The start of a new year always brings with it a sense of optimism. “This is it,” we think. “This will be my year.” This feeling likely is stronger if you’re a business owner. The desire to see your company succeed is as primal as, well, wanting to see your baby grow and thrive. So this is a great time of year to reflect on the changes we can make to realize those dreams. Here are a few suggestions that come to mind:
1. I will be firm on pricing and charge what my services/products are worth. This is true for all of us in the industry, whether you’re a builder or retailer, but especially if you’re a service tech. The urge to compete with other pool companies for the job can come at a terrible price — literally. When we devalue our work this way, it’s, as Rich Gallo of Pure Swim puts it, “a race to the bottom.” No good can come of it. Instead, explain your pricing and the value your customer receives from choosing to do business with you.
2. I will facilitate employee growth and empower them. Your employees are the backbone of your company and, in this drought of skilled labor, it’s more important than ever to support their growth. Find out what their career goals are and help them gain the skills they need to realize those goals. Once they have that capability and confidence, empower them to make decisions. This can be a tough step for many business owners, but ultimately, your employees will feel directly connected to the growth and success of your business.
3. I will evaluate systems and processes. When was the last time you examined how effective or efficient your systems and processes are? If it’s been more than a year, it’s time to evaluate whether they’re still working for you. Look for ways to streamline your work flow, whether it’s the accounting or point-of-sale system, a sales process, a project management process, etc. Most importantly, document these changes so employees can implement them immediately. Bring in consultants to help you — sometimes an outsider’s perspective can reveal major shortcomings or areas for improvement. This step is key in fostering growth because when you have a solid, successful system in place, it can be duplicated.
4. I will keep my eyes on the prize. There’s no one who works harder than an entrepreneur. Starting and running a pool and spa business can be extremely demanding, and there are so many day-to-day tasks that require your attention. Add to that all the little fires that need putting out, and it’s easy to lose sight of the big picture. That’s why it’s important to set larger goals and be proactive for your business rather than reactive. Identify initiatives that will help your business get to the next level, whether that’s opening an additional location, planning your succession strategy, or growing your territory.
5. I will track and harness data. With the help of technology, it’s become easier and easier for businesses to gather data, whether it’s inventory patterns, cash flow, customer preferences, staff efficiencies, construction work flow, etc. All that data is gold just waiting to be mined. If it sounds overwhelming, pick just one area to start and see what it reveals. Chances are, you’ll be able to make small changes that have a big impact.
Which resolution(s) will you adopt? Drop me a line and let me know how it goes. May 2019 bring you success and satisfaction in this wonderful industry!
