May ♦ 2017
In This Issue...
Does Your Approval Rating surpass that of the U.S. Congress? [Tom Grandy]
Dave Ramsey's EntreLeadership: Take Control of Your Day [Dave Ramsey]
What do you Purchase that You Don't Know the Price Ahead of Time? [Tom Grandy]
Planning For Profit: Workshops locations available [Grandy & Associates]
May Business Advantage Webinar: Driving Forces-Find the Fire in Your Team's Belly [Bill Kinnard]
Profit University Audio Series: Communication Clinic: Twelve Sales Mistakes Technicians Make and How to Avoid Them [Kenny Chapman]
Grandy & Associates Launches Online Training Program; Offers On-Demand Classes On Your Schedule [Grandy & Associates]
"Why Do We Need to Charge So Much?" DVD has been reproduced in three different formats [Grandy & Associates]
Does Your Approval Rating Surpass that of the U.S Congress?
by Tom Grandy
Remember the old days. Democrats and Republicans would fuss and fight all day long and eventually, through some give and take, come to a mutual agreement on an issue. That night they would all go out to dinner together. Not today! It seems like there is an automatic “no” if either side comes up with an idea and the process of negotiation (for the mutual benefit of the country) seems to have vanished. The latest polls I can find show the overall approval rating for Congress is 24%. To be honest, that is higher than I thought it would be.
Two comments from having lived a very long life:
“If the husband and wife are exactly alike, one is unnecessary”
“Only worry about things you can change!”
Short of electing new members to Congress (which isn’t a bad idea) there is little the average American can do about changing how Congress thinks and acts. Again, worry about things you can change. Ok, the intro is over, now for the point.
We need different opinions. If the owner had all the answers they would not need accountants, lawyers, department managers, or even input from their technicians. However, no one has all the answers so we need each other’s opinions. That is how we live, grow, and get better.
Below are a few suggestions to consider when it comes to gathering ideas from others concerning your business.
- Quarterly Company Meetings – Once a quarter have a company meeting. Ideally make it a dinner meeting (for which the company pays). Use it for two purposes:
- Give a State of the Company address. Let the entire team know how the company is going from a profit and loss standpoint and what plans are going to be instituted over the coming months.
- Have an open discussion of positive ideas for changing the company, systems, etc. You might even want to give a prize or prizes for the best ideas.
- Suggestion Program – This can be a formalized system to receive written suggestions from ALL employees on how to improve the company. If it saves the company money…..share a portion of the savings.
- Weekly Tech Meeting – Weekly meetings keep the communication channels open with the opportunity to discuss concerns and/or ideas.
- Create a Customer Board of Directors – Your customers are your company so it’s always good to get their input. Create a Board of Directors made up of residential and commercial clients. Hold quarterly or twice a year meetings around a nice dinner. Ask for input on ways to improve any and all areas of the company.
- Create a Professional Board of Directors – Same idea as the Customer Board of Directors. The difference here is that the Board is made up of professionals. Include your CPA, banker, lawyer and/or any other professionals you associate with.
- Join a Mixed Group – Without exception this one thing can have a more positive affect on your business than anything else you could be part of. The groups are usually made up of 4-6 similar companies in non-competing geographic areas. They usually meet 2-4 times a year rotating from one contractors business to another. Part of the two day meeting involves all team members evaluating the company they are visiting. It can be painful (like joining the service) but like joining the service it is usually something you will later be very glad you did.
- Have an Outside Consultant Evaluate Your Company - It’s always good to have fresh eyes look at your business. Outside consultants will be very frank with you and will make suggestions for change that will benefit your company.
- Listen to Your Wife – Sorry guys but this is important. Women have a God given ability to sense trouble before men do. Your wife will “sense” when there is a problem. They may not know the exact core issue but they can sense it is there. This is even more important if your wife works within the business. She will see and know what’s going on and can provide valuable input.
Ok, these are ideas. Now it’s time for the really hard part. Swallow your pride and actually do something about the issues that came up. If you need to negotiate like Congress is supposed to do, that’s fine. Remember, it is not about you personally. It’s about making the company better for everyone’s benefit. If you will do that, I’ll bet your approval rating will easily surpass Congress at 24%!
If you are a business owner or manager you need to know a lot about most everything. The best source is our Profit University Audio Series. There are over 270+ past presentations to listen to with a new one being posted each month. The normal investment is $24.95/month. However, this month’s Website Special features the Profit University Audio Series for only $19.95/month. The price stays the same no matter how long you are a member. However, you can cancel at any time. Sign up and order today.
Like all our products if you are not 100% happy simply return it for a full refund no questions asked.
[Back to Top]
Special to Grandy & Associates' eNewsletter:
Dave Ramsey's Entreleadership
Take Control of Your Day
By Dave Ramsey
“Time is the scarcest resource, and unless it is managed, nothing else can be managed.” Management expert Peter Drucker said this, and I agree. If you’re like most entrepreneurs, you probably feel there are rarely enough hours in a day – no matter how hard you work – to get things done.
