in 2023 As a roofing CEO in the year 2023, the idea of starting a business can be overwhelming. Oddly enough Dmitry from Roofing Insights also made a video about this today!
I thought I would add my own unique flavor to the discussion. With technological advances and ever-changing economic conditions, you are constantly trying to stay ahead of the curve and ensure your business’ success.
Having a clear strategy is key to helping your business succeed, no matter what industry you are in. One of my favorite influencers is Leila Hormozi and her 8-step framework provides an excellent blueprint for creating an effective strategy for starting your roofing business in 2023. Implementing these key steps will enable you to develop clear goals, an actionable plan, and attainable milestones that will give your roofing business the best chance of succeeding.
Here is an overview of the 8-step framework:
- Identify Your Market - This step will help you understand who your customers are and what their needs are. This can be accomplished through market research, surveys, interviews with past or current customers, or speaking with industry experts. With this information in hand, you can develop a profile of who your target Customer is and better define the services that you can provide to meet those needs.
- Set Goals and Objectives - This step requires you to determine what your ultimate goal for your company is and how it fits within the larger goals for your organization as a whole. For example, if you want to increase profits by 10 percent within the first five years of operation then this should be one of your objectives. Additionally, set other objectives that are designed to help achieve this larger goal such as improving customer service or increasing market share.
- Analyze Your Competitors - In order to be successful it is important to know who else is out there competing with you for business so that you can better position yourself as unique from them. Gather data on competitors’ strengths and weaknesses, promotional tactics they use, and their pricing strategies so that you can come up with ways to differentiate yourself from them. We often train our SumoQuote customers on how to do a secret shop!
- Create a Business Model - Utilize this step to evaluate which strategies could be most attractive for potential customers and profitable for the company by designing a comprehensive plan outlining specific activities necessary for success such as marketing tactics or forming alliances with other companies in different fields that would benefit both companies mutually. (Think - Gutter Companies, property inspectors, or Matt Danskins restoration referral system!)
- Create Financial Forecast - Create potential sources of income as well as estimated costs associated with providing roofing services including materials costs labor costs or taxes associated with running a small business. Once all these figures have been determined, use financial forecasting tools such as break-even analysis to determine what profits could potentially look like over time-based; on different scenarios such as increased demand or lowered production costs.
- Develop Tactics & Strategies - Using the information gathered from setting goals analyzing competitors creating a business model and making financial forecasts develop specific actions steps which should include both short-term tactics aimed at achieving milestones over several months such as increasing word-of-mouth referrals through social media campaigns along with long term strategies like introducing sustainable practices into roof installation services.
- Communicate Plan & Motivate Employees - Once plans have been generated make sure everyone in your organization understands them by communicating effectively using internal emails meeting agendas or team conferences Having everyone aware of goals strategies tactics etc along with understanding their part in contributing towards achieving these aims will help ensure success.
- Monitor & Evaluate Progress - The final step requires monitoring implementation regularly evaluating results achieved against goals set at the beginning adjusting plans accordingly if needed Celebrate successes whenever achieved striving for continuous improvement throughout the process.
By following Leila Hormozi’s 8-step framework outlined above it provides an excellent plan on how Roofing CEOs in 2023 should go about starting their businesses. IN FACT I EVEN WANT TO USE THIS FOR MY EXISTING BUSINESS! By researching your local market and determining goals by analyzing the competition; we can begin creating effective plans, assessing financesand devising actionable tactics.
Holding onto that plan and then communicating plans to a highly motivated and growing staff while monitoring their progress and adjusting plans where needed. Never forget to celebrate successes, even the small wins when achieved following this framework you can ensure that as a newly minted Roofing CEO you will have created an effective strategy critical for short-term success while also establishing robust systems capable of supporting long-term growth!
Are you ready to create a winning strategy for starting a business in 2023?