This is the time of year when we take note of our year-end numbers. We ask what can we do to have a strong finish to the year. What can you do?
Perhaps that isn't entirely fair. You can focus on collecting unpaid balances and reducing your AR. You can do an inventory of your staff to determine who should remain and who should be replaced. You should do maintenance on your equipment to make sure everything is running well.
BUT there is NOTHING you can do to improve your financial numbers. The die is already cast, and there is too little time to make changes to improve the current year-end trajectory.
HOWEVER, there is a lot you can do in these final months to change the 2021 trajectory of your business. Doing that now will make this time in 2021 look a lot better to you than 2020 looks today.
What can change your business? More sales and higher profits. That's it! Simple, straightforward, crystal clear – these are the two factors that can change your business. So let's get at it!
What sales strategies are you going to follow to increase your jobs and income?
Did you know that about 70% of ALL property damage is run through the insurance company’s TPA program? Yes, 70% of all available work in your area gets parceled out to the preferred contractors on the carrier's TPA program. Getting on those programs is a pretty big deal!
You can compete against ALL the many restoration companies for the remaining 30%, or you can get on those programs with a substantial volume of work.
There is NO competing, NO bidding, and NO pricing pressure on TPA programs. Assignments are made on rotation, so the big guy doesn't get any more work than the little guy, and the old guy gets no more work than the new guy, and two men and a hammer never underbid you and take the job away.
Imagine calling your customer with this introduction, "Hi Mr. Jones, this is Pete Townsend from ABC Restoration. I’m the USAA contractor assigned to complete your repairs.” SWEET! Do you think you will get this job – ABSOLUTELY!!
Higher profits is a matter of operational efficiency and the focus of another post, but the starting point is always to get more work ??
Many contractors struggle to find just the right combination of sales and marketing strategies to produce the results they so desperately want. Don’t ignore the single biggest boost to income available in the market today. Isn't it time to go nuclear and double or triple your business in 18 – 24 months with TPAs?