Business Development Associates
Main PageServicesThe BDA WayEventsAbout BDAResourcesTestimonialsBDA
spacer
spacer
spacer
spacer

Archive for the 'consulting' Category

Labor Productivity is the Key to Profitability

As a restoration company owner you must measure productivity to know if the money you spend on labor is paying off in terms of output (revenue). A labor productivity ratio is the simplest way to find out if you are getting the production you need. When you use this ratio on a regular basis you will be able to keep a sharp eye on your employees’ productivity.

Labor productivity is the number one key to profitability and is best measured by the Labor Efficiency Ratio (LER). This ratio indicates the productivity of all labor (production, sales, and management). You will need to measure each labor segment and monitor productivity per labor dollar and make adjustments as you see the LER decreasing. With the downward pressure from the insurance industry you can no longer wait for six months or longer to see if things improve. Adjustments must be made as quickly as possible when you begin to see a decline in your LER from previous periods.

The Direct Labor Efficiency Ratio (DLER) is calculated by dividing Gross Profit (minus direct labor, benefits, and employer burden) by the direct labor cost. For example, if your company had a Gross Profit of $4 million and a direct labor cost of $1 million you would have a DLER of $4. This means that for every $1 you pay your production employees the business receives a $4 return on that investment.

Here are some tactics to improve your Labor Efficiency Ratio:

  • implement an effective scheduling process
  • provide a quality back-office support Team
  • reward your productive employees for performance
  • recruit, hire, and on-board high-performance employees
  • implement and integrate lean processes
  • boost employee morale
  • set clear and attainable goals
  • reevaluate your staff on a regular basis
  • give praise and recognition.

At BDA, we believe that every restoration business owner has the right to expect that their company can deliver to them what they want out of life- freedom and the ability to create wealth.

Make it a prosperous month!  Stay tuned for next month’s article.

John Capponi, CR
Operations and Management Consultant
Business Development Associates, Inc.
john@gobda.com
Cell: 407-745-7698

Why Weather, Hope and Good Luck are Not Business Strategies

Come join BDA at the RIA Convention & Expo in Vegas next week, where BDA President Tim Miller will be presenting the second keynote address on Friday, May 8th, from 8:45-9:45 AM. The Keynote is entitled: ” Why Weather, Hope and Good Luck are Not Business Strategies: Five Keys to Surviving and Thriving In Today’s Ever More Challenging Restoration Industry.”

During this keynote, Tim will discuss the changes brought about by the fluctuating weather patterns, the economic collapse of 2007/2008 and the maturation of the restoration industry in relation to how they have created major challenges for restoration contractors.

The constant downward pressure on margins, increasing competition, skilled labor retention issues and a reduction in weather-related work has many restorers working harder than ever doing what they have always done to get business—except it’s no longer working.

While there are no “magic bullets” to change the current situation, a clear eyed look at the realities of the market is essential. Business owners need new ideas, information and thought processes to use as building blocks to create a new future.

Restorers that are looking to break free from these destructive circumstances and “entrepreneur” their way to a new business reality will benefit greatly from this keynote, and learn five keys that restorers must consider to make a positive change in the short, medium and long term.

Come join us for this exciting and informative keynote address, and visit the BDA team at Booth #306 during the Expo hours. See you in Vegas!

With Great Power…Comes Great Responsibility

In the beginning of their business, the entrepreneurial restorer is involved in all aspects of their company, from the operational side to the marketing of the business and everything in between.

As the business grows, their ability to continue this intense level of owner involvement becomes more and more difficult. As the company grows from Point B to Point C, the owner becomes faced with the responsibility and challenges that come along with the onslaught of complexities found in every growing business: the need for, the decision to, and the implementation of new processes, employees, strategies and more to get them to the next stage of the company’s growth.

In the article, “With Great Power, Comes Great Responsibility” by Business Development Associates’s President, Tim Miller, this subject will be discussed in more detail, including what not to do as the company grows.

