18 takeaways and tips from the Builders Summit

 1: Being in the room.
So, if you're in the room, you're surrounded by people who are on the same journey as you. If you have one question that you want answers to, let's say ‘when do I hire a project manager' and you get 21 people giving you a similar answer, then there's a good chance that those people will have been through that and have experienced those challenges that you're looking for a solution for. It's also great to mastermind with people who are in the same situation, looking to improve and grow their business, systemize it and make more money.
2. Take control of these three aspects to win the game. Number one, the leadership of yourself. So, that means your poor daily habits. What do you do each day, are you focused on the key things that are going to make the most difference? And mindset. What are you putting in your mind, who you're surrounding yourself with? What are you reading and listening to on a regular basis?
2b: Take control of the business.
Figure out what the 80-20 is and then the 80-20 of that. So, what's the core 4% that's going to make the most difference in your business and systemize that and put it into your diary. Your diary is your God. You are the sum of what you do each day and each week in your business.
2c: Take control of your team.
You need to inspect what you expect. You don't get what you deserve in business, you get what you tolerate. And make sure that you have everything visible and you have key performance indicators, KPIs, and key performance actions. So, three key tasks for each role and one key metric to measure how well that role is going each week. And make those visible so everyone knows the score. And then it becomes an objective way to run your company, rather than subjective, and you can make good decisions based on the data rather than just on opinion.
3: Follow a proven framework.
So, if you want to take the fast track to do anything, follow a framework that's been tested and proven. Someone else has already solved the challenge, there's a good chance that someone has solved the challenge that you're looking to solve whether it be how to include overhead recovery margin to your price, how to not compete on price, how to weed out the tyre kickers, process for judging for variations and capturing them all. Someone will have solved that challenge.
Don't re-invent the wheel. Use plug-and-play systems and templates that you can version for your business to speed up getting stuff down and into play because it's the action that gets the results.
4: Environment is critical.
The people that you're around and does the environment that you're in, like home and your office. Does it zap you (inspire you and motivate you)? Or does it sap you (suck the life out of you)? Because you are the sum of the five people that you're around the most. So, are those people inspiring you on the right journey? And this includes family, team, the people that you see the most often.
5: Are you a business athlete?
Yes, you are. So, treat yourself as your most important client. Make sure you're booking regular sessions for exercise with yourself. Look at what you put into your body. Our guest speaker, the brown butter bean, Dave Letele has managed to lose 110 kilos, half his body weight and is now way more productive. So, get rid of the fog. Get rid of the cloud. Treat yourself as number one and prioritise your health and fitness over everything else, including your business because it will have great flow on effect.
6: Variations.
Position from the start, what's the client that you're charging an admin fee. Position that you're happy to do them, but if they don't go ahead, they'll be an admin fee of 200-250 dollars. Make sure you have a system and process. Make sure that your foreman is well aware of the scope of works, the plans, and what actually constitutes a variation and make sure that you invoice on a weekly basis so that there's no nasty surprise for clients when it gets to the end of the job.
7: Know your numbers.
Business is a numbers game. Numbers tell us a story of what's working well and what we need to focus on. You can make a massive difference in the next 90 days if you understand is it your gross margin that's going to make the most difference, is it your average dollar sale, your conversion rate, number of leads. What is it that's going to make the most difference and implement three strategies to improve that number.
I have key performance indicators, KPIs, and key performance actions, KPAs, and review them each week with your team. And then, of course, you also need to look at the outcomes. So, your financials and read those so that you have a forecast this is an actual look at your profit loss each month. At a minimum, to see how you're going forecast for the month, this is your actual. And ensure that you're controlling the number one variable in your business that's going to have the most impact, labour. So, that's forecast, this is actual labour hours via the job and break that down by the stage and check that each day, each week with the team to let them know are they on track and what do they need to do to pull back that time.
8: Win's and why?
Quite often as entrepreneurs, we're always focused on the horizon. How much further have we got to go and this can lead to a lot of dissatisfaction. Are you making any progress? So, every 90 days reflect back, see how far you've come and it's all how you perceive things. So, even it's not so much what happens, it's your response to that event. So, even if you've had a perceived negative like a foreman has left and taken some of your crew, you can turn that around into a positive, gives you an opportunity to train from within, hire a better foreman, build a better system, re-invent your business, and put in place the systems and processes to ensure that doesn't happen again. And you build a great business with a strong culture.
9: 90 Day Reviews
Every 90 days, review your business across its core pillars. Marketing, sales, pricing and numbers, team, operations, onsite and in the office, and leadership. Set goals for what you want to achieve over the next 90 days across the key metrics and then make sure that you implement three key strategies or projects for you and your team to get in place, whether it improves yourselves, system, productivity onsite, man bigger jobs, or I have the foreman take off a lot of work off your shoulders by doing the top fifteen tasks that each foreman should be doing.
