Contractor U: Do you have a vision and a plan?
I recommend that renovation contractors have a Three Year Plan. Three years is a good timeframe as it is close enough that it is motivating, yet far enough out that you have time to reach your vision.
By Mike Draper
Do you have a vision and a plan?
The vision of where you want to go doesn’t have to be complicated. Simply write down where you want your business to be three years from now. Three yearsis a good timeframe as it is close enough that it is motivating and you can clearly see what is realistic. It is also far enough out that you have time to reach your vision. Once this goal has been established, it is time to look at what it will take to get there. If you can’t plan for it on paper, there is no way you will figure it out as you go.
Your vision statement has to answer some basic, but very important questions:
1. What customers do we serve? Who is our target market? Hint: the narrower your target market the better. You can’t be all things to all people.
2. What do we do for those customers?
3. How do we serve those customers? What technology, systems and processes do we use that ensure customer satisfaction?
4. What makes us unique? This is a tough question for most renovation contractors. Everybody says things like: good quality workmanship, good service, trustworthy, has been in business for many years, is family owned, etc. Those things are all great, but we are looking for what sets you apart here. What really makes you different from other contractors?
Mike Draper is a contractor business coach for Renovantage (www.renovantage.com) and a frequent contributor to Canadian Contractor.