Remodeling activity is on the rise. In busy times like these, it’s easy to let your business run on autopilot, but that puts you at risk should the economic environment change.
As a remodeler, you are a skilled advisor to your clients. Why not apply those skills to yourself and your business as well? For example, when discussing a bathroom remodel with a prospect, you may explain that there are three levels of renovation—cosmetic, intermediate, and total gut/redo. The scope of the project will depend on the condition of the existing bath, the client’s desire for change, and the budget.
You can apply this same approach to yourself and your business. For yourself, a cosmetic remodel may amount to losing a few pounds. For your business, it might mean scheduling a monthly lunch with a strategic partner or a weekly call to a past client to check in and discuss future opportunities.
A cosmetic remodel is about staying current and fresh, but an intermediate remodel requires more dramatic changes. In a bathroom, the fundamental structure may be sound but the cabinets, tops, and fixtures need replacing. On a personal level, an intermediate remodel may mean following doctor’s orders to lower your cholesterol or treating pre-cancerous skin cells. For your business, it might mean overhauling your online reputation, correcting cash flow problems, or dealing with underperforming employees. You may need to bring in a business coach or advisor to reduce the risk of making mistakes or to help create a more detailed blueprint for improvement with a timeline or budget allocated for it.
In a gut remodel of a bathroom, you start from scratch but you take advantage of the opportunity to transform the home. You may add a walk-in shower, more storage, and other improvements that raise the home’s overall value.
For you and your business, this level of remodeling may arise out of a crisis or a grand vision to improve and is always focused on the longer term. Ask yourself, “Where do I want to be in three to five years? What opportunities is the business creating for my key team members?” You may discover the need for a new layer of management or a new product or service to create better balance or more predictable workflow. Some of you may need to have discussions with family members in the business about alignment and future roles. As with a gut remodel, this kind of change requires a higher level of investment and commitment.
The decisions about which improvements to make personally and in your business can come from following the same kind of advice you give your clients every day.