Click here to read the full article, which appeared in the June 2013 edition of Cleanfax Magazine.

Business Development Associates, Inc. is a full-service marketing and sales agency specializing in the restoration and cleaning industries. We are helping restorers and other businesses grow their companies using proven and proprietary programs, systems and services that are generating millions in new business. If you’re a restorer looking to grow your business, visit us here to learn more or call us at 847-386-6556.

LinkedIn’s “Sponsored Updates”; Tips for Restorers on Content Marketing

alt="linkedIn content marketing for restorers"
LinkedIn recently announced the addition of “Sponsored Updates” to their product suite, allowing members the opportunity to get their content in front of other LinkedIn members that are a match for the content of the update, even if those members are not following their company profile.

In the constant battle to win the content war, LinkedIn, much like Facebook, is offering another way for members to get their content put in front of the right people, and hopefully clicked on and read (while the social media giant makes a pretty penny of course, watching companies battle for market share via their platform).

Facebook, unfortunately, learned a hard lesson about going too far with using the personal information of their members for their former “Sponsored Stories” advertising product, ending up in a lawsuit that was said to be a potential revenue loss of $103 million. Facebook would then modify and re-market the same idea of paid advertising for content, slimming their 27 ad unit options to half the amount and making other modifications.

Done correctly and consistently, like any paid social media initiatives, the LinkedIn “Sponsored Updates” could be a great boost for companies as part of a larger integrated campaign for the product or services the paid update’s content is steering the B2C or B2B audience to. And, creating content that is compelling to the audience and speaks to their needs will always draw in higher click-through and conversion metrics.

As part of “expanding their content ecosystem,” LinkedIn’s new Sponsored Updates will allow for content to appear in the homepage feeds of targeted, prospective business partners or customers. Updates can be seen on both PC and mobile applications and will be marked as “sponsored” to the viewer.

For those purchasing the product from LinkedIn, you can choose either CPC or CPM pricing and track the effectiveness of the content through analytic tools provided by LinkedIn.

Tips For the Restorer:

By now, you have probably heard about content marketing and how it can help you boost your business. Creating viable content that keeps people watching your page, sharing your posts and hopefully, recommending and using your company’s services and products, is key to content marketing success. Be sure to share more than just about your restoration company–remember, it’s not all about you !

What do people really want to read about?

About themselves of course, and the things that affect them ! There is certainly a time and place to share content about your restoration company in your content marketing strategy-but be sure to engage and share things that your reader will find interesting. Instead of talking about the fact your restoration company performs mold remediation, share information about the dangers of mold in the home, for example. You’ll see your likes, retweets, shares and more start to improve!

And when your restoration company does great things, be sure to share that too. Did your company get involved in a community event? Did individual team members do something above and beyond? Share it! This is a great way to express your reputation-online!

And of course, be sure that social media is a piece of your overall integrated marketing plan, versus your only sales and marketing method! In today’s over saturated world of communications, restorers must have an effective strategy and accompanying plan utilizing several communication outlets to break through the clutter of communication in order carry out that strategy so they can predictably grow their business not only from a mass marketing perspective, but also through their 1:1 direct selling efforts.

If you’re a restorer looking to predictably grow your business, Business Development Associates might be the solution you’re looking for. Although we’re not a perfect fit for everyone, we’re helping many restorers across the country to predictably grow their business using a proprietary and proven marketing and sales system that generates millions in new business. For more information, call 847-386-6556 or email info@theBDAway.com.

Insight Into The Customer Lifetime Value of Your Digital Customers

A recent study from marketing company Custora, who analyzes customer retention and acquisition, provided insight into the lifetime value of customers, based on the digital medium from which the customer came.

The study shows shows the varying Customer Lifetime Value of digital customers, with PPC (Pay Per Click), referral and even e-mail topping the list, beating out Facebook and Twitter in regards to obtaining a higher quality customer.

alt="Customer Lifetime Value Chart"

For customers seeking a product or service via the search engines directly (IE: Google) or click on ad specifically of what they are looking for, these results are easy to account for because those channels utilize the intent graph (the consumer is looking for something specific). Social media platforms like Facebook and Twitter will have to use their graph searches to redirect the customer to the product or service they seek.

