The HVAC industry, and in particular the replacement sector, is attractive to private equity investors because of its exposure to a large base of installed equipment that requires regular service and, ultimately, replacement. The critical nature of HVAC equipment for ensuring comfort means that customers tend to place the most emphasis on service responsiveness and equipment quality, in addition to price and other considerations.
Vision, commitment, consistency, integrity, contribution — these are some of the many values that great leaders hold in the highest regard. Leadership is the “it factor” in any business, especially within an industry that contains a multitude of sources of proven business processes.
At Welsch Heating & Cooling Inc., we are far from perfect at accumulating this information. We have very little success getting our salesforce to find out why a particular customer called us. However, our sales coordinator does a good job of obtaining that information as the calls come in.
What happens when you have hired all the people you know and are still in need of more? Too many times in business, we are extremely busy and in need of people because the demand is bigger than the supply of good people.
When you sell premium comfort, your customers are happier and you make more money. One reason profits soar is because it takes the same overhead to install amazing comfort as it does basic heating and cooling.
I am certain, however, about one thing: the importance of growth. To me, the contrast between growth and the alternative has sharpened, and in this area, I feel blessed with clarity.
You can get good at something just by working hard at it. If you’ve got some talent at it and you work hard, you can get really good. But excellence, peak performance, being the best you can be at something — that doesn’t happen without a coach.