I've been fortunate for the past decade to be part of the team that works on Pro Remodeler’s Forty Under 40 awards, and I’m always interested to see new trends among the winners. No one would say that a group of 40 people is statistically representative of a whole industry, yet I’ve noticed over the years that the new ideas embraced by this group are often examples of forward-thinking leadership in remodeling.
With that in mind, here are six trends I’ve spotted in 2024’s group of winners.
1. Next-Gen Leaders Are Spurring Growth
It’s always been generally true that when a new generation takes over their parent’s company, the first thing they do is modernize it. Yet, I see that dynamic even more in today’s younger leaders. I believe that because there’s more to modernize.
In recent years, we’ve seen an explosion of remodeling-specific technology, dramatic changes in workplace culture, and consumer demand for faster and higher-level service. The generation following the company founder responds to these business conditions in original and exciting ways.
That’s led to an...
2. Increase in Revenue
I’m seeing much higher numbers from our winners than in past years. Yes, part of that is inflation and carry-over from the COVID business boom, but even accounting for those variables, revenue is up.
We still don’t have enough young people entering the industry, but the ones that do find their way in are—as a group—smart, hungry, and highly capable.
This has created an increased...
3. Emphasis on Systems and Processes
While interviewing with our team, nearly every winner mentioned a recent process improvement they developed. These enhancements drove profitability and/or added efficiencies.
I came away from those conversations feeling inspired partly by the improvements themselves, but even more by the relentless commitment to excellence that characterizes this group.
4. Meeting New Hires Where They Are
As younger remodeling leaders, our winners create company cultures that mirror the values of their own generation.
Businesses that successfully compete for new talent are those that provide things like flexible schedules, transparency in leadership, growth opportunities, and authentic alignment around company mission and vision.
5. A Larger Digital Footprint
Two of our winners this year have highly successful YouTube channels, and a handful created viral social posts. One is signed with a production company.
This group was children and teenagers when social media first emerged as a business differentiator, and so instead of learning best practices, they were formed around them.
6. A True Emergence of Women Leaders
Of the 20 business owners in this year’s group, six are women. Seven of the 11 honorees in leadership positions are as well. This is a huge increase from prior years, and I’m overjoyed to see the trend.
If you have any observations of your own, please reach out!
Click here to see the full Forty Under 40 class of 2024
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