Being distracted doesn’t necessarily mean you’re spending hours watching cat videos or keeping up with friends on Facebook. There are other forces out there that can secretly keep you from being productive. In fact, many of them are work-related:
Choose two times during the day to read and reply to email, and put those times on your calendar. Other than what’s scheduled, turn off your email program so you won’t be tempted.
If you have an assistant, put them in charge of your email, instructing them to forward forwarding only what you need to see.
Getting together to work out project details, hear updates, and communicate priorities is a necessary part of doing business. But meetings can quickly get out of hand, or turn into social outings where nothing is accomplished.
Set a time limit and create an agenda for your meeting – and stick to both. If an issue isn’t resolved in the allotted time, assign someone to work on it and report back by a certain date.
I know, the ability to multitask is generally viewed as a valuable skill in the workplace. But the hard, cold truth is few of us do it well. Our brains just can’t handle five things at once for an extended period. In the long run, you end up less focused, stressed out, and less productive.
Start every morning by writing down your goals for the day and prioritizing them. Stick to your list, focusing on one task at a time. If you get distracted, take care of the issue, and go back to your list.
I love my team. They’re a great bunch of people, both in and out of the office. But socializing is one of those things that can get out of hand if you’re not careful.
A study by OfficeTime.net showed 16 percent of those surveyed spend one-to-two hours a day just talking with friends at work. If you’re naturally super-talkative, block out a few minutes on your calendar each day to socialize, and keep to the time limit. If you don’t like to chat it up, do the same. Spending time with your team is an integral part of being a leader.
If you’ll respect your time, you’ll be amazed by how much more you can accomplish – and how profitable that can be!
*Small-business expert Dave Ramsey is CEO of Ramsey Solutions. He has authored numberous of best-selling books, including EntreLeadership. The Dave Ramsey Show is heard by 12 million listeners each week on more than 575 radio stations and digital outlets. Follow Dave on the web at: www.entreleadership.com.
[Back to Top]
What Do You Purchase That You Don't Know The Price Ahead of Time?
By Tom Grandy
Quick question - what do you currently purchase that you don't know the price of ahead of time? Did you buy tires without knowing the price? Were you surprised at the price of your ice cream cone when you got to the counter to pay? Have you been to Walmart lately? Did you wait in the checkout line wondering what each item in your basket cost? Of course not! Everything you purchase you know the price before you purchase.
Now for another quick question - What is the only industry that does not tell the customer the price before work is performed? You got it…the trades industry. We tell the customer we will fix this or that and by the way Mrs. Jones you will find out what we charged you when you receive the bill the end of the month! What if the eventual bill is more that Mrs. Jones thought it would be? Now we have an unhappy customer that, by the way, may not call us next time. What if Mrs. Jones was billed is more than she can afford? Now the company has a situation where they may not get paid....and they lose a customer.
The reason the rest of the world prices all of its goods and services is so the customer can make a value judgment BEFORE they purchase. If the price is acceptable to the customer, they buy the item. If not, it stays on the shelf. Shouldn't we in the trades industry do the same? Shouldn't we take the worry out of shopping by telling the customer the cost of the repair BEFORE they agree to have the work done?
Flat rate pricing is gradually becoming the standard of the trades industry partially because of what I just shared. The customer wants to know what their investment will be before they tell us to do the repair. Decision Analysis performed a customer survey several years ago. They asked customers if they preferred being charged by the time and material method or by flat rate pricing. The answer was 91% preferred flat rate pricing. Are you listening?
There are several advantages to you and your company when using flat rate pricing:
- The customer no longer "sees" your hourly rate - all they see is the price of the job.
- Customer complaints are typically reduced by over 90%.
- Receivables improve because the technician can (and should) collect monies right at the job. There is no calculation to be made. The total price is in black and white in front of the customer.
- The technician is less likely to under bill the customer.
- When you need to raise your hourly rate you simply reprint the manuals. There is no announcement to your customer base and no one knows a change has taken place!
There is another huge advantage to flat rate pricing. It's the perfect system to sell maintenance agreements. The normal repair price is shown and the reduced price for maintenance agreement customers is printed right next to it. The maintenance agreement customer normally receives a 10%, 15% or 20% discount on any additional materials and labor needed throughout the length of the agreement. The customer can see their potential savings on the current repair if they purchase an annual maintenance agreement on the spot.
Isn't it about time you considered moving towards flat rate pricing? After all, your customer wants to know the price before they purchase. Knowing the price ahead of time will cause Mrs. Jones to go about her business rather than watching you while the repair is being performed. Why watch? The price is now firm so she doesn't care if it takes the technician 30 minutes or three hours since her price was quoted before the job was done.
Web Site Special
Would you like to know more about flat rate, marketing, business management, selling your company or where to find techs? If so there are over 270+ past presentations within our Profit University Audio Series. Best of all a new one is posted, by a different national speaker, each month. The normal investment is $24.95/month. However, this month’s Website Special features the Profit University Audio Series for only $19.95/month. The price stays the same no matter how long you are a member. However, you can cancel at any time. Sign up and order today.
Like all our products, if you are not 100% happy simply return it for a full refund, no questions asked.
