The Big 5 for Success – Management

The Big 5 for Success – Management

 

Jodie Deegan
Contributing Writer
Nexstar Network®

One of the managers who had previously worked for me enjoyed great success running his company this way. He was a consistent performer who exceeded his monthly and annual budgets. His own bonuses were large and he had earned a reputation as a top performer. What did he focus on? I call it the “Big 5” — direct labor, material costs, office salaries, marketing and vehicle expense. If you manage these operating expenses daily you are setting yourself up for success.

Call-by-call management was also a key focus of his management team. They made sure to get the right tech to the right call. They were best in class for call center conversion rate and they dispatched properly to save on driven miles and fuel costs.

How can we learn from this operator? We can all be just a little bit better. His operational approach to running businesses is simple and we can each do the same things he did to be successful. Below are a few other things to have in place that will help to pull it all together. They are not in order of priority because they are all important.

• Consistency

• Financial Controls

• Stated Goals

• The Right Team

Being just a little bit better equates to big wins in your financial results.

 

Jodie Deegan is a business coach for Nexstar Network. He has operated HVAC, plumbing, drain and electrical companies for more than 25 years. Notably, Deegan successfully ran several multi-trade companies within a national home services organization ranging in size from $3 to $22 million in annual revenue. To learn more call (888) 240-STAR or visit www.nexstarnetwork.com.