The New Year has arrived. Goals have been set. Resolutions have been made. 2017 is sure to be full of many wins in life and business. But, the truth is, most contractors will not reach their goals. Most will come out of the gate with fire in their eyes, ready to conquer the world, but will lose steam at some point and settle back into old habits—and the same old results.
Here are a few ways to ensure 2017 produces the planned results.
1. Clarity is key.
As the leader of your business, clarity will make all the difference. Without a clear end result, talent and time is wasted. Imagine it’s Dec. 31, 2020, and determine what will need to happen to feel that the year has been a win. The goals a leader pursues in 2017 should only be goals that will help reach the longer-term vision.
Don’t waste time or the talents of people on anything that does not get the company closer to what it should look like a few years down the road. Take some time today to think about what is really wanted for the business. Create a definition of winning that all team members can rally behind—and make it clear to everyone.
2. Get little wins every day.
Clarity is one half of the foundation needed to succeed. The other is consistency. Elite performers are elite because they build habits that produce results. A weightlifter may increase his lift total by 100 pounds in a year, but it’s done at a rate of 3 pounds per week.
Make a commitment to move one small step ahead each day. Measure it. In the short term, pay more attention to the right behavior than to what is accomplished each day. The compound effect of those small wins pays big over time. Encourage salespeople to make and/or nurture one new relationship each day. Encourage foremen to find a way to be 1 percent more efficient each day. Creating momentum starts with little wins. For leaders, creating and sustaining momentum should be one of the top roles fulfilled each day.
3. Clean house.
Company A grew from $18 million to more than $30 million in revenue in one year, after three years of a plateau. What happened to spur the growth? The owner fired almost 80 percent of the sales staff, kept the top employees and the results were astonishing.
It’s crucial to surround the team with other like-minded winners who are positive, committed to high performance and welcome accountability. More goals can be accomplished with the right few employees than with the mediocre many. Commit to being a lion instead of a sheep.
4. Fix the experience.
The latest marketing tactic will not help a business that delivers an average experience. Everything the company does or doesn’t do is part of the experience. When a contractor makes a commitment to provide the best experience a client has ever had, great things happen. Pay attention to every touch the client has with the company. Is it flawless? Is it easy? If not, fix it now.
5. Focus on profit.
Top line revenue is important, but nothing gives life like profit. The average contracting business is starved when it comes to profit. Think of all that needs to happen for a project to be successful. Think of the risk to health, property and reputation. To settle for a small profit is insane.
Try this for the next 30 days: Only talk about profit. Measure it, train on it, focus on it, and it will improve. It’s not uncommon for a contracting company to increase profit by 7 percent to 15 percent in 90 days when the whole team is focused on it.
What kind of year will 2017 be? It depends on the performance of the leader at the top. Get focused, be relentlessly consistent and cut employees from the team who are not pulling their weight. Make your business experience one that competitors envy, and focus on profit. This combination will make all the difference.
