If you’re like most HVAC owners, you started your career working out of a truck. You got good at installation and repair, then got good at solving problems. Eventually, you obtained a license and went out on your own. Now you run a successful company. One that takes up most of your waking hours, and probably some of your quality sleep time, too.
What if there were a way to change the model?
If you’re building a business to sell – maybe to fund your retirement – it’s critical that you figure out how to change the company’s dependence on you. Here’s the litmus test: when was the last time you took a two-week vacation? Never? That’s a sign that your team depends on you too much.
Here’s why that’s a problem. First, it’s exhausting. You’re much more likely to feel burned out and lose your passion for running the business. Eventually, the company will lose momentum and start to decline. Second, a company that is completely dependent on the owner’s expertise and daily presence is very hard to sell. In fact, I find that the pool of buyers for companies like that is very small. If you receive an offer, it will be significantly discounted. Ultimately, the buyer will need to either save to hire another you or spend all their waking hours working.
Here are some ways to change how you’re doing business:
Invest in your team members and let them know you’re doing it – and why. Of course, you’ll want to make sure they have the right technical training and certifications. They are hungry to become experts, too (if they’re not, you might have another problem). Training should be considered a reward for excellence, and that comes from the top. Let your employees know that every skill they master (including office staff) makes them more valuable to the company and to the labor market, should they ever want to move on to a better opportunity.
And here’s how you keep them from moving on: make your company a better opportunity. If you don’t have a lead technician or a manager, you should be working on defining those positions and deciding who would be the best fit. Share the news and let your team know how you’ll be determining who’s right for the role. Years of experience, sure, but also motivation, problem-solving, communication, and people skills. A clear path to promotion will keep your best employees motivated to give their best effort every day.
Turn problems into teaching opportunities. If you’re the first person everyone in the field calls when they don’t know what to do, it means they trust your judgment. Your job is to get them to trust their own judgment. In The One Minute Manager Meets the Monkey, Ken Blanchard defines a “monkey” as the next move, advising managers to stop taking on employees’ problems. He says the key to independence (theirs and yours) is making sure they keep their monkeys.
It assumes they already know what to do. “How do you plan to handle it?” “What’s your next move?” Chances are, they do know what to do next; they just want affirmation from the guy in charge. Once they realize that they’re the guy in charge, they’ll make decisions and inform you after the problem is solved.
Of course, there will be times when the owner needs to step in and handle problems. Be sure to take your best employee with you when you do. Let them see how to handle issues with equipment, service, and customer expectations. Then talk about it afterward. Why you handled it that way is as important as what you did.
Create systems that free up your staff to do the work they’re hired to do. Customer Relationship Management (CRM) systems will ensure routine follow-up calls and emails are handled, even if your office manager isn’t there. Appointment reminders ensure that your techs don’t waste their time driving to customers who forgot they wouldn’t be home.
Automation doesn’t make mistakes and doesn’t require you to keep track of everything that needs to be done. Learning to use the systems effectively makes every member of your team more valuable. Part of what any future buyer of your company is buying is talent and expertise. Their offer will be based on the value they see in your staff and your systems.
The return on your investment also includes date nights, better sleep, and maybe even a two-week vacation next year.
