Words of Advice

I recently joined an NAHB delegation that met with Federal Reserve Chair Jerome Powell and other members of the Fed’s Board of Governors. Several of us shared our perspectives. 

When it was my turn to speak, I recounted what I’m hearing from peers around the country: Any remodeler with a good product and reputation is doing well right now.

If you’ve been in business for a couple of decades, then you’re one of the old pros and now it’s your turn to pass some of your hard-won knowledge to the next generation. But if you’re newer to the industry, then I’d like to offer a few words of advice.

Build a Great Customer Experience

The quality of your projects is the most important aspect of your business. 

When something goes wrong, make it right. Doing so may eat into your profit margin, but this will pay you back handsomely as you build your reputation. 

Take Care of Your People

The best way to deliver great projects is to have great teams working on them. Hire the best people you can find and make sure your pay and benefits are at least as good as your competitors’.

When I hire, I look for attitude, intelligence, and a willingness to learn. A solid track record is also important. Make sure your teams are committed to delivering an outstanding product. Empower them to make decisions that will result in a great customer experience.

Give your employees opportunities to learn and grow within your business. Invest in your people, and they will reward you with excellence.

Diversify Your Business

Always keep your mind open to new possibilities. We had a customer a couple of years ago who asked us to install a storm door. We did the job well and they were very appreciative. A year and a half later, we put a $350K primary suite on their house. That happened simply because they liked the work we did when we installed a storm door.

Join a Professional Organization

I’m a member of the National Association of Home Builders and the chairman of NAHB Remodelers, and I have not found any other group that offers comparable expertise and educational programming.

NAHB gives me expert advocacy on regulations that affect my company and provides outstanding education to help me improve my business. Through NAHB Remodelers I connect with experienced industry professionals, and I cannot put a price on the wisdom I’ve gained from my peers over the decades. I would not be where I am today without the guidance from that network.

Focus on Education 

Whether you’re a member of NAHB or some other organization, take advantage of the educational programs. And encourage your employees to learn more, as well.

Attend the International Builders’ Show (IBS), and take a few employees with you. Check out the exciting new products, attend educational sessions, and network with your peers at the NAHB Remodeling Central.

Wrapping It Up

A few more thoughts: Have a plan for various contingencies; learn from your peers; don’t chase bad jobs; don’t take on too much debt; and keep up with trends and new technologies.

I’d be happy to share more, and I know many fellow remodelers who willingly share their expertise. If you happen to make it to the IBS in Las Vegas this February, stop by the NAHB Remodelers Central. It’s the best peer-to-peer knowledge exchange you’ll ever see.