Arkansas HVACR NewsMagazine September 2019

Business

To achieve this objective the owner/leader has to create a company people “love to work for”. To become a magnet that attracts the best people in the marketplace…the Eagles, and provide the work environment…the Nest, to develop a Team that Soars. They have to understand what motivates people to perform to the maximin of their abilities…to stretch. Money is only one motivator and seldom the only motivator. Among the top five are “Appreciation for a job well-done”… “Feeling in on things”…“The opportunity to grow as an individual”. residential HVAC customer as between $45,000 and $60,000 depending on the geographic market. This is based on a 40-year span. You can calculate it for your market area. What if a customer purchased all of their comfort needs from your company over a 40- year period…condensing units, furnaces, accessory equipment, service, extended warranties, service agreements, etc? What would that look like? If $45,000 and you have 1,000 customers it means $45,000,000 of future business, if you can just hold on to those customers. Customer Satisfaction. Industry sources peg the Lifetime Value of a

service and converting Customers to Advocates for your company.

Recommended reading to help you Take Your Company to the Next Level. “The E-Myth Revisited” by Michael Gerber. Check it out on Amazon for a full spectrum of Gerber’s E-Myth series. This is a must read for people who own/manage HVAC companies. Bob Gee is a Sales and Management consultant to the HVAC industry. He has facilitated over 100 two-day Working Group sessions on Taking Your Company to the Next Level. • Help is hard to find • 140° in the attic • Margins are low • Getting’ beat by low ballers • Only 24 hours in the day Been Sweatin’

Sign Up for Selling Comfort is Easy… …selling equipment is much harder www.arhvacr.org $155 for Association Members $195 for non-members

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Lifetime Value of a

Customer

$45,000 to $60,000

Want to grow your business? Create lifetime customers by providing WOW