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Some Of Our Plumbing Contractor Clients Ask Us – Why some of their competitors appear to make a lot more money than they do when they are both doing similar work? We have many tools in our consulting tool box to help them operate and grow their Plumbing
Company to a manageable and sustainable level which can generate enough cash flow and wealth to feed themselves and their loved ones for a lifetime and beyond by establishing a “Process Driven Not People Driven” Plumbing Company.
Here Are The Top Five Secrets – We used in our plumbing Contractor Company and other Plumbing Companies in the past and they are some of the same ones we observe other successful Plumbing Company Owners doing now that keep them in the top 20% of the income producers earning at least $100,000 net income personally; which we consider a good start.
Secret #1 They Know What They Want
Going For A Drive On A Warm Sunny Day – With no particular destination in mind can be relaxing and open yourself up to discovering new sights and sounds and perhaps you will even meet some new friends along the way. However, that is no way to operate and grow your Plumbing Company.
They Develop The Habit Of Regularly Investing Time And Energy – Really thinking deeply about the vision of what their Plumbing Company will become when it is mature and generating a passive income without their day-to-day involvement. They write it down on a piece of paper, by hand, in cursive and put into one of their many three ring binders which are stored somewhere they can review it when they want; which is at least once a week. They live that vision in their mind as a never-ending story that is constantly changing and improving and subsequently updated on paper. Lastly they share it with the members of their Master Mind group made up of people who are developing their own Construction Companies who support each other in their quests for greatness.
There Is A Reason Why I Suggest Handwriting In Cursive – It is has to do with subconscious awareness and how the brain and nerve cells work together. In a neural circuit, the activity of one cell directly influences many others. I have a way of explaining this in great depth to our Plumbing Contractor and other Construction Company consulting clients who express an interest in it. You can research it in depth for yourself at your leisure; for now it is sufficient to say pushing keys on a keyboard will not have the same effect and in all cases that I am aware of no Plumbing Contractor has achieved the results I have described by banging away on a keyboard like I am doing now. Once you have your vision a prisoner on paper then typing into a word document and storing it electronically makes sense.
Secret #2 They Plan Their Work And Work Their Plan
Sounds Simple And It Is – The overall strategy is to develop a formal documented Business Process Management (BPM) System.
To begin with I suggest you purchase a Business Planning Software to help guide you through the process. We recommend handwriting it and putting the pages into a three ring binder then keying it into the software. We are partial to Palo Alto business planning software; however, whichever one works best for you is the one you should use.
Developing A Business Plan Is A Lot Of Work – There is a system for everything and once you know the answers the questions will not bother you. As Plumbing Contractors hard work is no stranger to you so you will do just fine. The training you will receive in developing and maintaining your Plumbing Company business plan will establish good habits and develop your critical thinking capabilities which will pay dividends far into the future. Making money is easy, learning how to build, maintain and grow a financial estate that generates a “Passive Income” is the really hard part.
Secret #3 Bread For The Head
The Top 20% Of Plumbing Contractors – Feed their minds and most of them have a library card, yes in this day and age they have a library card. They read good books on a wide variety of subjects, biographies of successful people, books about art and science, social issues, philosophy and other subjects. Get a library card and visit your local library at least twice a year. To get you started here are a few of the books this group reads and re-reads regularly:
· Basic Instructions Before Leaving Earth
· Atlas Shrugged
· Think And Grow Rich
· The E-Myth
· Who Says Elephants Can’t Dance
· Get Better or Get Beaten
· Jack – Straight From The Gut
· First, Break All The Rules
· Good to Great
· Inside The Magic Kingdom
· McDonalds – Behind the Arches
· How to Make Your Business Run Without You!
· Raving Fans
· The Seven Habits of Highly Effective People
· The Richest Man in Babylon
Secret #4 They Understand Leveling
They Invest Time With The Right People – Those who will support them and whom they can support. Read more about this concept in Think And Grow Rich, By Napoleon Hill and pay close attention to the discussion regarding the “Master Mind Group”. Be careful that term has been hi-jacked and there are many jolly jokers out there putting together so called “Master Mind Groups”. Study Napoleon Hill’s Book Think And Grow Rich and you will know the right group when you find it.
Secret #5 Their Plumbing Company Is Built Like A Parthenon
Their Plumbing Company Is Supported – With the pillars of Marketing, Accounting And Production (M.A.P.) processes wrapped inside their Strategic Business System; because they understand the true meaning behind the phrase “The System Is The Solution”.
Unsuccessful Plumbing Contractors – Build their business on a diving board and will crack wise with things like “Systems? Processes? Business Plans? Are you crazy? Who has time for that stuff? Our plan is simple we plan to make a lot of money!” This always reminds me of the maxim “Leverage Is Great….Until The Stick Breaks!
These Are Some Of The Threads Of Success – Weaved into the “Fabric Of Success” for some of the successful Plumbing Contractors that I have been privileged to know and help support. I trust you will find value in these words and apply the maxim I heard from a sales trainer whom I respect “What makes knowledge valuable? Use of knowledge” – Les Giblin.
One Final Hint – They make most of their wealth with strategy while working in their offices; not in the field using better tactics, working harder, faster and longer than their competition.
I leave you with this heartfelt blessing – “May your opportunities always be a tiny bit bigger than your abilities which will cause you to grow to Be greater than you ever thought possible and generate ever increasing good for you, your loved ones and the world.”
Randal L. DeHart, PMP, QPA