I have been an active member of the Better Business Bureau (BBB) here in St. Louis for more than 30 years. Through that time, I have learned some interesting things I’d like to share, which I believe will be worthwhile to contractors.
Changes in the industry certainly bring challenges. Contractors must be prepared to provide information and answers regarding all of these new and different technologies. But, now comes the important part. It’s absolutely critical that contractors not lose sight of the personal and service portions of their businesses.
In order to keep us competitive in the residential service market, we have continually negotiated a lower wage contract for our service technicians. Unfortunately, we have found that, as of late, this lower wage level has made us susceptible to pirating of our people.
Pricing is definitely a moving target. Make sure the systems you have in place allow you to be flexible and grant you the ability to make changes when equipment, overhead, or any other items change price.
Don’t do like we did and wait for something to happen. Give a little thought to how the business would handle not having any one of its key employees. Quick, do it now, before the next disaster strikes.