No one starts their own HVAC company because they want to lose money. Although the first few years may be tough financially as the business builds its foundation, eventually business owners hope to earn more than what they were making as just an installer. However, making money can take more work than what business owners originally anticipated. Here are a few tips for how to make money in the HVAC business.
Find Your Why
Before even starting a business, you will want to decide upon a reason or two for why you are doing this. On the days where it’s extremely difficult, you’re low on money, and you haven’t had a vacation in a year, you will need support from your “why” to get you through. Your why is greater than just the money itself. Are you starting your own business so that you can have a comfortable retirement? Are you trying to save for your kids’ or grandkids’ college? Are you wanting to pass on a legacy that’s greater than yourself? Deciding on this why is what will give you the encouragement you need to keep going every day.
Brush Up on Communication and Sales Techniques
One way to build trust with your clients, and thus create more income opportunities is by enhancing your communication techniques. Spelling and grammar can be important for some customers, especially in ads and official business communication. Some view poor communication as poor service, even if you have the best technicians in the country! Not only are proper words important, but timely responses are as well. In the age of social media and texting, customers expect quick response times. Even if you don’t have an answer right away, let them know you received their question and will be contacting them shortly with the answer. There are programs available designed to help businesses in this way by sending automatic and general responses letting them know a representative is working on a solution.
Another way to increase sales is by improving your sales techniques. If what you are doing now isn’t working, then it’s time to try some new techniques. There are plenty of sales techniques to choose from, and everyone has at least one they are most comfortable with. If it’s too far out of your comfort zone, you may not put as much effort into it, so choose something you and your staff could realistically perform and test it out! No matter what, a sales technique should lead someone to a purchase, or lead them further into the sales funnel. Make sure that with whatever technique you choose, you have these goals in mind.
Find a Marketing Strategy That Works for You
Closely related to sales is marketing. Almost no business succeeds or scales without some form of marketing. While there are some marketing strategies that work for all businesses, you will need to customize some strategies to fit your HVAC company. For instance, you may not have a national company, so you will need to focus on local marketing and incorporate local culture into your campaign.
Just like with sales techniques, there are plenty of marketing strategies to choose from as well. With marketing, you can even combine a few strategies, such as online pay per click ads, SEO, media commercials, and cold email. Often, robust marketing campaigns require experts to help execute parts or the entirety of the campaign. Don’t be afraid to reach out to the professionals to market your business. Marketing can be a full time job in and of itself, so you may not have the time you think to plan and complete a marketing campaign.
Build Your Team with Supportive Individuals
Lastly, to make more money in HVAC, you will want to surround yourself with managers and supervisors that are on board with your vision and completely support the company. Their confidence in the business will trickle down to the technicians, who will be proud to work for your company and be more inclined to perform money-making techniques. If your managers are not fully committed to the goals and vision of your business, it will be difficult to inspire other employees to do so.
Good managers can also offer ideas, initiate positive changes, and bring more to the table than just their managerial skills. Businesses historically succeed and sustain their success through innovation. Your managers can offer their ideas for innovation as a fresh perspective. Ensuring your leadership team is on board with your vision will keep these ideas in line with the overall objective.Stay Connected: