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Business Solutions for Maximizing Your Profits

January 2010    

Since 1992, NSPG has been providing the tools that allow contractors to increase profits and minimize business hassles. With our simple-to-use-tools, you can make being a business owner what you always wanted to it be - successful, profitable and rewarding.

Your Business Team  
No matter how much you spend on advertising; how you paint your trucks; how you run the business, the face of you company to most of your customers is the technician who comes to the door.  This is something we all know, but seldom have the time or energy to confront.  Your techs can make or break your business, and Now is the perfect time to upgrade your techs.

In this case, Now means two things.  Today's business climate is bad and slowly improving in many areas, so it may be a good time to make some changes.  Now also means any time - it's always a good time to improve your techs and your business.

Highly trained, highly motivated, skilled technicians are a must for a business to succeed and grow.  If this does not describe your field employees, it's time to do something about it.  Most successful businesses follow a two pronged approach to improving the quality of their techs - new hires, and internal growth.

Today's slowly improving economy provides a prime opportunity to improve the quality of your field personnel.  In many areas of the country, your competitors have survived by cutting back on salaries, benefits, and the number of employees.  While you probably don't want to hire the first people let go from a competitor, cut backs often make the best techs take a look around to for better employment  opportunities.  Your competitors woes can work to your advantage.  Hard times can often set the stage for growth. 

One of the ironic aspects of the current slow business climate is the difficulty many businesses have in finding high quality technicians.  Why would it be hard to hire someone when so many have been laid off; so many businesses are smaller.  Did the good techs just disappear?  Did they all leave the business?  Whether you're looking to hire good techs or to keep the good techs you have, you need to do it right.

Your internal policies can attract new, high quality techs while motivating your existing employees.  The best techs are held tightly by most companies.  This is often not done by high salaries, but by the other benefits we tend to overlook.  Things like training, benefits, and work environment are often more important in difficult times that the highest salary. 

The January issue of Plumbing & Mechanical magazine highlights the "Best Contractor To Work For" for 2009 - Midwest Mechanical Contractors. Their business is run in a way that encourages open communication at all levels of the operation.  Employees are encouraged to contribute every day by the high standards expected of them, and the rewards and recognition they receive.

The management concepts used by Midwest Mechanical Contractors are not new or secret.  They rest on a change in the mindset of the business managers who realized that their success relied upon the dedication and skills of their employees.  The entire organization must work toward common goals in order to succeed.

A key aspect of motivating everyone to work together is an openness about many of the financial aspects of the business.  To keep your techs engaged and motivated, they need to receive the benefits that matter to them, and they need to know and what they cost.  Benefits like medical and continuing education are important, but unless all employees know what they cost, their day-to-day value is lost.  Most employees have no idea how expensive their benefit package is.  You need to Crunch you Numbers and let them know to reinforce the value in their minds.

High performing techs need for management to listen to their ideas so they can feel that they have a stake in the business.  Management must set clear performance goals and then reward achievement.  Companies like Midwest Mechanical Contractors hold awards ceremonies to publicly recognize the contributions of their employees.  Many businesses do this for sales achievements and other bottom line issues, but contributions to business processes and other intangibles contributions should also be recognized.

All of these non-salary motivators and success techniques need to be built in to how the business is run.  They need to be documented so they can be continued and built upon as management grows.  This documentation process is critical for continuity of business operations, and it will also improve the value of your company if you ever decide to sell it.

The success of any business lies with its employees.  The most successful businesses know this, and strive to involve their employees in just about every aspect of building the business.  A successful business that is known for high quality service and value is built upon the skills and enthusiasm of its employees who interact with their customers every day.   

NSPG software tools can help you quantify what it costs to run your own successful business.  Knowing your numbers that you can use to motivate your employees and properly price and to sell your services are critical if you are going build your own profitable, high quality business.

- - - - - - -

Give Mike Conroy a call to discuss motivating your employees, creating your own market niche, selective discounts, loss leaders, your numbers, your performance benchmarks, or your flat rate books.  Take advantage of his experience working with hundreds of companies like yours to help you achieve your own business success. 

