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Entrepreneurship

Unbelievable Secret to Skyrocketing Your Sales Revenue! [Video]

Hey there, fellow business owners! If you’re in the game of making moolah, then you know that sales are a crucial part of the hustle. But, did you know that most business owners miss out on loads of opportunities to improve their sales performance just because they don’t measure it? That’s a huge bummer because measuring your sales performance can help you win more jobs and ultimately increase your cash flow!In today’s podcast, we’re gonna dive into why it’s a major no-no to jump straight into customer inquiries, quotes, and bids without taking a step back to assess how well your business is doing at sales. Not doing so can lead to a lot of missed opportunities and lost sales, which is never fun for your bottom line.But don’t worry, we’ve got your back! Throughout this episode, we’ll give you the lowdown on how to measure your sales performance like a pro. We’ll talk about the key metrics you should be tracking, like your lead conversion rates and how long it takes to close a deal. Plus, we’ll show you how to use data to inform your sales strategies, and we’ll even touch on the importance of sales training and coaching.And hey, we’re not all about the numbers and boring stuff. We’ll also throw in some fun and exciting tips on how to inject some personality and creativity into your sales game. Who says sales can’t be fun, right?So, if you’re ready to take your sales performance from mediocre to magnificent, then join us in this podcast. We guarantee you’ll leave with a spring in your step and a plan to crush it in sales!

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Entrepreneurship

Video Marketing: Properly Capture Projects for Company Branding 03_15_23 [Video]

There is only one way to present your image with emotion and passion, and that is through video. People read while hearing their own voice, yet video brings the message to your customers exactly how you want them to hear it. Professional videos are obviously the best choice but videos by smartphone can be quality driven too. Making videos is 50% of the marketing challenge, and how to use them to generate More Quality Leads is the other 50% of the marketing opportunity. Why create videos if no one will find them in the first place? Many fail to use their best clients correctly when it comes to Video Marketing. Here we teach you how to get your best 24×7 salesforce to promote your business.

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Entrepreneurship

501: Key Drivers To Improve Construction Profitability And Cash Flow [Video]

This Podcast Is Episode Number 501, And It’s About Key Drivers To Improve Construction Profitability And Cash Flow Enlightened contractors like you understand the value of developing your own unique Construction Contracting System, a collection of documented repeatable processes and operation manuals. The key is continuously refining your construction company’s practices and procedures. Your office ensures your contracting company has a steady flow of projects. Proper accounting and bookkeeping develop timely financial reports to show which jobs are profitable so you can pursue more. Thus, you can focus more on the following: Acquiring the right clients Doing the project as close to on time and budget as possible Get job deposits and timely progress payments Follow-up with clients to monitor satisfaction and line up new projects Boost profitability by recognizing your key drivers Identifying the key drivers of your business is critical to boosting profitability. A key ‘driver’ significantly impacts your specific construction business’s performance. A whole range of factors can affect the performance of every business. The secret is to focus on a handful of drivers that: Affect the performance of your business significantly Are measurable Can be compared to a benchmark, such as last year’s figures or an industry average Can be acted upon Make use of benchmarking Use past figures as a benchmark for current performance. Figures for last year or last quarter provide hard facts and established patterns that expose potential problems and opportunities. Also, compare your construction business with other similar companies, especially competitors. Your accountant, bank manager, or industry association may be able to supply industry benchmarks. What are some of the key drivers in business? Critical drivers vary from business to business, and in construction businesses, they include: Sales lead in capital goods or service Market share where only the biggest will survive ‘First-time fix’ in a maintenance business Even direct competitors may have different drivers. A prime location is not a key driver for a floor installation business, but it is for a brick-and-mortar competitor that relies on a well-located retail store if they sell hardwood flooring and carpet and provide installation services. Some of the following drivers might be relevant to your business: 1. Converting leads into sales The number of leads (information requests or quotes given) provides early warning of any peaks or downturns in your sales. If you have an established leads-to-sales conversion ratio and know the size of an average sale, you can use the pace of leads to forecast sales. Monitoring sales figures can show: – Which categories of products are selling well – What each salesperson has achieved – If lead conversion rates are improving – Keep your costs under control Maintaining a healthy gross profit margin is critical. If your gross margin percentage is falling, take swift corrective action. The causes could include higher input prices, a changing product mix, production inefficiencies, or excessive discounting. If you run a service business that bills out time, it can be helpful to treat consultants’ salaries as a variable rather than overhead costs because this makes it easier to work out who is making you money. 2. Collecting receivables efficiently Your accounts receivable collection period (the number of days on average to collect customer payments) is an important driver to monitor. Try to improve your past performance and at least match the industry standard. If the standard is 35 days, and you take 45 days on average to receive customer payments, then improve your collection activities immediately. Bill promptly and highlight overdue payments for prompt action. The key is consistency – late payers should know that you’ll unfailingly contact them. 3. Optimal inventory levels Your inventory turnover rate is the ratio of cost-of-sales to inventory. Most businesses aim for a high inventory turnover rate because it indicates an efficient use of capital resources. If the ratio decreases, find out why. For example, you may be overbuying or purchasing inventory you cannot sell. The more you can break down your inventory figures into separate product categories, the easier it will be to pinpoint problems. 4. Hours billed An interior designing firm had a disappointing level of monthly sales for years until the owners realized that hours billed per consultant per week was the key driver. Once they began monitoring this, they could see which consultants were earning the revenue. The firm could then target small and manageable improvements – such as billing 30 minutes more a day each. Attitudes changed overnight, and sales increased significantly. 5. Turning over staff A plumbing company recognized that…

