FLOORING INDUSTRY BLOG & NEWS

Running Your Business
by the Numbers

Are You Losing the Bidding War

We have seen the big bid death spiral play out in multiple flooring companies. It goes like this: Salespeople default to the easiest option for new...

How to win and deliver more of your large job opportunities

On this week’s episode of Flooring by the Numbers LIVE! Show we discussed the importance of taking a strategic approach to winning and then successfully...

Sales is a verb not an adjective

We learned this at school: A verb is a doing word. An adjective is a describing word. Many people describe themselves as “being in sales”. ...

Listen First. Speak later

When we observe salespeople engaging with potential customers we often find salespeople do most of the talking They like to tell the customer about their...

The secret to solving the underbilling nightmare

Last week we spoke about the problem of underbillings.  We identified several reasons why this happens but primarily the root cause is a lack of...

Are you overworked and underbilled?

In this week’s Flooring by the Numbers LIVE! Show, (watch the replay here) we discussed how important it is to have lean mean balance sheet...

3 keys to getting your voicemails returned

Why don’t your prospects call you back?  You have a great proposal or bid you want them to hear about or you want feedback on...

How to manage your portfolio to optimize profit and cash

Our stock phrase is Revenue is Vanity, Profit is Sanity & Cash is King. We know there can be good revenue and not so good,...

Annuity revenues from selling to end-users

One of the most common challenges our commercial flooring customers ask us to help with is the lumpy nature of their business. From a financial...

What comes first? The salesperson or the pipeline?

Like the proverbial chicken and the egg, the enigma of whether the salesperson creates the pipeline or the pipeline begets a salesperson is a profoundly...

Convert your goals into tangible results

When the word planning is used, the normal association is a process that takes a long time and often has limited results. Having a little...

3 ways to delight your GC

We enjoyed having Jerry Freeman of Spec-Intel on our Flooring by the Numbers LIVE! Show a couple of weeks ago.  If you want to watch...

Companies don’t buy floors. People do

In working with over 20 commercial flooring companies we have benchmarked the activities of their salespeople:  Only 6% of their time is spent prospecting for...

4 ways to grow your business

Post pandemic all of us are rebuilding our backlogs and seeking ways to grow our revenues.  What is the best way to do this? There...

How to escape the hamster wheel

Do you feel you are running on a hamster wheel or a flywheel? Jim Collins wrote about the flywheel effect in his seminal work "Good...

Commercial Flooring Headwinds and 7 Implications for 2021

We have worked and spoken with many commercial flooring companies and identified new business patterns having significant ramifications for owners in 2021 and beyond. Here's...

Are your salespeople carnivores or cannibals?

New sales hires look great on paper.  Their resumes are packed with successes and they are a delight to interview.  You expect your sales to...

Don’t take off on the takeoff. Think about the customer first

This week’s blog is an exciting guest contribution from Jessica Harrison. Jessica is second-generation flooring and part of the leadership team at DCO Commercial Floors. ...

Your cashflow blindspot and how to avoid it

Remember our saying—Revenue is Vanity, Profit is Sanity and Cash is King? The first two are easy to measure. I’m sure you all know your revenue...

Does high margin mean you are gouging your customer?

Have you ever heard these expressions: “That price would be gouging my customer” or “That is not a fair price” or “I think we are...

How to get higher margins through stronger relationships

Anyone can submit a bid. The best salespeople submit and win bids at higher margins. Why?  Because the prospect knows likes and trusts them. The...

How to benchmark your sales and delivery performance

The biggest cost within a commercial flooring business is labor and materials captured as COGS.  The second most significant cost is the cost of selling...

Where do commercial flooring salespeople spend their time?

The lifeblood of your business rests on generating predictable and profitable sales. So it is pretty important your sales team is on top of their...

Why do you need to grow your company?

Why do we have to grow? Unless you are a pure lifestyle business, growth is imperative. One owner put it quite succinctly: Grow, shrink or...

Why do some dealers bid at crazy low margins?

Why do some dealers still bid at ridiculously low margins?  It does not make any sense. Look, there is nothing wrong with a low-cost high-volume strategy....

How to make your subs love you

We hear two different conversations around labor. The first is largely negative—there is a shortage, they are of poor quality, they are unreliable and they...

5 beliefs eroding 20% of your profits and 30% of your cash

After 15 years working with flooring companies we have identified 5 belief that significantly erode growth, profit and cash.   We get paid when the...

Don’t sell floors, sell problems

Many salespeople focus on what they do or how they do it.  Your prospect is less interested in the what and the how.  They have...

How to make it easy for your customers to buy from you

Giving your prospective customers plenty of choices is a good thing, right? Nope. A group of university researchers (Columbia and Stanford) set up a stall...

What did we do before electronic bids?

Many of you are in 2nd and 3rd generation businesses. You can remember what it was like before the advent of the electronic bid. Firstly,...

Where do your salespeople go to improve their tradecraft?

According to the Bureau of Labor Statistics, (May 2019) 14,371,410 people are in sales. Yep. Over 14 million! And can you find a good one...

How to eliminate your competition with compelling bids

How do you ensure you get the flooring contract versus your competitor who may be at about the same price point or even lower? You...

Quick Quiz: Can you tell the difference between a feature and a benefit?

Convincing your prospective customer to buy your floor or other product or services requires you to create the desire to buy in their mind. Often,...

How to reduce your about to expire sales bids

One of the biggest complaints we hear from owners is that salespeople let bids die. They get old, rot and smelly, like fruit left in...

When you change the way you look at things

One important aspect about good pipeline management is to understand the age of the bids that are still undecided and in play. We all know,...

Write a love letter to your prospects

How do you as a salesperson get in front of a new prospect when they have created shields to repel all callers/emailers/texters? When was the...

Episode #21 Companies don’t buy floors-people do

Want to sell more floors--then think about selling to individual people and not just companies as a whole (more…)

6 Tips for using Schedule of Values to increase cashflow

The Schedule of Values (SOV) can be your friend.  Creatively structured, it can significantly improve your cashflow. Firstly, it’s important for your salespeople to understand...

Creating ownership of a realistic plan for 2021

We’ve been through many iterations of 2021 planning with several of our clients.  Given the environment has changed significantly, a more thoughtful approach to agreeing...

Ninja tricks on how to interview a sales candidate

Maybe your flooring rainmaker is getting ready to retire.  Or one or more of your existing salespeople has been on a steady decline.  Or the...

Ep #21: Companies don’t buy floors. People do

We discuss "who is the customer?"  Salespeople don't build relationships with general contractors.  They build them with people within those companies.  We explore ways to...

Ep #20: Building Your Executive Presence

As a business owner, you need to communicate with a level of authority. In this episode, Mick will explain what it means to have executive...