Items Tagged with 'business administration'

The plumbing industry faces a projected shortage of 550,000 plumbers by 2027, costing skilled trades $5.3 billion annually in hiring and training. However, a rising number of young adults are choosing trade school, which may introduce new talent and challenges for business owners.

No one claims that running a small business is simple. However, there are ways to make it easier, starting with how you begin each day.

As 2025 unfolds, rapid changes in technology and the global landscape are creating both challenges and opportunities for growth. Embracing these shifts with confidence can help individuals and businesses thrive amid uncertainty.

In Europe, businesses emphasize their external impact over internal corporate culture, as seen in the EU's Corporate Sustainability Reporting Directive (CSRD). This highlights the growing importance of cultural resilience, blending community and sustainability with traditional values. Companies should therefore balance internal practices with their external footprint.

Consumers choose plumbing companies based on a hierarchy of relationships, from unfamiliarity to direct personal experience, with community involvement and networking enhancing credibility and visibility at higher levels.

Enhance productivity and well-being by shifting from time management to energy management. Prioritizing physical, mental, and emotional energy can significantly improve your leadership and transform your organization. Recognize that your energy is your most valuable resource and manage it wisely.

The home services industry is rapidly adopting artificial intelligence (AI), as showcased at the Nexstar Network Super Meeting. Experts like Rocky Ozacki stress the urgency of AI integration, while companies like SafeAire and Avoca AI demonstrate how these technologies enhance operations and customer interactions.

Reverse mentoring is transforming the plumbing contracting industry by pairing seasoned professionals with younger employees. This innovative approach fosters cross-generational learning, enhances adaptability, and drives growth for the business's future.

Retaining skilled employees is vital for plumbing and HVAC contractors. High turnover leads to disruptions and decreased customer satisfaction. To address this, many are finding innovative ways to encourage retention, including unique approaches from new companies.

We all know about pricing, right? Hopefully, we know the difference between markup and margin. We know how to calculate break even. Here are eight things you should know about the psychology of pricing.