Another result that came out of this study is that rural area customers tend to be more valuable and loyal over time, as their choices of vendors are more limited due to their living area. The Wyoming customer, for example, is 28% more valuable than the average American.

Tips for the Restoration Contractor:

While this study proves to have compelling information to help you see where valuable customers through digital efforts can come from, it’s important to incorporate a variety of digital and non-digital tactics to not only prospect for new business, but also, to make sure that they will be the kind of customer you want. The study makes a strong point for digital marketers to not put all their eggs in one or two baskets, in particular, Facebook and Twitter, who have made great strides to provide advertising, targeting tools and other strides in order to build a stronger (and more profitable) user community.

While SEO and PPC can bring in several to handfuls of leads a week, are you finding that those customers are jobs you are wanting to take on? Recently, we spoke with a prospective client who was receiving numerous leads a week through their PPC efforts, but 90% were the types of jobs they did not want, and thus, their return on investment was not what they had hoped for either.

On the flip side, we also have restoration contractor clients who see decent work come through their digital marketing efforts. But, it’s part of their overall marketing mix, and contributes as another source of business. As we mentioned before at the beginning of this blog…don’t put all your eggs in one (or two) baskets!

The most effective way to ensure a steady and predictable stream of work is to make sure that you not only have the right tactics in place (SEO, PPC, Direct Marketing Tactics, etc.), but also, the right sales reps in place and a dynamic way to hire, train, coach and manage them. Check out this article on “How Managing Your Salespeople is Different From Your Techs” to give you a flavor of what we are talking about.

And most of all, you’ve got to have a strategy as the foundation of your marketing plan, that supports the tactics and the sales force.

If you’re a restoration contractor looking to predictably grow your business, you should take a few minutes to visit us at www.gobda.com. While we’re not the perfect fit for everyone, we are a sales and marketing consulting agency helping restorers all over the country through proven and proprietary programs that help them to generate millions in new business. Now doesn’t that sound like an egg you want to have in your basket?

Facebook Modifies Ad Offerings for Enhanced (and Simpler) Advertising for Marketers

In a press conference yesterday, Facebook announced that it will be simplifying its product offering when it comes to advertisements. The first step will be taking their current ad units from 27 to half that amount and helping marketers match the the type of Facebook ad they will need to their advertising goals such as in-store sales, online engagement and more.


Other changes include:

1) Removing the “Questions” ad product for Pages, as marketers can simply use the posting function to ask a question and receive comments.

2) Removing the “Online Offer” ad product, as marketers lean towards using the “Page Post Link” ad to drive people to promotions on their respective websites.

3) Marketers will no longer have to purchase “sponsored stories” in addition to the ad itself. Facebook will automatically include social context to a “Page Post Photo” ad which will eliminate the extra step of creating sponsored stories.

4) All ads will look more consistent as well, in efforts to have a more cohesive visual look. This not only reduces the number of types of ads, but, Facebook is also hopeful this will help marketers optimize their ad campaigns for digital and mobile.

The changes will start to appear in the coming weeks with a full roll-out over the next six months, and are a response to many marketers complaining that Facebook advertising “was too complicated for the marketers to figure out”, according to Andrew Bosworth, Facebook’s Director of Engineering and Design for ads.

As Facebook continues to deal with the growing pains of being a publicly traded company and the ongoing balance of creating both happy Facebook’ers and investors, advertising will be one of several (if not many) challenges they will face.

Tips For Restorers:
For the restoration contractor engaging in social media, choosing whether or not to advertise on Facebook or any social medium, can be a challenge on several levels. It’s important to remember that in social media or any marketing and sales activity for that matter, that you ask yourself these primary questions:

“Who is it that I want to engage with through this activity?”
“What are my goals out of engaging in this activity?”
“Is what I am saying relevant to target?”
“Is this the best bang for my buck?”