[Back to Top]
Planning for Profit: Workshop locations available on our web site
Planning for Profit seminars are two-day workshops held around the country and are in-depth trainings on how to significantly increase profitability.
You will learn exactly what you have to charge per hour to cover costs while generating the profits you want. The program will also create month-by-month, department-by-department cash flow budgets, set proper residential and commercial maintenance agreement pricing, and let you bid jobs for profit (based on your cost of doing business).
Attendence to these events are limited and space is still available. Learn more and register today!
If a workshop isn't scheduled for your area, we encourage you to talk to your Distributor to see if they will be sponsoring a workshop in your city!
[Back to Top]
May Business Advantage Webinar
Take advantage of monthly webinars for your team. Monthly webinars are led by members of the Grandy team and cover topics that range from refining your budget, Succession Planning, Exceptional Customer Service, Communications for Contractors; Best, Better, Good Selling, and more. Each webinar will be recorded and posted in the portal for 120 days after the program air date. Share them with your entire team.
The APRIL Advantage webinar is scheduled for 11:30 AM Central Time on Monday, May 15, 2017. The presentation is: "Driving Forces-Find the Fire in Your Team's Belly" by Bill Kinnard.
Click HERE to register.
[Back to Top]
Profit University Audio Series
Twelve Sales Mistakes and How to Avoid Them
By Kenny Chapman
Short Presentation Description:
This presentation will focus on sales mistakes technicians make. However, the reality is that the same twelve mistakes can be applied to anyone in sales, at any level. Get ready to listen to some really practical suggestions that will increase your sales.
Mistake #1 -Talk Too Much and Why
Mistake #2 - Presumptions vs. Questions
- How/why questions set you free
- Finding out what’s important to the customer
Mistake #3 - Fail To Explore Budgets and Goals of Customer
- Why did the customer call
- Solution focused sales
Mistake #4 - Allow Maybe Over Getting to Yes or No
Mistake #5 – Lack of Confidence
- Confidence cash
- Skill Practice vs. Role Play
Mistake #6 – Lack of Belief
- Three P’s that drive belief and change
Mistake #7 – Lack of Differentiation
- What makes you and the company unique
Mistake #8 - Don’t See Themselves as Professionals
Mistake #9 – Lack of Follow Up
Mistake #10 – Pre-Judge
- Pre-judging vs. Conscious Awareness
Mistake #11 – Being to Aggressive
Mistake #12 – Not Aggressive Enough
- Six C’s of Delivering Options
Listen to a sample of this months' program! The Profit University Audio Series features a new trade focused audio presentation every month. These programs are designed to provide the trades contractor relevant information that can help their business immediately. Get more information on this program or sign up for a monthly subscription today.
[Back to Top]
TRAIN YOUR SERVICE DEPARTMENT TO BE PROFITABLE
Self-paced online program offers the training you want on your schedule
Having an effective Service Department is more than dispatching calls, fixing equipment, and keeping customers from complaining. It's an important profit center for your business! Grandy & Associates has developed several in-depth training modules geared toward helping you develop a profitable Service Department. Each module focuses on a specific key area of profitability.
SERVICE MANAGERS' UNIVERSITY
- Module 1: Profitable Service Starts with a Solid Foundation
- Module 2: Demand Service - “It’s all about that price!”
- Module 3: Demand Service - Key Performance Indicators
- Module 4: Maintenance Agreements - Profitable Lifetime Customers
- Module 5: Maintenance Agreements - Key Performance Indicators
- Module 6: ProfitSMART Activities – Turning on the Cash Flow
- Module 7: Career Technicians, Goals, and Motivation
- Module 8: Service Department Leadership – Where are we going?
LEARN MORE about our online training program and enroll today!
[Back to Top]
"Why Do We Need to Charge So Much?" DVD has been reproduced in three DIFFERENT formats
The famously successful Why Do We Need To Charge So Much? DVD has now been completely rewritten in three different formats. Each format has a unique purpose with interaction.
• Online Version – The online version is interactive and can be used by any individual at any time. It contains a 10-question quiz at the end, which is automatically graded. Assuming the participant receives a grade of 80% or better, a Certificate of Completion can be printed. This format will not only be fun to take but the Q/A will insure the individual understands what they just listened to. Stop and start as needed. If the phone rings, hit pause and return in a few minutes or days later to complete the course.
• CD Version – This version is identical to the online version, but an unlimited number of people may take the course without an internet connection. It can be easily available for the new employees to review the material. This version is perfect for companies that want multiple current employees or new hires to take the program. They can a Certificate of Completion for having learned the basics of labor pricing.
• DVD Version – This version is designed for the owner or department head to utilize in a “group discussion” environment. Any section of the program can be accessed at any time (equipment replacement costs, labor, overhead, etc.) which allows the leader to choose what material they want to cover in what order. It’s perfect for company meetings or weekly service tech meetings. Each topic takes about 10 minutes to review. This version has a Leaders Workbook, which has questions/comments the leader can utilize to direct the discussion. The workbook contains quiz questions that can be used to be sure everyone understands what has been presented.
Learn more or order your version today!
[Back to Top]