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Continuous Learning & Improvement: The “Secret” Weapon of Wealthy Contractors

    

Asian business person working with laptop sit on top of book. Idea and knowledge conceptWorking with so many home improvement business owners over the years, I've come to recognize one common denominator of the most successful entrepreneurs...they are constantly learning.

They may accomplish this by reading books, attending events or learning from fellow entrepreneurs. Typically, it's a combination of the three. They never settle and never stop growing.

This is a passion I share and would suggest all aspiring Wealthy Contractors explore this very moment (if they are not already). In the following, we'll examine the effect that your knowledge and capabilities have on Your Competition, Your Customers and Your Confidence, as well as a Challenge I have for you in 2017.

Your Competition

Let’s say you’re one of the lucky home improvement business owners who has successfully set yourself apart from the competition and are sitting high on a hill looking down at all of your peasant competitors. There is no way anyone could sway any of your customers.

Well, let me be the first to tell you - they’re aren’t as safe as you think they are.

There are so many hungry, young entrepreneurs on your heels who grew up in the Information Age and are used to having all of the tools and data they need at their fingertips. They’ve purposefully built their businesses to be easier to find, more efficient to operate and more customer-focused than yours.

It’s vital that you do more contractor marketing to stay a step ahead.

Your Customers

You’ve spent plenty of your hard earned money to get your customers. Just like a spouse, you owe it to them to not let yourself go.

I’ve seen plenty of business owners get complacent with the way they do business because it’s “how they’ve always done it.” Then, their customer volume starts to dwindle. They lose market share. Soon enough, they find themselves looking at the new shiny contractor in the market with envy.

Why does this happen?

Because their customers forgot about them. The business never innovated, never took advantage of new ways of marketing their business and eventually became old news.

Your customers deserve you and your company at its absolute best. If you want them to commit to be your customer for a lifetime, you owe it to them to consistently learn about new technology and new concepts in your industry.

Are you worried about acquiring most customers for your home improvement business?

“Competence leads to Confidence.” This is a well-known statement from author, consultant and President of High Point University Nido Qubein. Only once you are competent in your skills and abilities can you be confident that you can use them to provide solutions for others.

From my own experience, I can vouch for this. Each year, I read at least 30 books, 6 monthly newsletters, attend multiple conferences, listen to dozens of podcasts and participate in countless webinars. In addition, I talk with as many successful entrepreneurs I can to ensure I am providing my clients with the absolute best, most up-to-date, real world, highly informed, well-rounded advice possible.

Likewise, you and/or your team members walk into customers’ homes every day and position yourself as THE local authority in roofing, kitchen remodeling, bathroom remodeling, etc. Your confidence comes from knowing that you’ve worked in the business for X number of years, you specialize in that particular niche and you know all of the potential challenges and solutions each project faces.

Now, imagine that you not only have the value of your own experience, but you also bring the experience of countless other professionals to the call with you - experts in other specialties, in sales, in customer service - with how much more authority would you walk through that customer’s door? How strong would your presentation be? I bet you’d knock it out of the park.

My Challenge to You

  1. Read at least 4 books this year (just one per quarter) to advance your skills - both personally and professionally. RECOMMENDATION: Start the year by reading (or re-reading) Think and Grow Rich by Napoleon Hill.
  2. Join a group of entrepreneurs you can learn from and remain accountable to. My local mastermind group is an invaluable part of my monthly agenda.
  3. Attend “live” events. Here are just a few events we will attend or participate in this year:

My hope for you is that 2016 is a year full of growth - growth for your business, in your relationships with your family and friends, and most importantly, self-growth so that you too can become a wealthy contractor.