Social media is a moving target, but, by answering the above questions (and whatever other questions necessary), and disciplining yourself to be consistent in your efforts, you are setting the path towards success (and more sales!).

If you’re a company in the restoration and cleaning industry, and looking to find a predictable way to grow your business using a proven sales and marketing process that includes social media and a host of other activities that fit your marketing mix, Business Development Associates may be a good fit for you. Contact us at info@theBDAway.com or call us at 773-777-9956.

Don’t Miss These Upcoming BDA Sales & Marketing Seminars!

Don’t miss these upcoming BDA Sales & Marketing Seminars, where you can learn powerful strategies to predictably grow your business to the next level!

Contractor Connection 2013 Conference & Expo
May 21-23; San Antonio, Texas
Henry B. Gonzalez Convention Center
Tim Miller, President of BDA, Will Be Presenting the Course:
“5 Stages of Small Business Growth for a Restoration Contractor”
https://www.contractorconnection.com/contractorconference/Breakouts.aspx

Business growth often triggers other business challenges. Business owners tend to approach growing their company as one long continuum from the day they open to the day they retire. When in fact, there are distinct stages of growth, with different challenges, stressors, and potential outcomes. Growing companies can greatly profit from advanced knowledge of the challenges they are likely to face at each step.

This course will explore the five stages of growth for a small business while applying it to our specific industry. Detailed explanation of what each stage looks like, and suggested steps to successfully navigate those transitions, will be included in this course. Learn More About This Course By Clicking Here!

Sales Mastery For Restorers
August 7th; Columbus, Ohio
Cleanserv/Interlink Supply Classroom
Tim Miller, President of BDA, Will Be Presenting the Course:
“Sales Mastery for Restorers”
Hosted by: Totally Booked University/Jeff Cross, Senior Editor of Cleanfax Magazine

http://www.carpetcleaningrestorationmarketing.com/sales-mastery.html

This one-day course will teach show you how to increase sales by implementing a powerful, real world selling system that has been customized for the restoration salespeople and their targets! The course is hosted by Totally Booked University and Jeff Cross, Senior Editor of Cleanfax Magazine.

It has never been more important to maximize the ability of your sales team to deliver business. Most restorers agree that the average water loss is $3,000 with at least a 50% profit margin. That means that every sale you don’t bring in is costing you $1,500 or more! Plus, sales salaries and expenses add up quickly and you need to deliver a strong return.

Sales training isn’t new. But, sales training designed from the ground up just for restoration contractor salespeople is! There is no other program like this available anywhere! Click Here To Learn More About This Course!

If you have any questions about these upcoming courses and workshops, you can reach us at 773-777-9956 or email us at info@theBDAway.com.

We look forward to seeing you!

The Impact of Emotional Discipline In Sales

As a full-service sales and marketing agency, we work closely with our client’s sales force. In that, we come across some similarities on why some reps succeed and some fail. For those that flame out, one commonality we see is how a rep can emotionally cripple their sale even before it begins and during the sale which could have been swaying towards closing the deal in the beginning.

This emotional “cripple” comes from a lack of emotional discipline. Sales is a tough job in the first place, and can be very wearing on a person’s psyche-if they let it. Self-defeating thoughts such as “What I have to say doesn’t matter”, “This call will probably result in nothing” and other similar thoughts contribute to the death of the sale. This negative emotion causes the rep to lack confidence, not listen actively and so many more actions that ultimately translate over into the sale. The prospect, who is on the receiving end of the communication and emotions being put forth by the rep, will then receive and translate all those emotions and actions as a weakness in the salesperson, or, perceive a lesser value or no value in the product or service being offered.

On the other hand, emotional discipline in a sales rep is important in regards to positive emotion. Being enthusiastic, visualizing success and having reaffirming thoughts can all translate into a more positive sales process and outcome.