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Entrepreneurship

Keokee Contractor Marketing and PRO – Branding and Website – Integrity Matters [Video]

Contractor Education Series presented by Keokee Contractor Marketing Marketing experts from Keokee Contractor Marketing will challenge you to rethink your approach to marketing your remodeling business by learning the principles that will set you up for long-term success. With the strategies they share you will be able to get ahead of your competitors, command higher prices, and attract your ideal clients. You will learn to apply a holistic approach to marketing that will attract the leads you want and convert them into the clients you dream of.In this session we take a deeper look into the role your brand plays in marketing and why your website should amplify your work and your message. If you don’t get this right, most likely all other marketing assets will be less effective. You will have to battle through the “wrong first impression” cycle. Attendee Bonus: FREE Brand Analysis.Learn more about the presenters from Keokee. This is the second of a five session series.The series is accredited for five (5) PRO CEUs — one (1) each per session.

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Entrepreneurship

The Building BITE: Never Settling [Video]

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Eric Anderton, Executive Coach and host of Podcast, Construction Genius. We begin the episode by discussing Eric’s path to Construction. Beginning his career in sales, Eric eventually connected with a leadership development program before venturing out on his own. While Eric never worked in the industry directly, he felt a connection to the builders and has continued to expand his network within the Construction space. When diving into our topic, Eric gives our listeners three excellent takeaways and best practices when leading a team:1. Never Settle: Like that of a GM in any major sports league, companies must always be looking to develop and improve their team. By never settling, you are constantly looking to help enhance your current team, while always keeping an eye on the market to find opportunities to bring in people who can improve areas of weakness within the firm. 2. Importance of 1-to-1 meetings: If you want to develop your team and improve communication, you MUST have 1 on 1 discussions. Utilizing tactics like setting an agenda and empowering them to bring both challenges they have or ideas to enhance the internal process are key. Eric sets the scene as an oasis of development and conversation for your team, refreshing and encouraging them as they continue their path through the project lifecycle. 3. Incorporate EAR framework every day: You must be able to every day put your arm around your team and encourage them (E) telling them “You can do it”. Additionally, you must look to hold your team accountable (A), and confirm “did you, do it?”. Lastly, you must recognize (R) them, “you did it!”. To learn more about how you can create a leadership culture where you never settle, listen to our full podcast episode with Eric on “Never Settling”Please like, share, and subscribe to this podcast!

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Entrepreneurship

How to start a business-Woman in small business Month [Video]

Tonya Harden co-founder of HE Services sharing tips every Monday during the month of October to Celebrate woman in small business. Ep1. How to start a business. HE Services goal is to “Respond to your needs through the gifts of our experiences”. With the Experiences, Clyde gained while working for GE healthcare for more than 18 years as a consultant, along with Tonya’s administation and planning skills for over 16 years, whilde developing the relationships over the last 11 years of business.This Youtube page is designed to show you how Harden Enterprise Services LLC will respond to your needs through the gift of our experiences through our four different departments. Which are the following: 1. General Contracting- Our Construction Team 2. Business Consultant Team- Where we mentor, network and develop small businesses through our HE business Network department. 3. Department Development – This is where Clyde Harden will come to scale your business and train your employees with policies and procedures. 4. Public Speaking- We create content for Schools, Business, churches, organizations, and much more.

