It’s the goal that many people who grind away at their 9-to-5 job spend their hours daydreaming about: owning a business.
But as you, the owner of a plumbing service company, now know, life isn’t all sunshine and rainbows on the other side of things. Instead, the truth is that when you start a company, you’re always going to want to experience growth.
If your company doesn’t experience that growth, then as it stagnates it will become less and less lucrative and fulfilling for you to own.
If you’re stuck in the doldrums of a plumbing service company that is just mediocre, then you’re in the right place.
In this article, we’ll give you a few concrete strategies that you can start implementing today. These will help take your fledgling business from good to great.
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Serve Industrial Customers
One of the best ways to grow your plumbing business is to take your customers to the next level.
When you started out, chances are that you aimed your services very squarely at the residential market. After all, it makes sense. Residential jobs are easier and cost less, making them a much easier sell for someone who doesn’t have a whole lot of credibility with a new company.
However, another side to the residential business is that it isn’t as lucrative. Because the jobs are so small and don’t make a lot of money, chances are that in the long-term you’re going to have hundreds, if not thousands, of customers for you to turn the kind of profit that you really want to see.
Industrial companies, on the other hand, are able to sign much, much larger contracts. In addition, it’s not uncommon for you to be able to get away with a higher profit margin when selling to a company instead of to a person.
Why is this the case? The answer lies in simple human psychology.
Think about when someone is signing a contract spending their company’s money. They are far less likely to be miserly than when they are signing a contract spending their own money.
Consequently, you’re able to charge higher prices that are more in line with the quality of service that you offer.
Use the credibility that you have gained from doing residential work and pitch your services to industrial clients.
Get in touch with real estate developers if you want the big jobs, or get in touch with facilities and maintenance branches of existing buildings for some easier, smaller prey.
Upgrade Your Technology
Another way to take your plumbing business to the next level is to upgrade the level of the service that you provide. One of the best ways to do exactly that is to upgrade the technology that you work with.
The digital, modern world that we live in today means one thing for all businesses: continual technological advancement.
There is a good chance that something revolutionary could come out in the plumbing industry every other year just because of how quickly people are able to innovate on existing tech.
Take, for instance, envirosight sewer cameras. These cameras promise massive productivity gains for your business, as they free up your employees to quickly and easily get a good idea of the state of affairs in a given sewage system without having to delve too deep in there themselves.
Not only is this a quicker, more efficient process, but also a more attractive one.
There is a myriad of different plumbing technologies on the market today for you to choose from. When choosing, it’s important to remember that you need to balance the cost with ROI.
Always look at the return on investment that the specific product is going to give you. You should be able to quantify the time, efficiency, or credibility gain that you will realize from using the product before you consider buying it.
Only then can you make sure that every purchase you make will result in profit and growth for your company.
Hire Better Workers
One of the big determinants of the quality of service that you provide to your customers is of course the quality of the workers you are performing the service. If you have a larger-scale operation with multiple employees, then it can be difficult to keep the quality of the folks that you are hiring at the ideal level.
But here’s the thing: your workers are representative of your brand. The way they do the work, interact with customers, quote prices on contracts, etc. are all ways that they represent your brand.
If your workers aren’t up to snuff and are doing shoddy work, being rude to customers, or being dishonest with money, then the simple fact of the matter is that your brand isn’t going to survive the negative image given off by those workers.
That’s why it’s so crucial that you take the time and effort to thoroughly vet any candidates that you hire at your plumbing service company. At the end of the day, it’s very hard to return from a spoiled company culture since it means firing all the people who have turned the culture bad.
One of the best ways to ensure that you’re getting the cream of the crop is to focus most of your hiring on referrals from your existing employees. If you have a good employee, then chances are that he or she will refer someone to you who is also a good employee. Like associates with like.
Take Your Plumbing Service Company from Good to Great
There you have it. With this guide under your belt, you should now have a far better idea of what you need to do in order to take your plumbing service company from good to great.
These are strategies that you can put into place today. There’s nothing holding you back from going and pitching your first industrial client, buying new tech, or replacing a shoddy worker!
For more business advice, check out the rest of the articles on the website before you leave!