Foundations for a Successful Business 10 Characteristics shared by successful restorationcompanies

1. Foundations for a Successful Business10 Characteristics shared by successful restorationcompanies Phillip Rosebrook, CR Business Mentors

2. "Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” ~ Sun Tzu • “Your business is your fault – good or bad.” ~ Larry Janesky

3. Foundations "If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.”~ Henry David Thoreau Every moment of every day, you succeed at creating the reality in which you live. Choose now to use that power in a positive, meaningful, fulfilling way. ~ Ralph Marston

4. Measuring Success? Employees Equipment Building Size Volume Quantum Restoration

5. Success • Your Thoughts… • "Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minute should be enjoyed and savored.” ~ Earl Nightingale
 1921-1989, Radio Announcer, Author and Speaker • Having a choice • A resource for you and stakeholders

6. Blueprint for Success

7. Rules • Balance • Strategic Planning • Team • Commit to action • Vision and Passion • Communication

8. Focus on Service "The people who receive the most are the ones who give the most. This is true of individuals, but also for businesses. If the focus is on how can we give the absolute best service, then the profits will follow. If a company is only focused on profits, they miss the big picture and will always be scurrying for business instead of having clients chasing them." ~ Susan Bagyura
 Author The Visionary Leader: How To Inspire Success From The Top Down

9. Exceptional Service • Training • Orientation • Reinforcement • Company culture • Communication systems • Intolerance for poor service

10. Service Steps • Identify training resources • Measure results • Reinforcement • Celebration • Communication

11. Profit Long term success is the result of ethical profits Profits are the result of achieved strategy

12. Profit • Improve Gross profit • Budget • Work mix • Clients • Managing slippage • Budgeting • Controlled discretionary • Managing your plan • Compensation plans

13. Happy Employees People don’t get burned out in their jobs, they get burned out by the atmosphere in which they have to work. Leadership is about creating the right atmosphere. • Discretionary effort • Teamwork • Synergy

14. Developing Your Team • Recognition & appreciation • Timely performance feedback • Education Opportunities • Understanding company vision & goals • Fair compensation

15. Creating Happy Employees • Life opportunities • Family atmosphere • Have Fun • Belonging • Part of company that is a good citizen • Listened to • High performance standards

16. Quality Work • Culture of exceeding expectations • Timely work completion • Would you allow in your home? • Inspect frequently • Different clients, different expectations \

17. Proactive Marketing • “Revenue solves a lot of problems” • To prevent peaks and valley’s market when you are busy • Plan, reward, celebrate • Team approach • Goal driven • Results focused

18. Timely Measurements • Monthly financials • Job costing • Sales tracking • Cash • Customer service • Project tracking

19. Proactive Plan • Goals • Capital Budget • Strategic plan • Marketing plan • Personnel plan • Training • SWOT

20. Cash • Strong cash flow is a result of good business practices • All other components of the success model need to support cash flow • Profits do not equal cash • Your company future rests in your ability to generate cash

21. Impacting Cash • Turns on receivable less than 50 days • Tie incentive to collection • Incentive for admin staff • Financing to cover float • Deposits and progress payments • Timely invoicing • Cash projections • Proactive purchasing

22. Foundation Building "Small deeds done are better than great deeds planned.” ~ Peter Marshall
 1902-1949, Clergyman • Business retreat • Get your numbers in order • Balanced growth • Skill development • Team involvement • Accountability • Internal communication

23. Vision "The most pathetic person in the world is someone who has sight, but has no vision." ~ Helen Keller • What do you want to be when you grow up? • People want to be a part of something bigger than their own position • Overcome self limitations and comfort zones • Balance and foundation – then grow!

24. Priorities "Life is too short to waste. Dreams are fulfilled only through action, not through endless planning to take action.” ~ David J. Schwartz
 Trainer and Author • What are you working for • Managing risk • Provide opportunity

25. A Dynamic Approach • Business world is changing • Restoration is accelerating • You need quarterly assessments of your plan and annual strategy • Don’t be afraid to implement – but quick to assess and adjust if necessary

26. Questions? Presentation available at www.businessmentors.net

27. www.businessmentors.net Phillip@businessmentors.net