Commercial & Residential Electrical Contractors Case Study
Profile
The partners founded their company in May 2002. They were both born and raised east of Tampa, where the business is today. In their first five years, they grew the business to nearly one and a half million dollars in revenue and 12 full-time employees.
The Challenge
Without any formal business training, the owners found themselves running a busy installation and service contracting firm but not making any net profit. They found themselves micromanaging employees and harboring a feeling that they had to be present almost all the time manage the day to day business and ensure the quality and satisfaction levels they expected of themselves and their business. They were painfully aware that they lacked confidence in their field employees and in making business decisions that would turn their financial situations around.
The Solution
FocalPoint Module 1: Gaining Power Through Clarity, Within the first few months the owners made significant strides in many areas. They established a Vision, Mission and Strategic Plan for the business. They evaluated and changed core internal processes; most importantly those processes that directly impact profitability and asset management They effectively delegated many tasks, and improved overall communication among the team. In addition, they realized the importance of a diversified and effective marketing plan that drives sales. Most importantly. the best win is their growing sense of confidence in their business knowledge and the trust they have in themselves to make decisions that are best for the business and themselves.
- Savings 80%
- Website Traffic 50%
- Conversion Rate 75%
- Email Subscribers 60%
The Results Were Amazing
At the outset of their partnership with Focal Point Business Coaching, their main desire was to increase their profits and set up an infrastructure that would allow them “to run the business instead of the business running them”. Now, the owners enjoy a stronger, more accountable team that executes their work according to established performance expectations. They have a much greater confidence in the work they do and the value their services provide for their clients. They have reduced their billing time by 90%, saving themselves approximately $10K per year. They showed a 50% improvement in net profits over the first year.
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