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Entrepreneurship

Running a Media Company at Age 27 [Video]

What the heck does @BuildWitt do? Allow this video to explain. It’s nice to have a marketing/media business at our disposal.I wouldn’t call myself a visibly emotional person, but I teared up watching this video the other day. Years of work, travel and relationship-building have got us here, and the real fun still lies ahead. #business #construction #mediaVideo Production | Photography | Marketing | Web Development | Blue Collar | Branding | Advertising | Videography | Storytelling | Digital Marketing | Dirt World | Website Design | Hiring Ads | Employee BrandingFOLLOW AARON WITT:Instagram: https://www.instagram.com/aaronwitt/LinkedIn: https://www.linkedin.com/in/aaronwitt/Facebook: https://www.facebook.com/aaronwitt/TikTok: https://www.tiktok.com/@aaron_wittFOLLOW AARON’S COMPANY: BUILDWITTWebsite: https://buildwitt.com/BuildWitt Training: https://www.buildwitt.com/software/construction-training-software/Podcast: https://buildwitt.com/dirt-talk/Instagram: https://www.instagram.com/buildwitt/LinkedIn: https://www.linkedin.com/company/buildwittFacebook: https://www.facebook.com/buildwittTikTok: https://www.tiktok.com/@buildwitt

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Entrepreneurship

“Should I Start an Electrical Business with My Boyfriend?” Reddit Response [Video]

Should I start an electrical business? A question we ask ourselves probably more than once! In today’s episode of Electrician U, Dustin answers a question from a follower about starting an electrical business with her boyfriend and gives some pros and cons of owning a business.🤘⚡️MEMBERSHIP⚡️🤘JOIN ELECTRICIAN U – become a member and get:FREE Continuing Education every yearFREE Practice ExamsFREE Monthly Video CoursesFREE Weekly Live Instructor-Led ClassesFREE Monthly Educational NewsletterPremium Members-Only ContentPrivate Discord ChannelMonthly Members-Only Discord ChatsSign up here — https://www.electricianu.com/electrician-u-membership/🎧🎹MUSIC AND VIDEO:🎹🎧https://www.facebook.com/descantmv🎬✍️ART AND ILLUSTRATION:✍️🎬https://www.daverussoart.com Starting a business is a great opportunity but can be fraught with challenges and disappointments. In fact, most businesses fail due to either not having the strength to keep pushing, financial issues, or poor work practices and no one wanted to buy what you were offering. Another reason could be a falling out between people involved in the business. Make sure that the person(s) you are starting a business with have known or been around each other a good amount of time. After the initial good times tend to plateau, those involved in a business need to be able to withstand the bad times that will surely arise. Especially if it is someone you are romantically involved with as the BUSINESS will need to honestly come first and that MAY not bode well for a romantic relationship with a person. There are so many decisions to be made and much (ok, all) of the free time wrapped up in making the business successful, it MAY not leave time enough for a relationship. And what if it doesn’t work out between two people? Who gets what? It can muddy the waters quite a bit, which is not necessarily good for either the business OR the relationship. Relationships aside, there are other considerations to be made when it comes to starting a business. First, understand that your bank account will be on a roller coaster. Money coming in and going out, sometimes not in the best ways! When it comes to finances, you also need to figure out what to charge. You should poll other businesses in your region and find out the going rate at a starting point. You must factor in what your expenses are (trucks, phones, buildings, etc. aren’t free!!) as well as what you want to make. If you are winning all the work you are bidding, chances are, you are not charging enough. On the inverse, if you are winning NONE of the work, chances are you are too high in your pricing. But remember, you are in business to MAKE money, not just lose it! Another point to remember is business credit. Ask local (and national) vendors for lines of credit. This will allow you to build your businesses credit up over time and can eventually lead to cheaper pricing overall if you buy enough volume from a vendor. This is crucial in winning work as the cheaper your expenses are, the less you have to charge, which should result in you winning more work. Money management is very important. For the most part, resist spending money on anything unless it is job specific (and you can charge for it) or its something to benefit the company itself. And even then, scrutinize it carefully and spend only if necessary. Frugality is king! If you weren’t normally going to buy it, then don’t buy it when that large check DOES finally come in! Trust me, that money will have no problems leaving your bank account without you helping it any!! This is especially true in the first year or two when you are trying to grow and nurture your new company. Another good tip is to not hire employees too soon. Wait as long as possible to bring someone else in. Reason being is you are now responsible for their well being and pay. And that money must come from somewhere, that somewhere usually being what you pay yourself as the business owner! So starting a business is definitely challenging, but can also be very rewarding! You are now able to work for something YOU own as opposed to someone else. Just make sure you really know who you are going into business with and have a good plan that considers both good times and bad. Have back up plans in place and watch your spending! We hope this has been insightful into some of the issues regarding starting a business. Is there a topic you would like to see discussed? Leave a comment in the comment section below and let us know. Please continue to follow Dustin and Electrician U as we are constantly adding new content to assist our followers in being the best they can be.#electrician #electrical #electricity #electrical business #electrical business owner #skilled trades #reddit response

