contractor’s survival guide boot camp © 2010 jason reid

Contractor’s Survival GuideBoot Camp

© 2010 Jason Reid

Contractor’s Survival Guide | Boot Camp

9:30 am - 10:00 am9:30 am - 10:00 am Introduction and Overview

10:00 am - 11:00 am10:00 am - 11:00 am Branding / Marketing

11:00 am - 12:00 pm11:00 am - 12:00 pm Sales in a Challenging Market

12:00 pm - 12:30 pm12:00 pm - 12:30 pm The New Age of Customer Service

12:30 pm - 1:30 pm 12:30 pm - 1:30 pm Lunch

1:30 pm - 2:30 pm 1:30 pm - 2:30 pm Employees – Can’t Live With Them…

2:30 pm - 3:00 pm 2:30 pm - 3:00 pm Business Intel / Advisory Team

3:00 pm - 3:45 pm 3:00 pm - 3:45 pm Expenses / Business Planning / You

3:45 pm - 4:00 pm 3:45 pm - 4:00 pm Questions

ScheduleSchedule

© 2010 Jason Reid


College Works PaintingCollege Works Painting

- Residential Exterior House Painting

- 19 Markets

- 2500+ Employees at peak of season

- 12,000+ Houses painted in 10 weeks of the summer

National Services GroupNational Services GroupEmpire Community Empire Community

PaintingPainting

- Multi Family, Commercial, Full Service Painting Company

- Serving California, Arizona, Nevada

- 300+ Full Time Employees

© 2010 Jason Reid


Partner at Platinum Partner at Platinum Capital GroupCapital Group – Mortgage Company – Inc 500 Top 10 company

Partner in Multiple Start-UpsPartner in Multiple Start-Ups- Codeit – Software - Mold Avenger - Green Products- New Image - Home Depot Partner Company- Ambassador Energy – Green Energy company- Others that I would like to forget

Member of Vistage / YPO / YEOMember of Vistage / YPO / YEO- 16 years of meeting with CEO’s of companies- Advisory Board Capacity for 40+ companies over the

years

Other Business ExperienceOther Business Experience

© 2010 Jason Reid


BasicsBasics - Scraped by in High School

- College drop out

- Started painting at 16 in Quebec for a Union

- Painted in college for $6/hour

- Fled to California 22 years ago with $50 and the promise of

a job

- Married 16 years

- Four kids ages 13, 10, 8, 5

- One foreign exchange student

PersonalPersonalLast Eight YearsLast Eight Years

- Black Belt

- Ironman Finisher

- 8 Ironman Races

- Guitar

- Climbed Mount Hood

- Author

© 2010 Jason Reid


Why Did You Go Into Business?Why Did You Go Into Business?

© 2010 Jason Reid


Job for yourselfJob for yourself

Lifestyle BusinessLifestyle Business

Statewide CompanyStatewide Company

National CompanyNational Company

What Do You Want?What Do You Want?

© 2010 Jason Reid


Robert Frost

By working faithfully eight hours a day you may

eventually get to be boss and work twelve hours a day.

© 2010 Jason Reid


The BadThe Bad

- Overnight Success = 15 years

- You might go broke

- You are The One

- 16 Hour days

ExpectationsExpectationsThe GoodThe Good

- Profit

- Freedom

- The buck stops here

- Lifestyle

© 2010 Jason Reid


The Tools that got you here The Tools that got you here are not the tools that will get are not the tools that will get you where you want to go.you where you want to go.

© 2010 Jason Reid


You can’t be all things to all people. You can’t be all things to all people.

The Importance Of FocusThe Importance Of Focus

© 2010 Jason Reid


What is your niche?What is your niche?

What do you not want to do?What do you not want to do?

What geographic area do you What geographic area do you operate in? operate in?

FocusFocus

© 2010 Jason Reid


The best job you ever got was the The best job you ever got was the one you turned down.one you turned down.

