Strategies to Turn Debt Into Prosperity

Mello shares his journey from being $50,000 in debt to building a company worth nearly $200 million, attributing his success to hard work, dedication, and learning from mistakes. He emphasizes the importance of understanding key performance indicators (KPIs) in business, particularly average ticket, conversion rate, booking rate, and cost to acquire a client. He also discusses the significance of creating a positive work environment that encourages employee growth and satisfaction. His approach involves understanding the dreams and goals of his employees and helping them achieve those.

Creating Value to Sell (or Keep) Your Business

As consolidation continues to permeate the home services industry, creating processes that maximize profitability can help business owners attract high-paying buyers or compete with consolidated mega-dealers if they decide not to sell. HVAC business broker Patrick Lange joins the Cracking the Code show to explain the ins and outs of buying, selling and keeping your business. He lays out the most important concepts you need to consider when deciding whether to sell or not, and he names the four most important things you need to do to increase the value of your business when it comes time to sell.

Raising Capital for Your Small Business: Insights from the SEC

Gene Marks chats with Amy Reischauer, the Acting Deputy Director for the Office of the Advocate for Small Business Capital Formation at the U.S. Securities and Exchange Commission (SEC). They discuss the role of the SEC in assisting small businesses seeking investors, the resources provided by the SEC, and the importance of educating business owners about the SEC’s functions. The conversation also touches on the SEC’s mission, its role in finding capital, and how it supports women and minorities in business.

Employee Training During Peak Season

One of the overarching challenges in the summer busy season is that technicians try to work faster, sometimes taking shortcuts in order to get through a higher daily workload. At the same time, technicians are even shorter on time than usual, making it even more difficult to continue a consistent training process that’s crucial to summer success. Dan Clapper of Interplay Learning shares techniques to help you keep the right processes in place during the busy season.

Unleashing IRA Potential: Learn How to Benefit from the Inflation Reduction Act

Cynthia Adams, CEO and co-founder of Pearl Certification, and Derek Estes, Vice President of the Contractor Division at Pearl Certification, discuss the benefits of the IRA for contractors, including tax credits and rebate programs for energy efficiency improvements. They also highlight the importance of third-party certification in differentiating contractors and adding value to homes. The webinar aims to provide contractors with the tools and support they need to navigate the opportunities presented by the IRA.

Quick Hits: A Market Intelligence Update

In this article, Tim Fisher discusses the recent economic trends impacting the HVAC/R industry. It highlights a decline in GDP for the second consecutive quarter, a complicated employment scenario with increasing consumer spending but declining job openings, and a high demand for HVAC/R products despite evident slowdown. The article also notes regional variations in demand and invites readers to a webinar for more detailed insights.

Why You Shouldn’t Pre-Judge Your Contracting Customers

Matthew Bratsis of OPTIMUS Financing and Rachel Mecklenburg of FTL discuss why pre-judging your customers’ buying preferences can be a death sentence for your contracting business. You’ll learn how offering multiple financing options and understanding customers’ social styles can help you strengthen your offering and grow your revenue.

How to Attract and Keep Great Sales People

One of the most expensive and time-consuming investments associated with running a contracting company is attracting the right talent, especially when it comes to salespeople. So, when you do find a great employee, it’s important to keep them for the long term. Russ Horrocks and Drew Cameron of Flow Odyssey help you create an attractive recruiting and retention strategy that balances performance-based compensation and a company culture that drives successful habits.

Sales Management Training: Compensation Plans and Rewards

Gary Elekes discusses tactics for establishing a rewards system, including compensation, recognition, trips, and awards that motivate your people to win more jobs and grow revenue for your company. He also explains how you can establish the right metrics and goals to align the success of your salespeople with the success of your contracting business.