Building Value Makes You Money And Differentiates Your Business
I regularly ask home improvement contractors: “What’s your favorite brand of metal roofing?” Recently, two of them answered with “Whatever I can get the cheapest.”
Wow. My mind was blown.
Their answers were probably influenced by the recent rise in prices of building materials, including metal roofing. I’ll give them the benefit of the doubt and believe this because, otherwise, every reputable contractor out there should want to compete with these guys.
Whether metal roofing or another product, searching for the cheapest option leaves home improvement contractors in a position where they have nothing to sell – no value – that beats their competition. And any competitor who knows how to help homeowners assess their needs, set their criteria, and buy based upon VALUE will absolutely eat their lunch!
Sure, the “I sell the cheap stuff” guy will get the occasional deal but only at a bottom-dollar price with no profit for marketing or overhead, let alone feeding their family. With an attitude of buying and selling only the lowest cost products, they will never escape being a “bottom-dweller.” Struggling for every deal, they will never have a viable, sustainable, ongoing business they can sell later.
Contractors who offer the best (and most valuable) products have the most VALUE to sell and command the highest prices. They can stay in business because they earn money to cover their overhead, feed their family, and take care of their customers today and years into the future.
In building materials and everything else, you get what you pay for. Buying low-cost products means contractors are buying inferior quality, even “secondary” materials. This puts their customers at risk of being unhappy in the future, which ultimately jeopardizes the future of their own business.
So, which do you want to be? The contractor who says, “Give me the cheapest,” or the contractor who says, “Give me the product with the most benefits so I can command the highest price”? Hopefully, you see the value in the second option, and if that’s you, I know that I will see you and your business succeed for years to come.
It’s important to be strategic about your business. Most people go into business because they want to turn a profit and build something of value. Yet far too many make decisions and follow strategies that don’t take them down that pathway. The businesses that last make big-picture decisions and keep the long term in mind. They set their goals and then develop strategies and practices to meet those goals.
As always, feel free to contact me anytime. I am always happy to discuss ways to increase your profits and start selling value instead of the lowest-cost option.
Todd Miller has spent his entire career in the metal building products manufacturing industry. He is president of Isaiah Industries, an organization recognized as one of the world’s leading metal roofing manufacturers. Todd is currently Vice President of the MRA (Metal Roofing Association) and a Past Chair of MCA (Metal Construction Association). Through his website, he strives to raise the bar on standards and practices to provide property owners with the best possible products for successful roofing projects.
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