SometimesSometimes

© 2010 Jason Reid


Just the BasicsJust the Basics

Branding and MarketingBranding and Marketing

© 2010 Jason Reid


Who Are You?Who Are You?

BrandingBranding

© 2010 Jason Reid


What is important to your What is important to your customers?customers?

What can your customers What can your customers expect from you?expect from you?

What do you want to be known for?What do you want to be known for?

© 2010 Jason Reid


Tag LinesTag Lines

All the news that’s fit to print

© 2010 Jason Reid


Tag LinesTag Lines

Have It Your Way

© 2010 Jason Reid


Tag LinesTag Lines

The Quicker Picker Upper

© 2010 Jason Reid


Tag LinesTag Lines

The Company That’s Easy to Do Business With

© 2010 Jason Reid


Tag LinesTag Lines

When It Absolutely Positively Has to Be There Overnight

© 2010 Jason Reid


Tag LinesTag Lines

Professional Services Committed to Building Your Future Today!

© 2010 Jason Reid


Who are you?Who are you?

Why should people buy from Why should people buy from you?you?

ExerciseExercise

© 2010 Jason Reid


The Easy StuffThe Easy Stuff

MarketingMarketing

© 2010 Jason Reid


The Easy ButtonThe Easy Button

- Business cards

- 8 ½ X 11 Flyer

- Lawn signs

- Ads in local papers

-Referrals

-Your Website

CautionCaution

- Yellow Pages

- Val Pack

- Radio

- TV

© 2010 Jason Reid


Costs per leadCosts per lead

Cost per jobCost per job

Track Everything!Track Everything!

© 2010 Jason Reid


Marketing effort cost in dollarsMarketing effort cost in dollars

÷Number of leadsNumber of leads

_______________________________________________

COST PER LEADCOST PER LEAD

What Does a Lead Cost You?What Does a Lead Cost You?

© 2010 Jason Reid


Number of leads per estimate doneNumber of leads per estimate done

XNumber of estimates per job bookedNumber of estimates per job booked

X Cost per leadCost per lead

_______________________________________________

MARKETING COST PER JOBMARKETING COST PER JOB

What Does a Job Cost You?What Does a Job Cost You?

© 2010 Jason Reid


Test Everything!Test Everything!

© 2010 Jason Reid


- Craig's List Posting- Craig's List Posting- Facebook Fan Page- Facebook Fan Page- Your Website- Your Website- Internet Lead Providers- Internet Lead Providers

- Service Magic- Reliable Remodeler- Multiple Others

Today’s Marketing Today’s Marketing

© 2010 Jason Reid


- Largest growing demographic is women over 30 - Largest growing demographic is women over 30 years of ageyears of age-It is a communication toolIt is a communication tool-Imagine each person with 150 friends.Imagine each person with 150 friends.-Yes their neighbors are their friendsYes their neighbors are their friends-People read every post.People read every post.

FaceBookFaceBook

© 2010 Jason Reid


- They sell them 3 to 5 times- They sell them 3 to 5 times- If you are not first you are last- If you are not first you are last- Text leads to your phone, email - Text leads to your phone, email - No one knows you- No one knows you- It’s a race so set the appointment- It’s a race so set the appointment- They would not have called if they did not want to - They would not have called if they did not want to buy!buy!

Maximizing Internet LeadsMaximizing Internet Leads

© 2010 Jason Reid

Contractor’s Survival Guide | Boot CampIn modern business it is not the crook who is to be feared most, it is the honest man who doesn't know what he is doing.

William William WordsworthWordsworth

© 2010 Jason Reid


You Will Need to Get a JobYou Will Need to Get a Job

Without a Marketing ModelWithout a Marketing Model

© 2010 Jason Reid


Boost Your Closing Rate by 25%Boost Your Closing Rate by 25%

Sales in a Challenging MarketSales in a Challenging Market

© 2010 Jason Reid


Catch a man a fish, and you can sell it to him. Teach a man

to fish, and you ruin a wonderful business

opportunity.

