Florida Roofing Magazine - January 2022

Page 46

COTNEY CONSULTING GROUP John Kenney, CEO, Cotney Consulting Group

Strategies to Grow Your Roofing Business When it comes time to grow your roofing business, carefully prepare in advance to ensure success. Maintain the right balance between too much planning and not enough. While no plan is perfect, growth strategy plans are critical. Failing to plan properly for growth can result in a real struggle, so know why you want to grow your business, the drawbacks and the gains. If you lack a good growth plan, your chances of exceeding your budget and schedule increase greatly. Do you hope to gain new markets or territories, add more employees so your company can take on more work? To do so, you have to scale your operations strategically. First, be sure you have enough resources to handle the additional work, including workers and equipment. Formulate a good growth strategy using your experiences and information you collect about the roofing industry. This is a tried-and-true way to ensure your business will thrive amid the competition.

Devise a Successful Growth Plan

Profitability should always be the ultimate goal. Your roofing business needs a road map to succeed. Suppose the goal is to increase market share and calculate what percentage of the market you wish to gain. This helps hold you accountable for meeting your business objectives. Break down each objective into steps. For example, to increase market share, actions may include giving incentives to loyal clients and changing your customer service tactics to appeal to more clients. Outline where you want to go and how you will get there. Coming up with the right plan requires research into the industry. Question clients, examine your own experiences and study your more successful competitors’ growth strategies. Consider hiring a market researcher to conduct research in your specific areas of interest. For the best results, focus on your company’s specialty. This will help you determine the extent to which it can grow. Base your objectives on concrete factors. Once you put a plan in place, monitor its progress and make changes as needed to ensure you get the results you seek. Such oversight can detect potential problems and correct them in a timely manner. Adjust for unexpected circumstances.


FLORIDA ROOFING | January 2022

Use These Tips to Succeed ■ People are your business, so grow a successful team. Hire knowledgeable, dependable and skilled workers. Retain them by rewarding them for their efforts. ■ Lead your employees: do not just manage them. Employees will follow a great leader. Over-management leads employees to believe you do not trust their abilities. ■ Invest time and money in your company to earn even more business. Train your employees, purchase new equipment when needed and actively market your company. ■ Networking earns you more business. It will pay off in new business opportunities. Join local trade groups to build brand awareness for your company, find new vendors and generate sales leads. Give back to the community. ■ Find your niche and use it to grow. Instead of being known as a good roofing contractor, seek a reputation as the best roofing contractor for commercial or residential roofing installation. ■ Talk to people and they will talk about you and your company. Word of mouth is powerful as a marketing tool. Ask your best customers to spread the word about your business and the great work you do. ■ Take work that will make you a profit. More work is only beneficial if it puts more money in the bank. Be selective to be profitable. ■ Adaptation is the key to success. Do not be afraid of change. Roofing can be a volatile market, but you will come out ahead if you are willing to adjust to keep up with changing trends. ■ Do not sacrifice quality. Cutting corners to reduce costs will hurt your company. Your reputation for quality work will take a hit, so never compromise.