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September 6, 2021
DISTANCE RUNNING As hard as it may be to believe, there was a time in my life when this body looked like a chiseled block of granite! Obviously that time is not right now, but in my younger years, I ran distance both in high school and in college. I learned a lot of lessons about life and business running long distances, whether it was on a team or as an individual. One of the first lessons I learned was that I couldn’t blame the outcome of my race on anyone other than myself. I was the only one responsible for always doing my best. If I didn’t perform as well as I should, it was all on me. Even today, I vividly remember being repeatedly taught that lesson by my college track coach … at the top of his lungs as he stood about six inches from my face! I can assure you, he was not practicing social distancing or kumbaya coaching as he gave me my lesson. At one time or another most of us learn the same lesson in business, although hopefully not by having someone shouting at us. Our customers let us know we’re not performing
August 24, 2021
Being an entrepreneur can be tough; everyone expects you to have the RIGHT answer ALL the time. As a business owner in the restoration industry, it can be even tougher when balancing the needs of customers, adjusters, and your company. The moment may come when you need guidance, whether ongoing or for a specific challenge. You may consider hiring a restoration consultant, but what are the fees, pricing structures, and services they provide? How much does a restoration consultant cost? Hiring a professional consultant from outside your company can feel daunting, as consultants vary widely on their techniques and levels of service. In this article, we will guide you through selecting a restoration consultant or executive coach by discussing the different models, objectives, techniques, and cost structures you may encounter. After reviewing, you will know enough to be confident that you are choosing the RIGHT consultant for your particular challenge and business. You will also be able to estimate the cost of hiring a consultant or executive coach in the restoration industry. Consulting Pricing Models and Structures A study conducted by Consulting Success shows that most business consultants use one or a combination of five common pricing structures. 31.37% of consultants use
August 23, 2021
ON SECOND THOUGHT Years ago, an older colleague of mine joked, “If I had known I was going to live this long, I’d have taken better care of myself.” We both had a good laugh, but we also knew there was an element of truth to his comment. Years of hard living as a younger man were now taking their toll on his body. As is often the case when I hear comments like this, my thoughts immediately turn to business and the similarity between running a business and running your life. They both involve making decisions that seem innocent at the time but can have serious, unintended consequences when they play themselves out years later. By then, it’s often too late to do anything about them and we find ourselves lamenting, “If I had known how long I was going to own my business, I’d have taken better care of it.” We often make this mistake when we’re young business owners just trying to survive week to week during the launch phase or when we’re running as fast as we can trying to scale our company during the growth years. It’s easy to get soft on making hard decisions.
February 21, 2021
7 Tips for Selling Your Restoration Business Timothy E. Hull, CR How to Prepare for Selling Your Restoration Business Our clients consistently ask “How do I sell my restoration business?” Imagine coming home from work one day to find a real estate broker sitting in your driveway. They get out of the car, approach you, and politely make a cash offer to buy your house at the current market value. You, of course, tell them that your house is not for sale. The realtor persists and asks for a price that you would consider. You add 30% to their original offer and respond with a smile. They agree without objection and let you know they will draw up the paperwork. Feeling shocked and moderately confused, the scenario leaves you with one daunting question: Is this too good to be true? While this fictitious scenario might seem like a pipe dream, it’s not too far from the reality experienced over the past couple of years in the restoration industry. Large national contractors, private equity groups, and venture capital firms have been in a race to acquire as many dots on the map as they can. And they are paying top dollar