10: Break your business each year.
Every year, we decide what are we not going to bring into the next year. So, what is it that frustrates you? Maybe it's chasing tyre kickers. So, install a good sales process with a qualification checklist and criteria, and question it so you weed out the chaff from the wheat. Price them for free. Find alternatives to process, so that you can charge for the next step in the process. Charge for your expertise and get paid for those quotes or the next step in the sales process, anywhere from $800-$3500 like our members do.
11: Celebrate success.
Success leaves clues. Follow people who are at the next step of the journey that you want to get to. Model and replicate their behaviour, especially with our member of the quarter. We interview members who are making big changes and wins in their business and their lifestyle, and if they can do it, then you can do it. So, celebrate your success and other's peoples. And think, if they can do it, then I can do it.
12: Automate your marketing.
There are only two key things you need to do. Number one, drive traffic to your website or your funnel. And number two, capture each lead and nurture people on why they should do business with you, either straight away, get in touch now or in the future if that's 6-12 months away. It's the perfect time for you to educate them because people want to know four key things before they'll do business with you. Number one, who are you, who's your company, can I trust you, and how specifically can you help me.
And look to how your driving traffic to it so is it Facebook, Google AdWords, email, etc. Be sure that you have a good lead gen magnet. So, an example might be the top 19 things you need to do to consider when renovating your villa. So, it's going to position you as an expert and then have a good follow-up system with a series of automated emails. This way you're going to build a relationship, give value first, build that relationship on an automated manner, position yourself as the authority. And as you position yourself as the authority, you make conversion easier, margin higher, and will result in more profit and people would rather do business with the decision maker, or the people that you want to be doing business with. As opposed to price interpret people who want the diets or the Toyota of the builder, rather than a Range Rover.
13: Have specific landing pages.
Google rewards you with a high-quality score for when people sound those landing pages longer when there's a good fit between what they search for and what they found. So if you're doing renovations, new builds, leaking building, re-clicks didn't have a specific landing page with specific knowledge with the highly searched keywords on each of those landing pages. Google will reward you well for the longer people stay on that, your page. At least for your traffic and you'll be able to dominate your other competitors in that area.
14: Videos
80% of decisions are made with emotion and justified with logic. So, ensure that you use director's video or welcome video, video testimonials that help people to share their story of dealing with you, how you work with building company owners, and pull back the curtain behind the process to give people trust and confidence on why they should choose you for the biggest investment of their life over any other building company. And if you want to see some great examples of this, have a look at Craft Construction.
15: 5 Biggest Concerns
Ensure that you are overcoming the five key concerns that everyone has before they choose a builder so time, budget, communication, quality of workmanship, and trustworthiness. So, show the systems and the processes with screenshots, videos, case studies guarantee that you have these systems in place to overcome people's concerns.
16: Invisible losses.
One of our five coaches, Paul, spoke about these invisible losses. Are you ensuring that you have your overhead recovery margin in there between 8-12%, are you capturing all your work and progress, have a good system for managing the forecast versus the actual, are you capturing all your variations. What about your quoting time, does that go into your recovery? Do you understand the difference between markup versus margin? Are you charging for each of the cycles, do you have a suitable project management fee? Is there a lot of invisible losses that we see building company owners getting and not recovering. Make sure that you have enough to recover those.
17: Position yourself as the authority.
As you go up from generalist, specialist, to authority, to celebrity. Generalist does any type of building and is the lowest reward. A specialist may only specialise in one area, so if that's new builds, rehabs, lower renovations, etc. And authority is someone who puts out content, puts out lead gen magnets, articles, checklists, and positions himself as the authority in that sector. So, it's not hard. The easiest way to do this is to document as you go. To have a checklist or have a simple lead gen magnet or guide, that people can opt-in before engaging you and this is going to help educate them, positioning you as the authority and it's going to help weed out the chaff from the wheat. And position you as the go-to within that niche.
18: Have a compelling offer.
For people who are 6-12 months away, we want to make sure that we've got a low-risk lead gen magnet that educates and nurtures them. Top 21 tips you need to consider when you're doing your new build. And something that is for people who are ready right now to take action. So, call Bob right now for your free dreams to reality session.
Alright. Now, if this has resonated with you and you don't want to be in the same situation 12 months from now or you're ready to take action and make sure that the next 12 months isn't simply a photocopy of the last 12 months, then click below to book a time to have a chat with us.
Book your call to see if we can help you to fast track your results and be around a great community of like-minded building company owners on the journey to systemize their business and give them true wealth, but more money and more time.
Cheers, Marti.

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