Measure Monthly, Adjust Quarterly
 & Achieve Your Annual Profit Goals


The Economy

Office Depot is sponsoring a webcast on Tuesday, February 2, 2010.  The webcast is titled "10 Marketing Ideas for Under $100."  This free 60 minute webcast will address low cost methods for keeping your company visible to your customers.

The President has announced a plan to offer $5,000 tax credit for new hires.  If this is implemented, it could help offset a small part the initial cost for growing your business.

Industry suppliers continue to announce price increases for a broad range of product lines.  Latest increases we have seen range from five to nine percent.


 

Click Here to Crunch your Numbers Today!

 


Interesting Online Items

Member Freed with Industrial Grinder

Duct Sealing Video

Paying for Solar

Water Heater Rocket

YouTube Egg Timer


Call 800 841-8542 today
to learn about our
easy, subscription plans for NSPG software products.

In This Issue

Click here for your Free Book!

Call 800 841-8542 today
to learn about our affordable, subscription plans for NSPG software.

Freebie of
the Month

The freebie of the month is a web site or product that we feel gives you something worth looking at or using that costs you little or nothing.

Every month we highlight a free service or software that we feel offers real value for our readers.  For some people, finding and installing these free programs can be a real hassle.  Ninite makes it easy to find and download dozens of free software applications.

Ninite is a Web site that combines applications into a single installer for you to download. Just pick the apps you want, and Ninite creates a custom installer that you download and run. Ninite does all the work during the installation, so you don't need to make any decisions.

Our tests show that Ninite is quick and reliable, but does not always install the latest versions of the software you choose.  Since most  of the software packages automatically check for updates, this is not really a problem.  Ninite can be a real time saver.

If you have a favorite Free site, let us know.
nspginfo@nspgweb.com

 

Quotations

I believe that banking institutions are more dangerous to our liberties than standing armies.
           Thomas Jefferson

All you need in this life is ignorance and confidence; then success is sure.         Mark Twain

The only thing that overcomes hard luck is hard work.   Harry Golden

I used to work in a fire hydrant factory. You couldn't park anywhere near the place.
               Steven Wright

Write a wise saying and your name will live forever.         Anonymous

About the time we think we can make ends meet, somebody moves the ends.       Herbert Hoover

Experience is the name everyone gives to their mistakes.      Oscar Wilde

I am a kind of paranoiac in reverse. I suspect people of plotting to make me happy.
                J. D. Salinger

 


Phone 800 841-8542

How's Business?

Nexstar members answer that question two ways:

  1. Better
  2. Easier

Our members have been through the ups and downs and faced the same business issues you're encountering. By joining together in Nexstar's "best practices" organization, they now share, learn, explore and grow - and their business is on a steady upswing - with more time to swing the clubs.

Real contractors. Real results.

Others make similar claims. Here's the difference: Members. They own Nexstar. We talk, build a knowledge base of what works and doesn't work, cut out the pitchmen and consult with the real deal experts in fields that matter to members. No gimmicks. No "pre-fab" systems. And no policy requirements that commit you long term. We know your world and speak your language because our members are your peers.

1-888-609-5490 Connects you to a huge pool of knowledge and experience.
Just call with your questions. No obligation. No pitch. Just answers.

NEW! FREE on-line business assessment. Discover business areas that you need to improve to make your business better.

 

Click a product for more information:

Numbers Cruncher - Breakeven Calculator, Performance Monitor

National Standard Price Guide - Flat Rate Price Books

Performance Dispatch Plus - Dispatch, Benchmarks, Flat Rate, Invoice, QuickBooks



Call 1-800-841-8542


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Ever Wonder

Where Did the Money Go?

    

HVAC Service Invoice                      Portable Desk for forms and invoices
 

    

Call 800-841-8542 now so we can answer your questions and show how we can help you build a more profitable business.

NSPG, Inc. PO Box 1168, Manahawkin, NJ 08050
800-841-8542
201-767-5520

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