mark richardsons growth strategies for 2017
TRANSCRIPT
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2014Our site visits are up over
40%, we receive almost twice as many calls from it and we have gone from the 6th page to the first in a very short time. To say they have done a good job does not do it justice. They have done a fantastic job!
Ray HoffmanMarketing Director, RbA
Milwaukee
“ “ I really like SurePulse. It’s an intuitive tool and I like that everything is in one place. It's useful, easy to use and I have a much better understanding of how we are performing.
Amy LindholmBrand Manager, LP Siding
“ “
AWARDS
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A free copy of Mark Richardson’s book “Fit to Grow”
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Today’s Speaker
Mark Richardson
Renowned author, speaker, and influencer in the remodeling world
Mark G. [email protected] 301.275.0208
Growth Strategies for 2017
Business CyclesRemodeling DB
HandymanBath
Kitchen
Level Market
New Homes
All remodeling categories are not created equal
Note: Analysis uses firms reporting revenue in 2012 and 2013 that were ranked in the top 400 in at least one year.
Source: JCHS tabulations of Qualified Remodeler magazine’s Top 500 Remodelers.
Failure rates vary dramaticallyShare of residential remodeling establishments to cease operations (Percent)
Source: US Census Bureau, Business Information Tracking Series.
11
2016 Remodeling Insights • LIRA (leading indicator of remodeling activity)... 2016 up 5 to
10%
• Kitchen and Bath continue to be very strong sector
• Avg. sale up (DB firms reporting +25% incr. over 2015)
• Election effect less than predicted
• AIG (ageing in place) businesses growing stronger
• Online reviews having more impact than personal referrals
• Major shift in age of clients/demographic remodeling
• Technology revolutionizing process/products/experience
• Top remodeling businesses reporting 20% plus growth in 2016
Key Environmental Indicators
Up or Down Home Appreciation
Up or Down Interest Rates
Up or Down
Up or Down Employment
Housing Demand
Up or Down Stock Market
Up or Down Consumer Confidence
Key Business Differences
• Client demographics
• Specialty vs. Full Service
• Practice vs. Business (owner’s role)
• Showroom vs. In-Home Sales
• In-House Crews vs. Subcontracted labor
• Size/type of projects
• Lead generation methods (marketing vs. word of mouth)
• Who is providing the financing?
• The sales process (one sit vs. multiple/consultative )
• Relationship with technology
Growth Motivations
Motivations
Legacy A Job A Cause
The Business Entrepreneur Investor Ego
Defining Growth in 2017• Top Line Growth?
• Market Share?
• Project Blend?
• Team Growth/Development?
• Profitability?
• Client Experience?
• Business Fitness?
• Strategic Alliances?
CHANGEor Become Irrelevant
“Just do it”
Willing to take risk
Clients found you
High Touch Marketing
Just discuss it
Follow the Fantasy
Focus on the “what”
Want balanced risk
You find the clients
And High Tech Marketing
Control the Fantasy
Also Focus on the “how”
10 YEARS AGO TODAY
YOUR CLIENT...YOUR MARKETING...YOUR SALES
Get a Complimentary Digital Marketing Consult
Call (888) 804-8685Email [email protected]
...and a Google Chromecast!
QUESTIONS“If you don’t know the answer at least
know the question”
Why Grow?
Am I ready to grow?
What do I need to do to grow?
Are my growth goals aligned?
Five Factors for Successful Growth
The Success Factors
FitnessProduct LeadershipTeam Environment
The Environment
Consumer Demand Market Conditions Competitive Dynamic
The Right Product
Easy Relevant How vs What
The Right Team
Master the Labor Team SportTraining
Business Fitness
Processes/SystemsCulture Technologies
Leadership
You Champion Leadership Gaps
Change is an option
Good culture
Project focused
Solid Team
Change is Not an option
Satisfied clients
Watch it happen
Great culture
Client centric
Strong/Aligned Team
Raving Fan Clients
Make it happen!
Good vs. Great Companies
Good Great
Summary• Growth create opportunities for all.
• The environment is strong.
• Leadership alignment is critical.
• Do you have the champions?
• Are the technologies in place?
• Training is a growth strategy.
• Your leadership is key.
• Now is the time act!
Thank You
Mark G. [email protected] 301.275.0208
The Winner is...
Get a Complimentary Digital Marketing Consult
Call (888) 804-8685Email [email protected]
...and a Google Chromecast!