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The Disciplined Restorer - Attributes of Superior Restoration Contractors

Learn the top ten attributes of superior restoration contractors and how they achieve superior financial performance, hire and develop disciplined people, create opportunities for employees to grow, and maintain a disciplined approach to business planning, decision making, execution, and information processing.

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The Disciplined Restorer - Attributes of Superior Restoration Contractors

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  1. The Disciplined RestorerThe Top Ten Attributes of Superior Restoration Contractors Timothy E. Hull, CR May 21, 2019

  2. Superior Financial Performance • Pre-tax net profits 15-20%2017 industry average = 12.4% • Current ratios > 4:1 • Accounts Receivable turns < 30 days • Equity positions = exponentially > debt SUPERIOR RATING SUPERIOR RATING SUPERIOR RATING

  3. The Proof Good to Great Jim Collins, Author

  4. The Disciplined Restorer… • Hires disciplined people • Systematically creates opportunities for employees to grow with the company • Is intolerant of poor and/or underperforming behavior Disciplined People

  5. Hiring Disciplined People • Use active recruiting strategies • Look for the employed • Hire green and train • Use core values as the measuring stick

  6. Opportunities for Employees • Create career paths for rising stars • Consider your ladder • Use annual performance evaluations • Use written professional development plans

  7. Poor Performance Intolerance • Encourage the peer police • Manage healthy levels of conflict • Model the way

  8. The Disciplined Restorer… • Creates detailed, yearlybusiness plans • Conducts regular andproductive meetings • Specializes by sticking tocore strengths • Engages in due diligence processing before making decisions Disciplined Thoughts

  9. Business Planning • Clearly define the vision • Establish yearly measurable objectives • Seek input and feedback at every level • Track progress and adjust accordingly • Celebrate the wins

  10. Productive Meetings • Make meetings a priority • Use agendas • Engage participants • Promote healthy conflict • Stick to a schedule • Daily huddles, weekly production meetings, monthly management meetings, quarterly strategic meetings

  11. Specialization and Core Strengths • Learn to say No • Know what you are good at • Establish a niche • Pair services with market opportunities • Promote the brand

  12. Decision Making • Make decisions based on information • Use the “40/70” rule • Perform cost/benefit analysis • Consider unintended consequences

  13. The Disciplined Restorer… • Executes intensely on the business plan • Uses the right tools for the job • Processes and analyzes information religiously Disciplined Actions

  14. Execution • Make methodical decisions • Take deliberate actions • Stick to the plan • Promote a culture of excellence • And …

  15. Right Tools • Don’t chase shiny new objects • Focus on the fundamentals • Ensure the ROI is large and sustainable • Eliminate waste

  16. Processing Information • Seek the right information • Dedicate management resources • Utilize databases, CRM systems, and mobile technologies • Establish reporting schedules • Make sure information is timely and accurate

  17. The Disciplined Restorer… The Result

  18. If you can keep your head when all about you Are losing theirs and blaming it on you, If you can dream – and not make dreams your master; If you can think – and not make thoughts your aim; If you can meet with Triumph and Disaster And treat those two impostors just the same; If you can talk with crowds and keep your virtue, Or walk with Kings – nor lose the common touch, If neither foes nor loving friends can hurt you, If all men count with you, but none too much; If you can fill the unforgiving minute With sixty seconds worth of distance run, Yours is the Earth and everything that’s in it, And – which is more – you’ll be a Man, my son! IF … Joseph Rudyard Kipling 1865-1936

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