To read more about how emotional discipline impacts sales, click here to read the full article written by Business Development Associates and Tim Miller, President of BDA.

If you’re a restorer or industry-related company looking to boost your sales and marketing efforts, Business Development Associates, Inc. is helping numerous businesses in the restoration and cleaning industries to grow their businesses. You can learn more about us by visiting us at our website or calling 773-777-9956 for more information.

Upcoming Seminar: “5 Stages of Small Business Growth for Restoration Contractors”

Join us at Contractor Connection on Wednesday, May 21st, for this exciting seminar presented by the President of Business Development Associates, Tim Miller.

Business growth often triggers other business challenges. Business owners tend to approach growing their company as one long continuum from the day they open to the day they retire. When in fact, there are distinct stages of growth, with different challenges, stressors, and potential outcomes. Growing companies can greatly profit from advanced knowledge of the challenges they are likely to face at each step.

This course will explore the five stages of growth for a small business while applying it to our specific industry. Detailed explanation of what each stage looks like, and suggested steps to successfully navigate those transitions, will be included in this course.

Upon Completion Of This Course, Attendees Will Be Able To Gain:
• The Ability To Identify Which Stage Your Business Is At In The 5 Stages of Small Business Growth
• What Obstacles Are In Their Way Of Growing Their Business At The Current Stage The Business Is In
• Suggested Steps To Be Taken In Order To Move Their Business To The Next Stage Of Growth
• What The Future Stages Of Growth Are To Come, and The Challenges, Stressors and Potential Outcomes of Each Stage

This course will be presented twice at Contractor Connection on Wednesday, May 21st, from 1PM-2PM and again from 2:15-3:15PM.

You can learn more about the upcoming Contractor Connection conference in San Antonio, Texas, by clicking here.

Unable to make it to San Antonio? Check out another upcoming workshop held in Columbus in August: “Sales Mastery for Restorers.” You can learn more by clicking here!

Upcoming Sales Mastery Course For Restorers: A New Way To Deliver Outstanding Results!

Business Development Associates, Inc. will be presenting “Sales Mastery for Restorers”, a one-day course that will teach show you how to increase sales by implementing a powerful, real world selling system that has been customized for the restoration salespeople and their targets! The course is hosted by Totally Booked University and Jeff Cross, Senior Editor of Cleanfax Magazine.

It has never been more important to maximize the ability of your sales team to deliver business. Most restorers agree that the average water loss is $3,000 with at least a 50% profit margin. That means that every sale you don’t bring in is costing you $1,500 or more! Plus, sales salaries and expenses add up quickly and you need to deliver a strong return.

Sales training isn’t new. But sales training designed from the ground up just for restoration contractor salespeople is! There is no other program like this available anywhere!

Now,you’ve probably sent your team to sales training events and they come back enthused, but the effect quickly wears off. That’s because training as an event always fail. Training as a process, however, delivers powerful, consistent and increasing results.

If you’re looking to grow your restoration business, you need a highly effective sales program in place. There’s simply no better or faster way for your company to grow to the next level.

Details:

Sales Mastery for Restorers Course-Click Here to Register!
Wednesday, August 7th, 2013
8 A.M.-4 P.M.
Cleanserv/Interlink Supply Classroom
Columbus, OH

This course will be taught by the creator and instructor of Sales Mastery for Restorers, Tim Miller, President of Business Development Associates, Inc. Miller is a highly regarded sales and marketing expert in the industry, and brings 30 years of experience and a unique perspective to help businesses solve their problems and grow to the next level. He is also a published author in several trade magazines, a featured columnist in Cleanfax Magazine and speaks at multiple industry events and conferences throughout the year, where he leverages his business experience in both the restoration industry and his other entrepreneurial ventures, including his own construction company in New Mexico.

Click Here to Register-Space is Limited!



spacer
spacer
www.gobda.com
spacer
©Copyright 2011 Business Development Associates, Inc.