On this episode, Tom chats with small business financial guru, Ellen Rohr of Zoom Drain. Though Ellen didn’t start off as a successful franchise president, in just a few short years she owned the title. Believe it or not, Ellen started by almost running her family plumbing business into the ground -- and her transformation from that point to where she is now is something all of you need to hear.
So how do you go from not being able to control a small family business to being president of a franchise that handles hundreds of locations across the country? By saying yes, finding the answers along the way and getting a firm grasp on the numbers. Ellen found herself business mentors, spent time learning how to read and understand the financial side of business, and the discovered the best way for her to organize that information. From there, she was able to figure out what her husband wanted with his business, and what she wanted to gain from her career which launched her into the position she’s in now. Thankfully, Ellen loves to help others in this industry and is a great resources for small business and contractor businesses when it comes to getting a handle on the numbers.
Ellen’s Top Three
Find the clarity within your business. Make the operating procedures, show your employees exactly what your non-negotiables look like. Create the standards and ideals that you want to see in your business. Ask yourself what you want in life, how you want to serve in life, where you see yourself going, where you see your business going. Have a clear vision of what you want and make it simple and understandable for your employees to be on that same page.
Know the money side of your business. You can’t operate for long if you don’t make a profit. But more importantly, you will not attract good people to work for you if you can’t show them that you know how to make money in the business. Take the time to learn and understand the financial side of things and really own that part of your business or hire someone who can and will own the numbers.
Be real with your employees. They might not ever fully buy into what your dream for the business is, but that’s okay. Instead, ask them what they want and what they want to do and where they see themselves going and grow together in that aspect. You can both be achieving goals and dreams at the same time, and that is how it should be.
Ready to level up your business IQ? Visit The Contractor Fight Accelerate Group run by Tom! Don’t miss out, make sure to claim your seat at the must attend contractor event of the year, Revolution 2018. Reserve your spot before 2017 ends to snag the early bird pricing!
Check out The Dream Manager - Book recommendation from Ellen.