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Entrepreneurship

Excavation Business Tips How To Start [Video]

Excavation business tips how to start #heavyequipment #excavation #businessstartup #caterpillar #diesel how to start a business, excavator , construction , how to start an excavating business , excavation business start up , how to start an excavation company , starting excavation business , starting a small excavation business , starting a excavation business , construction management , easy jobs to start your excavation business , #dirtwork #howto #marksdirtworx #excavaiting #dirt #startup check out our merchandise store https://24-7-dirt-worx.myspreadshop.com/

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Entrepreneurship

Tips on Turning Side Work into a Business [Video]

00:00 Intro00:26 Advise on starting a business01:46 Having a shop on your property02:31 Work Truck04:00 Word of mouth05:02 Billing and Accounting05:17 Budgeting06:09 OutroAt what point do you stop working for someone else and take the leap and start your own business? At some point or another, every businessman and businesswoman asks themselves this question. As a successful business owner himself, Dustin with Electrician U provides some insight into this topic.WEBSITE: https://www.electricianu.com/COUPON CODES FOR DECEMBER 2021Use code MEMBER21 to get $1.99 off your 240v or 480v membership this December 2021 onlyUse code HOLIDAY21 to get 10% off anything in the store DECEMBER 2021 only, at https://www.electricianu.com🤘⚡️MEMBERSHIP⚡️🤘https://electricianu.com/electrician-u-membership/👾🤖PRACTICE EXAMS🤖👾https://electricianu.com/product-category/practice-exams/😎👕MERCH👕😎https://electricianu.com/eu-merch/https://www.legendaryworkwear.com📲👥SOCIALS👥📲Instagram – https://www.instagram.com/electrician_uDiscord – https://discord.gg/7ykYfbhFacebook Page – https://www.facebook.com/theelectricianuFacebook Group – https://bit.ly/2tz7eQhTikTok – https://www.tiktok.com/@electricianuReddit- https://www.reddit.com/r/ElectricianU/Twitter – https://www.twitter.com/electrician_uLinkedIn – www.linkedin.com/in/dustinstelzer🎧🎹MUSIC AND VIDEO:🎹🎧https://www.facebook.com/descantmv🎬✍️ART AND ILLUSTRATION:✍️🎬https://www.daverussoart.comThe very first thing you will need is a license! If you are considering owning an electrical business, then a master electrician license is what you should have. Some areas may also require you to have a business license or something similar, but at a minimum a master electrician license is required. If you perform electrical contracting work without a license, you will get into a pretty good amount of trouble, and you DO NOT want to start your journey behind the 8 ball!! Next, you would have to either clear it with your current employer and make sure they are ok with you doing it as you usually would start off slow, on nights and weekends, and your employer may take offense to your being a competitor. Not to say that all employers are like that; some are quite ok with their employees rising through the ranks into entrepreneurship, but some are not. Approach them with the idea that you are not stealing their customers (or employees!) or undermine the company or anything sinister, you simply are looking to better yourself and step out on your own! Heck, they may even be willing to give you some tips and lessons that they learned along the way. You never know until you ask, but just make sure everything with your current boss is on the up and up. A place to work out of is also definitely important as you will have tools, materials, and all the items you will need to use to be a successful business owner. But, when starting out, this can be in your garage, shed in the backyard, sometimes even the pickup truck is what you have access to and will use. As you become more and more successful in business, you will eventually grow out of the garage, but initially save the money for something that needs a financial solution. Speaking of a place to work, you are going to need some type of vehicle to get from your shop to the jobsite to do the work, to the supply houses to get your materials, and even a way to get to the places to BID the work you are intent on doing! A pickup truck or van are usually the go to choices for contractors. However, you don’t want to run out and BUY a brand-new truck/van, but rather wait until you have enough revenue rolling in to justify the purchase. Use what you have when you are first starting out until you can prove that you can do the work, bid the work properly, go through both highs and lows (on the financial end), and that you have enough work on the horizon to be reasonably comfortable. When considering the type of debts that we all must face, try to stay away from the consumer type debt (buying things out of want as opposed to out of need) and think about purchases that will result in a debt you could leverage and make work for you. Dustin tells the example of a bucket truck for work. Yes, it is an expense, but making that purchase would open up a considerably larger quantity of additional work you could do. Makes sense, but do not make those purchases initially but rather after you are on your way to success. Billing and accounting when you are first starting out should be simple. Make yourself a budget and stick to it. There are tons of different software’s available, but something like Excel or a spreadsheet can work reasonably well at the beginning. You just must have a way to track your expenses, billings, etc. You will also need to know how much money you need to bring in to survive and pay your current bills as well as the additional ones you will incur going into business for yourself.