I am fortunate to see many successful HVAC companies on a daily basis, and unfortunately, some who are not as successful as well. There are several traits that I see on a consistent basis that seems to separate them from the rest. The list below is not in any specific order, and certainly not all of the traits, but definitely a few from the top. Here are the top 5 traits of successful HVAC companies.
1. They stay in their lane.
They know what they do, and they do it over and over and over again. No dabbling. They do not try a little of this and a little of that. They know their business, and that is all that they do. You do not go to Hooters for the quiet ambiance or McDonald’s for the filet mignon.
Simply put, successful HVAC companies are specialized. Focusing on something you are good at allows you to spend time making your business better. Once you have perfected your service offering, you can take a step back and spend time on other areas of your business, like customer service. McDonald’s isn’t wasting effort trying to add filet mignon to their menu, instead they trust their burgers to do what they’re supposed to, and spend time training their staff to have better customer service skills.
2. They have incredible systems.
They leave nothing to chance, and have put systems in place to eliminate errors. This is done not only with built in items such as CRM’s, but with forms, formats, and processes as well. With these systems they monitor their key metrics and are able to adapt and change faster than most.
Monitoring your key performance indicators (KPIs) with these systems in place can show you where you’re performing at your best and where you may need to improve, like monthly profit or loss, or even customer retention. Plus, you can do this all digitally on a CRM, and even automatically generate reports.
Automation saves time, and time is money. When you have automatic systems in place, nothing gets lost in the process and reports can be viewed at the touch of a button. Successful HVAC companies keep an eye on their reports.
3. They invest in themselves and their people.
They are always looking for ways to get better and to get their team better. This is done through coaching, training, and networking with other pros that are where they want to be.
The most successful HVAC companies don’t stop when they reach success. Working continuous coaching and training into your HVAC business plan from the start will ensure you and your business are life-long learners. Plus, a company is only as strong as it’s employees. If you invest in your people, they will pay you back tenfold with loyalty, appreciation, and new learnings. Investments like these should be seen as HVAC business opportunities.
4. They say NO.
I have heard from top producers over and over again, “I can sit on the couch at home and lose money, I am not going to come to work and give it away”. They say no to jobs that are not a win-win for the client and the company. This is one of the biggest areas that I see those looking to grow their business struggle. They “need” the income so they take on every job they can and as a result, take on jobs that are not profitable, and then are not able to do the profitable work because they are too busy losing money.
5. They are marketers.
I do not care if you can design the best ductwork or calculate CFM’s better than anyone in the state. If you do not have a customer you are broke. Successful owners understand this concept. You need customers in order to keep your doors open, and bragging that you only work via referral is not the type of growth I am referring to. Many of them outsource this area to other professionals but they keep their finger on the pulse so they know if it is working or not.
Once again this is certainly not all of the similarities that I see daily, but without a doubt some of the top few. I hope you can use this list as a guide for your next HVAC business opportunity. What are some traits of successful HVAC companies that you’ve seen?