Karl MarxKarl Marx

© 2010 Jason Reid


YouYou

Your VehicleYour Vehicle

Your AttitudeYour Attitude

First ImpressionsFirst Impressions

© 2010 Jason Reid


Why do people buy?Why do people buy?

© 2010 Jason Reid


- Price- Price

- Options- Options

- Competence- Competence

- Connection- Connection

- Safety – Their Own- Safety – Their Own

Why Do People Buy?Why Do People Buy?

© 2010 Jason Reid


- Options Options Options- Options Options Options

- Green Green Green- Green Green Green

- Something Different from your competition- Something Different from your competition

- Suppliers are a great resource for new products- Suppliers are a great resource for new products

Recessionary StrategiesRecessionary Strategies

© 2010 Jason Reid


- Your Reference Book- Your Reference Book

- Listen twice as much as you talk- Listen twice as much as you talk

- Understand objections- Understand objections

- Practice - Practice

- Say the same thing every time- Say the same thing every time

- Ask for the job- Ask for the job

Sales BasicsSales Basics

© 2010 Jason Reid


Sales PeopleSales People

© 2010 Jason Reid


- You must be the best sales person- You must be the best sales person

- System that you can teach- System that you can teach

- Estimating if part of the role- Estimating if part of the role

- Sales Process- Sales Process

- Prepared to commit time and dollars- Prepared to commit time and dollars

Before you even think of itBefore you even think of it

© 2010 Jason Reid


- They can’t do it on their own- They can’t do it on their own

- Sales people are pack animals- Sales people are pack animals

- You are the leader- You are the leader

- Whatever you trained last month will eventually - Whatever you trained last month will eventually be overcome by free willbe overcome by free will

Sales Training / ManagementSales Training / Management

© 2010 Jason Reid


ScriptScript

TrainTrain

Role PlayRole Play

WatchWatch

RepeatRepeat

The Basic PlanThe Basic Plan

© 2010 Jason Reid


The customer is always right.The customer is always right.

The New Age Of Customer The New Age Of Customer ServiceService

© 2010 Jason Reid


Even the crazy ones are now rightEven the crazy ones are now right


© 2010 Jason Reid


In the old days who were they going In the old days who were they going to tell?to tell?

Who would listen to them?Who would listen to them?


© 2010 Jason Reid


RipOffReport.comRipOffReport.com

AngiesList.comAngiesList.com

The Internet changed The Internet changed everythingeverything

© 2010 Jason Reid


The Story of CWPThe Story of CWP

Learning the hard wayLearning the hard way

© 2010 Jason Reid


Can't Live With Them...Can't Live With Them...

EmployeesEmployees

© 2010 Jason Reid


F players (5%) F players (5%) No interest in a job

D players (10%)D players (10%) Will work if they need money and have to

C players (20%)C players (20%) The bare minimum, always stealing time

B players (30%)B players (30%) Will get the job done with supervision

A players (25%) A players (25%) Able to work independently and solve problems

A+ players (7%)A+ players (7%)Able to run the business while you are on vacation

A++ players (3%)A++ players (3%)You – I hope!

Needles in a Hay StackNeedles in a Hay Stack

© 2010 Jason Reid


Recruiting vs. HiringRecruiting vs. Hiring

© 2010 Jason Reid


- Your Favorite Sports Teams Do It- Your Favorite Sports Teams Do It- Keep Your Roster- Keep Your Roster

- Timing is Everything- Timing is Everything

RecruitingRecruiting

© 2010 Jason Reid


AAlwayslways B Bee R Recruitingecruiting

ABRABR

© 2010 Jason Reid


Your Draft PicksYour Draft Picks

ExerciseExercise

© 2010 Jason Reid


NetworkingNetworking- Family Friends Trap

AdsAds- Local papers- Craig’s List

- Other

Hiring BasicsHiring Basics

© 2010 Jason Reid


- Phone Interview- Phone Interview- Interview- Interview

- Check References- Check References- Gut Check- Gut Check- Trial Period- Trial Period

- Gut Check Two- Gut Check Two

Hiring ProcessHiring Process

© 2010 Jason Reid


Why should anyone work for you?Why should anyone work for you?

