The concrete lifting industry is in the midst of an exciting period of growth. New businesses are popping up all over the country, existing businesses are growing, some owners are buying up concrete lifting businesses to add to their portfolio of locations.
We call on concrete lifting businesses to introduce ourselves and talk about our services. Then, we listen.
We hear the problems that they are wrestling with at the time. Sometimes, they don’t know they have an issue until they talk through it with us. Based on our observations, these are the 5 biggest challenges to growing a concrete lifting business.
Most businesses start out with one rig – or truck – whatever you want to call it. If outfitted correctly, these rigs can run you up to $150,000 each! The majority of owners we have talked with spend around $70,000 for a trailer, pulled by a Ford F250, something like that.
If you want to grow your business you have to buy another rig. If you haven’t saved since the day you launched your business, you don’t have the money to buy so you finance it. Lots of rational owners do not want to carry a lot of debt. We get that. But if you’ve been booked out at least 3 weeks on the rig you have, and that 3 weeks runs through your entire season, then you need another rig.
Hiring good people is one of the biggest struggles for any business. Some employees last a week, others last 5 years. It’s a crap shoot.
We talked to an owner recently, he had two great employees who came to him with direct experience. The owner made sure he treated them well, giving them commissions on jobs, letting them take the trucks home when they needed to, medical benefits, etc. After 2 years on the job, they both quit – no notice. One decided to move away for a different career, the other was hired away by a direct competitor. You can’t win.
Once business owners decide to actively grow their business, they need to hire someone to take some work off their own plate. That way the owner can work ON the business rather than IN the business. One client of ours is looking for a sales guy, another client is looking for a customer service admin. Another needs a lead tech. Whatever position you fill, quality training increases the likelihood that your new employee will stick around.
Processes & Training
Marcus Lemonis, the CEO of RV World and Camping World, swears by the 3 P’s of business: People, Product and Processes. You can hire people all day long, work jobs all day long, but if you don’t have an Operations Manual, or, a way of doing things, then growing will be hard.
If we provide lead advertising to you, we also provide the process for how to nurture the leads until they schedule their job with you. Salespeople should have a script or a series of steps they should take from the initial meeting with a prospective customer all the way through to the actual selling of the job. Does your lead tech have his job description and daily tasks, in writing, to refer to when needed? You get the idea.
The easiest part of growing a business is saying,” It’s time to start actively growing my business.” The rest of it can be tough. Look at it like a marathon, rather than a sprint. What will you do every day to get your business closer to where you eventually want it to be? Do something every day and in a year you’ll look back and see how all those small actions, together, made a massive difference.
If growing your business is one of your short-term goals, contact us through the form below. We’ll help you make it an enjoyable but organized experience.