Case Study: Family Trade Turns Into The Family Business

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Residential Painters

Business To Consumer

 

Client Situation – AT A GLANCE

 

Just because he knows how to paint, doesn’t mean he knows how to run a painting business…

CHALLENGES:

  • Finding the working capital to meet payroll and material expenses.
  • Finding qualified workers
  • Development of replicate-able systems to build a solid business.
  • Limited understanding of business financial reports and the value the information brings to the business.

SOLUTIONS

  • Solid business plan for slow and steady growth of production and overhead costs.
  • Clear understanding of the 5 major areas of the Organizational Chart for High Performing Companies
  • Balanced efforts in all work-rooms of the business
  • Utilization of employee pre-hire assessment to determine learning traits and skill-sets.
  • Value-add relationship for all customers to ensure repeat business and active referrals.

RESULTS

  • Business growth is within 5% of plan numbers.
  • Employee retention is well above industry averages
  • Cash flow needs have been met and no additional financing has been needed since year 1

HERE’S THE STORY

In the 19th and early 20th century, it used to be a tradition that sons were taught the trades of their fathers.  The sons would learn the skills of their father as they were growing up.   This is what led to this new business owner getting bit by the ‘entrepreneurial’ bug.

He is a 3rd generation painter, but rather than work for someone else, he decided he wanted to own his own business.  But, as most business owners know, there is more to owning a business than just delivering the quality product and service you sell to your customers.

An existing client referred this business owner to Advanced Business Coaching.  When we first met this owner, he was extremely frustrated with the Business Owner / Business Leader,  Marketing / Sales, Systems / Team and Customer Service/ Customer Care areas of his business.  Defining each area and separating the principles, practices, measures and metrics for each area, we were able to put together a plan for balanced growth and his frustration lessened.

As with most business owners, his talents were in the Product / Production area of his business.  Establishing the Vision and Culture of the business was the corner-stone of all future growth.  Once that was written and confirmed, we started the search for team members that would thrive and grow within that culture.  Utilizing group hiring processes and pre-hire employee assessments we were able to save time and find qualified employees that were comfortable delivering the quality work that was important to the owner—and his customers.

Creating a shared risk/reward compensation plan for all employees was an important part of the business model that contributed to the first years Family success.  Having all employees concentrating on cost containment, productivity and efficiency led to better than planned job profit analysis and high than expected income by the team.

For the small business owner, finding balance in their business is imperative to sustained growth and long-term success.  Working in all areas of the business to achieve the most important things that would contribute to strengthening the business.

Focus on delivering customer expectations was the biggest area of concentration over the first few years.  Happy customers provided quality referrals, held ‘open house’ parties to show neighbors and friends their newly painted home, and made took advantage of opportunities for the owner to do interior work that kept his team working year round.

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To your success,

Michael Stelter

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