Your Hiring Sales PitchYour Hiring Sales Pitch

© 2010 Jason Reid


- Training- Training- Accountability- Accountability

- Budgets- Budgets- Review- Review- Repeat- Repeat

Getting The Job DoneGetting The Job Done

© 2010 Jason Reid


Why People do what they doWhy People do what they doMoney ?Money ?

Job Satisfaction ?Job Satisfaction ?Responsibility ?Responsibility ?

Personal Growth ?Personal Growth ?

MotivationMotivation

© 2010 Jason Reid


Getting the most out of people Getting the most out of people means understanding what means understanding what

they truly desire and helping they truly desire and helping them achieve it.them achieve it.

© 2010 Jason Reid


- Who they are- Who they are- Who works there- Who works there- Their sweet spot- Their sweet spot

- How they bid against you- How they bid against you- Why people buy from them- Why people buy from them

CompetitionCompetition

© 2010 Jason Reid


- Surrounding yourself with the right - Surrounding yourself with the right peoplepeople

- CPA, Lawyer, Banker- CPA, Lawyer, Banker- Business Owners- Business Owners

-Strategic RelationshipsStrategic Relationships

Building your Advisory TeamBuilding your Advisory Team

© 2010 Jason Reid


Chamber of CommerceChamber of CommerceBusiness Networking GroupsBusiness Networking Groups

ScoreScoreTrade organizationsTrade organizations

Search out and joinSearch out and join

© 2010 Jason Reid


- Office?- Office?- Staff – Overhead- Staff – Overhead- Expense creep- Expense creep

- Virtualize- Virtualize- Get by with what you have- Get by with what you have

- No new toys- No new toys- Buy Used- Buy Used

- Expectations- Expectations- Materials- Materials

Expense ManagementExpense Management

© 2010 Jason Reid


What do you do?What do you do?Where do you do it?Where do you do it?What is your special sauce?What is your special sauce?What is your marketing plan?What is your marketing plan?How much business will you do and when?How much business will you do and when?What people do you need to make it happen?What people do you need to make it happen?How much cash will it take to achieve your plan?How much cash will it take to achieve your plan?

Business PlanningBusiness Planning

© 2010 Jason Reid


- Many Contractors fail due to poor cash - Many Contractors fail due to poor cash managementmanagement- Manage your receivables- Manage your receivables- Understand your supplier terms- Understand your supplier terms- Big jobs and GC’s will pay very very slow- Big jobs and GC’s will pay very very slow- Lots of work can mean less cash not more- Lots of work can mean less cash not more- You are always last to get paid- You are always last to get paid- You need cash reserves- You need cash reserves

Cash Is KingCash Is King

© 2010 Jason Reid


- Your Role as a Business Owner- Your Role as a Business Owner- Fighting Procrastination- Fighting Procrastination- Activity vs. Progress- Activity vs. Progress- Written Checklist- Written Checklist- Written Goals- Written Goals- Balance- Balance- Learning- Learning- Find a Coach- Find a Coach

YouYou

© 2010 Jason Reid


One WeekOne Week 168 Hours

Average SleepAverage Sleep 56 Hours

RoutineRoutine 21 Hours

WorkWork 50 Hours

Free TimeFree Time41 Hours

ScheduleSchedule

(Laundry, Meals, Driving, etc...)(Laundry, Meals, Driving, etc...)

© 2010 Jason Reid


What do you do?What do you do?

The Average American The Average American Watches 30 hours of TV Every Watches 30 hours of TV Every

WeekWeek

© 2010 Jason Reid

contractor’s survival guide boot camp © 2010 jason reid

Documents

pm employees

jason reid slide

pm lunch

pm questions schedule

pm expenses business

company partner

service painting company

years of meeting