Do you ever feel stuck by not knowing the best way to structure year-end bonuses for your team?
Do you wish you knew what other people were doing?
Since I get this question a lot, I decided to focus this week’s blog on different ways to structure year-end bonuses.
I had the most interesting experience last month being a guest on my friend Kyle Hunt’s podcast, Remodelers on the Rise.
I came prepared to talk about pricing for profit and ready to answer the questions we’d outlined ahead of time. But right from the get-go, Kyle went off script. At first, I was concerned and thought “where is he going with these questions?”
He’d make these funny comments, or intersperse a light-hearted observation while I’d be making a point, which threw me off a bit.
In over 25 years of working with contractors, there is one number that most people I meet don’t know. And getting that one number wrong is killing their profits!
What sparked this post was a recent call with my new client Joe.
When my client Bob first called me and I asked what was the number one thing he’d like to change in his business and he replied – “I’m bidding at all hours of the night and weekends, and then working in the field during the day. I feel like I jump through hoops to try and give prospect what they want, and it takes forever to get them to commit if they commit at all. I want to find a way to get more control of this part of my business, and stop working nights and weekends.”
I told Bob he wasn’t alone. If there is one thing most contractors can agree on it’s this: selling is not at the top of the list of things they love to do. I can understand this since selling is not usually where your greatest strengths lie. It can feel unnatural and awkward and often leave you feeling like you’re wasting precious time trying to get someone to make a decision, especially when you’re competitively bidding against other contractors.
So how do you stop wasting time bidding the wrong jobs, get control over the sales process, have people commit faster, AND, have you be the preferred contractor?
Good news – it’s not as complicated as you may think.