emergency across the country? You need to build self-sustaining systems to ensure long-term success.
Learn to Create and Manage Growth:
Many contractors operate with no strategy for long-term sales generation, taking whatever business comes along without a clear plan for getting more. Not only does this result in unpredictable revenue, but this attitude itself is why companies end up closing their doors.
Businesses need to be growing with new sales on a regular basis, and building a predictable and sustainable revenue stream should be a priority for any business owner. Many contractors worry about getting “too busy,” or having too many clients for their capacity. No successful business owner has ever complained that too many clients wanted to give them money – you need to have a plan in place to grow and manage your firm while maintaining excellent service
Embrace Technological Change in Your Industry:
The branch that doesn’t bend will always break. This old proverb highlights the importance of being flexible and changing with the times, and that’s never been more important than it is today in the construction industry. If you’re a small HVAC firm that’s looking to grow, the software solutions available today can help you manage documents, track labor time, create invoices, manage payroll, and do just about any task related to managing your projects.
Not only do innovations like this save you huge amounts of time and paperwork, but you’ll also have more mental energy to focus on managing your clients and find new ones – your two most important activities as a business owner.
Focus on Energy Saving and Green Thinking:
Consumers are more concerned than ever about energy efficiency and environmentally friendly systems, and plumbers and HVAC technicians are losing out by failing to market effectively to these consumers. Plumbing and HVAC are not normally seen as environmentally conscious services, but they’re needs that we all have. Finding ways to market your services as an environmentally conscious business should keep your phones ringing off the hook.
Many people will tell you that it’s difficult to survive and thrive as a small business owner, but success is waiting for you if you’re willing to do things the right way and makes changes when needed. Become a manager of your business instead of a technician, implement systems to ensure and manage growth, adopt the latest technologies and help your customers save money and the environment with green technologies, and you’re sure to find success in plumbing and HVAC in the coming years.