FLOORING INDUSTRY BLOG & NEWS

Running Your Business
by the Numbers

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...