Building a Business Through Brotherhood with Marty & Rich Grunder
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Key Takeaways
Embrace Compliments: Use client compliments to motivate your team and acknowledge good work, as a simple 'thank you' is a powerful tool.
Learn from Failures: Don't be afraid to take on challenges like snow events or frustrated clients; learn from them, lick your wounds, and improve.
Build Personal Relationships: Going the extra mile, like seeing a client in person for difficult conversations, can leave a lasting positive impression, even if the outcome isn't ideal.
Understand Your Value: Don't be afraid to raise your prices when necessary to maintain business viability, even if it means losing a client.
Strategic Subcontracting: Recognize that while you may subcontract work, you still bear the responsibility, insurance, and sales effort, which justifies your profit margin.
Monitor Debt and Labor Costs: Keep a close eye on your balance sheet, the cost of debt, and potential shifts in labor supply and wages, as these can significantly impact your business.
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