Articles Tagged with ''business administration''

Many U.S. businesses across a variety of sectors have experienced new challenges over the last year — this is particularly true for those in the mechanical, engineering, and plumbing (MEP) industries. In early 2022, the MEP sector saw labor shortages and supply chain disruptions lead to increased labor and material costs, while later in the year and early into 2023, businesses are experiencing slowing demand for building and renovation. Unsurprisingly, this dynamic has culminated in constantly fluctuating profit margins for many MEP business owners.

The ultimate goal when developing your home service company’s best practices for sales and lead generation is to become the only opportunity or alternative your customers see.

Employee retention is a critical key to contractor’s business success given historically low U.S. unemployment at 3.5%, and continued difficulty in filling plumbing and HVAC positions — with only one of four positions being filled.

You may be the best technical plumber in town, but you will earn poor reviews and bad word-of-mouth if you cannot communicate well. Here are nine simple steps you can take to improve your communication skills. Almost all of them are non-verbal.

Are you struggling to move on from past mistakes? Many leaders in the trades find themselves in this position at some point in their careers. It can be difficult to let go of what's happened and focus on the future, but it's essential for your continued success. This month, I’m sharing some tips on how to move forward despite past mistakes.

 As 2022 comes to a close it is now time to review my predictions from last year as well as predict ten more trends I see as we enter 2023. Just like last year, I will stay away from prognosticating about where the stock market will be at this end of the year; instead, I will stick to identifying trends that supply houses will find important in this upcoming year. With all that being said, let's jump right in and review my 2022 predictions.

If the country is not already in recession, it appears likely one will arrive in 2023. Here are six ways to turn the downturn into an opportunity.

Businesses are facing major changes in the way they operate and the way they interact with clients, partners and suppliers. These changes, which are rooted in uncertainty, often challenge our business confidence as leaders at the highest level.

It’s no secret that there is a major shortage of skilled workers in the plumbing industry right now. According to one report, the booming real estate market, combined with piqued interest among homeowners in renovation projects during the pandemic, substantially increased customer demand for home services that isn’t slowing down anytime soon.

Let me clue you in on a poorly kept secret: Traditional advertising is expensive. I know, this isn’t exactly shocking. Depending on your market, a month-long rental of a billboard could cost five figures. A week’s worth of 15-second radio ads can run up to $8,000 — and that doesn’t include the cost of producing them. And television? Forget it.