Growth is probably on your mind as you continue building your roofing business. It’s common to hit a few plateaus on your business growth journey. If you’re experiencing business growth stagnation, you might look for new strategies to revitalize your growth.
The good news is that you’re in the right place. In this blog post, we’ll discuss five sustainable business growth strategies to help your company thrive. Let’s dive in and learn how to energize your business!
Remember Your Why
Before we dive into our sustainable business growth strategies, let’s take a step back and remember why you started your business in the first place. What is your why? In other words, what is your purpose or driving motivation for your business?
Whatever your driving force is, it’s important to always keep it in the back of your head as you work toward your business goals. Now, let’s dive into sustainable business growth strategies you can implement at your roofing business.
Sustainable Business Growth Strategies You Can Use
Consider adopting these strategies to help grow and scale your business.
1. Overhaul Your Sales Process
Even if you think your sales process is running perfectly, you should still examine it to find improvement opportunities. There are several sales strategies that businesses can implement to increase effectiveness.
For example, at SumoQuote, we adapted our sales approach to accommodate both inside and outside sales. When a talented salesperson moved, we created an inside sales position to keep the individual. Their first year of working was highly successful.
If our business hadn’t been open to adjusting our sales approach, we could’ve lost millions of dollars in revenue.
It’s crucial to ensure your sales policies evolve with your growing company.
2. Grow Solar Knowledge
Solar offers ample revenue opportunities to roofing companies, but only 21.5% of roofers offer solar services. As most roofers know, the best time to install solar panels is during a roof replacement job. Roofing companies can boost their revenue by adding solar to their offerings.
Thanks to Engineering, Procurement, and Construction (EPC) firms, your company doesn’t need to worry about installation. If you can find a great EPC firm to subcontract the solar work to, you can maximize your profits on jobs.
3. Optimize Productivity with Your Tech Stack
Look for ways to use technology to optimize productivity within your business. With the right software tools and processes in place, you can scale your business and improve efficiency.
4. Add Revenue Streams
Look for ways to diversify your business and boost revenue and stability. Whether it’s adding a service department, branching into commercial work, or securing a solid partnership with realtors and property managers, diversifying your business helps you grow.
5. Create Accounting/Finance Benchmarks
It’s crucial to have a solid accounting and financial foundation set for your business before trying to execute any sustainable growth strategies. Try to answer the following questions to ensure your business is in a good position:
- What is your forecasted cash flow?
- What is your quick ratio?
- What is your debt-to-equity ratio?
How to Implement These Growth Strategies
It can feel overwhelming to try and accomplish all of these strategies at once. Instead of spreading yourself too thin, master one of these strategies first. That way, you can dedicate the resources needed to execute it well.
Here’s a framework to help you implement any of these business growth strategies:
Discover
In the discovery phase, ask yourself the following questions:
- What is the opportunity?
- What are the risks?
- What resources do we need?
- How long until we see success?
A thorough discovery phase can save you time and help you uncover potential pain points before you dive in.
Design
In the design phase, pick an individual to champion your chosen growth strategy. The champion can be yourself or another individual in your organization.
Here are a few key components of this phase:
- Include the champion in the planning.
- Map out the organizational impact.
- Look for opportunities to leverage your tech stack.
- Consider working with a professional coach or consultant.
Development
The development phase is all about accountability and taking action to implement your strategy. Here are a few essential items you should accomplish:
- Empower your champion.
- Create a step-by-step plan.
- Provide resources and training.
Review
In the review phase, you must know what success looks like. Follow these steps:
- Review multiple KPIs.
- Get feedback.
- Plan revisions and scale.
Elevate Your Tech Stack with SumoQuote
The right tools can help take your business to the next level. For example, SumoQuote makes it easy to quickly build professional quotes that land more jobs.
With features like eSignature and roofing estimate templates, contractors can save time and streamline their workflow. Additionally, SumoQuote integrates with other software tools you may already use.
Book a SumoQuote demo to learn more!
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