May 19, 2013

Believe it or note, a housing shortage is looming. That’s not common knowledge, but it’s coming. Consider the following:

In July 2008, the U.S. Census Bureau released some incredible population projections. Take a look at these numbers:

  1. Projected increase of 135 million people (a 44% increase) in the U.S. by 2050 (to give you perspective, that’s equivalent to the entire populations of Mexico and Canada moving to the United States)
  2. The Census Bureau estimates this population boom will require 52 million new housing units
  3. This amounts to over 1.25 million new housing structures that must be built each year in America just to keep up with the increase in population.

May 12, 2013

With the nature of the remodel business, and customers demanding more for their home improvement dollars, it makes sense to duplicate what successful remodelers are doing working with existing customers and architects. I recently spoke to Dennis Allen, the principal partner of Allen Associates, a custom home building and remodeling company in Santa Barbara, CA.

April 27, 2013

I recently received a call from a remodeler who was behind on his estimating. He said he had 16 estimates on his desk waiting to be completed. I was dumbfounded. I asked him if these were small projects that could be done quickly, and he said “no.” His average job size was $40,000, so the 16 estimates waiting on his desk ranged in size from $11,000 to over $140,000, based on his preliminary guesses. I asked him when he was going to find the time to complete these estimates, and he said he was going to have to “burn the midnight oil.”

April 21, 2013

Sometime this month, Mark Brick and will family will go on vacation to Toronto, Canada, with all expenses paid. He didn’t win this trip. Mark’s lumber company is paying for Mark’s trip to Canada. He got this “free” trip by discovering that his lumber company gave free trips to homebuilders when their annual sales volume exceeded a certain amount. After speaking with a homebuilder to get the facts, he negotiated with his lumber company to get the same benefit. He and his family leave for Toronto in late August.

April 14, 2013

I have been writing about the importance of organizational systems in your business. You can’t argue against systems-every successful business has them, and you need them to grow. There is another issue that I’ve seldom seen written about, which underlies the effective implementation of effective systems: letting go.

March 31, 2013

I wanted to send a follow-up note regarding some video segments on working with distressed real estate. I’m highlighting this because while remodeling is a good business, it doesn’t allow business owners to build wealth. This was made abundantly clear several years ago when I was speaking with a very successful remodeling contractor who had begun rehabbing old homes. He had been doing this for years, and I was curious about it.

March 24, 2013

Referrals are the strongest business leads we can get. When a past customer sings our praises, we can get no better recommendation. In light of this, I want to show you how to transform ordinary business relationships into extraordinary ones. I want to encourage you to create actions that are designed to be so exceptional and different from what is expected that your customers are pleasantly surprised, to say the least. These actions generate such good work-of-mouth advertising that it’s the best form of advertising you can buy regardless of cost.

March 16, 2013

I had a wonderful breakthrough in my remodeling business when I discovered that I could set project rules that homeowner would agree to follow. Now, I learned from practical experience that I couldn’t set these rules after the project had started. No, any rule setting had to be agreed upon before the project started. I understood that I could do this after I spoke with a psychiatrist who had just completed a 6-month remodeling job. After his project was complete, he told me that “parental transference” takes place on many remodeling projects. In many projects, a good contractor takes on a parenting role to the clients he or she is working with. Interested in reviewing an agreement for House Rules?

March 10, 2013

I have been writing for several years now about how to be more successful in the remodeling industry. With over half of the nation’s homes being built prior to 1980, there will always be a remodeling industry because homes around the country are aging just like we are. They will continue to need work, love, and attention. Remodeling is a good industry, and anyone reading this will usually share positive stories from their experience while working in this industry. It is fulfilling work, but it doesn’t build wealth.