Growing Your Business One Brick at a Time
Monday, March 5th, 2007So…you have your license, your insurance, a truck and a few tools — now what????
Create a business plan and budget. A written road map on how you will spend your time and money is essential to your success. Below are some suggestions for you to think about as you decide your plan of attack.
Running a successful inspection company takes more than just doing inspections. The first two years of any new company takes a focused effort on creating new relationships that will help your business grow for many years to come.
I hate budgets. I understand, but to be successful over time, a business and marketing budget is a must. I trust you have heard the old saying “you have to spend money to make money�? Very true, but it is important you know where and why you are spending money.
A great guide is to plan on spending about 10% of your expected gross on marketing. Yes that sounds like a lot.
If you expect to grow your company, invest in yourself.
Meetings and Realtors® YUCK!!! It would be great if you could just do inspections and go home everyday. The reality is marketing and relationship building takes time and money but will pay off over time.
Be active in your inspector organizations and your local board of Realtors®. Realtors® and Brokers are not usually your clients but will be your major source of referrals.
Attending functions and classes that have a room full of Realtors® can be the best marketing you can do. Learn how they think, what they expect from you and what pressures they are under. Don’t expect respect if you don’t give respect. Sponsoring a meeting or class at a Real Estate office is a great way to “mine� for business. $50 worth of donuts and fruit and a few smiles can turn in to inspections for many years.
Connect with your Audience. Do you know what G.R.I or C.R.S. or A.B.R. means?? What about the Property Disclosure Form that agents must have the sellers fill out when they list a property for sale?
Be informed about these kinds of things and set yourself apart from other inspectors in your area.
If you are going to be in the Real Estate business and work around Realtors® be informed not only on how to do a great inspection but about the “other� people involved in the transaction. It will make you a better inspector and make you a lot more money. You might even make a few friends along the way.
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Local and State Conventions. A day away from inspecting to have a marketing booth or participate in some of the Realtor® conventions will bring dividends for your company the rest of the year. Try one of them, it might not be as bad as you think and it WORKS!!!
I am a Inspector not a Teacher. One of the best marketing ideas I have ever seen is writing a class on what an inspection is and is not. How does the inspection process work? What do you check and what don’t you check on an inspection and why? How does that protect the consumer and the Agent?
For example if you write a 3 hour class approved by your state for continuing education hours for the Realtors® and then teach the class at a Title or Real Estate company for free you will have a room full of future clients right in front of you. New clients plus they will know what to expect from you when you are doing inspections for their clients.
Ask for Business and be Nice. This is a simple marketing edge but often overlooked. The buyer might be your client but you can be pleasant and ask the listing or sellers agent to refer you to their clients on their next transaction. Handing out your card or brochure with a smile when ever possible should be a daily activity.
There is opportunity in our inspection industry everywhere.
Being a good inspector is only one part of running and growing a company.
Stay Educated!
Be involved in your real estate community.
Be a teacher and a student everyday.
Follow your plan and have FUN!!!!!